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Elon Musk Expects X to Launch Payment Services by Mid-2024

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X CEO Elon Musk, has announced that the launch of payment services on the social networking platform, is expected to occur around mid-2024.

Speaking on X Spaces, hosted by Cathie Wood, founder and CEO of Arkinvest, Musk said he expects the payment services to be fully launched sometime in the middle of next year.

He further noted that the company’s plan to roll-out payment services, hinges on approving pending money transmitter license applications, which often involves several rigorous processes.

Musk said he would have launched payments on the social platform earlier, but was weighed down by bureaucratic processes. He added that he isn’t perturbed about the company transmitter license applications being rejected, acknowledging that X had been a bit late in submitting all necessary documents.

It is worth noting that in the platform’s bid to launch deeper into payments services, X  snapped up money transmitter licenses in a number of U.S. states last week.

On December 15,  X took a step closer to offering payment features after receiving a money-transmitter license from a 13th U.S. state. The new payment licences from the states of Arizona, Georgia, Mayland, Michigan, Missouri, New Hampshire and Rhode Island are among the first steps to be taken in a bid to launch its own payment features and thus to realise Musk vision to emulate his first payment company Paypal.

X strategic state-by-state expansion into payments is crucial, as full nationwide coverage is necessary for the platform to offer comprehensive payment services across the US. Also, it grants X the ability to facilitate money transfers and paves the way for the company to allow users to send money to one another, similar to PayPal’s Venmo.

Since acquiring X (formerly Twitter) in October 2022, Musk said he envisions transforming the social networking platform into an everything app, which is similar to popular Chinese app WeChat.

Musk had told X employees that users should be able to conduct their entire financial life on the platform, and that he expects new features to be rolled out by the end of next year.

Meanwhile, Musk’s vision goes beyond enabling payments within the US, after X CEO Linda Yaccarino confirmed in a blog post that while X has already secured money-transmitter licenses in several states, X is moving toward launching a global payment system.

If X launches payments by the middle of 2024 as proposed, it will officially have what experts said are the key ingredients of an everything app.

Supreme Court Upholds Enugu State’s Gov., Peter Mbah’s Election Victory

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In a decisive ruling, the Supreme Court on Friday affirmed the election victory of Governor Peter Mbah in Enugu State, dismissing the appeal filed by the Labour Party (LP) and its candidate, Chijioke Edeoga.

The apex court upheld the unanimous decision by a five-man panel of Justices led by Justice Mohammed Garba, affirming the validity of Governor Mbah’s election.

The LP and Edeoga’s appeal sought to challenge the outcome of the gubernatorial election that took place on March 18. However, the Supreme Court found no grounds to overturn the concurrent verdicts of the Enugu State Governorship Election Petitions Tribunal and the Court of Appeal in Lagos, which had dismissed all allegations against Governor Mbah of the Peoples Democratic Party (PDP).

Addressing the issues raised in the appeal, the Supreme Court ruled in favor of Governor Mbah and the PDP, further reinforcing the earlier decisions made by lower courts.

Justice Garba held that the three witnesses presented by the appellants regarding their matter were identified as petitioners’ witnesses (PWs) one, two, and three. These individuals were among those whose written statements, given under oath, were deemed inadmissible as they had not been submitted alongside the initial petition.

“The evidence of PW 1, 2, and 3 is where the issue of non-qualification was based. The evidence having been expunged for being legally inadmissible, there is no evidence to support that allegation of forgery of certificate

“The allegation, as contained in paragraphs 24 and 25 of the petition is not supported by valid evidence. There is no merit in this issue,” he said

The Court of Appeal in Lagos had previously upheld Governor Mbah’s election, dismissing three critical issues raised by the LP and Edeoga. Specifically, the court stated that the appellants failed to substantiate their claim that Governor Mbah was unqualified to contest the election. Despite alleging over-voting in Mbah’s strongholds, the appellants failed to provide the voters’ register as evidence.

In the appellate court’s unanimous judgment, it was concluded that the LP and its candidate did not present sufficient grounds to nullify the Enugu State Governorship Election Petitions Tribunal’s initial ruling, which had dismissed their case. Consequently, the appeal was deemed lacking in merit, affirming Governor Mbah’s victory.

