A Canadian woman has been sentenced to 11 years in prison for smuggling illegal drugs into Nigeria.

A 41-year-old Canadian woman, Adrienne Munju, has been found guilty and sentenced to 11 years in prison by a Federal High Court in Lagos for bringing 74 parcels of Canadian Loud, a potent type of synthetic cannabis, weighing 35.20 kilograms, into Nigeria.

She was apprehended by the NDLEA at Terminal 1 of Murtala Muhammed International Airport in Ikeja, Lagos, on Thursday, October 3, 2024, during the inspection of incoming passengers in the airport's Arrival Hall.

The judge, however, offered the convicted individual the alternative of paying a fine of N50 million for each of the two charges, resulting in a cumulative fine of N100 million.

The House of Representatives is preparing to deliberate on a proposed bill that aims to raise the allocation of derivation funds for states endowed with mineral resources from a minimum of 13 percent to a target of at least 50 percent.

The proposed legislation, put forward by Awaji-Inombek Abiante, the representative for the Andoni/Opobo/Nkoro Federal Constituency in Rivers State, along with eight other co-sponsors, seeks to modify Section 162(2) of the 1999 Constitution (as amended).

The bill, which was originally set to be discussed in Wednesday's plenary session, has been postponed until Tuesday of next week. This decision was made to ensure that members have ample time to acquire copies and engage in meaningful discussions.

Hon. Awaji said, “The intent and desire to ensure the rehabilitation and development of the damaged environment where mineral resources (liquid, gaseous, and solid) are extracted for the sustenance and development of the entire country do not seem achievable under the current 13 per cent arrangement.”

“This bill is not solely about resource control but seeks to address the various issues related to the meagre ‘not less than 13 per cent’ derivation fund payable to states from revenues derived from their environment, as provided for in Section 162(2) of the 1999 Constitution of the Federal Republic of Nigeria (as amended).”

BREAKING:

The Senate has summoned a national summit to address the pressing issue of over 20 million out-of-school children in Nigeria. This summit will bring together the federal, state, and local governments, traditional leaders, parents, and all key stakeholders to collaboratively explore solutions.

According to the World Bank Nigeria incurs a loss of N13 trillion due to foreign exchange subsidies. They have urged the government to maintain a unified exchange rate, which would help rectify the significant distortions created by the previous administration and ultimately benefit the economy.

The world report indicated that the government experienced losses of N2 trillion in 2021, N6.2 trillion in 2022, and N5 trillion in 2023.

The Bretton Woods report says, “Quantifying the fiscal cost, through forgone revenue of multiple exchange rates: Prior to the full FX unification in February 2024, the presence of a parallel FX premium generated enormous fiscal costs, in the form of forgone revenues.

“This situation emerged because FX revenue inflows—such as oil and customs revenues, as well as a portion of domestic VAT and CIT which are paid in FX—were transferred to the treasury at the official exchange rate.

“However, due to the significant difference between the official and parallel market rates, the amount of naira-denominated revenue received by the Federation from FX-linked revenues was significantly reduced.

“The unification of the FX rate has therefore eliminated the forgone revenues that previously benefited certain groups at the expense of the entire nation.

“The estimated implicit forgone revenues from the FX premium were even larger than the PMS subsidy, underscoring the importance of maintaining a unified FX rate.

“In 2022, when the cost of the PMS subsidy reached N4.5tn, representing 2.2 per cent of the Gross Domestic Product, the revenues forgone that emerged due to the large parallel rate premium are estimated to have been N6.2tn, representing 3 per cent of GDP.

“N4.5tn of FX revenue was forgone from gross oil revenues and N1.7tn from the FX revenue forgone from non-oil tax revenues.

“These findings demonstrate that the FX unification reform not only addresses distortions in the FX market and the real economy but also has a substantial impact on restoring fiscal space.

“Therefore, maintaining the unified FX rate that Nigeria has achieved since February 2024 is essential from a fiscal perspective.

“It should be noted that in addition to the large estimated fiscal benefits, the FX reform is also expected to benefit the economy by removing the large distortions the previous regime imposed, such as skewing the competitive landscape in favour of importers with preferential access to FX, making it more difficult and less profitable to export, and fueling rent-seeking and illicit activity,”

Nigeria has granted approval for Exxon Mobil Corp. to sell its oil and gas assets to the local energy company Seplat Energy Plc, bringing to a close a prolonged two-year delay in finalizing the $1.3 billion deal.

President Bola Tinubu, granted ministerial approval for this agreement along with three others, according to Gbenga Komolafe, the chief executive officer of the Nigerian Upstream Petroleum Regulatory Commission.

