The assessed wastes and costs to the economy, associated with the 13-year old fuel subsidy regime operated by the Federal Government have irked economic analysts, who now renew calls for its end. The situation, described as detrimental to socio-economic developments, has seen the country spend no less than N10 trillion on petrol import subsidy between […]
The market, which opened the month at 31,721.76 basis points with a market capitalisation of N11.830bn, rose to its highest point on March 5 at 32,173.66bps with a market capitalisation of N11.998tn. It, however, closed at 31,041.42bps with a market capitalisation of N11.672tn on March 29, the last trading day of the month. The analysis […]
The Independent Petroleum Marketers Association of Nigeria has urged the Federal Government and the Nigerian National Petroleum Corporation to ensure that private depot owners maintain the official ex-depot price of Premium Motor Spirit (petrol) at N133.28 per litre. The Chairman, IPMAN, Ore Depot, Mr Shina Amoo, who said this in an interview with our correspondent […]
By Foster Obi Leading Electricity Distribution Company, Ikeja Electric (IE) is partnering foremost mobile phones sales/support services company, Slot Foundation, to train 40 youths on repairs of Phones, Laptops and other mobile devices. The training, which is a Corporate Social Responsibility (CSR) initiative, will be held at the Slot Academy and will benefit 40 youths […]
The Presidential Enabling Business Environment Council says it has commenced reforms towards making property registration and construction permits easy in all states across the country. PEBEC was set up in 2016 by President Muhammadu Buhari to address constraints to doing business and make the country a progressively easier place to start and grow a business. […]
The Nigerian Navy (NN) says the Chief of the Naval Staff, Ibok-Ete Ibas, a Vice Admiral, has approved a major re-organisation of the upper echelon of the Nigerian Navy. The Navy spokesperson, Suleman Dahun, a Commodore, announced this in a statement on Monday in Abuja. ” 32 Rear Admirals senior officers were affected in this […]
The Federal Government will revert to the January to December budget cycle, beginning with the 2020 national budget. The Minister of Budget and National Planning, Udoma Udo Udoma, stated this in Abuja when he defended his ministry’s 2019 budget in the Senate. Udoma expressed the executive’s willingness to comply with the provisions of the Fiscal […]
A major new inquiry into oil companies operating in the Niger Delta has been launched by the Archbishop of York, John Sentamu. The probe will investigate “environmental and human damage” in Nigeria’s vast oil fields. “This Commission will investigate the human and environmental impact of multinational oil company activity and is crucial to the prosperous […]
A federal high court, Lagos has given the Socio-Economic Rights and Accountability Project (SERAP) a go-ahead to compel the Minister of Power, Works and Housing, Babatunde Fashola, to name the contractors that allegedly collected money but refused to execute electricity projects in the country. The ruling was sequel to a suit filed by the rights […]