BUSINESS
From June, There Won’t Be Any Need To Import A Litre Of Fuel Into Nigeria — Dangote
The Chairman of the Dangote Group, Aliko Dangote, has said that with the plan the Dangote Refinery has in place, Nigeria will not need to import premium motor spirit (PMS) by next month. Dangote said that the refinery, which has already started supplying diesel and aviation fuel in Nigeria, has the capacity to meet the diesel and petrol needs of...
Reps Summon NNPC Boss, Emefiele, Over Unremitted N3.2tn
The House of Representatives has summoned the Group Managing Director of the Nigerian National Petroleum Corporation, Mele Kyari; and the Governor of the Central Bank of Nigeria, Godwin Emefiele, over non-remittance of $19.25bn (approximately N3.24tn) revenue that accrued from sales of crude oil in 2014. Chairman of the House Committee on Public Accounts, Wole Oke, issued the summons based on...
Atiku Lied About Nigeria’s Debt Profile – Lai Mohammed
Lai Mohammed, minister of information and culture, says former Vice-President Atiku Abubakar is spreading a false and frightening report on the country’s debt profile. Atiku had raised concerns on the country’s rising debt profile. The former vice-president said according to the medium-term expenditure framework (MTEF) and fiscal strategy paper (FSP), Nigeria’s debt to revenue ratio was 99% in the first quarter of 2020. The...
We Inherited A Bad Economy, FG Says As Tinubu Insists On 50m Jobs
The Federal Government, on Monday, said it inherited a bad economy with an unacceptable high rate of unemployment. The government also assured Nigerians that the administration of President Bola Tinubu will not rely on borrowing and that he had pledged to be transparent, honest and accountable to the people. Meanwhile, the President has promised to create about 50 million jobs through...
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...
Abia Sacks Management Of Four Farm Estates, To Open Bid For Fresh Managers
The Abia State government has said it will initiate a fresh open bidding process soon to bring in more credible investors into its four farm estates established across the state. This comes as the government has announced the revocation, with immediate effect, of contracts for the management of the four farm estates, stating that the managers failed in their contractual...
Petrol Price Increased To N626.21 In September — NBS Report
The National Bureau of Statistics (NBS) has reported that the average retail price of a litre of petrol increased from N191.65 in September 2022 to N626.21 in September 2023. This information was provided in the Petrol Price Watch for September 2023, released in Abuja on Saturday. According to the NBS, the September 2023 price of N626.21 represents a 226.75 per cent...
Adopt Zimbabwe’s Style To Curb Inflation, Obasanjo Urges FG
Former President Olusegun Obasanjo has advised the Federal Government to adopt the Zimbabwean model to weather the current storm of galloping inflation. He made the call at a Youth leadership symposium with the theme “Opportunities for Peace: Roles of The Youths in Conflict Prevention in Africa” held at Olusegun Obasanjo Presidential Library in Abeokuta, the state capital, as part of...
We Are Borrowing Wisely – Minister of Finance
Minister of Finance Zainab Ahmed has stated that the present administration is prudently borrowing to address the country’s infrastructure deficit. Ahmed, speaking at a news conference on the National Bureau of Statistics’ (NBS) latest report on the economy’s growth, remarked that there will be regrets if no investment returns revenue in the future. READ ALSO: After NDA Attack, Mbaka Warns Over...
Ex-Gov Ikpeazu Expresses Happiness As AfDB Approves $115m Infrastructure Loan For Abia
The immediate past Governor of Abia State, Dr Okezie Ikpeazu has expressed deep delight at the final approval given by the Africa Development Bank (AfDB) Infrastructural Loan Facility for Abia State. Few days ago, the Board of Directors of the Bank gave final approval for the sum of 115 Million Dollars to support major infrastructural development projects across the commercial...
