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…
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 approval two weeks ago. According…
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 explained that Security…
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 the…
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 President’s Special Adviser on Media…
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 directive during public hearing…
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 companies…
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 diverting petroleum products. The…
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 Providers (VAS), the Nigerian…
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…
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 Ibafon…
Audu died a courageous politician, says Buhari
President Muhammadu Buhari has expressed shock over the news of the death of Abubakar Audu, the All Progressives Congress candidate in the inconclusive Kogi State governorship election. The President, who is attending the Third Gas Exporting Countries Forum in Tehran,…
FG re-affirms commitment to GECF
The Federal Government has assured the Gas Exporting Countries Forum ( GECF) of its continuous support as it struggles to surmount the challenges that the global oil and gas industry is facing. This assurance was given by President Muhammadu Buhari…
NCC to sanction more firms
The Nigerian Communications Commission (NCC) has threatened to sanction MTN, Airtel and Globacom for defying its directive on automatic migration to Pay-As-You-Go data bundle. The Commission made this known in its ‘2015 third quarter Compliance Monitoring and Enforcement Report’ obtained…