Oil prices fell for a second day on Friday, pressured by a surprise rise in U.S. stockpiles as the coronavirus pandemic continues to erode demand for fuels. Brent crude was down 18 cents, or 0.5 per cent at $39.88 a barrel by 0337 GMT, after falling nearly two per cent on Thursday. U.S. crude dropped […]
Mr Timipre Sylva, the Minister of State for Petroleum Resources says the Federal Government’s decision to fully remove subsidy from petrol will save the country ₦1trn annually and create massive jobs. Sylva, who said this on Thursday, while speaking with newsmen in Abuja, said that beginning from October, Nigerians “can now convert cars using petroleum […]
• Nigeria ’ s debt rises by N2 . 38 tn , hits N 31 tn – DMO • FG – N 25 . 28 tn , states – N5 . 73 tn • Lagos, Rivers , Akwa Ibom post highest debts Nigeria ’ s debt public debt hit a total of N 31. 01tn […]
……..Says new development plan will lift 100 Million Nigerians out of poverty by 2030 President Muhammadu Buhari Wednesday in Abuja inaugurated the National Steering Committee to oversee the development of the Nigeria Agenda 2050 and Medium-Term National Development Plan (MTNDP) to succeed Vision 20:2020 and the Economic Recovery and Growth Plan (ERGP) 2017 – 2020. […]
The Cross River Government says it has diversified its revenue generation from crude oil to cocoa. Dr Oscar Ofuka, Special Adviser to Gov. Ben Ayade on Cocoa Development and Control, made this known in an interview with News Agency of Nigeria (NAN) on Wednesday in Abuja. Ofuka said the state government’s decision followed the dwindling […]
The Federation Accounts Allocation Committee shared N 3. 879trn to the Federal Government , states , local governments , and other statutory recipients in the first half of this year , the Nigeria Extractive Industries Transparency Initiative has said . A breakdown of the disbursements showed that N 1. 53tn went to the Federal Government […]
…Hails Makinde’s giant strides in Oyo Former Minister of Aviation and chieftain of the Peoples Democratic Party (PDP), Chief Femi Fani-Kayode has condemned the increase in the pump price of petrol and electricity tariff, calling on the federal government to be sensitive to the plight of the masses. Fani-Kayode who spoke in Ibadan, the Oyo […]
The presidency said that President Muhammadu Buhari demonstrated “ right courage” to take recent decisions that led to hike in fuel price and electricity tariff among others . It said such decisions were long overdue but successive governments before Buhari ’ s lacked courage to take bold decisions. The Senior Special Assistant to the President […]
Oil prices nudged up on Monday, with Brent futures set to post a fifth straight monthly gain, as global stimulus measures underpin prices even as demand struggles to return to pre-COVID levels in a well-supplied market. Brent crude futures for November climbed 28 cents or 0.6 per cent to $46.09 a barrel by 0435 GMT, […]
Subsidy on Premium Motor Spirit, PMS, also known as petrol, has once again resurfaced, as the Nigerian National Petroleum Corporation, NNPC, weekend, said it incurred N5.35 billion as under recovery in June 2020. Under-recovery, also known as subsidy, occurs when the pump price of petrol is lower than the actual cost price of the commodity. […]