On Monday, during an event in the capital city of Abuja, Gbenga Komolafe, the CEO of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), announced that the ministerial approval has been secured.

Under the agreement, Seplat will acquire a 40% interest in four oil mining leases and the related infrastructure, which includes the Qua Iboe export terminal. Additionally, Seplat will hold a 51% stake in the Bonny River natural gas liquids recovery plant that was formerly operated by Mobil Producing Nigeria Unlimited, the local division of Exxon.

During his two-day operational visit to the region, Defense Minister Mohammed Badaru praised the dedication of the military personnel in protecting Kaduna State, especially along the Kaduna/Birnin Gwari road.

He said, “In the last six months, we haven’t recorded any cases of kidnappings or civilian ambushes, aside from a few engagements with bandits,” He commended the troops for their unwavering commitment and resilience, which have contributed to significant enhancements in security within Birnin Gwari.

The minister highlighted that the purpose of his visit was to uplift the spirits of the troops, evaluate their operational capabilities, and reinforce ongoing strategic collaboration to support peace and stability.

He added, “Security is the foundation of growth, and your efforts are vital to Nigeria’s future. We must secure a peaceful nation for future generations.”

Engr. Sule Abdulaziz, the Managing Director of the Transmission Company of Nigeria (TCN), has conveyed his confidence that the country will achieve a constant 24-hour power supply within the next five years.

He said, “You know you said whether we can get it in ten years. I’m telling you, we are going to get it in less than five years.   

“The Minister they put now is looking at what the problems are. He is not doing cosmetic shows. He is looking at what he will do to increase light in this country. That’s why I’m sure we are going to succeed.” 

“If you ask Nigerians honestly, they all know there is improvement in power now when this regime came. From the time Adelabu took over till now, there has been a great improvement and this improvement is going to continue.”

Petrol marketers have imported 123 million liters and are in ongoing discussions with Dangote.

A minimum of four ships transporting imported petrol, docked at seaports located along the nation's borders from Friday, October 18, to Sunday, October 20, as per the Punch.

The dealers have mentioned that the output from the Dangote is currently inadequate to satisfy local demand.

They alleged that the facility was generating approximately 10 million liters of petrol each day, which falls short of the initial commitment to produce 25 million liters daily.

The initial delivery of 35,000 metric tonnes of PMS designated for West African Port Services arrived at the ASPM jetty on Friday, October 18, at 10:13 AM.

Subsequently, at 3:37 PM, 37,000 metric tonnes of fuel were designated for Intership. It also docked at the ASPM terminal jetty.

At 3:59 PM on the same day, another ship, transporting 10,000 metric tonnes of fuel, arrived at the dock. Peak Shipping has been appointed as its agent for this operation.

On Sunday at 8:02 am, a ship docked at the Eco Marine Terminal in Calabar, bringing with it a cargo of 10,000 metric tonnes of fuel.

George Ene-Ita, the spokesperson for the Nigerian Midstream and Downstream Petroleum Regulatory Authority, stated that marketers who possess valid import licenses are permitted to import PMS.

He emphasized, however, that the agency must conduct three essential tests on the products.

He said, “The products must be subjected to our testing protocols at the ports. The products must conform to stipulated standards before we authorise them to offload to their terminals.

“Also, before the smaller vessels bring it further inland to Nigeria, our people will fly to the place to see the product and carry out some tests to ensure the right specification is upheld.

“Tests are also done at the products’ origins. And when the products come in before they are released to the market, further tests would be conducted to ensure that they meet the specifications.”

The Comptroller General of the Nigeria Immigration Service, Kemi Nandap, has revealed that efforts are currently being made to modernize Nigeria's border security infrastructure.

The CG underscored the advancements being achieved in improving border management systems, stressing the crucial role of implementing cutting-edge technologies and strategies to protect the nation’s borders.

In a statement released by Kenneth Udo, the Immigration Spokesman, which our correspondent acquired on Sunday, the Controller General revealed this information during a recent visit to immigration offices in Lagos, Ogun, and various other states in the South-West region.

Nandap also encouraged service personnel to uphold a high level of professionalism, assuring them that their well-being would remain a top priority.

President Bola Ahmed Tinubu, GCFR, has entrusted Vice President Kashim Shettima with the responsibility of heading Nigeria's delegation to the 2024 Commonwealth Heads of Government Meeting (CHOGM).

VP Shettima is set to participate alongside King Charles of England and various global leaders from 56 member nations at the upcoming Commonwealth Heads of Government Meeting (CHOGM) in Apia, Samoa, a small Pacific island. This inaugural gathering, scheduled for October 21 to 26, will focus on the theme "One Resilient Common Future: Transforming our Common Wealth."