News on the Go: 5 things that should matter to you today

• FG increases petrol price to N1,025 per litre despite falling crude prices
• Sanwo-Olu debunks reports of suing EFCC over alleged arrest plans
• Why U.S. election is important to Nigeria, says  UNILAG VC

We have highlighted the five most important developments in the news today, Wednesday, October 30, and present them below.

5 issues in the news that should matter to you today

1. FG increases petrol price to N1,025 per litre despite falling crude prices: The Nigerian National Petroleum Company Limited (NNPCL) has raised the price of Premium Motor Spirit (PMS), commonly known as petrol, to N1,025 per litre from the previous rate of N980 per litre in Lagos and surrounding areas.

This adjustment, announced on October 29, marks the third price change in September and October 2024 and is part of the government’s deregulation policy, which allows prices to fluctuate based on supply and demand dynamics.

2. Airport projects: Senate approves N24bn refund for Kebbi, Nasarawa: The Senate has approved President Bola Tinubu's request to refund N24bn to Kebbi and Nasarawa (15bn for Kebbi and N9bn for Nasarawa) states for executing airport projects on behalf of the Federal Government.

The approval was a sequel to the presentation of a report by the Chairman of the Senate Committee on Local and Foreign Debts, Manu Haruna.

3. Reps pass bill to allow military involvement in food production: On October 29, the House of Representatives passed a bill for a second reading that will allow the armed forces to get involved in food production in the country to enhance food security and promote economic diversification.

The bill, sponsored by Babajimi Benson (APC, Lagos), seeks to establish the Armed Forces Farms and Ranches to enhance food security and promote economic diversification.

4. Sanwo-Olu debunks reports of suing EFCC over alleged arrest plans: Lagos State Governor Babajide Sanwo-Olu has denied reports claiming he filed a lawsuit against the Economic and Financial Crimes Commission (EFCC) over an alleged plan to arrest and prosecute him after his tenure.

The governor addressed the claims in a statement released by the state Attorney General and Commissioner of Justice, Lawal Pedro, on October 29.

5. Why U.S. election is important to Nigeria, says  UNILAG VC: The Vice-Chancellor of the University of Lagos (UNILAG), Prof. Folashade Ogunshola, says there are valuable lessons Nigeria can learn from the United States electoral system, including transparency, accountability and inclusivity in elections.

Ogunshola, represented by Prof. Bolanle Oboh, Deputy Vice-Chancellor (Academics and Research), made this known at a 2024 U.S. Election event on October 29 in Lagos.