THE cost of transportation is on the increase across the country following the hike in the pump price of Premium Motor Spirit, popularly called petrol, in fillings stations in states. Motorists still besieged the few filling stations that dispensed PMS in Abuja and neighbouring Nasarawa and Niger states on Tuesday, as many outlets in […]
The Catholic Archbishop of Abuja, Most Revd. Ignatius Kaigama, Sunday urged President Muhammadu Buhari to listen to the cries of Nigerians and resolve the lingering fuel scarcity and the ongoing strike by the Academic Staff Union of Universities. Kaigama, in his homily at the dedication ceremony of Holy Cross Parish in Gwarinpa, Abuja, said […]
The nine oil-producing states in Nigeria shared N450.60 billion from the federation account through the 13 percent derivation formula in 2021. Data from the National Bureau of Statistics (NBS) showed that Delta, Akwa-Ibom, Bayelsa, Rivers, Edo, Ondo, Imo, Lagos and Abia received the fund. The 13 percent derivation fund comes from the federation revenue to […]
The Federation Accounts Allocation Committee (FAAC) has shared a total of N574.668 billion in January 2022 Federation Account Revenue to the Federal Government, states, and local government councils. This was contained in a communiqué issued at the end of a virtual meeting of the Federation Account Allocation Committee (FAAC) for February 2022. The N574.668 […]
Timipre Sylva, minister of state for petroleum resources, says the increase in prices of global crude oil is not good for the country. Speaking on the rising crude oil prices in an interview with Bloomberg Television, Sylva said that Nigeria’s comfort zone in terms of oil prices was between $70 and $80 per barrel. […]
The International Monetary Fund (IMF) says the expansion of eNaira for cross-border transfers and agency banking may boost money-laundering/financing of terrorism. The Bretton Woods institution said this in its recently released staff country report titled ‘Nigeria: 2021 Article IV Consultation’. In October 2021, the Central Bank of Nigeria (CBN) unveiled the country’s first Central […]
The Trade Union Congress (TUC) has threatened it would soon direct workers in statutory corporations and government-owned companies to stop going to work if the challenge of fuel scarcity across the country persists for the next few days. The Congress also demanded that President Muhammadu Buhari swing into action by identifying and punishing those […]
The federal government has asked Nigerians to exercise patience as it finds “lasting solutions” to the scarcity of premium motor spirit (PMS) in the country. Timipre Sylva, minister of state for petroleum resources, made the appeal on Sunday in a statement issued by Horatius Egua, his senior adviser on media and communications. The minister […]
Ahead of 2023 general elections, former Governor of Anambra State, Peter Obi, has said that for Nigeria to overcome her economic challenges, Nigerians must ensure the enthronement of visionary leaders in coming elections. Obi, who was running mate of former Vice-President Atiku Abubakar during the 2019 presidential election, made this known in a series […]
Between January and December 2021, the Nigerian banking sector’s credit to the private sector rose by N5.1tn or 16.67 per cent, according to data obtained from the Central Bank of Nigeria. This was contained in the Money and Credit statistics released by the regulator. The report showed that credit to the private sector stood […]
