Powell is showing readiness to defy Trump to defend Fed
On Thursday, Federal Reserve Chairman Jerome Powell gave a firm “No” when asked if he would resign if Donald Trump requested it.
At a news conference after a major Fed meeting, Powell stressed multiple times that Trump – who had considered firing him during his presidency – doesn’t have the legal power to demote or remove him or other top Fed officials in Washington.
What made Powell’s response notable was how it contrasted with his handling of other political questions. While he carefully avoided answering reporters’ questions about political matters and wouldn’t discuss potential policies of the next administration, he spoke up quickly when it came to defending the independence of the Federal Reserve, where he’s worked since 2012.
Trump made Susie Wiles the first woman to serve as White House chief of staff.
Donald Trump announced on Thursday that Susie Wiles, who served as one of his campaign managers, will be his White House chief of staff.
At age 67, the low-key Wiles will make history as the first woman to serve as White House chief of staff.
In his announcement statement, Trump said: “Susie is tough, smart, innovative, and is universally admired and respected. I have no doubt that she will make our country proud.”
This appointment is the first of many staff announcements to come as Trump prepares to return to the White House on January 20th.
32 states owed contractors, and retirees 933bn in 2023
In 2023, contractors and retired workers were owed a massive sum of N933.32bn by 32 Nigerian states. This information comes from the 2024 State of States report by BudgIT, an organization that works to make government spending more transparent and accountable to the public.
The states that owe money are Abia, Adamawa, Akwa Ibom, Anambra, Bauchi, Bayelsa, Benue, Borno, Cross River, Delta, Ebonyi, Edo, Ekiti, Enugu, Gombe, Imo, Jigawa, Kaduna, Kano, Katsina, Kebbi, Kogi, Kwara, Lagos, Niger, Osun, Oyo, Plateau, Sokoto, Taraba, Yobe, and Zamfara.
Breaking down the total debt: N408.69bn is owed to contractors who did work for the states, while N524.63bn is owed to retired government workers in the form of pensions and retirement benefits.
Interestingly, some states like Bayelsa, Edo, and Kebbi reported that they don’t owe any money to contractors. Similarly, Ogun and Ondo states said they’re up to date with their pension payments.
Delta State has the biggest debt to contractors at N76.26bn. This is significantly more than Imo State, which owes N43.47bn, and Cross River State, which owes N39.12bn – the second and third highest amounts respectively.
Read Also: Insufficient filling stations slow FG’s CNG project.
Economic reforms now in results delivery stage – Edun
According to Wale Edun, who serves as both the Minister of Finance and head of economic planning, President Bola Tinubu’s economic changes are starting to show positive results. He shared this update during a meeting with Senate financial leaders in Abuja on Thursday evening.
Edun thanked Nigerian citizens for their patience during the difficult adjustment period, claiming that the worst part of these economic changes is now over and things are looking up.
He believes that the challenging early days of these reforms are now behind the Nigerian people, with signs of improvement becoming more visible.
In his words: “The two critical reforms on market-based pricing of Premium Motor Spirit and foreign exchange are now at the stage of results delivery and, by extension, the viability of the nation’s economy through the restoration of fiscal health.”
He went on to say: “These two pillars of the economic reforms that have taken positive shape now portend additional revenue for the government, recovery of NNPCL’s finances, and a strong basis for economic growth in terms of attracting investment and creating jobs. I think we need to commend Nigerians for staying the course to this stage of getting benefits.”
We don’t deal in adulterated products – NNPCL.
The Nigerian National Petroleum Company Limited (NNPCL) on Thursday said it does not deal in adulterated petrol.
NNPCL Chief Corporate Communications Officer, Olufemi Soneye, disclosed this in a statement.
“NNPC Retail Ltd does not deal in adulterated products as it adheres to rigorous standards and quality control measures at every stage in its operations to ensure that only high quality, safe, and reliable petroleum products are available at its stations nationwide,” the statement read.
Soneye also rejected a viral video showing a customer claiming to have bought fuel, allegedly from an NNPC Retail outlet at Keffi Flyover in Nasarawa State.
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