months

Nigeria loses 22mb of crude oil in 6 months – Gov. Obaseki

Nigeria loses 22mb of crude oil in 6 months – Gov. Obaseki

August 30, 2019 8:36 am

Edo Governor,  Godwin Obaseki said the nation lost about 22 million barrels of its crude oil production to oil theft between January and June 2019.

Obaseki disclosed this in a statement issued by Mr Ndu Ughamadu, the Spokesman for the Nigerian National Petroleum corporation( NNPC) in Abuja on Thursday.

He said that if nothing was done to curtail the ugly trend, the figure could double by the end of the year.

The governor, also the Chairman of the Ad-hoc Committee of the National Economic Council on Crude Oil Theft spoke at a stakeholders meeting held at the NNPC towers .…

Ihedioha has wasted over ₦70 billion in 3 months - Okorocha

Ihedioha has wasted over ₦70 billion in 3 months – Okorocha

August 24, 2019 1:19 am

Immediate past governor of Imo State, Rochas Okorocha has accused his successor, Emeka Ihedioha of being arrogant, anti-masses and mismanaging over ₦48 billion he left behind barely three months in office. In this interview with STANLEY UZOARU,  he also spoke on the alleged attacks on his family and government properties recovered from his wife as well as daughter’s shops. He also attacked his party, the APC for lying against him before President Buhari during the last general elections.

 

What do you think about the idea of a panel set up by the Imo State government to probe …

Imo retirees lament non-payment of over 80 months pensions

Imo retirees lament non-payment of over 80 months pensions

August 15, 2019 12:40 am

Imo retirees, under the aegis of Nigerian Pensions Union (NPU), yesterday lamented over 80 months pension arrears owed members by the state government.

Secretary of the State Chapter of the NPU, Livinus Ashiegbu, who spoke on behalf of the retirees on an Owerri-based private radio station, Hot FM discussion programme, said that as of last week, data record obtained by them indicated that over 100 of their members had died without receiving several months arrears of their pensions largely owed by the immediate past administration in the state.

According to him, retirees of the Alvan Ikoku Federal College of Education…

994 Nigerians deported from Ghana in 18 months

994 Nigerians deported from Ghana in 18 months

July 19, 2019 12:15 am

The Federal Government said 994 Nigerians have been deported from Ghana through the land borders in the last 18 months.

The chairman, Nigerians in Diaspora Commission, Mrs. Abike Dabiri-Erewa, explained that 508 Nigerians were deported within the last six months, while 486 were repatriated in 2018.

She disclosed this in Abuja yesterday while meeting a Nigerian professor, Augustine Nwagbara, who was sacked by the University of Education, Winneba, Ghana, for incitement.

Read Also: Mass deportation ‘starting fairly soon,’ says Trump

Dabiri-Erewa cautioned that the continent would suffer should Nigeria treat other nationals in the same manner. She said, “It …

NNPC reports $226m oil revenue drop in June

NNPC Refineries record deficits of ₦141b within 13 months

June 20, 2019 1:52 am
Refineries operated by the Nigeria National Petroleum Corporation (NNPC), recorded deficits running into N141billion within 13 months, between January 2018 and January 2019.Indeed, the sum is capable of addressing capital projects in critical sectors of the economy as captured in the 2019 Budget.

A breakdown showed that the losses are capable of funding projects worth N80.29billion, which are expected to drive the agriculture sector in order to address food insecurity and set the economic diversification drive of the current administration on track.

Without borrowing, the current losses would have taken care of practically all capital allocations for health, education, as

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CBN reveals $14.2bn capital flows to Nigeria in five Months

CBN reveals $14.2bn capital flows to Nigeria in five Months

June 18, 2019 2:48 am

Total capital flows to Nigeria between January and May 2019, stood at $14.2 billion, the Central Bank of Nigeria (CBN) revealed last night.

Of the aforementioned amount, Foreign Direct Investment (FDI) accounted for $2.87 billion, representing 20.18 per cent of the total amount.

The CBN revealed this in a statement that was signed by its Director, Corporate Communications, Mr. Isaac Okorafor, while reacting to a Reuters report which stated that FDIs in the country dropped last year.

The apex bank said its attention was drawn to the news item on Reuters quoting the World Investment Report, 2019, recently released by …

CBN reveals $14.2bn capital flows to Nigeria in five Months

Nigerian banks borrow ₦12 trillion from CBN in six months

June 3, 2019 12:46 am

The nation’s Deposit Money Banks have made frequent visits to the facilities’ window of the Central Bank of Nigeria (CBN) in the last six months, resulting to ₦12.09 trillion borrowings. Meanwhile, CBN Governor, Godwin Emefiele, would kick off his second term in office tomorrow, having earlier been confimrmed by the National Assembly.

He is now expected to roll out new initiatives and pursue full implementation of ongoing policies in banking supervision and stability; robust microfinancing; price stability through inflation management; sustenance of the unconventional policy to support the ailing economy; and foreign exchange management, among others.

The banks continued to …

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