Following their dissatisfaction with the appellate court’s judgment, Edeoga and the LP escalated the matter to the Supreme Court, where they faced another defeat on Friday.

The Independent National Electoral Commission (INEC) had previously declared Mbah of the PDP as the winner of the gubernatorial contest after securing 160,895 votes. Edeoga of the LP trailed with 157,552 votes, while Frank Nweke of the All Progressives Grand Alliance (APGA) secured 17,983 votes, coming in third.

The LP and its candidate contested the election results, claiming they had secured the highest number of valid votes. They also alleged that Governor Mbah submitted a forged National Youth Service Corps (NYSC) Certificate to INEC, challenging his eligibility.

In addition to other observations, the court noted that the appellants, initially petitioners at the tribunal, presented eyewitnesses purportedly serving as polling unit and collation agents. However, during cross-examination, these witnesses confessed that they were not lawfully appointed to hold those roles as stipulated by relevant legal provisions.

Furthermore, the judge highlighted that the statements provided by these witnesses were nearly identical, differing only in names. Consequently, such evidence was deemed inadmissible and held no substantial value in the case.

“PW26 was the appellant state collation agent, he gave hearsay evidence because he was not at the ward collation centers for him to give admissible evidence of all that happened at all the ward collation centers.

“The tribunal was right to have held that the petitioner failed to prove with evidence that the second respondent (Mbah) was not elected with a majority of valid votes cast in the election.

“I have no reason to interfere with the concurrent findings of the two lower courts on the issue,” he said.

Based on these, the Enugu State Governorship Election Petitions Tribunal dismissed these allegations on September 9, affirming that Governor Mbah met the necessary qualifications for the election, including possessing a valid school certificate or its equivalent. The tribunal also highlighted the need for criminal allegations like forgery to be proven beyond reasonable doubt, rejecting certain witness testimonies for not being filed with the petition.

Mba welcomed the judgment, describing it as “a nudge to continue to provide water in every nook and cranny of Enugu State; to build smart schools in all the wards of our state; to sustain the provision of security; to provide massive infrastructure and roads development; to build a new set of leaders of tomorrow who will face the global challenges headlong.”

Nigeria’s Port Harcourt Refinery Completes ‘Mechanical’ Rehabilitation, Set to Commence ‘Phased’ Operations

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The heart of Nigeria’s oil industry witnessed an unprecedented moment as the Port Harcourt refinery, long dormant, reached a pivotal milestone with the announcement of mechanical completion and flare start-off, heralding the much-awaited onset of production in a phased approach.

Heineken Lokpobiri, the Minister of State for Petroleum Resources (Oil), radiated pride as he unveiled this monumental achievement during a meticulously organized media tour of the refinery on Thursday.

“Just to announce to Nigerians the fulfilment of our pledge to bring on stream phase one of the Port Harcourt refinery by the end of 2023 and the subsequent streaming of phase two in 2024. We happily announced the mechanical completion and the flare start-off on the 20th of December 2023,” Mr. Lokpobiri said on Thursday.

He emphasized the significance of the mechanical completion and flare start-off on December 20, 2023, as a crucial leap forward in the country’s energy revival.

The Port Harcourt Refineries, comprising both older and newer units, now stand tall with a formidable combined refining capacity of 210,000 barrels per day (bpd). The newly integrated plant contributes a substantial 150,000 bpd to bolster Nigeria’s domestic production capabilities.

This significant milestone follows the refinery’s closure in March 2019, initiating the initial phase of repair works. Italy’s Maire Tecnimont spearheaded the comprehensive review of the refinery complex, backed by Eni’s technical expertise as an adviser, marking a collaborative effort to breathe life back into this strategic asset.

Minister Lokpobiri, speaking with heartfelt gratitude, assured Nigerians that petroleum product production at the refinery is slated to commence post the Christmas break. He extended sincere appreciation to the populace for their patience and unwavering trust in the Nigerian National Petroleum Corporation (NNPC), acknowledging their pivotal role in facilitating the realization of this pivotal refinery rehabilitation initiative.

Recognizing the profound significance of this accomplishment within the context of President Bola Ahmed Tinubu’s Renewed Hope Agenda, Minister Lokpobiri extended warm congratulations to NNPC and the nation for this momentous feat.

