* S&P Says Nigeria’s fiscal consolidation remains slow, while economic growth is improving at slower pace than envisaged Source text (bit.ly/2GBQ5vF) (Reuters)
Author: Isaac Umunna
Oil prices soar as Brent crude hits approximately $70
Oil prices jumped on Friday, with Brent crude futures hitting their highest in more than two weeks as U.S. stock prices rose. Investors covered short bets ahead of a weekend in which the U.S. news programme “60 Minutes” will air an interview with Saudi Arabia’s crown prince. Brent futures rose to more than 66.42 dollars, […]
Nigeria active mobile phone lines 146m as at January—NCC
By Foster Obi The Nigerian Communications Commission (NCC) has said that the number of active mobile phone lines in the country rose to 146 million in January 2018, recording an increase of 2,233,467 lines from the 144,631 reached in December 2017 From NCC’s monthly Subscribers Operator Data posted on its website, the number of fixed […]
NNPC raises April Bonny Light, Qua Iboe crude oil OSPs
The Nigerian National Petroleum Company has raised the official selling price differentials for its mainstay crude grades Bonny Light and Qua Iboe in April, while other grades were mixed, Platts reports. The Bonny Light OSP was raised by 1 cent/b month on month to a premium of $1.17/b to Dated Brent for April, while the […]
Nigerians angry over lawmakers’ ‘outrageous’ monthly allowance
The revelation by a Nigerian Senator Shehu Sani that lawmakers in the upper house of parliament receive about $37,500 each month for personal expenses has prompted anger in the west African country, where most people live on less than $2 a day. Senator Sani, who represents people in the northwestern state of Kaduna, said Senate […]
UN staff take to the streets over pay cut
United Nations staff in Geneva has called a strike for Friday after winning support from 90 per cent of more than 1,000 employees who cast ballots, the staff council said. “The rare move will shut down the Human Rights Council and other meetings held at the UN European headquarters in the Swiss city,” it said […]
4 poorest countries to leap out of ‘poverty ranking’–UN
A UN expert committee has announced that four countries could soon “graduate” from the ranks of the world’s poorest and most vulnerable nations. The four countries are: Bhutan, Kiribati, Sao Tome and Principe and the Solomon Islands, according to Mr Jose Ocampo, chair of the Committee for Development Policy (CDP). Ocampo said the countries had […]
Shell, Eni Misled Nigeria on Oil Spills, Amnesty Says
Royal Dutch Shell Plc and Eni SpA may have misled regulators in Nigeria by wrongly attributing oil spills to theft and sabotage in order to avoid paying compensation to affected communities, rights group Amnesty International said. “Amnesty International researchers have identified that at least 89 spills may have been wrongly labeled as theft or sabotage […]
Nigeria: Experts decry lack of clear monetary policy direction
Some financial experts have condemned lack of monetary policy direction and delay in the passage of the 2018 appropriation Bill in the country. Some of them who spoke to the News Agency of Nigeria (NAN) on Thursday in Lagos said the situation was presently affecting foreign investors’ confidence in the Nigerian stock market. They said […]
Ambode bows to pressure, reduces land use charge
The Lagos State Government on Thursday bowed to pressure by slashing all levies as regards its new Land Use Charge (LUC) that had attracted open voices of dissent in the state. The reduction came two days after the Ikeja branch of the Nigeria Bar Association in Lagos marched against the new law, with its chairman, Mr […]