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FG May Sell off 2,000 Houses in Abuja over Tax Avoidance

FG May Sell off 2,000 Houses in Abuja over Tax Avoidance

 Harvests N17bn from VAIDS in five months The federal government disclosed thursday that it has uncovered 2,000 houses in Abuja whose owners are not paying taxes on them, giving an indication it may soon dispose off the property after securing ...

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FAAC: States to Partake in Reconciliation of NNPC Figures

FAAC: States to Partake in Reconciliation of NNPC Figures

 FG, states, LGs share N532.8bn for October The various states of the federation will now be part of the reconciliation team of the Nigerian National Petroleum Corporation( NNPC) revenue for the federation account to avoid discrepancies . The Chairman, Commissioners ...

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Kachikwu Rolls Out Emergency Plan to End Petrol Scarcity

FG Justifies Oil Exploration in North, to Reinvest Proceeds from JV Assets

PENGASSAN threatens strike, to prolong fuel crisis Oil price rises on threat of Nigeria strike, short covering Following the directive by the Federal Executive Council (FEC) to the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, to end the ...

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We’ll complete Egina project for $16bn – Total

We’ll complete Egina project for $16bn – Total

Total Upstream Nigeria Limited has said the Egina deep-water project is expected to be completed in the fourth quarter of 2018 for the initial budget of $16bn. The Egina field, which was discovered by Total in 2003 within the Oil ...

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Foreign rice in Nigeria smuggled, some poisonous – FG

Customs Promotes DCGs, Charges Officers To Do More.

The Federal Government on Thursday declared that all foreign brands of rice in the country at the moment were smuggled, adding that some of them were poisonous. According to the government, recent tests conducted by the Federal Ministry of Agriculture ...

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W’Bank Board to consider $1bn for Nigeria’s power sector

W’Bank Board to consider $1bn for Nigeria’s power sector

Federal Government officials and their World Bank counterparts on Wednesday agreed on the necessary steps to be taken before the presentation of Nigeria’s request for $1bn for consideration by the executive board of the institution. In a statement issued after ...

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FG Orders Kachikwu to End Fuel Scarcity

FG Orders Kachikwu to End Fuel Scarcity

NNPC moves to bridge supply gap DPR orders depot owners to give priority to Lagos The federal government Wednesday in Abuja, denied insinuations that the current fuel scarcity plaguing the country is a ploy to increase the pump price of ...

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Nigeria Discovers 38 New Gas Flare Sites, Flared 800mscuf/d in 2015

Nigeria Discovers 38 New Gas Flare Sites, Flared 800mscuf/d in 2015

About 38 new gas flare sites have been discovered in the Niger Delta region to bring the existing number of gas flare sites in the country to 178, the Ministry of Petroleum Resources has disclosed. The ministry also stated yesterday ...

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Customs Impounds 64 Vehicles, Smuggled Rice Worth N1.6bn

Customs Impounds 64 Vehicles, Smuggled Rice Worth N1.6bn

The Nigeria Customs Service (NCS), Federal Operations Unit (FOU), Zone A, Ikeja, Lagos, yesterday announced that it intercepted 22 truckloads of foreign parboiled rice with 64 units of vehicles smuggled into Nigeria from neighbouring countries. Customs Area Comptroller (CAC) of ...

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Petrolex to Invest $5bn in 250,000bpd Refinery

Petrolex to Invest $5bn in 250,000bpd Refinery

Forte Oil unveils 1.5KVA solar solution An indigenous midstream and downstream player in Nigeria’s oil and gas sector, Petrolex, has inaugurated Wood Mackenzie and Fooster Wheeler to conduct studies for the construction of 250,000 barrels per day refinery at the ...

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Customs, NAGAFF Set-Up Committee To Enhance Ease Of Doing Business

Customs, NAGAFF Set-Up Committee To Enhance Ease Of Doing Business

By Kenneth Jukpor In a bid to ensure expedite clearance of goods at the ports and in line with the Executive Orders on the Ease of Doing Business at the nation’s ports, the Nigeria Customs Service (NCS) has set up ...

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99 Persons Die In Boat Mishaps In Kebbi, Niger, Lagos Submitted

99 Persons Die In Boat Mishaps In Kebbi, Niger, Lagos Submitted

Over 99 persons have died in six boat mishaps that occurred in Kebbi, Niger and Lagos states between April and September, according to a survey by the News Agency of Nigeria. The survey was conducted in the three states. The ...

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W’Bank gives Nigeria N107.4bn loan for rural electrification

W’Bank gives Nigeria N107.4bn loan for rural electrification

The World Bank on Tuesday announced the provision of a $350m loan (N107.4bn at the official exchange rate of N307 to a dollar) for the development of rural electrification projects in Nigeria. It also announced Nigeria’s Rural Electrification Agency as ...

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Petrol Queues Return, Baru Rushes Back from London

NNPC to name core investor for Benue biofuel project

Senate c’ttee summons NNPC GMD Long queues of vehicles waiting to buy petrol from service stations on Tuesday resurfaced in some parts of the country, forcing the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, ...

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Dangote Emerges Only African on Bloomberg’s List of 50 Most Influential People

Dangote Emerges Only African on Bloomberg’s List of 50 Most Influential People

President of Dangote Group Aliko Dangote has emerged the only African to make the Bloomberg list of 50 most influential people in the world this year. Bloomberg on Monday announced The Bloomberg 50, a new annual, multi-platform initiative that honours ...

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Buhari, Saraki, Dogara Meet to Fast-track Passage of 2018 Budget

Buhari, Saraki, Dogara Meet to Fast-track Passage of 2018 Budget

• N’Assembly approves MTEF, increases oil benchmark to $47/b • Appropriation Bill passes second reading Barring any unforeseen circumstances, there are indications that the legislature is set to accede to the request by the executive for the passage of the ...

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SEC to Resume Oando Forensic Audit from Wednesday

SEC to Resume Oando Forensic Audit from Wednesday

• House seeks Gwarzo’s reinstatement pending investigation In a nod to the U-turn made by the Minister of Finance, Mrs Kemi Adeosun, to allow the forensic audit into the activities of Oando Plc to go ahead, the Securities and Exchange ...

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External Reserves Hit Four-year High of $38.2bn on the Back of Eurobond Issue

CBN’ll use BVN to blacklist loan defaulters –Emefiele

• CBN to draft credit framework for SMEs, pumps $210m into FX market Following the success of the $3 billion Eurobond issue by the federal government last month, coupled with higher oil prices and production, the Central Bank of Nigeria ...

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African Shippers’ Day

African Shippers’ Day

African Shippers recently assembled in Ghana to mark the 8th African Shippers’ Day with the theme: “Trade Facilitation and its Impact on Africa’s Industrialisation”. It attracted the CEOs of all Shippers’ Council under the auspices of the Union of African ...

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NPA: When Audit Negotiates!

NPA: When Audit Negotiates!

It is unbelievable to hear that infighting and gross insubordination is tearing NPA apart. The Public Affairs department is polarized with the new General Manager (GM) still confused and standing alof in disagreement always with his subordinates who have mastered ...

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