Elder statesman, Edwin Clark, has asked President Muhammadu Buhari to immediately implement the Governor Nasir El-Rufai-led committee of the 0All Progressives Congress (APC) report on true federalism. Clark, who is the leader of the Pan-Niger Delta Forum (PANFEF), told newsmen at his Abuja residence on Wednesday that true federalism remains the solution to the multiple […]
The price of petrol at N165.89 per litre in Nigeria is the third cheapest in Africa and the lowest in West Africa. Using the FX rate of N411.64 per dollar (I&E), findings by TheCable Index showed that the price also places Nigeria as the seventh cheapest nation in terms of fuel pump price in the […]
. . Nigeria Union of Petroleum and Natural Gas Workers, NUPENG, has extended its nationwide strike notice by seven days following the intervention of Nigeria National Petroleum Corporation, NNPC. The 14 days strike notice earlier issued by the Union over pending issues with Chevron Nigeria Limited, CNL, Nigeria Agip Oil Company, NAOC, National Petroleum Development […]
Members of the committee during the submission of its budget. Photo: Facebook/Senator Solomon Olamilekan Adeola The Chairman Senate Committee on Finance, Senator Solomon Adeola, has disclosed that there is no provision in the 2022 budget for the monthly N5,000 transportation allowance for 40 million Nigerians intended to cushion the effect of the planned petroleum subsidy […]
Zainab Ahmed, minister of finance, budget and national planning, says the government can no longer sustain petrol subsidy payments which currently stand at about N250 billion monthly. Briefing state house correspondents after the federal executive council (FEC) meeting presided over by President Muhammadu Buhari on Wednesday, Ahmed said the payments were no longer sustainable. The […]
The Nigerian naira weakened further against the dollar at the parallel market on Wednesday to trade at N560 per dollar. The figure is N15 or 2.8 percent lower than the N545 it traded last week. Street traders across forex markets in Lagos who spoke to TheCable on Wednesday quoted the naira at N560 to a […]
The National Drug Law Enforcement Agency (NDLEA), has dismissed reports that N4.5 billion was padded into its proposed 2022 budget. In a statement on Wednesday by its Director, Media and Advocacy, Femi Babafemi, the agency said it has been bombarded with calls and messages since Tuesday, seeking clarification on an alleged insertion of N4.5billion for […]
The World Bank has said that economic growth in Nigeria is being threatened by certain macroeconomic challenges, including dollar shortage, petrol subsidy and the fiscal deficit financing by the Central Bank of Nigeria. The bank disclosed this in its Nigeria Development report, which was released on Tuesday. The report identified measures taken by the government […]
The Minister of State for Petroleum, Timipre Sylva, has said that the President, Major General Muhammadu Buhari (retd.), is mindful and concerned about the increased price of gas; vowing to take action to address the situation, especially as the Yuletide draws near. Sylva said this on Tuesday while addressing State House correspondents after a meeting […]
Malam Mele Kyari, Group Managing Director and Chief Executive Officer of Nigerian National Petroleum Company Limited, has said that subsidy would have been eliminated in 2020 but certain factors prevented it. He, however, said that the law provides that by the end of February 2022, the nation should be out of the subsidy regime. He […]
