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Latest News Why we can’t make public asset declarations of President, others — CCB Fear grips students as killers lay siege to Otuoke Varsity Notorious kidnapper, 16 others nabbed in Plateau Ihedioha, Okorocha in pension figure battle 3 fake journalists arrested in National Assembly trying to extort Petroleum Minister Sanwo-Olu, Okonkwo parley ASPAMDA, Trade Fair market leaders on infrastructure development Senate investigates N2.5bn NDDC contract inflation Magodo collapsed building: Lagos Govt marks over 100 houses for demolition Buhari orders forensic audit of NDDC operations from 2001 Oyo Governor unveils details of state security architecture •Set to launch vigilante services 35 killed in Saudi Arabia bus crash Delta NLC suspends minimum wage strike

 

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FG, States, LGs share N693.529bn in September

The Federation Account Allocation Committee (FAAC) has shared a total of N693.529 billion to the three tiers of government for the month of September. According to a statement on Thursday, the money comprises revenue from Value Added Tax (VAT), Exchange Gain, and Gross Statutory Revenue. The committee chaired by the Accountant-General...... more

Ebonyi: Umahi strategises for zero oil economy

Ebonyi: Umahi strategises for zero oil economy In view of dwindling oil revenue, Ebonyi State governor, Chief Dave Umahi, says he has marshalled out plans for the survival of the state by the time the nation runs short of revenue from crude oil, UCHENNA INYA reports. Crude oil was first discovered in Oloibiri Bayelsa State in June 1956....... more

Africa loses $45B due to weak financial accounts system

Africa loses $45B due to weak financial accounts system Weak public finance accounts system was responsible to the loss in Africa of resources worth $45 billion annually, said the head of Peace and Security Finance with the African Union Commission. Speaking to Anadolu Agency on the sidelines of a three-day forum on Public Finance Management, Selidji Gbaguidi said: “African governments...... more

FG gives up on $62bn allegedly owed by oil majors

FG gives up on $62bn allegedly owed by oil majors Petroleum Minister of State Timipre Sylva said Nigeria knows it cannot recover $62 billion from oil majors despite ongoing cases against the companies for money the government believes it is owed. “Nobody can bring out that kind of money,” Sylva told reporters after a weekly cabinet meeting in Abuja. “I mean,...... more

Economic transformation: We’ll take hard decisions in Oyo — Makinde

Economic transformation: We’ll take hard decisions in Oyo — Makinde Oyo State Governor, Engineer Seyi Makinde, on Wednesday, said that his administration would not shy away from taking hard decisions in order to set the state on a trajectory of sustainable development. The Governor, who also advised his brother governors not to be caged by crave for second term, stated that...... more

Konga rolls out loans to merchants ahead of Yakata 2019

Konga rolls out loans to merchants ahead of Yakata 2019 Foremost e-Commerce giants Konga has taken a step further towards making the 2019 edition of its Yakata sales an unforgettable experience for its customers. To this effect, Konga has made available soft loans and credit facilities for merchants on the Konga Marketplace. Konga Yakata – as Konga’s Black Friday sales are...... more

DPR seals gas plants, petrol stations in Ebonyi

DPR seals gas plants, petrol stations in Ebonyi The Department of Petroleum Resources (DPR), Enugu Field Office, has sealed six Liquefied Petroleum Gas (LPG) plants and three petrol stations in Ebonyi in the last seven days. Mr Okechukwu Okoro, the Controller of the field office, which comprises Enugu and Ebonyi states, disclosed this on Wednesday in Enugu in an...... more

FG licenses 6 modular refineries

FG licenses 6 modular refineries The Federal Government of Nigeria has issued licences for six modular refineries to commence operations in the country. Senior Special Assistant to the President on Niger Delta Affairs, Mr. Edobor Iyamu, disclosed this in Uyo, on Tuesday, during a ‘Dialogue on Critically Appraising Mechanisms Used To Transfer Benefits of Resource Extraction...... more

Subsidy: Nigeria financing government’s inefficiency — Obi

Subsidy: Nigeria financing government’s inefficiency — Obi Vice-Presidential Candidate of the Peoples Democratic Party (PDP), Mr. Peter Obi, has called for improvement in infrastructure in the country, to reduce the suffering of Nigerians even when it is totally avoidable. Obi said this while speaking to journalists in Lagos, on Monday. The former Anambra State Governor, who spoke extensively...... more

