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  • Senate gives Osinbajo two weeks to submit CBN, NNPC budgets

    The Senate yesterday issued a two-week ultimatum to Acting President Yemi Osinbajo to submit the budgets of the Central Bank of Nigeria (CBN), Nigerian National Petroleum Corporation (NNPC), Federal Inland Revenue Service (FIRS) and 35 other federal...

    • Posted May 19, 2017
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  • Senate proposes compulsory health insurance

    All countries that have made substantial progress towards universal health coverage have done so because they have made it mandatory,” he said. Tejuosho, however said making health insurance compulsory without sufficient arrangements for subsidization will not work....

    • Posted May 19, 2017
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  • U.S increases import of Nigerian crude

    US crude imports from Nigeria rose by 13.6 per cent to 325,000 barrels per day from 286,000 b/d the most since March, preliminary data released by the US Energy Information Administration (EIA) for week ended May 12,...

    • Posted May 19, 2017
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  • One million telecom consumers activate 2442 code – NCC

    Prof. Umar Danbatta, the Executive Vice Chairman, the Nigerian Communications Commission (NCC), has said more than one million consumers activated the 2442 Do-Not-Disturb code within two months. Danbatta made this known during the Lagos Launch of 2017...

    • Posted May 18, 2017
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  • I will sign 2017 budget – Osinbajo

    Acting President Yemi Osinbajo said last night that he would assent to the 2017 budget. Information Minister Lai Mohammed had earlier told State House reporters after the Federal Executive Council meeting chaired by Osinbajo that the decision...

    • Posted May 18, 2017
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  • Grid loses 2,424mw to gas, transmission constraints

    The Nigerian electricity grid lost 2,424 megawatts (mw) to gas, water and transmission line constraints across the Generation Companies (GenCos) last Friday, the Daily Trust reports. Industry statistics revealed that 1,962mw was lost due to gas supply...

    • Posted May 17, 2017
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  • Equities lose N235bn to profit-taking

    The Nigerian equities market yesterday ran bearish to a tune of N235 billion after many stocks witnessed profit-taking by investors, which was triggered by the recent bullish market trend. The profit-taking trend commenced on Friday when the...

    • Posted May 17, 2017
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  • Crude oil pre-shipment inspection contracts breach due process – Reps

    A House of Representatives panel yesterday uncovered several breaches in the procurement processes in the contracts for the pre-shipment inspection  of Nigeria’s crude oil. The committee on public procurement, chaired by Rep Wole Oke (PDP, Osun), established...

    • Posted May 17, 2017
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  • Nigeria interbank rate jumps after CBN liquidity mop-up

    Nigeria’s overnight interbank lending rate rose sharply to 29.5 percent on Friday, up from 19 percent last week, after the Central Bank of Nigeria (CBN) sold treasury bills to soak up liquidity from the banking system in...

    • Posted May 15, 2017
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  • BOI embarks on N1trillion fund mobilisation for FG’s recovery plan

    The Bank of Industry has embarked on N1 trillion fund mobilisation drive to finance the industrial component of the federal government’s economic recovery and growth plan (ERGP). Speaking at the Bank’s Annual General Meeting held in Abuja...

    • Posted May 15, 2017
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  • Why Nigeria should invest more in ICT – Minister, NCC boss

    The Minister of Foreign Affairs, Mr Geoffrey Onyeama, has urged private sectors in Nigeria to invest in information and communication technology to bridge infrastructure deficit in the sector. Speaking on the Transform Africa Summit, 2017, in Kigali,...

    • Posted May 15, 2017
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  • How National Assembly will spend its N125bn budget

    Legislators passed the 2017 budget yesterday and raised their vote from N115 billion to N125 billion. The legislators, for the first time in many years, revealed details of their budget following sustained public pressure. Senators and members...

    • Posted May 13, 2017
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  • Oil sector locked down by few interest groups – Kachikwu

    Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has said that the country’s oil and gas sector has been held down by a few interest groups for so long. The minister, however, promised that his ministry...

    • Posted May 13, 2017
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  • Privatisation: FG gets $5.6bn offer for 10 NIPP plants

    The Managing Director, Niger Delta Power Holding Company (NDPHC), Mr Chiedu Ugbo, has said that a $5.6 billion (about N1.76 trillion) sales offer has been made for the 10 National Integrated Power Plants (NIPP) plants built with...

    • Posted May 12, 2017
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