Ahead of the review of the revenue sharing formula scheduled to start on Thursday, there are strong indications that state governors may demand 42 per cent of the federal allocation as against the 26.72 per cent they currently get. The governors are also asking that the share of the Federal Government be slashed from the […]
Month: August 2019
Recruitment: NDLEA urges applicants to exercise patience against initial rush
The National Drug Law Enforcement Agency (NDLEA) has urged applicants of the 2019 recruitment exercise to be patience over the inability to access the site. NDLEA NDLEA Mr Jonah Achema, Head of Public Affairs, NDLEA, said in an interview with the News Agency of Nigeria (NAN) on Friday in Abuja that the hitch was associated […]
African Games: 462 athletes, officials to depart for Morocco, Aug. 15
The Federal Government says it has completed arrangement for Team Nigeria, comprised of 462 athletes and officials, to depart Nigeria for the African Games in Morocco on Aug. 15. Mr Olusade Adesola, Permanent Secretary, Ministry of Youth and Sports Development disclosed this on Wednesday in Abuja at a media briefing. The contingent would be transported […]
Naira closes at N359.3 to dollar at parallel market
The Naira on Thursday was sold at N359.3 to the dollar at the parallel market in Lagos. The Pound Sterling and the Euro closed at N450 and N396, respectively. At the Bureau De Change (BDC) segment, the naira traded at N359.3 to the dollar, while the Pound Sterling and the Euro closed at N450 and […]
Oil Rises As Market Awaits Saudi Move Counter Glut
Despite another gloomy demand forecast out today, oil prices rose on Friday morning, following reports that OPEC’s kingpin Saudi Arabia is talking to other producers to devise a new strategy to stop the oil price slump. As of 08:50 a.m. EDT on Friday, WTI Crude was up 1.16 percent at $53.15, and Brent Crude was […]
17 power stations shut down output as demand slumps
Seventeen of the nation’s 27 power stations have been forced to shut down some of their units on the back of low demand by electricity distribution companies, worsening the blackout being experienced by millions of customers across the country. Total power generation in the country dropped to 2,842.1 megawatts as of 6am on Thursday from […]
Ighalo faces disciplinary action over social media activities
Retired Nigeria striker, Odion Ighalo, will face disciplinary action following his activities on social media. His club, Shanghai Shenhua, made this known in a press statement released via Weibo on Thursday. According to the statement, Ighalo violated the Chinese side rules and regulations on social media by uploading pictures of his rehabilitation in Spain. Ighalo, […]
Demand for Nigerian oil lowers as U.S. competition increases
Nigerian oil has suffered its slowest sales of the year in August, traders said, as U.S. exports of competing light, sweet grades flood traditional markets in Europe and Asia. The changes illustrate how U.S. President Donald Trump’s strategy for “energy dominance” is reshaping oil markets worldwide, as U.S. oil exports surged 260,000 barrels per day […]
World Bank’s commitment to Nigeria now $11 billion — Country Director
The Country Director, World Bank Group, Rachid Benmessaoud, says the bank’s net commitment to Nigeria over the years is about $11 billion. He said this on Thursday in Abuja at the maiden edition of the Nigeria Portfolio Performance Award. Organised in partnership with the Ministry of Finance, the award was to recognise and honour outstanding […]
Airports Ready For Eid-El-Kabir Celebration —FAAN
By Foster Obi Federal Airports Authority of Nigeria (FAAN) said it is assuring all airport users that Nigerian airports under its management are fully ready to play host to air travelers during this Sallah celebrations. A statement signed by Henrietta Yakubu , General Manager, Corporate Affairs noted that “as part of our commitment to ensure […]