FG will not meet 2019 revenue target — Finance Minister

FG will not meet 2019 revenue target — Finance Minister Mrs. Zainab Ahmed, the Minister of Finance, Budget and National Planning, says the nation will not be able to reach 80 per cent revenue performance for 2019. She said this on Monday in Abuja at the public presentation of the 2020 budget proposals. Ahmed said that as at half year, the...... more

FG, KAS Prints, Canon partner to empower Nigerian youths

FG, KAS Prints, Canon partner to empower Nigerian youths The Federal Government of Nigeria, KAS Prints and Canon are into joint partnership on the training and empowerment of Nigerian youths in the areas of digital graphic designs and printing.  The partnership will equally favour printing entrepreneurs, graphic artists and digital photographers. The partnership was officially unveiled at the weekend in...... more

NLNG celebrates 20th/30th Anniversary, says Bonny preferred investors and tourists’ destination

NLNG celebrates 20th/30th Anniversary, says Bonny preferred investors and tourists’ destination The Nigerian Liquefied Natural Gas Company (NLNG) has climaxed week-long activities marking the company’s 20th/30th Anniversary Celebrations – meaning 30 years of incorporation and 20 years of successful operations. Speaking at the event on Sunday in its host community, Bonny, Rivers State, NLNG Managing Director, Mr. Tony Attah, noted that the...... more

Customer Service Week: Eko DisCo visits hospice with relief items

Customer Service Week: Eko DisCo visits hospice with relief items The management and staff of Eko Electricity Distribution Company (EKEDC) on Thursday, October 10, 2019, visited House of Gold Children’s Hospice in Surulere, Lagos State. Corporate Social Responsibility (CSR) is one of the activities that show the premium EKEDC places on its host community and the people around its operations, hence...... more

8 DisCos risk licence cancellation over N30bn debt

The Nigerian Electricity Regulatory Commission (NERC) recently notified eight power distribution companies (DisCos) on its intent to cancel their licences in 60 days after they accumulated N30.1 billion energy invoice debts for July 2019. The Federal Government had unbundled the Power Holding Company of Nigeria (PHCN) into 18 firms and sold...... more

NNPC announces oil discovery in North

NNPC announces oil discovery in North The Nigerian National Petroleum Corporation (NNPC) has announced the discovery of hydrocarbon deposits in the Kolmani River II Well on the Upper Benue Trough, Gongola Basin, in the North-Eastern part of the country. It would be recalled that drilling of the Kolmani River II Well was flagged-off in a colourful ceremony...... more

NNPC signs $2.5bn gas deal with NLNG

NNPC signs $2.5bn gas deal with NLNG State oil company Nigerian National Petroleum Corporation (NNPC), on Friday, said it had signed a $2.5 billion pre-payment agreement with Nigeria LNG (NLNG) for upstream gas development projects. NLNG, which produces liquefied natural gas (LNG) for export, is owned by state-run Nigerian National Petroleum Corporation (NNPC) and foreign energy firms Royal...... more

Entrepreneurship panacea to unemployment, national challenges, says Fayemi •Ekiti to invest in 2,000 young entrepreneurs

Entrepreneurship panacea to unemployment, national challenges, says Fayemi •Ekiti to invest in 2,000 young entrepreneurs  Ekiti State Governor, Dr Kayode Fayemi, has identified the development of entrepreneurship as a major solution to unemployment and various challenges facing the country in the health, housing, agriculture and security and other sectors of the economy. Speaking at the opening session of the first Ekiti State Entrepreneurship Week, in Ado-Ekiti...... more

Nigeria seeks $62 bln from oil companies

Nigeria seeks $62 bln from oil companies Nigeria is seeking $62 billion from oil companies under regulations that allow the government to revisit revenue-sharing deals on petroleum sales if crude prices exceed $20 a barrel, the attorney general told Reuters on Thursday. The government in Africa’s largest oil exporter relies on oil for some 90% of foreign exchange....... more

Bank offers N100bn project funding support to Imo Government

Bank offers N100bn project funding support to Imo Government A Nigerian Investment Bank, FSL Securities Limited has offered to assist Imo State Government in raising about N100 billion for infrastructural development in the State. The group made the disclosure during a meeting with the Deputy Governor of Imo State, Engr. Gerald Irona at the Government House, Owerri, Tuesday afternoon. In...... more

Access Bank offices sealed off over N175m tax

Access Bank offices sealed off over N175m tax The Kaduna State Internal Revenue Service (KDIRS) on Wednesday sealed off three branches of Access Bank within the metropolis over non-remittance of over N175 million pay-as-you-earn (PAYE) and withholding taxes. In an interview with newsmen after the exercise, the Legal Adviser to KDIRS, Mr Francis Kozah, said the branches of the...... more

