Month: September 2016

  • NUJ Wants BRACED Commission Resuscitated

    NUJ Wants BRACED Commission Resuscitated

    By Our Correspondent Worried by incessant security breaches in the Niger Delta region, the Nigeria Union of Journalists (NUJ) has demanded the resuscitation of the BRACED commission; an economic block comprising the South-South States of Bayelsa, Rivers, Akwa-Ibom, Cross River, Edo and Delta, in order to deliberate on issues of common interest confronting the region,…

  • Recession: Investment inflow shrinks by N642bn

    Recession: Investment inflow shrinks by N642bn

    By Joseph Inokotong Nigeria’s economy recorded a total decline of $2.1bn in investment inflow in the first 12 months of the administration of President Muhammadu Buhari. The amount when converted based on the N305.5 per dollar official exchange rate of the Central Bank of Nigeria, translates to about N642bn. Investigations showed that since July 2015,…

  • REPs, FG May Clash Over Poor Implementation Of 2016 Budget

    REPs, FG May Clash Over Poor Implementation Of 2016 Budget

    To summon CBN Gov, Finance Minister *Orders release of N500bn Social Intervention Funds By Aaron Ossai Worried by the current economic recession and the accompanying hardship on Nigerians, the House of Representatives will on resumption from its recess on Tuesday September 20 summon the Central Bank of Nigeria, CBN governor, Mr. Godwin Emefiele and the…

  • Economic Recession: Bleak Sallah Celebrations

    Economic Recession: Bleak Sallah Celebrations

    So Many Rams Very Few Buyers As Muslims Lament Fewer Nigerians perform Hajj Amidst Economic Hardship Borno Gov Flee Domain To Evade  Public Odium Evidence that Nigerians are passing through difficult times could be seen from the fact that so  many MuslimsS could not afford the sacrificial lamb, usually slaughtered to mark the annual Eid…

  • Energy Firm Commences Bitumen Shipment To Nigeria

    Energy Firm Commences Bitumen Shipment To Nigeria

    Geneva-based energy firm, Puma Energy, has started delivering bitumen to its terminal at Calabar in Cross River in a venture aimed at assisting Nigeria to rebuild its dilapidated road network. Puma Energy’s Global Head of Bitumen Mr Olof Klintholm who made the announcement in a statement said “This is an important milestone for Puma Energy…

  • Master Card Sued 14Bn Pounds Over Fees

    Master Card Sued 14Bn Pounds Over Fees

    A British lawyer suing MasterCard for £14 billion over card charges accused the US financial giant of indirectly pushing up prices for all British consumers. “Our case is that businesses that had to pay these fees then naturally passed on their costs… to consumers,” Walter Merricks from law firm Quinn Emanuel said on BBC Radio…

  • Manufacturers Predict Higher Price of Cement

    Manufacturers Predict Higher Price of Cement

    Manufacturers of cement, builders’ most common material have warned that if the Naira is further devalued, the price of cement will be increased further because they need a substantial amount of forex to pay expatriates, buy diesel, fuel, spare parts and mining machinery. This was disclosed by Alhaji Abdulsamad Rabiu, Chairman of the Cement Company…

  • MAN Wants Refineries Privatised

    MAN Wants Refineries Privatised

    President of the Manufacturers Association of Nigeria, MAN, Mr. Frank Jacobs has asked the President Muhammadu Buhari-led administration to privatise national refineries to make them fully functional and save money. According to Jacobs, privatising the refineries, if fully functional, would also help boost the economic situation of the country. “Government should consider privatising the four…

  • Audit Report Indicts NASS Over ‘Missing’ N9Bn

    Audit Report Indicts NASS Over ‘Missing’ N9Bn

    The latest Audit Report has revealed that the National Assembly management failed to account for a total expenditure of over N9.4 billion in 2014. The money according to the report included N9.39 billion for which no “documentary evidence” was provided and a N47 million to be returned to government coffers out of which only N360,000…

  • Ed-el-Kabir: Buhari Others Felicitate With Nigerians

    Ed-el-Kabir: Buhari Others Felicitate With Nigerians

    President Muhammadu Buhari has sent a message to Nigerians as they celebrate the year’s Eid el-kabir’s festival declaring that things were hard, his government was however working towards making the situation better. This was contained in a statement issued by Garba Shehu who is the Senior Special Assistant to the President on Media and Publicity.…