BUSINESS
BREAKING: Nigeria Joins OPEC To Cut Crude Oil Production
The Federal Government on Friday said crude oil price would rebound by at least $15 per barrel in the short term following the latest intervention of the Organisation of Petroleum Exporting Countries and its allies, jointly referred to as OPEC+. Minister of State for Petroleum Resource, Timipre Sylva, said the rebound could translate to additional revenue of $2.8bn for Nigeria. He...
[BREAKING] COVID-19: FG Reduces 2020 Budget
The Federal Government has sent a new budget proposal to the National Assembly for consideration in view of global economic realities as a result of the COVID-19 pandemic. The new proposal sighted by The Nation, which is being considered by the National Assembly, reduced the 2020 estimate from. N10.594 trillion to N10.276 trillion. It also reduces the oil benchmark from $57...
Coronavirus: Chinese Billionaire Jack Ma’s Medical Supplies Arrive Nigeria (PHOTOS)
A consignment of medical supplies donated by Chinese billionaire and Alibaba co-founder Jack Ma, has arrived in Nigeria. The Chinese billionaire had used his foundation to forward millions of face masks, testing kits and other protective equipment to Africa as the continent battles to arrest the spread of COVID-19, a deadly disease caused by a coronavirus. A cargo operated by Ethiopian...
BREAKING: FG Cuts Petrol Price To N130
President Muhammadu Buhari may have approved the reduction of pump price of the Premium Motor Spirit (PMS) also known as petrol from N145 to N130. A reliable presidential source, who disclosed this to The Nation at the Presidential Villa on Wednesday, said the approval may have followed a presentation by the Minister of State on Petroleum Resources, Chief Timipre Sylva,...
COVID-19: Economic council meets Buhari, warns of recession
The Presidential Advisory Council on Tuesday warned about dire economic consequences for Nigeria if the raging coronavirus infection was not contained as quickly as possible. The council, which is chaired by Prof Doyin Salami, met with the President, Major General Muhammadu Buhari (retd.), at the State House, Abuja. It said one of the immediate consequences, as shown in the crash of...
Dangote Loses N240b In 5 Hours To Coronavirus
Africa’s richest man Aliko Dangote on Wednesday lost more than N240 billion in five hours as the effect of the coronavirus bit harder on the Stock Exchange. The World Health Organisation (WHO) on Wednesday declared coronavirus a pandemic. A pandemic is a disease that is spreading in multiple countries around the world at the same time. Some of Dangote’s firms under the...
Coronavirus will put severe strain on Nigeria’s budget – Finance minister
The Minister of Finance, Budget, and National Planning, Zainab Ahmed, has said the novel Coronavirus, which had led to a huge drop in crude oil prices worldwide, would put a severe strain on the Federal Government’s budget. She said with the attendant effects of the spread of the virus, the time had come for the country to begin to live...
BREAKING: Buhari, Emefiele, Kyari, Others Hold Emergency Meeting Over Oil Crash
President Muhammadu Buhari and officials dealing with government finances are meeting right now. Those attending are the Minister of Finance, Budget and National Planning, Zainab Ahmed; Minister of State Petroleum Resources, Timipre Sylva; and the Minister of State, Budget/National Planning, Clement Agba. Other officials of government attending the meeting include the Governor of the Central Bank of Nigeria, Godwin Emefiele; and...
South African President Ramaphosa Appoints Okonjo-Iweala Head Economic Advisory Council
South Africa's President Cyril Ramaphosa has reportedly appointed Dr. Ngozi Okonjo-Iweala as the Head of the country’s Economic Advisory Council. ABN TV reports that South Africa entered its second recession in two years in the final quarter of last year as agriculture, transport and construction contracted, data showed on Tuesday, highlighting the impact of power cuts on the nation’s economy. Statistics...
How Buhari Intends To Spend $22.7m Foreign Loan
Here is how the Buhari administration plans to spend the loan and where the projects are located as contained in the document: INFRASTRUCTURE – Emergency road rehabilitation and maintenance ($434.7m, nationwide) – Abidjan-Lagos corridor highway development project study ($1.5m; multinational) – Abuja mass rail transit project (phase 2) ($1.25bn; FCT) – East-west road ($800m; Niger Delta) – Nigeria Housing Finance Project Guarantee Scheme ($100m;...
![Ohafia Monarchs Reject 'UDUMEZE OF OHAFIA' Title, Insist It's Unrecognized, Misleading [Document Attached]](https://abntv.com.ng/wp-content/uploads/2025/07/FB_IMG_1752179354516-100x75.jpg "Ohafia Monarchs Appeal For Calm, Reaffirm Neutrality In Ohafia Improvement Union Election Process")