Buhari, Economic Advisory Council meet behind closed doors

Buhari, Economic Advisory Council meet behind closed doors President Muhammadu Buhari on Wednesday in Abuja met behind closed doors with members of the recently constituted Economic Advisory Council (EAC). The News Agency of Nigeria (NAN) reports that the EAC, which was constituted on Sept. 16, replaced the Economic Management Team (EMT), headed by Vice President Yemi Osinbajo. The functions...... more

Eight DisCos risk license cancellation - NERC

Eight DisCos risk license cancellation - NERC The licenses of eight power distribution companies may be canceled for breaching section 74 of the Electric Power Sector Reform Act (EPSRA). According to the Nigerian Electricity Regulatory Commission (NERC), the power distribution firms include Ikeja, Abuja, Benin, and Enugu Discos. Others are Kaduna, Kano, Port Harcourt, and Yola Discos. NERC...... more

Buhari goes ahead with 7.5% VAT amidst public outcry

Buhari goes ahead with 7.5% VAT amidst public outcry Despite public outcry and the existence of the Communication Service Bill in the Senate, which intends to place a 9% tax on Nigerians, President Muhammadu Buhari has forwarded an amendment Bill to the National Assembly to raise Value Added Tax (VAT) on products from 5 to 7.5%. The President made the...... more

NIPOST mail system collapses as contractors withdraw services nationwide

NIPOST mail system collapses as contractors withdraw services nationwide Distribution of mails, parcels and cargo by the Nigeria Postal service (NIPOST) has been paralysed nationwide, following the withdrawal of operational vehicles by the agency’s private operator-partners over non-payment for services rendered over many months. NIPOST relies entirely on the collaboration with no fewer than ten private-sector partners who provide built-up...... more

FEC approves N727bn NASS increment on 2020 Budget

FEC approves N727bn NASS increment on 2020 Budget The Federal Executive Council (FEC), on Monday, accepted the increase in the Medium Term Expenditure Framework (MTEF) by the National Assembly from N10.002 trillion to N10.729 trillion. It was gathered from a reliable source that the Extraordinary FEC meeting chaired by President Muhammadu Buhari over the 2020 Budget gave the approval....... more

Ekesons makes history with first class cabin in road buses

Ekesons makes history with first class cabin in road buses A unique niche has been created in the public transport sector by E. Ekesons Bros Nigeria Limited with the introduction of a truly First Class travel experience on some of its fleet of buses. The buses which are already on ground and offering services, are fitted with a segmented First Class...... more

Entrepreneurship: First Bank partners with group to train students

Entrepreneurship: First Bank partners with group to train students Dr. Adesola Adeduntan, Chief Executive Officer, First Bank Nigeria, says its partnership with Junior Achievement Nigeria (JAN) will inculcate leadership skills, confidence and professional excellence for the benefit of students and the society. Adeduntan said this in Lagos during the Junior Achievement Nigeria National Company of the Year Competition (NCOY). The...... more

CBN injects $311.5m, CNY15m into Forex market

CBN injects $311.5m, CNY15m into Forex market The Central Bank of Nigeria (CBN) on Friday, October 4, 2019, made an intervention of $311.5million in the retail Secondary Market Intervention Sales (SMIS) and CNY 15million in the spot and short-tenored forwards segment of the inter-bank foreign market. The Director, Corporate Communications Department at the CBN, Mr. Isaac Okorafor, confirmed...... more

Fidelity Bank set to give out N120m in ‘Get Alert In Millions Season 4’

Fidelity Bank set to give out N120m in ‘Get Alert In Millions Season 4’ Top Nigerian lender, Fidelity Bank Plc, on Thursday announced the introduction of a new savings campaign in Lagos, as part of concerted efforts to promote the culture of savings amongst Nigerians. The Savings campaign which will ride primarily on digital technologies is one of the many initiatives of the bank aimed...... more

NIPR, Microsoft to organise ICT training for university undergraduates

NIPR, Microsoft to organise ICT training for university undergraduates The Nigerian Institute of Public Relations (NIPR) has concluded plans to partner with Microsoft, to develop the capacity of communication arts undergraduates in the area of ICT. Mr. Franklyn Ginger-Eke, Chairman, NIPR’s 2019 Annual General Meeting and Conference planning committee made this known on Thursday in Abuja while making a presentation...... more

 

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