will not experience petrol scarcity in December and beyond, as it has made adequate arrangements for supply. Mr. Umar Ajia, the Chief Financial Officer of NNPC ltd, said this in Abuja on Monday when he appeared before an ad hoc committee of the House of Representatives on the fuel subsidy regime in Nigeria. Ajia […]
Nigeria Labour Congress (NLC) at a public presentation of a publication titled, “Contemporary History of Working Class Struggles.” Ngige stated that the increment in the minimum wage was necessary due to the current global inflation that has impacted on citizens’ purchasing power. President Muhammadu Buhari, in 2019, signed Minimum Wage Act into law. […]
The Nigeria Labour Congress, NLC, on Saturday said that its support for the Labour Party, LP for the 2023 general election has not changed its position on petrol subsidy. The NLC has opposed attempts by the government to remove subsidies without first of all repairing the nation’s refineries to work effectively. The Labour […]
The Senate, through its Committee on Finance, has disagreed with the Minister of Finance, Budget and National Planning, Zainab Ahmed, as well as heads of revenue generating agencies in the country on the proposed 2023 – 2025 Medium Term Expenditure Framework (and Fiscal Strategy Paper. The finance minister at the interactive session held on […]
The United States of America, USA and Nigeria have agreed to work together to develop the Federal Government programme of using gas as a transitional fuel in the push to reduce carbon emission. With the agreement, Nigeria is expected to benefit from the $12 billion Emergency Programme for Adaptation and Resilience put in place […]
Atiku Abubakar, the presidential candidate of the Peoples Democratic Party (PDP), says Nigeria is currently being dressed in borrowed robes. Abubakar said the All Progressives Congress-led government has distorted the economy since 2015, adding that basic commodities are now beyond the reach of ordinary Nigerians. The PDP standard bearer spoke on Tuesday at the […]
Price controls and low production are the major reasons stopping Nigeria from profiting from the global oil boom. The Economist said this in a new report published over the weekend. The report said oil exporters in the Middle East and Central Asia are “cock-a-hoop, as they may pocket over $320 billion in oil revenues […]
The Central Bank of Nigeria (CBN) says it injected $7.6 billion into the economy in five months through foreign exchange sales to authorised dealers. The apex bank said this in its monthly economic reports for May 2022. According to the report, CBN said it intervened in the FX markets to stabilise the value of […]
The presidential candidate of Labour Party, Mr. Peter Obi has said that Nigeria should borrow for production like other western countries, noting that All the G-7 countries borrow. He said there is nothing wrong with debt, but we should use debt to keep our economy growing. Obi made this disclosure during his consultation with […]
More worries for the Nigerian government as crude oil production dropped below the one million mark in August 2022. Checks by TheCable showed that oil output averaged 972,394 barrels per day (bpd) for the month, hitting an all-time low. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) disclosed this in its latest crude oil and […]
