Recent report by the United Nations shows that Nigeria lost an estimated 2.8 billion dollars in revenues in 2018, mainly due to oil-related crimes. The report emanated from the Secretary-General on the activities of the United Nations Office for West Africa and the Sahel (UNOWAS)’ on Monday in New York. The document, which covered from […]
The Nigerian Electricity Regulatory Commission (NERC), says only four out 11 Electricity Distribution Companies (DisCos) in the country have metered up to 50 per cent of customers under their franchise areas. Fashola, electric meter NERC in its 2018 second quarter report published on its website also revealed that only about 45 per cent out of […]
World Bank Group President Jim Yong Kim yesterday announced that he will be stepping down from his position after more than six years in which the institution’s shareholders provided strong support to multiple initiatives to ensure that the Bank Group retains strong leadership in the world of global development. “It has been a great honor […]
The Executive Chairman, Federal Inland Revenue Services (FIRS), Mr. Babatunde Fowler, has disclosed that the agency recorded its highest tax collection of N5.320 trillion in 2018. Fowler had disclosed that FIRS generated N5 trillion in the second week of December 2018 with a target to hit N5.3 trillion revenue at the end of last year. […]
Nigeria’s organised labour unions will proceed with a planned protest today over a new national minimum wage, after a last minute attempt by the federal government to forestall the demonstration failed Monday night. The federal government’s meeting with labour union leaders to avert a national protest over non-transmission of a new national minimum wage bill […]
Human trafficking is becoming more “horrific” in conflict zones, where armed groups keep women as sex slaves and use child soldiers to spread fear, the United Nations said on Monday, warning of widespread impunity. From girls forced to wed to boys made to cook and clean, militants are using trafficking as a tool to boost […]
There are reports of military coup in Gabon, as the military seized the state-owned radio station in the capital Libreville and a soldier read a speech, condemning President Ali Bongo’s new year speech. The soldier identified as Lieutenant Kelly Ondo Obiang announced the creation of a “National Restoration Council”, RFI radio in Africa reported. RFI […]
The Minister of Labour and Employment, Chris Ngige will lead the federal government team, including the Ministers of Finance and that of the National Budget and Planning to a crucial meeting today with the Nigerian Labour Congress (NLC), Trade Union Congress (TUC) and other labour unions, as part of his efforts to avert the planned […]
Suspected militants may have renewed hostilities against oil companies operating in the Niger Delta. For example, a group yesterday claimed it was behind the attack on an oil pipeline at Koluama community in the Southern Ijaw Local Government Area of the state. The Friday explosion reportedly damaged the pipeline belonging to Conoil. The group, Koluama […]
Crude oil futures continued to trade higher during mid-morning trade in Asia Monday, continuing on their upward rally seen from last Friday as markets await fresh leads from the resumption of trade talks between US and China. At 10:20 am Singapore time (0220 GMT), ICE March Brent crude futures were up 64 cents/b (1.12%) from […]