The Federal Government has processed $98m and N17.2bn as partial payments for the ongoing rehabilitation of the Port Harcourt Refining Company, it was learnt on Friday. It was also gathered that the government had made an initial payment of $194m, being the 15 per cent advance payment required for the rehabilitation of the facility, […]
Nigeria may have to continue to borrow due to the suspension of the removal of fuel subsidy, the Presidency said on Wednesday. The President’s Special Adviser on Media and Publicity, Femi Adesina, stated this during an interview on Channels Television’s breakfast programme, Sunrise Daily. “Head or tail, Nigeria will have to pay a price,” he […]
Amid the controversy trailing the planned removal of fuel subsidy, Mr Femi Adesina says the Federal Government did not rescind its decision because of the coming elections. Adesina, the President’s Special Adviser on Media and Publicity, stated this on Wednesday in Abuja when he featured as a guest on Channels Television’s Sunrise Daily. “It is […]
Imo State Governor, Hope Uzodimma, has announced the commencement of implementation of the 2022 budget of amounting to N381.4 billion. Special Adviser to the governor on Public Enlightenment, Eze Ugochukwu, explained that the budget comprised 74 per cent capital expenditure of N284.7 billion, while recurrent expenditure amounted to N96.7 billion anchored on the administration’s of […]
Senate President Ahmad Lawan has urged security agencies to tighten border security to checkmate smuggling of petroleum products out of Nigeria. He said the country could no longer afford the smuggling of petroleum products out of the country owing to the huge cost on the government’s resources. Lawan spoke Tuesday when he met with heads […]
The Nigeria Labour Congress (NLC) announced Tuesday it has suspended its proposed nationwide protest action over petrol subsidy removal. The NLC president, Ayuba Wabba, made this announcement on Tuesday while speaking with journalists in Abuja. NLC had in December fixed January 27 and February 2 for its protest across 36 against the subsidy removal. The […]
The International Monetary Fund (IMF) has reaffirmed a growth rate of 2.7 percent for Nigeria in 2022. This growth projection is 0.1 percent higher than the 2.6 percent IMF’s forecast in October 2021. IMF disclosed this in its latest World Economic Outlook (WEO) report released on Tuesday. It also raised the 2023 projection from an […]
A report by Agusto & Co. Limited has estimated that the Federal Government’s local currency debts will rise to N44tn in 2022. This was disclosed in a report, titled ‘Nigeria in 2022’, on the economic outlook for 2022. It said, “Local currency debts of the FGN [Federal Government of Nigeria] will grow to about N44tn […]
The Nigeria Labour Congress (NLC) has vowed to continue with its planned nationwide rally on Thursday, despite the announcement by the Federal Government that it would no longer remove the fuel subsidy for now. NLC Deputy President, Joe Ajaero, during an interview on Channels Television breakfast programme Sunrise Daily, explained that the rally is aimed […]
President of the Nigerian Bar Association (NBA), Olumide Akpata, says the decision to postpone the removal of fuel subsidy is not far from the forthcoming general elections. He stated this on Monday during his appearance on Channels Television’s Politics Today, hours after the government said it would postpone the removal of fuel subsidy earlier scheduled […]
