Osibanjo decries over-dependence on oil

Osibanjo decries over-dependence on oil

The Vice-President, Yemi Osinbajo has described Nigeria’s over-dependence on oil resources as a major factor responsible for the high level of corruption in the country. He also identified  restiveness and agitation for resource control, especially in the South-south geo-political region...
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Senate approves N574.5b supplementary budget

Senate approves N574.5b supplementary budget

The Senate on Tuesday   passed N574,532,726,857 billion as the 2015 supplementary budget. Under the arrangement, it is N108,895,800,000 billion higher than the N465,636,926,857 billion proposed by President Muhammadu Buhari to the National Assembly for appro...
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PwC predicts drop in ageing power infrastructure by 2020

PwC predicts drop in ageing power infrastructure by 2020

A survey put together by PricewaterhouseCoopers (PwC) has predicted that ageing infrastructure is expected to significantly reduce in the next five years (2020).  Quoting Chief Executive Officers (CEOs) of power and utilities companies in Nigeria, the survey ...
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CBN approves extension of  BVN registration for military

CBN approves extension of BVN registration for military

The Central Bank of Nigeria (CBN) has  approved the extension of the Biometric Verification Number (BNV) registration for men of the armed forces to enable them access their salaries. Speaking before the Senate Committee on Appropriation’s public hearing on...
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Buhari approves Nigeria’s action plan to tackle climate change

Buhari approves Nigeria’s action plan to tackle climate change

AS part of measures to tackle climate change, President Muhammadu Buhari has approved the submission of Nigeria’s  Intended Nationally Determined Contributions (INDC) to United Nations Framework Convention on Climate Change (UNFCCC). In a statement, the Pre...
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NNPC, others to harmonise subsidy claims

NNPC, others to harmonise subsidy claims

The Senate has directed the Ministry of Petroleum, Nigerian National Petroleum Corporation (NNPC) and other relevant stakeholders to harmonise subsidy claims for October to December 2015. Sen. Danjuma Goje, Chairman, Senate Committee on Appropriation, gave the...
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NCAA bars five marketers from supplying aviation fuel

NCAA bars five marketers from supplying aviation fuel

The Nigerian Civil Aviation Authority has suspended five oil marketing companies from supplying aviation fuel, also called Jet A1, to local and foreign airlines operating in the country due to lack of depot facilities. According to Punch Newspaper, the compani...
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NNPC partners EFCC, DSS on fuel scarcity

NNPC partners EFCC, DSS on fuel scarcity

Worried by the ongoing nationwide fuel scarcity, the Nigerian National Petroleum Corporation (NNPC) has implored  the Department of State Services (DSS) and the Economic and the Financial Crimes Commission (EFCC) to help arrest marketers hoarding and divertin...
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NCC tasks MNOs over N30b subscribers’ loss to unsolicited SMS

NCC tasks MNOs over N30b subscribers’ loss to unsolicited SMS

Following claims by the National Association of Telecommunications Subscribers of Nigeria (NATCOMS) that telephone users in the country lose about N30 billion to unsolicited Short Message Service (SMS) monthly from the activities of Value Added Service Provide...
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CBN cuts interest rate to 11%

CBN cuts interest rate to 11%

The Monetary Policy Committee of the Central Bank of Nigeria (CBN) has  reduced the Monetary Policy Rate (benchmark interest rate) from 13 per cent to 11 per cent. Speaking at an interactive session with Journalists after  the MPC meeting explained...
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NIMASA shuts Obat Oil Jetty

NIMASA shuts Obat Oil Jetty

The Nigerian Maritime Administration and Safety Agency (NIMASA), pursuant to its mandate as the Designated Authority (DA) for the implementation of the International Ship and Port Facility Security (ISPS) Code has shut Obat Oil and Petroleum Limited Jetty at I...
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