BUSINESS
Niger Now Exports Fuel To Nigeria
The Niger Republic, a country that started commercial oil production in 2011, now exports petroleum products to Nigeria. For decades, Nigeria’s three major refineries have been grounded to near-zero capacity utilisation with all of its refined fuel imported from other countries. According to Guardian, data obtained from the African Refiners & Distributors Association (ARA) revealed that strong refinery performance in the...
Tinubu Sacks Tukur As NFIU Boss, Appoints Bakari
President Bola Tinubu has fired Moddibo Tukur as the Director/Chief Executive Officer of the Nigerian Financial Intelligence Unit (NFIU), naming Ms Hafsat Abubakar Bakari as his replacement. According to Ajuri Ngelale, presidential spokesman, who announced the appointment, it is subject to confirmation by the Senate. “Ms. Bakari is a lawyer and financial intelligence expert with years of experience in anti-money laundering,...
Gov. Sani Reveals Actual Debt Burden Inherited From Predecessor, El-Rufai
Kaduna State Governor, Uba Sani, has said his administration inherited a huge debt burden of $587 million, N85 billion, and 115 contractual liabilities from the previous administration of Nasir El-Rufai. Governor Sani lamented that due to the rise in the exchange rate, the state is now paying back almost triple of what was borrowed by the previous administration. Governor Sani, who...
FG Talks Tough, Vows To Deal Bloody Nose On Oil Vandals, Thieves
The federal government yesterday said it would clamp down on vandals and oil thieves sabotaging the economy. The Minister of Interior, Rauf Aregbesola, said President Muhammadu Buhari had given the resources and the marching order to take the war to them. He spoke yesterday at the commissioning of eight gunboats acquired by the Nigeria Security and Civil Defence Corps (NSCDC) in...
High Cost Of Cooking Gas Angers Enugu Residents
Some residents of Enugu metropolis have criticised the high cost of cooking gas in the state, the News Agency of Nigeria (NAN) reports. A correspondent of NAN, who conducted a market survey on the price of cooking gas in some cooking gas plants and outlets on Wednesday, observed that the prices of the products had increased by 50 per cent. NAN...
Senate Warns That Looted Funds Should Not Be Used For Banks Recapitalisation
The Senate Committee on Capital Market & Institutions has cautioned against the potential risks of utilizing laundered funds for the recapitalization of banks. The Chairman of the Committee, Senator Osita Izunazo, during the 2nd Quarter Symposium organized by the Association of Capital Market Academics of Nigeria (ACMAN), urged the Central Bank of Nigeria (CBN) to intensify efforts in ensuring that...
Three Trucks Carrying Precious Stones Impounded In Zamfara
Zamfara State Command of the Nigeria Security and Civil Defense Corps has impounded three trucks carrying precious stones. The Commandant, Muhammed Muazu, disclosed this at a news briefing in Gusau on Monday, saying that the trucks, loaded with precious stones, were intercepted in Gusau on their way to Sokoto as the drivers had no legal documents for security clearance. The commandant...
Petrol Pump Price May Crash
The Pipeline Products Marketing Company (PPMC) may crash the prices of Premium Motor Spirit (PMS) petrol this month, ABN TV learnt at the weekend. The Independent Petroleum Marketers Association of Nigeria (IPMAN) National Vice President, Alhaji Abubakar Maigandi, said the marketers are looking forward to a downward review of the ex-depot price for October. He based his forecast on the decline...
We’ve Received N3.911bn In Oil Derivation — Lagos State Govt
The Lagos State Government has disclosed that the sum of N3.911bn has been realised since it became an oil-producing state but the production has been hampered due to challenges faced by the company managing its exploration. The state’s Commissioner for Energy and Mineral Resources, Biodun Ogunleye, made this known on Wednesday at the 2024 Ministerial Press Briefing to mark the...
FG Sets Up Centres For Nigerians To Buy Rice ₦40,000 — Minister
The Federal Government has called for calm on the proposed nationwide protest, saying it had created centres across the country where Nigerians can purchase a 50kg bag of rice for ₦40,000. This was revealed by the Minister of Information and National Orientation, Mohammed Idris while briefing correspondents on the outcome of the Federal Executive Council meeting presided over by President...
