BUSINESS
Ministry Of Mines Seeks Partnership With SEC On Exploration Of Mineral Resources
As part of efforts to develop and grow the sector and use it as an alternative source of revenue generation for the country, the Ministry of Mines and Steel Development is collaborating with the Security and Exchange Commission (SEC) for funds mobilization to boost exploration in the sector. Minister of State Mines and Steel Development Dr. Uchechukwu Sampson Ogah made...
“It’s Foolishness To Keep Borrowing” – Obasanjo Blasts Buhari
Former President, Olusegun Obasanjo has fired the Muhammadu Buhari administration over its continuous borrowing to fund recurrent expenditure. Obasanjo, in a recent interview with Channels TV, said that it was ‘foolishness’ to keep borrowing and creating debt for the future generation. “If you want to build a commercial house and you go and borrow money, and you have 50 per cent...
IPMAN Advises FG To Remove Petrol Subsidy
The Independent Petroleum Marketers Association of Nigeria (IPMAN) on Thursday advised the Federal Government to remove subsidies on petrol in order to increase the sector’s contribution to the nation’s revenue. Mr Mike Osatuyi, National Operations Controller, IPMAN gave the advice in an interview with the News Agency of Nigeria (NAN) in Lagos. He was reacting to President Muhammadu Buhari’s presentation of...
Buhari Vows To Expose Big Names Behind Oil Theft
President Muhammadu Buhari has said his government would soon reveal the identities of important personalities behind oil theft in the country. Senior Special Assistant to the President on Media and Publicity, Garba Shehu who spoke on the president's behalf said that as part of efforts to rid the country’s economy from sabotage of greedy few, security operatives had raided locations...
All Debts Incurred By Buhari Justifiable — Fashola
The Minister of Works and Housing, Babatunde Fashola, has said that the Buhari administration has justified all its debts by constructing various infrastructures across the nation. Fashola stated this at the closing ceremony of the 28th National Council of Works meeting held in Kano on Thursday. He said the ongoing projects across the country had justified the debts, especially when compared...
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...
Nigeria’s Economy On A Steady Growth Despite Global Challenges, Says Buhari
President Muhammadu Buhari Friday in the State House Abuja stated that despite the disruptions in global economy and internal troubles, the Nigerian economy has continued to be resilient and maintains an upward trajectory. Speaking at the inauguration of a Presidential Committee on the National Economy, President Buhari said the COVID-19 pandemic, the war in Ukraine, and the loss of substantial...
Hardship For Nigerians As Inflation Hits Highest Since 2005 At 20.5%
Nigerians are gasping for breath as the inflation rate rose by 0.92 basis points to 20.52 per cent in August from 19.6 per cent in July, the highest since October 2005. This represents the seventh consecutive monthly rise in Headline inflation since February. Food inflation also rose to 23.12 per cent in August 2022, representing a 1.1 percentage-point increase compared...
Buhari To Present 2023 Budget Friday To National Assembly
Barring last-minute changes, President Muhammadu Buhari will on Friday formally present the 2023 budget estimates before the joint session of the National Assembly. According to the key assumptions for 2023 in the documents presented to the House of Representatives and seen by Tribune Online, the oil benchmark is estimated at $70, crude oil production – 1.69mbpd, exchange rate – N435.57/$;...
Reps Approve ₦8.4tn Borrowing, ₦6.3tn Debt Service
President Muhammadu Buhari will on Friday lay the 2023 Appropriation Bill before a joint session of the National Assembly in Abuja. Ahead of the Federal Government budget presentation, the House of Representatives, on Thursday, passed the 2023–2025 Medium Term Expenditure Framework and Fiscal Strategy Paper, which the President earlier presented to the National Assembly. The House approved an aggregate FGN expenditure...
