All posts by David Abellegah

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  NNPC N1.2 trillion Subsidy Claim: Diezani calls on Jonathan to caution Okonjo-Iweala

    President Goodluck Jonathan has been alerted by the Nigerian National Petroleum Corporation (NNPC) to a looming acute fuel shortage, should the FG fail to pay the N1.13trn subsidy owed to NNPC. The Minister of Petroleum Resources,...

  • Posted November 22, 2012
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  Lagos-Ibadan Expressway Rehabilitation Contract Details Still Shrouded in Mystery

  Over 72 hours since the Julius Berger Plc and RCC Nigeria Limited were given the job for the for the rehabilitation of the Lagos-Ibadan Expressway however, there are no details of the new contract, no amount stated,...

  • Posted November 22, 2012
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  Korean Firm to Build $30 billion 10,000 Megawatts Solar Power Plant in Nigeria

  The Nigerian Investment Promotion Commission (NIPC) has revealed that a Korean firm has indicated interest in investing $30billion to build a 10,000 megawatts solar power plant in the country. Mr. Kin Moon who is the Chief Executive...

  • Posted November 22, 2012
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  Subsidy Claims: Govt owes us N1.3t on subsidy – NNPC

  The Nigerian National Petroleum Corporation (NNPC), yesterday cried out that it has been struggling to cope with their fuel import programme because they are owed more than N1.3 trillion ($8.2 billion) in government fuel import subsidies, debts....

  • Posted November 21, 2012
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  President Jonathan Seeks MTEF Amendment for Additional $200 million Debt

  President Goodluck Jonathan has requested for the amendment of the $7.905 billion 2012-2014 Medium Term External Borrowing Plan. The president wrote to the National Assembly to that effect, saying the plan should include $200m. The letter was...

  • Posted November 21, 2012
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  CBN Cautions National Assembly on Oil Benchmark Increase, Retains Interest Rate At 12%

  The Monetary Policy Committee of the Central Bank of Nigeria on Tuesday advised the National Assembly not to increase the 2013 budget oil benchmark from $75 to $80 per barrel. The CBN Governor, Mr. Lamido Sanusi said,...

  • Posted November 21, 2012
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  Senate Cautions Education, Housing Over Poor Budget Implementation and Spree Spending

  The senate has recently become very troubled over the fact that the 2012 budget implementation is still below 50 per cent when there are just 41 days to the end of the 2012 fiscal year. This situation...

  • Posted November 20, 2012
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  Customs Deny Passing 200 Car Bribe to Lawmakers

  The Nigerian Customs Service has strongly refuted the allegation of buying 200 cars for members of the National Assembly to pass the amended Customs and Excise Management Act (CEMA). They denied the allegation saying, it was false...

  • Posted November 20, 2012
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  FG Moves to Reduce N600 billion Annual Wheat Import

    The Federal Institute of Industrial Research, Oshodi (FIIRO) said the federal government has moved to cut down the N600b spent on wheat importation. It said the Federal Government has stepped up the use of cassava bread...

  • Posted November 20, 2012
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  Lagos Ibadan Expressway: FG Terminates Contract with Bi-Courtney, Hires Julius Berger, RCC

  The contract for the construction of the 125-kilometre Lagos – Ibadan Expressway has been terminated and a new contractor hired. The Federal Government on Monday terminated its agreement with Bi-Courtney Consortium for the reconstruction of the road....

  • Posted November 20, 2012
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