OPEC reaches deal to cut output

OPEC reaches deal to cut output

The OPEC oil cartel reached a deal Wednesday to reduce its output for the first time in eight years, Qatar’s energy minister and president of the OPEC conference said. The reduction by OPEC will be “1.2 million barrels per day, to bring its ceiling to 32.5 million barrels per day,” Mohammed Bin Saleh Al-Sada told a […]

Senate asks NCC to stop policy immediately

Senate asks NCC to stop policy immediately

The Nigerian Senate has asked the Nigeria Communication Commission, NCC, to immediately halt the proposed Internet data tariff hike. The new data tariff regime is billed to commence Thursday, December 1, after the NCC had communicated the telecommunications companies and asked the big operators, namely MTN, Glo, Etisalat and Airtel, to hike data price. The […]

Edo Govt partners World Bank, FG on Poverty Reduction

The Edo state Government has entered into partnership with the World Bank, the Federal Ministry of Finance as well as that of Budget and National Planning to assist the state efficiently execute its poverty reduction schemes.

Edo Govt partners World Bank, FG on Poverty Reduction

The Edo state Government has entered into partnership with the World Bank, the Federal Ministry of Finance as well as that of Budget and National Planning to assist the state efficiently execute its poverty reduction schemes. A statement by the Chief Press Secretary, Mr. John Mayaki said the partnership is a fallout of the visit […]

Oil price may fall to $44, says Kachikwu

The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has said crude oil price may fall to $44 per barrel if the Organisation of Petroleum Exporting Countries fails to reach a consensus this week.

Oil price may fall to $44, says Kachikwu

The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has said crude oil price may fall to $44 per barrel if the Organisation of Petroleum Exporting Countries fails to reach a consensus this week. The Federal Government has proposed a crude oil benchmark price of $42.5 per barrel for the 2017 budget, compared to […]

Accused of N2.4 billion forgery, Innoson motors wants judge to hands off case

Justice Saliu Saidu of the Federal High Court in Lagos on Friday fixed January 26, 2017, to hear an application to `recuse’ himself from a N2.4 billion suit against Innosson Nig. Ltd.

Accused of N2.4 billion forgery, Innoson motors wants judge to hands off case

Justice Saliu Saidu of the Federal High Court in Lagos on Friday fixed January 26, 2017, to hear an application to `recuse’ himself from a N2.4 billion suit against Innosson Nig. Ltd. Innosson Nig. Ltd, Innocent Chukwuma , Charles Chukwuma Maximian Chukwuma, Mitsui Osk Lines `C’ and Anajekwu Sunny are facing trial before the court […]

Nigerian economy sinks deeper into recession

Nigerian economy sinks deeper into recession

Goods and services produced in Nigeria between July and September 2016 have dropped lower as the nation grapples with economic slow down. Companies and other economic agents in the country are producing far below their capacities as Nigeria’s economic slump deepened with oil production falling and factory output hard hit by shortage of foreign exchange. […]

Budget 2016: FG spends N3.577tr in 9 months – Udoma

Budget 2016: FG spends N3.577tr in 9 months – Udoma

*Spends N1.1tr on debt service The Minister of Budget and National Planning, Senator Udoma Udo Udoma, yesterday, said that the Federal Government has spent N3.577 trillion as at September out of the N6.06 trillion budgeted for 2016. He disclosed this in Lagos at the KPMG CFO Forum saying: “The Federal Government has spent about N3.577 […]

Nigerian government Invites Russian farmers to engage in local agric production

Nigerian government Invites Russian farmers to engage in local agric production

Foreign exchange constraints and the availability of arable land in Nigeria makes the case for improved local agricultural production in Nigeria an imperative, rather than continued importation with its significant pressure on dwindling foreign earnings of the country. Vice President Yemi Osinbajo, SAN, gave this explanation earlier today while receiving in his office a Russian […]

Naira falls at interbank market

Naira falls at interbank market

The Naira on Monday fell freely at the official interbank market to exchange at N350 to a dollar from N328 it traded last Friday. At the Bureau De Change segment, the naira closed at N385 against the dollar, CBN rate, while the Pound Sterling and the Euro closed at N564 and N510 respectively. Trading at the […]

Investment inflow into Nigeria rises by 74% to $1.8bn – NBS

The National Bureau of Statistics on Monday released the capital importation report for the third quarter of 2016 with the country recording an increase of 74.84 per cent in investment inflow from $1.04bn in the second quarter to $1.82bn. The bureau in the report which was made available to our correspondent in Abuja, however, stated […]