December 4, 2019

The Decline In Foreign Direct Investment

December 4, 2019 6:34 am
Despite the recent World Bank’s rating of Nigeria’s economy as one of the “most improved economies in the world,” especially in the Ease of Doing Business (EoDB) index, Nigeria is reportedly losing Foreign Direct Investment (FDI) inflows. In comparison with investor-friendly peers in Africa, Nigeria is at the bottom rung of foreign investment inflows. According to the latest National Bureau of Statistics (NBS) Capital Importation Report, investment inflows into the country declined from $5.82billion in the second quarter of this year to $5.36billion in the third quarter. 

The report also revealed that the third quarter inflow of $5.36billion represented a …

Retirees

FG Owes Pensioners Over ₦400bn, Says Senator

December 4, 2019 4:29 am

The Chairman of the Senate Committee on Establishment and Public Service, Ibrahim Shekarau, has claimed that the federal government currently owes retirees over N400 billion in accrued pension.

Shekarau said this at the second annual National Assembly retreat with the Pension Funds Operators Association of Nigeria (PenOp) held in Uyo, Akwa-Ibom State late on Monday.

He said the committee would work with the federal government to offset all the arrears, “even if it would be the only achievement that the ninth National Assembly would be remembered for.

Read Also: Saraki: EFCC Playing Politics, Witch-Hunting Enemies

“Government owes the accrued …

FG Laments High Oil Production Cost

December 4, 2019 4:28 am

The federal government yesterday expressed deep concern over the high cost of producing a barrel of crude oil and its attendant effects on the nation’s revenue.

According to the government, Nigeria’s input into the production of a barrel of oil remains one of the highest among all Organisation of Petroleum Exporting Countries (OPEC), adding that the high cost of production is affecting oil revenues and by extension threatening net revenue as well as stunting growth and development in the country.

Minister of State, Petroleum, Mr. Timipre Sylva, expressed the concern yesterday in Yenagoa, the Bayelsa State capital, at the ninth …

Zenith Bank Proud Of Delta Principals’ Cup Impact

December 4, 2019 4:27 am

Sponsor of the just-concluded Delta State Principals’ Cup football competition, Zenith Bank Plc, has expressed delight over the overall assessment of the fourth edition which ended at the Stephen Keshi Stadium in Asaba, on Thursday, November 28.

School of Commerce Warri defeated Zappa Mixed Secondary School 2-1 in the final to lift trophy and a brand new coaster bus.

Executive Director, Zenith Bank, Mr. Henry Oroh, who represented the Group Managing Director/Chief Executive of the bank, Mr. Ebenezer Onyeagwu, said the sports-loving outfit was proud of the youth developmental competition.

Oroh said: “I congratulate all the schools that participated in …

PDP, Dickson Lost Poll Due To Oversized Ego -APC

December 4, 2019 4:26 am

The All Progressives Congress (APC), has boasted that the Peoples Democratic Party (PDP) and the outgoing governor of Bayelsa State, Seriake Dickson, lost the governorship election, due to oversized ego.

The statement signed by the APC’s National Publicity Secretary, Mallam Lanre Issa-Onilu, taunted that following the resounding victory of the party’s governorship candidate, David Lyon, in the November 16 Bayelsa poll, the outgoing governor, Dickson has blamed everyone, including public institutions, but himself for the loss of the PDP and his governorship candidate who he tried unsuccessfully to foist on the state.

“If governor Dickson should stand before the mirror, …

Rumble In Saudi Arabia: Oboh Backs Joshua To Beat Ruiz Jr

December 4, 2019 4:26 am

Former Light Heavyweight boxing champion, Peter Oboh, has predicted that Anthony Joshua will take reigning champion, Andy Ruiz Jr, to the cleaners, when both meet on Saturday, in Saudi Arabia, for the rematch.

Joshua was, on June 1, 2019, at Madison Square Garden in New York City, New York, U.S. beaten by Ruiz Jr.

Joshua was originally scheduled to face undefeated WBA no. 2 and WBO no. 3 ranked heavyweight, Jarrell Miller, who was replaced by Ruiz Jr. after Miller failed three drug tests.

Speaking ahead of the rematch tagged ‘Rumble in Saudi Arabia’, Oboh said despite predictions by boxing

…

Messi Hints At Retirement

December 4, 2019 4:25 am

Lionel Messi has admitted on the back of his sixth Ballon d’Or triumph that “retirement is approaching”, but the Argentine hopes to enjoy “many more years” at the top and says Barcelona have nothing to worry about when it comes to his future.

That will comes as a relief to those at Camp Nou, with it having already been revealed that an all-time great has an exit clause in his current contract.

There has been no suggestion that it will be triggered, with Messi continuing to be a talismanic presence for the reigning La Liga champions.

His efforts have …

AFN Board Members Reject Ogba’s Resignation

December 4, 2019 4:25 am
Board members of the Athletics Federation of Nigeria (AFN) have described Evangelist Solomon Ogba’s resignation from the federation’s board as an attempt to divert attention from the $150,000 World Athletics grant given to the federation for the hosting of the 21st African Athletics Championships in Asaba, Delta State, last year.

Brown Ebewele, one of the board members, said Ogba should explain why the money was not paid into the federation’s account but a private account.

Ogba had, on Monday, resigned as a board member of the AFN citing unhealthy politics in the board and undue interference by the federal government …

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