Today's Headlines:Gabon soldiers oust Ali, say election result cancelled;FG lose N1.9tn to oil theft

Gunfire in Gabon as soldiers seize power, cancel election result

Photo Credit: Vanguard papers)

A dozen Gabonese soldiers appeared on television Wednesday announcing they were putting an end to the current regime and the cancellation of an election that, according to official results, President Ali Bongo Ondimba won.

During the announcement, AFP journalists heard gunfire ring out in the Gabonese capital, Libreville.

While announcing the cancellation of the results one of the soldiers said all the institutions of the republic had been dissolved.

Among the soldiers were members of the Republican Guard as well as soldiers of the regular army and police officers.

AFP journalists heard gunfire in several districts of Libreville during the statement.

The announcement came shortly after the national election authority said Bongo, who has been in power for 14 years, had won a third term in Saturday’s election with 64.27 percent of the vote.

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FG loses N1.9tn to oil theft in July –Report

Photo Credit: Punch papers)

Crude oil theft may have cost the country a whopping N1.9tn revenue loss in July, according to analysis.

The estimation was arrived at following a pronouncement by the National Security Adviser, Nuhu Ribadu, last week when he led a presidential delegation to inspect oil and gas facilities at Owaza in Abia and Rivers State.

Ribadu said Nigeria was losing 400,000 barrels of crude oil daily due to activities of oil thieves and pipeline vandals. He added that the country had the capacity to produce 2 million barrels of crude oil per day.

Checks by data provided in the August report of the Organization of the Petroleum Exporting Countries showed that the country’s July crude oil production, as provided by direct sources such as the Nigerian National Petroleum Company Limited and the Nigerian Upstream Petroleum Regulatory Commission, was one million barrels per day.

FCT mulls transport, food palliatives for residents

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The Minister of the Federal Capital Territory Administration, Nyesom Wike, said his administration had yet to decide on how to expend the N5bn palliative fund expected from the Federal Government.

This was as he stated that his administration might consider transportation and food support while noting that efforts were ongoing to bring back urban mass transportation to the FCT to reduce residents’ suffering in terms of transportation.

Wike revealed the development to pressmen in Abuja on Monday night, after a closed-door meeting with contractors handling several projects in the FCT.

It was reported that the Federal Government had on August 17 announced a N5billion palliative for each state of the federation, including the FCT, to cushion the impact of the removal of the petrol subsidy.

N700bn CBN farmers’ loan under threat in flooded states

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As flooding hits some frontlines states following the opening of the Lagdo Dam in Cameroon by the authorities, about 3.04 million Nigerian farmers may struggle to repay over N700bn Anchor Borrowers’ Programme loan of the Central Bank of Nigeria, according to findings.

The opening of the dam is expected to affect 13 frontline states, according to the National Emergency Management Agency.

Already, water levels have risen some states including Benue and Anambra, while Niger is already experiencing flooding.

Findings showed that farmers in the states are at risk of flooding based on the analysis done.

Some of the farmers, who spoke said the development might make it difficult for them to repay their Anchor Borrowers’ loan.

Clintonie (
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