“This heralds the commencement of production of petroleum products after the Christmas break. We want to thank Nigerians for their patience and trust in the NNPC to deliver on her promise and mandate of rehabilitating our refineries,” he added.

Pius Akinyelure, the Board Chairman of NNPC Ltd, echoed Lokpobiri’s sentiments, expressing profound satisfaction with the landmark development. He reaffirmed NNPC’s unwavering commitment to President Tinubu’s outlined timeline and emphasized the critical role of the refinery’s operation in stabilizing fuel costs, a crucial factor in Nigeria’s economic stability.

This achievement is the culmination of Nigeria’s enduring struggle with defunct refineries, resulting in heavy reliance on imported petroleum products and substantial revenue losses. Despite previous refurbishment attempts and shifting deadlines, meeting production targets had remained an elusive endeavor.

Former President Muhammadu Buhari, in 2015, pledged to revitalize the country’s refineries aimed to bolster reserves and cease fuel importation. However, consecutive delays and escalating renovation costs impeded the efficient processing of crude oil, casting shadows on the realization of this ambitious goal.

Minister Lokpobiri’s assurances in August were met with skepticism as earlier deadlines went unfulfilled, underscoring the challenges faced in revitalizing these critical energy infrastructures.

The comprehensive tour of the refinery, graced by key dignitaries including Minister of State Petroleum Resources (Gas) Ekperikpe Ekpo, NNPC Ltd Board Chairman Pius Akinyelure, NNPC Ltd Group Chief Executive Officer Mele Kyari, and other eminent officials, marked a significant turning point in Nigeria’s energy landscape. The occasion stands as a testament to resilience, determination, and collective efforts poised to reshape Nigeria’s energy future.

The Port Harcourt refinery has gulped $1.5 billion in rehabilitation funds.

Tinubu Announces 50% Discount on Nationwide Road Travel for the Festive Season

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President Tinubu has authorized a substantial discount of 50% on road transport fares across Nigeria, aiming to facilitate easier travel for Nigerians during the festive season. This initiative was revealed by Dele Alake, the Minister of Solid Mineral Development, during a press briefing at the State House.

Alake, acting as the chairman of the Inter-ministerial Committee on Presidential Intervention, alongside Alhaji Mohammed Idris (Minister of Information and National Orientation), Saidu Alkali (Minister of Transportation), and Bayo Onanuga (Special Adviser to the President on Information and Strategy), provided intricate details about the presidential intervention aimed at alleviating the financial burden on travelers, especially the masses intending to reunite with their families during this festive period.

The discounted fare, approved by President Tinubu, is effective from Thursday, December 21, 2023, until January 4, 2024.

“In the spirit of Christmas and demonstration of his love for Nigerians as proof, he feels the federal government should intervene to bring down the costs of public transportation to allow persons who want to travel to visit their loved ones,” Alake said in a statement.

“It is in this wise that the Federal Government is announcing, beginning from tomorrow, a special discounted holiday season fare on road transport and zero-fare by rail across Nigeria.

“This special presidential intervention will commence tomorrow Thursday, December 21. It will end on January 4, 2024.

“The Federal Government through the Ministry of Transportation will be working with transporters, road transport unions, and Nigerian Railway Corporation to seamlessly deliver on this special presidential initiative.

“From tomorrow, Nigerians wishing to embark on inter-state travel to any part of the country from Abuja, Lagos, Kano, Kaduna, Enugu, Port Harcourt, Owerri, Ibadan, Akure, Maiduguri, Sokoto and other major inter-state transportation hubs will be able to do so at half the cost.”

The special offer includes a 50% discount on public transportation via minibuses and luxury buses, as well as zero-fare rail services throughout Nigeria. Alake highlighted the significance of this intervention, emphasizing its commencement on December 21 and continuation until January 4, 2024.

Efforts to seamlessly execute this initiative involve collaboration between the Federal Government, the Ministry of Transportation, road transport unions, and the Nigerian Railway Corporation. Transport firms enlisted for the 50% fare reduction include GIG (God is Good) Motors, Chisco Transport, Young Shall Grow, God Bless Ezenwata, and Area Motor, utilizing 51-seater luxurious buses.

