General Overseer of Omega Fire Ministries, Apostle Johnson Suleman, in a post published via his official Twitter handle on Saturday accused the administration of former President Goodluck Jonathan of looting ‘so much money’ from the government treasury. Suleiman, a fierce critic of the current administration under President Muhammadu Buhari, wrote: “Someone asked me why I’m … Read more
The National Bureau of Statistics (NBS) said the country recorded a total trade value of N8.2 billion for the first quarter of 2019, representing a growth of 2.50 per cent when compared to the previous quarter, (fourth quarter, 2018). The NBS said this in its Foreign Trade in Goods Statistics for First Quarter of 2019 … Read more
Nigerian Vice President, Prof. Yemi Osinbajo, on Friday while inaugurating a landmark LPG cylinder manufacturing plant, built at Ajah, near Lagos by Techno Oil Limited said that the Federal Government has put measures in place to ensure that up to 13.8 million households in Nigeria embraced usage of Liquefied Petroleum Gas (LPG) for their cooking … Read more
A Lagos Division of the Federal High Court on Thursday adjourned until June 19, hearing in a debt recovery suit filed by the federal government against Shell Western Supply & Trading Ltd, over an alleged $406.7 million shortfall in crude oil shipment. The suit numbered FHC/L/CS/336/16 was filed by FG’s counsel, Fabian Ajogwu, a professor … Read more
Nigeria’s effort at ensuring the nation become a major producer of rice seems to be getting the desired fillip as the German government, with support from the Bill and Melinda Gates Foundation, has stated its commitment to provide €2 million for the implementation of the second phase of the Competitive African Rice Initiative (CARI) in … Read more
Nigeria’s Flying Eagles crashed out of the 2019 FIFA U-20 World Cup in Poland yesterday after a 2-1 loss to Senegal. To set up the meeting, Senegal topped their group which had Poland, Tahiti and Colombia while Nigeria barely managed to scrape through a group with Ukraine, USA and Qatar. In the match played in … Read more
Godwin Emefiele, Governor of the Central Bank of Nigeria, CBN, has begun his second tenure, following the confirmation of his re-appointment by the Senate on May 16. According to a statement by the Director Corporate Communications, Mr Isaac Okoroafor, Emefiele was sworn in by the Bank’s Secretary and Director, Corporate Secretariat Department, Mrs Alice Karau. … Read more
The Nigerian vice president, Professor Yemi Osinbajo has made it known on his Twitter handle that Nigeria would prevail. He says ”In the next four years, President Buhari has made it clear that we will be focusing our attention on human capital development and physical infrastructure. We will be working with States on education and … Read more
Babachir Lawal, a former secretary to the government of the federation (SGF), says he is qualified to lead Nigeria. In an interview with The Sun, Lawal said the constitution did not limit the presidency to any part of the country. He was speaking on the issue of zoning the 2023 presidency outside the north. “Every part … Read more
The Debt Management Office (DMO) has announced Nigeria’s total debt stock comprising external and domestic debts stand at N24.387 trillion. Director General of the DMO, Ms. Patience Oniha made this disclosure at the public breakdown of the nation’s public debt data in Abuja on Thursday. According to Oniha, “the Total Public Debt stood at N24.387 trillion … Read more
Chief of Defence Staff, CDS, General Abayomi Olonisakin, has defended the militarisation of the just concluded general election, saying if there was no such deployment of the military, the security situation in the country would have been jeopardised. Speaking yesterday in Abuja during the orientation programme for Senators-elect and members of the House of … Read more
Against the backdrop of the bad state of Nigeria’s refineries, the country may have spent about N10 trillion in the provision of pump price subsidy on imported petroleum products from 2006 to 2018. A research report by BudgIT, a public finance focused Non-Governmental Organisation, NGO, said this amount came from the price shocks in … Read more
Nigerian Council of Registered Insurance Brokers, NCRIB, has frowned at Nigerians poor attitude towards insurance and dependence on government for compensation after a major incident or disaster. Executive Secretary of NCRIB, Mr. Fatai Adegbenro, noted that insurance is the best form of risk transfer mechanism, adding that government cannot pay compensation the way the … Read more
Nigeria Employers’ Consultative Association, NECA, yesterday, praised President Muhammadu Buhari for declining assent to the National Housing Fund (Establishment) Bill 2018 sent to him by the National Assembly. NECA, in a statement, said the body was very happy that President Buhari directed that the Bill be returned to the National Assembly for amendment of the … Read more
Data compiled by Steve Hanke, an economist from John Hopkins University in Baltimore, United States, has classified Nigerians as the sixth “most miserable people in the world.” The Misery Index was calculated using economic indices including unemployment, inflation and bank lending rates. Venezuela, Argentina and Iran, the countries which topped the index, had high inflation … Read more
The Federal Government, yesterday, banned the use of Boeing 737 Max 8 and Max 9 planes by any airline operator in Nigeria airspace. The Ethiopian Boeing 737 MAX 8 plane had on Sunday crashed a few minutes after take-off in Addis Ababa, killing all 157 people aboard, including two Nigerians. But Air Peace airline … Read more
Independent National Electoral Commission, INEC, has dismissed speculations that it had altered its earlier plan to present Certificates of Return to newly-elected federal lawmakers, saying the event will go on today as scheduled. There were reports that the event had been shifted to March 23, but when contacted, Chief Press Secretary to INEC Chairman, … Read more
Stakeholders who gathered at the just- concluded maiden edition of the Nigerian Infrastructure Development Awards, NIDA, held in Lagos, have emphasized the need for rapid infrastructural development across the country to ensure national development. The theme of the event organized by Prospers Strategy Limited was Solid Infrastructural Backbone as Catalyst for National Development. In … Read more
FSDH Merchant Bank has called on the federal government to focus on addressing pressure points in the nation’s economy as a priority after the conclusion of the presidential election. Making this call at the media presentation of the bank’s monthly economic and financial market outlooks, Head of Research, FSDH Merchant Bank, Mr. Ayo Akinwunmi noted … Read more
Guaranty Trust Bank Plc has recorded 9.1 percent increase in its profit before tax which grew to N215.6 billion in the financial year ended December 31, 2018 from N197.7 billion in 2017. The bank disclosed this in its audited financial results for the year ended December 31, 2018 released to Nigerian and London Stock Exchanges. … Read more