International oil major Shell and Nigerian stakeholder communities agreed to reopen the flow station for the Oil Mining Licence 25, the regional Rivers state governor said. Shell also agreed in the memorandum of understanding to pay money owed to the communities, according to the statement. The amount was not specified. Local communities had occupied the […]
The Organization of Petroleum Exporting Countries (OPEC ) on Monday night announced the re-election of Nigeria’s Mohammed Barkindo as Secretary General for a three-year tenure. Barkindo, who is an accomplished oil technocrat with a wealth of experience in the oil and gas sector, was first elected as Secretary General of the bloc in 2016. Addressing […]
President Muhammadu Buhari on Monday sacked the embattled Executive Secretary of the National Health Insurance Scheme, Usman Yusuf. This is coming ten months after he was suspended from office by the governing council of the agency. The governing council is empowered by the NHIS Act to oversee operations of the scheme. Mr Yusuf has been […]
The Joint National Public Service Negotiating Council and the eight unions in the public service across the country on Monday said its members would embark on industrial action over what they perceived as Federal Government’s persistent effort to derail the implementation of the new national minimum wage of N30, 000. In statement signed by the […]
The Federal High Court in Abuja on Monday issued a bench warrant for the arrest of the President of the Nigeria Football Federation Amaju Pinnick and four other officials of the football body. Justice Ijeoma Ojukwu issued the order of arrest following the refusal of Pinnick and others to appear in court to answer to […]
NIGERIA’s public debt will rise above N27 trillion this year triggered by increased Federal Government borrowing to fund the 2019 budget. The nation’s debt stock has been on a steady and sharp upward trend since 2011, due to increased borrowing by the Federal Government and depreciation of the naira. Data by the Debt Management Office […]
Nigeria and South Sudan will request that their oil output quotas be raised, when ministers from the OPEC/non-OPEC producer coalition gather later Monday to discuss extending their supply cut accord, sources told S&P Global Platts. Both countries have seen their production surge in recent months to levels far in excess of their agreed caps, but […]
Nigerians were, on Sunday, thrown into darkness following a system collapse which affected power supply to electricity consumers. The Abuja Electricity Distribution Company (AEDC) had in a terse statement issued by its Spokesperson Oyebode Fadipe confirmed the outage which according to him occurred at about 9:10 a.m. He said this led to the loss of […]
The President, African Statistical Association, Prof. Dahud Shangodoyin, has said Nigeria’s dwindling economy led to loss of more jobs and an increase in unemployment rate to 23.1 per cent in June. He said given the increase in population and a continued increase in the number of job seekers, the federal, state and local governments could […]