BUSINESS
How Buhari Dropped Ararume As NNPC Board Chairman
Muhammadu Buhari has dropped Senator Ifeanyi Ararume as Chairman of the Board of the Nigerian National Petroleum Company (NNPC) Limited. The President also replaced Senator Ararume with Senator Margret Okadigbo, wife of a former President of the Senate and running mate to President Buhari in 2007 under the All Nigerian Peoples Party, ANPP, late Senator Chuba Okadigbo. Recall that Senator Ararume,...
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...
No More Loans For FG, CBN Declares
The Central Bank of Nigeria (CBN) says it has discontinued granting loans through its Ways and Means advances to the federal government. The CBN Governor, Olayemi Cardoso, said the decision was because of the government’s failure to settle its outstanding debt. Cardoso said this on Friday at an interactive session with the Senate Committee on Banking, Insurance and other Financial Institutions...
NUPRC Explains Transfer Of 200 Staff To Lagos
The Nigerian Upstream Regulatory Commission (NUPRC) has said it transferred 200 of its staff to Lagos in the interest of the nation. The Chief Executive of NUPRC, Engineer Gbenga Komolafe said the motive conveyed in a report of the transfer by Daily Trust could not be substantiated. Komolafe said: “It’s not a decision that was taken out of ill-motives or bad...
Our Economic Environment Does Not Support Further Borrowing, Finance Minister Tells Senate
The Minister of Finance and Coordinating Minister for the Economy, Wale Edun, has disclosed that the country cannot rely on borrowing to fund the 2024 budget. Edun stated this on Thursday when he appeared before the joint Senate Committee interrogating the 2024-2026 Medium Term Expenditure Framework and Fiscal Strategy Paper chaired by Senator Sani Musa. The finance minister told the joint...
Pensioners Threaten Naked Protest Over Escalating Prices Of Goods
The Nigeria Union of Pensioners says its members will take to the streets naked, if the welfare of pensioners in the country does not improve significantly any time soon. The National President of the union, Godwin Abumusi, told journalists at a news briefing in Abuja on Friday that his union will take the action to draw the attention of the...
Nigeria Reaching Maximum Capacity To Borrow, Says El- Rufai
Governor Nasir El-Rufai of Kaduna State has revealed that the country is about reaching its maximum capacity to borrow, hence the need to improve on other channels of revenue generation in the country. He made these remarks during his keynotes address at the 22nd Annual Tax Conference, themed “Taxation and Competitiveness: Imperatives for National Development” on Thursday in Lagos. Governor El-Rufai,...
Energy Transition: Vice President Osinbajo Launches Roadmap, Urges Strategic Plan In Africa
Nigeria's Vice-president, Yemi Osinbajo (SAN) has said it requires a peculiar transition plan in the African continent to fill the energy gap currently in existence, urging that the pathways and the action should be decisive and urgent. “For Africa, the problem of energy poverty is as important as our climate ambitions. Energy use is crucial for almost every conceivable aspect...
Zamfara Moves Away From N7,000 Minimum Wage, Now Pays N30,000
The Zamfara State Government has commenced the payment of N30,000 minimum wage to workers in the North-Western state. This followed a meeting the state governor, Dauda Lawal, held with the leadership of labour unions where he pledged to commence the payment of the minimum wage in June. Disclosing this in a statement on Friday, the governor’s spokesperson, Sulaiman Bala Idris, said...
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...
