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Monthly Archives: April 2020

24 states get N43.4bn World Bank grant for transparency

FG adjusts 2020 budget to N10.52tn, adopts $25 oil benchmark

The Federal Government on Wednesday said it had disbursed N43.41bn ($120.6m) to 24 states under the performance-based grant component of the World Bank-Assisted States Fiscal Transparency, Accountability and Sustainability Programme-for-Results. The Minister of Finance, Budget and National Planning, Mrs Zainab ...

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Refineries recorded N9.6bn loss in January, says NNPC

NNPC increases June selling prices of crude oil

Nigeria’s refineries started their 2020 financial year with losses as they posted a cumulative operational deficit of N9.6bn in January. The Nigerian National Petroleum Corporation manages the country’s three refineries – the Kaduna Refining and Petrochemical Company, the Port Harcourt ...

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Nigeria, others suspend $3.4tr continental deal amid pandemic

Nigeria, others suspend $3.4tr continental deal amid pandemic

The implementation of the African Continental Free Trade Agreement (AfCFTA), suffered yet another blow, with the announcement of its suspension, as African countries struggle to deal with the impact of the coronavirus pandemic. With borders closed and supply chain disrupted ...

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How COVID-19 worsened oil, aviation sectors’ N4.4tr debt

How COVID-19 worsened oil, aviation sectors’ N4.4tr debt

• Concerns about CBN’s capacity to meet forex demand • FAAN, others in distress over N6b monthly salary • Naira heading to post-2016 era closes at N460/$1 The coronavirus pandemic has made the aviation and oil sectors more vulnerable to a ...

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FG directs banks, government offices, firms to reopen Monday

FG directs banks, government offices, firms to reopen Monday

Schools remain shut, public transport to operate 6am- 6pm Kano must accept medical autopsy results, says Presidency Ban on interstate movement not enough to curb COVID-19 – NMA The Presidential Task Force on COVID-19   has directed government offices, banks and ...

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APM Terminals’ Staff Tests Positive To COVID-19

APM Terminals' Staff Tests Positive To COVID-19

An employee of APM Terminals Apapa has tested positive to COVID-19. The last time the worker was at the port was April 16, 2020 but his COVID-19 infection was confirmed on Monday, April 27, 2020. This was revealed in a ...

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APM Terminals’ Staff Tests Positive To COVID-19

APM Terminals Apapa Gets New MD

An employee of APM Terminals Apapa has tested positive to COVID-19. The last time the worker was at the port was April 16, 2020 but his COVID-19 infection was confirmed on Monday, April 27, 2020. This was revealed in a ...

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Why Customs’ rice gift stirs controversy

Why Customs’ rice gift stirs controversy

“The imported rice was poisonous because before coming into the country, it must have spent a minimum of five years in the silos. “A chemical must have been added to sustain its freshness and that chemical is harmful. Also, it ...

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Germany grants Nigeria N8.9bn debt relief

Oil, gas revenue dropped by N425.52bn in Q1 –Minister

The Republic of Germany said it had granted Nigeria debt relief amounting to N8.9bn (€22.4m) on account of the coronavirus pandemic. Also, the German government said it had successfully campaigned for the G20, the Paris Club and creditor countries in ...

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Court awards N5m against Atiku, Saraki over billboard photo

Court awards N5m against Atiku, Saraki over billboard photo

The Federal High Court in Lagos has awarded N5m against the 2019 presidential candidate of the Peoples Democratic Party, Alhaji Atiku Abubakar, and his campaign director, Dr Bukola Saraki, over unauthorised use of the photograph of a Lagos-based trader, Mrs ...

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Oil rebounds above $14 after massive sell-off

Oil rebounds above $14 after massive sell-off

US oil prices rebounded above $14 a barrel Wednesday, a day after a sell-off sparked by a major fund selling its short-term holdings of the commodity amid virus-triggered storage concerns. West Texas Intermediate, the US benchmark, for June delivery jumped ...

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Reps seek deportation of illegal Chinese immigrants

Reps seek deportation of illegal Chinese immigrants

The House of Representatives on Tuesday moved a motion seeking relevant government agencies to check the validity of immigration documents of Chinese nationals in Nigeria, to fish out illegal and undocumented immigrants and repatriate them to China. The bill, titled ...

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Poisonous Rice Saga: Maritime Editors Demand Sack of Customs CG, Controllers

Covid-19: MMS WoFHoF Postpones Event, Urges Public To Stay Safe

The League of Maritime Editors and Publishers (LOMEP), has called on President Muhammadu Buhari to immediately dismiss the Comptroller-General of the Nigeria Customs Service (NCS),​ Rtd Col. Hammed Ali for donating​ 920,000 bags of​ contaminated rice for sharing in some ...

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NIMASA Investigates Emergence Of Dead Fishes On Niger-Delta Coastline

NIMASA Investigates Emergence Of Dead Fishes On Niger-Delta Coastline

By Kenneth Jukpor The Nigerian Maritime Administration and Safety Agency (NIMASA) has commenced a scientific inquiry to identify the cause of the recent shoals of dead fish washed ashore along the Niger Delta coastline states of Akwa Ibom, Bayelsa, Cross ...

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NNPC delays oil export plans, negotiates with producers

NNPC says top fresh management appointments based on merit

The Nigerian National Petroleum Corporation has delayed publishing its future oil export plans as it negotiates with international oil companies and local players on how to cut output in line with a global deal on production curbs. The official selling ...

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CBN lifts suspension on cheques’ clearing

No forex for goods with local substitutes –Emefiele

The Central Bank of Nigeria has lifted suspension on cheque clearing by the Deposit Money Banks. It stated this in a circular to all the DMBs and Nigeria Inter-Bank Settlement System issued on Monday, titled, ‘Temporary suspension of cheque clearing ...

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LCCI, NECA, PENGASSAN demand stimulus packages, PIB passage

LCCI, NECA, PENGASSAN demand stimulus packages, PIB passage

Ahead of this year’s Workers’ Day, popularly known as May Day, frontline organisations in the organised private sector have called on the Federal Government to support the sector with stimulus packages. The organisations include the Lagos Chamber of Commerce and ...

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IMF may approve Nigeria’s $3.4bn loan today

IMF may approve Nigeria’s $3.4bn loan today

There are indications that the Executive Board of the International Monetary Fund may approve the $3.4bn loan sought by Nigeria on Tuesday (today). Although the Minister of Finance, Budget and National Planning, Zainab Ahmed, had on April 6, while announcing ...

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Be ready to pay higher for fuel –PPPRA

NNPC reduces petrol depot price to N108

 Engages CBN on forex rate for petrol importation Nigerians should be ready to pay high or low prices for petrol following the price liberalisation scheme currently in place, the Petroleum Products Pricing Regulatory Agency said on Monday. The PPPRA is ...

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English Premier League to return soon – UK govt

English Premier League to return soon – UK govt

UK government’s cabinet minister responsible for sports on Monday said he had been in talks with the English Premier League to ensure the game return soon. Speaking at a parliamentary questions session, Oliver Dowden, Culture, Media and Sports Secretary, said ...

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