BUSINESS
Court Voids Passage Of Rivers Budget By Pro-Fubara Lawmakers
Justice James of the Federal High Court Abuja has nullified the N800 billion budget passed by the Edison Ehie-led group of the Rivers State House of Assembly and signed into law by the Rivers State Governor, Siminalayi Fubara. The court also upheld the suit filed by the Assembly and Speaker Martin Amaewhule, against Fubara, which sought an order of injunction...
End Payment Of “Scandalous” Pension To Ex-Governors, Falana Urges States
Human rights lawyer, Femi Falana (SAN) has called on states to abolish pension payment to former governors, noting that Nigeria can no longer afford to pay ‘scandalous’ pension. He noted that no fewer than 20 of them are in the Senate, drawing jumbo salaries and allowances. In a statement, Falana said many state governors voted themselves humongous pension and perks. The senior...
Shettima Urges African Leaders To Ramp up 3% of continent’s global GDP
Vice President Kashim Shettima, has implored African leaders to work towards ramping up the total $3.1 trillion Gross Domestic Product (GDP) of countries on the continent, amounting to a paltry three percent of the overall global GDP. The Vice President, who gave the charge during the African Economy of Scale Plenary on the sidelines of the ongoing World Economic Forum...
NNPCL Considers Handing Over Rehabilitated Port Harcourt Refinery To Private Operators
As the Port Harcourt oil Refinery comes to life, the Nigerian National Petroleum Company Limited has concluded plans to hand over the government refinery to private operators. The NNPCL said it was seeking to engage reputable and credible operations and maintenance companies to operate and maintain the Port Harcourt Refining Company. This, it said, was “to ensure reliability and sustainability towards...
How Vessel With 200,000 Litres Of Stolen Crude Was Intercepted In Delta
The Chief of Defence Staff (CDS), General Christopher Musa, in company of top officials of the Nigerian National Petroleum Company (NNPC) Limited on Monday, inspected a vessel caught with about 200,000 litres of stolen crude. The vessel was arrested by a joint sting operation carried out by the Nigerian Navy and a private security firm Tantita Security Services. Twenty three suspects...
NNPCL To Hand Over Port Harcourt Refinery To Private Operators
As the Port Harcourt oil Refinery comes to life, the Nigerian National Petroleum Company Limited NNPCL has concluded plans to hand over the government refinery to private operators. The NNPCL said it is seeking to engage reputable and credible operations and maintenance companies to operate and maintain the Port Harcourt Refining Company. This, it said, was “to ensure reliability and sustainability...
Seven Major Marketers Get Approval To Sell Dangote Fuel
The seven major oil marketers in Nigeria have registered with the Dangote Petroleum Refinery for the lifting and distribution of refined petroleum products produced by the $20bn plant. Dealers under the aegis of the Major Oil Marketers Association of Nigeria confirmed on Sunday that with the registration, they would commence the distribution of fuel produced from the facility once the...
VP Shettima Jets Out To Switzerland For World Economic Forum
The Vice President, Senator Kashim Shettima, has departed Abuja for the World Economic Forum in Davos, Switzerland. This was disclosed in a statement on Sunday by the Vice President’s spokesman, Stanley Nkwocha, saying the trip was at the instance of President Bola Ahmed Tinubu. At the 2024 forum, Shettima will “join other political and business leaders across the world at the...
Dangote Appreciates Tinubu As Refinery Commences Work
The President of the Dangote Group Aliko Dangote has commended President Bola Tinubu for his support following the commencement of production of diesel and aviation fuel at the Dangote refinery. In a statement he issued on Saturday, Dangote said Tinubu’s encouragement and advice were instrumental to the actualisation of the project. “We thank President Bola Tinubu for his support and for...
Lagos Assembly Passes N2.267tn 2024 Budget Into Law
The Lagos State House of Assembly has passed the N2.267 trillion budget for 2024 presented by Governor Babajide Sanwo-Olu last year. The budget, comprising 58 per cent capital expenditure and 42 per cent recurrent expenditure, was approved after a unanimous voice vote by the lawmakers. Governor Sanwo-Olu, on December 13, 2023, presented the 2024 budget proposal of N2.246 trillion to the...
