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Update : CBN to begin disbursement of N30b revitalisation fund to varsities

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..Fed Govt plans law against proliferation of private varsities.

He explained that the fund was not immediately disbursed because the Federal Ministry of Education and the National Universities Commission (NUC)  committee needed to evaluate the audit reports of the universities

The revitalisation fund is one of the  seven key issues evaluated yesterday at a Federal Government’s  meeting with the leadership of the Academic Staff Union of Universities (ASUU).

According to a statement by the Deputy Director of Press and Public Relations in the Federal Ministry of Labour and Employment, Charles Akpan, the two  parties   expressed satisfaction  with the  implementation stages of what Ngige called “work in progress”.

The minister said  some of the items in the Memorandum of Action (MoA) were nearly done  hundred per cent within the timeline.

He added  that the National Information Technology Development Agency (NITDA) was  directed to expedite action on the integrity test  on the University Transparency Accountability Solution (UTAS) which, if successful, would  eliminate the challenges posed by the peculiarities of the university system to the current payment platform.

“The report has been turned in, deliberated upon and the Education Ministry and the NUC have promised to write to the Accountant General of the Federation next week for the release of the money to the NEEDS Special Account for onward disbursement to universities shortly,” Ngige said.

He explained that apart from the N40 billion Earned Allowance, which the Federal Government has already paid, the Budget Office had shown evidence that N22 billion  Earned Allowances for  2021 was already captured in the 2021 supplementary budget.

On the proliferation of state universities, the minister said: “A Bill has been sent to the National Assembly by the NUC to strengthen its  arms in terms of delisting universities where funding and other parameters are inadequate.”

ASUU President Emmanuel  Osodeke expressed satisfaction with the outcome of the meeting and promised that the union would reach out to its members.

Ngige expressed  shock that the National Association of Resident Doctors of Nigeria (NARD)  embarked on strike after holding a similar successful evaluation meeting with him last week.

Those at yesterday’s  meeting were the Permanent Secretary of the Ministry of Labour and Employment, Peter Tarfa and the immediate Executive Secretary of NUC, Prof. Rasheed Abubakar.

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Nigeria meets 96% OPEC quota in Aug., as output averages 1.63mbpd – NUPRC

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Nigeria’s upstream oil sector has recorded a year-on-year output increase, averaging 1.63 million barrels per day (bopd) of crude oil and condensates in August 2025,

This is an improvement from 1.58 million bopd in the same period 2024.

This is based on Crude Oil and Condensate Production for August 2025 report, released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on Saturday.

The report was signed by its Head, Media and Strategic Communications, Eniola Akinkuotu.

It said that Nigeria’s crude oil output in August met 96 per cent of its Organisation of the Petroleum Exporting Countries (OPEC) quota, set at 1.5mbpd.

It said that the performance demonstrated the country’s capacity to meet its production targets under the OPEC agreement.

“A breakdown of August 2025 production comprised 1.43 million bopd of crude oil, which grew by 5.47 per cent compared to August 2024, which posted a daily crude oil average of 1.36 million bopd.

“This reflects a steady recovery and improved operational performance across the industry,” it said.

The report said that daily condensate production in August stood at 197,229 bpd, reflecting a slight decline from 220,435 bpd in August 2024.

It said that on a month-on-month basis, there was a slight drop of 4.7 per cent in combined crude oil and condensate production from 1.71 million bopd in July.

“Similarly, crude oil production itself declined by 4.8 per cent, down from 1.5 million bopd in July 2025.

“The month-on-month drop was driven by a single day unscheduled maintenance at an oil facility.

“In the month of August, the lowest and peak combined crude and condensate production were 1.59 million bopd and 1.85 million bopd respectively.

“In the month under review, Forcados Terminal topped the production charts, delivering a total of 8.99 million barrels, including 8.08 million barrels of crude oil and 915.2k barrels of condensates,” it said.

It said Bonny Terminal followed closely, after producing a combined 6.26 million barrels, consisting of 5.8 million barrels of crude and 418,270 barrels of condensates.

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BREAKING: Fubara arrives Port Harcourt Airport

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The Rivers State Governor, Siminalayi Fubara has arrived the Port Harcourt Harcourt International Airport, Omagwa, Rivers State.

Fubara’s aircraft touched down at about 11.55am as his supporters waited for him to step down from the aircraft.

 

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Tinubu has concluded his work vacation ahead of schedule and will return to Abuja on Tuesday, Says Onanuga

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President Bola Tinubu will on Tuesday, September 16, return to Abuja to resume official duties after ending his vacation earlier than planned.

The Special Adviser to the President on Information and Strategy, Bayo Onanuga, confirmed the development in a statement on Monday.

He said, “President Bola Ahmed Tinubu has concluded his work vacation ahead of schedule and will return to Abuja on Tuesday, September 16, 2025, to resume official duties.”

The President had departed Nigeria for France on September 4, 2025, to spend part of his annual holiday. He was initially scheduled to split the period between France and the United Kingdom.

While in Paris, Tinubu held a private luncheon with French President Emmanuel Macron at the Élysée Palace.

Both leaders reportedly reviewed key areas of bilateral cooperation and agreed to strengthen partnerships in pursuit of mutual prosperity and global stability.

This trip is Tinubu’s seventh visit to Paris since assuming office in May 2023 and his first since the BRICS summit in July and August’s TICAD9 in Japan.

In the first nine months of 2025, the President has undertaken 15 international trips across 11 countries.

These include high-level summits, bilateral engagements, presidential inaugurations, and annual leaves.

On January 6, Tinubu kicked off his diplomatic itinerary with a visit to Accra, the capital of the Republic of Ghana, to attend the inauguration of President-elect John Dramani Mahama on January 7.

He was in the United Arab Emirates to attend the Abu Dhabi Sustainability Summit from January 12 – 16, where he held side meetings with Gulf investors and officials on trade and energy cooperation.

From January 27-28, he visited Dar es Salaam, Tanzania, to participate in the Africa Heads of State Energy Summit.

February saw the President travel to France before attending the 37th African Union Summit in Ethiopia, where he joined other African leaders in discussions on regional security, climate adaptation, and continental trade integration under the AfCFTA.

From April 2-21, Tinubu embarked on a two-week working visit that included France and the United Kingdom.

In mid-May, the President travelled to Vatican City, attending the historic inauguration of Pope Leo XIV in Rome.

From June 28 to July 4, Tinubu undertook a landmark state visit to Saint Lucia, where he addressed CARICOM leaders in Castries.

From Saint Lucia, he proceeded to Brazil, arriving in Rio de Janeiro for the 17th BRICS Summit (July 4–7).

The Brazil visit continued into August, with President Tinubu returning for a two-day state visit.

This came after he visited Japan in the same month to attend the Tokyo International Conference on African Development, where he pitched Nigeria’s investment readiness to Japanese multinationals and met Prime Minister Fumio Kishida on maritime security and digital infrastructure.

Before he arrived in Japan, Tinubu and his entourage stopped over in Dubai, UAE, on August 15 and arrived in Yokohama early in the morning on August 18.

It was his second visit to the Gulf state within the year.

In September, he again embarked on a working vacation to the United Kingdom and France, his third visit to Paris this year and second to London.

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