However, despite the announcement, there are indications that several transport companies have yet to fully comply with the initiative, potentially affecting the smooth implementation of the scheme. Alake, along with the committee, has assured Nigerians of ongoing efforts to ensure the effective implementation of this presidential directive.

The initiative covers 28 interstate routes, allowing travelers from major hubs such as Lagos, Abuja, Kano, Kaduna, Enugu, Port Harcourt, and others to benefit from the reduced fares during this festive period. The President’s decision aims to ease the financial strain on Nigerians and foster a joyous and connected holiday season for families across the nation.

Transporters Unaware of Your 50% T-fare Discount – Obi Tells Tinubu

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Peter Obi, the Labour Party’s presidential candidate in Nigeria’s recent general election, expressed apprehension regarding President Bola Tinubu’s initiative to reduce inter-state travel costs by 50%.

Through a statement shared on X on Friday, Obi, known for his critiques of the present government, questioned the effectiveness and longevity of the proposed intervention.

“I’ve reviewed reports stating the President’s approval for a 50% reduction in the price of interstate transport fare for Nigerians traveling during this Yuletide, from December 21, 2023, to January 4, 2024,” Obi stated. “If fully realized, this initial intervention aimed at aiding the masses is undoubtedly a positive step.”

Tinubu announced the initiative on Wednesday, as a part of the government’s interventions aimed at cushioning the effect of subsidy removal and rising inflation on the masses. The initiative, which covers 28 inter-state routes across the country, is expected to take effect from Thursday, December 21, 2023, until January 4, 2024.

“From tomorrow, Nigerians wishing to embark on inter-state travel to any part of the country from Abuja, Lagos, Kano, Kaduna, Enugu, Port Harcourt, Owerri, Ibadan, Akure, Maiduguri, Sokoto and other major inter-state transportation hubs will be able to do so at half the cost,” the government’s announcement said.

However, there are concerns that the move will end in showmanship like many other initiatives of the government aimed at mitigating economic hardship. Moreover, transport companies like GIG (God is Good) Motors, Chisco Transport, Young Shall Grow, God Bless Ezenwata, and Area Motor, enlisted, are yet to acknowledge they have such an agreement with the government.

This backdrop has prompted Obi to join other skeptical Nigerians in interrogating the initiative.

Sustainability Concerns and Post-Intervention Strategy

Obi raised fundamental concerns about the sustainability of such emergency measures once the festive season concludes saying, “While acknowledging the high transportation costs and associated hardships, we must address the crucial question: What happens after the festive season? Is there a durable policy to alleviate the masses’ enduring burden from high transportation costs beyond this temporary initiative?”

He emphasized the need for a comprehensive strategy beyond the short-term intervention, highlighting potential challenges that could persist once the initiative ends.

“The issue with these seasonal palliatives extends beyond the immediate relief they offer. Millions have already embarked on travels, enduring the burden of exorbitant costs. What measures are in place to compensate or refund these individuals?” Obi asked, drawing attention to the complexity of the situation.

Verification Efforts and Disappointing Results

To ascertain the initiative’s implementation status across various cities, Obi said he proactively sought confirmation but encountered disheartening results.

“I dispatched contacts to major parks in Abuja, Lagos, Onitsha, Kano, Aba, Kaduna, Owerri, Gombe, and others,” Obi explained. “Unfortunately, transporters at these parks seemed unaware of the purported 50% discount. Even the designated transport companies announced for participation and the 28 specified routes lack adequate oversight mechanisms to ensure compliance.”

Emphasizing Transparency and Genuine Benefit to Citizens

Expressing skepticism about the integrity of the initiative, Obi stressed the significance of deliberate and transparent arrangements between the government and transport companies, particularly when aiming to benefit the broader masses.

“While commendable, government compassion should not exploit weak structures or facilitate opaque policy implementation,” he asserted, advocating for a more transparent and accountable approach.

Appeal for Genuine Action and Compassion

Obi further underlined the hardships faced by Nigerians, urging the government to demonstrate genuine sensitivity and concern for citizens’ plight.

“The Nigerian people are enduring severe hardship, and it’s crucial that the government doesn’t overlook their suffering,” he emphasized. “I hope this initiative isn’t merely an attempt to gain media favor without substantial impact on the ground.”