The Group Chief Executive Officer of the Nigerian National Petroleum Commission Limited (NNPC Limited), Mele Kyari, has said that all Nigerians are the shareholders of the newly commercialized national oil firm. President Muhammadu Buhari had on Tuesday unveiled the new Nigerian National Petroleum Company Limited, a landmark event that officially changed the oil firm […]
The federal government has projected to spend N6.7 trillion on petrol subsidy payments in 2023. Subsidy or under-recovery is the underpriced sales of premium motor spirit (PMS), better known as petrol. Zainab Ahmed, minister of finance, budget and national planning, said this on Thursday at the presentation of the 2023-2035 Medium Term Expenditure Framework […]
Atiku Abubakar, presidential candidate of the Peoples Democratic Party (PDP), says he had plans to reform the Nigerian National Petroleum Company (NNPC) in 2018. Abubakar said this on the heels of the unveiling of NNPC Limited by President Muhammadu Buhari, in line with the provisions of the Petroleum Industry Act (PIA). In a series […]
The policy-setting committee of the Central Bank of Nigeria (CBN) has raised the monetary policy rate (MPR), which measures interest rate, from 13 percent to 14 percent to tame rising inflation. In June, Nigeria’s inflation rate reached a five-year high at 18.60 percent. The monetary policy rate (MPR) is the baseline interest rate in […]
The Nigerian National Petroleum Company Limited (NNPC) says it will ensure the provision of petroleum products to the federal government. Mele Kyari, group managing director, NNPC, said this during a pre-recorded interview with Channels Television on Sunday ahead of Tuesday’s unveiling of NNPC Limited as a commercial entity. In September 2021, the Corporate Affairs […]
Premium Motor Spirit popularly known as petrol will now be sold between N170/litre and N190/litre in filling stations across the country, following what is believed to be a subtle agreement between Federal Government officials and oil marketers. Findings by The PUNCH on Sunday revealed that the development was the outcome of a meeting between […]
ANAMBRA State governor, Prof Chukwuma Soludo, has sought the approval of the state House of Assembly for N100 billion loan. The House also yesterday passed the state’s 2022 revised budget presented by the governor last month. In a letter to the lawmakers, the governor said the loan facility would be used for the construction […]
Nigeria’s inflation rate recorded a seventh consecutive monthly rise to 18.6 percent in June. This represents a 0.9 percent point rise when compared to 17.7 per cent recorded in May. The National Bureau of Statistics, NBS, disclosed this today in its Consumer Price Index, CPI, Report which also stated that food inflation also increased […]
THE International Monetary Fund has said inflation, debt, and forex crisis is pushing the Nigerian economy and other African economies to the brink. The Managing Director of the IMF, Kristalina Georgieva, said ministers of finance and central bank governors on the continent disclosed this to her this week. She added that most countries on […]
The annual inflation rate of the United States reached 9.1 percent in June, the highest rate in almost 41 years. The Bureau of Labour Statistics (BLS) disclosed this on Wednesday in its latest consumer price inflation (CPI) report. It said the pace of the consumer-price index increased in June compared to May’s annual rate […]
