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FG To Fight Boko Haram With $1bn From Excess Oil Account

FG To Fight Boko Haram With $1bn From Excess Oil Account

The money will cover the whole array of needs which includes purchase of equipments, training for military personnel and logistics Nigerian state governors on Thursday approved the release of $1 billion from the country’s excess oil account to the government to help fight the Boko Haram Islamist insurgency.The account holds foreign reserves from excess earnings […]

Factors To Watch On Dec. 15 African Markets

Factors To Watch On Dec. 15 African Markets

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday Dec. 15. EVENTS: ETHIOPIA-IMF chief Lagarde to give lecture GLOBAL MARKETS Asian shares edged higher on Friday, on track for weekly gains, though sentiment was kept in check by Wall Street’s weakness on concerns […]

Only 40 Million Nigerians Pay Taxes – Adeosun

Only 40 Million Nigerians Pay Taxes – Adeosun

The Minister of Finance, Kemi Adeosun, has said that out of 70 million taxable adults in Nigeria, only 40 million of them pay taxes. Adeosun spoke at the first annual lecture of the Lagos State Professorial Chair of Tax and Fiscal Matters held at the Ade-Ajayi Auditorium of the University of Lagos. Adeosun who chaired […]

NNPC To Clear Fuel Queues, Adopts 24-hour Depot, Retail Services

NNPC To Clear Fuel Queues, Adopts 24-hour Depot, Retail Services

The Nigerian National Petroleum Corporation (NNPC) has said that its adoption of a 24-hour depot and retail services cleared the fuel queues in Abuja, Lagos and many states across the country. NNPC Chief Operating Officer, Ventures and Chairman of the NNPC Special Task Force on Fuel Monitoring, Dr. Victor Babatunde Adeniran, made this disclosure to […]

Reps Threaten 10 Oil Firms Over $250m Un-remitted Fund

Reps Threaten 10 Oil Firms Over $250m Un-remitted Fund

The House of Representatives Committee on Oil and Gas, threatened on Wednesday to issue warrant of arrest on Managing Directors of 10 oil firms, if they failed to appear before it on Thursday to account for unremitted 250 million dollars to the Federal Government’s purse. Mr Jerigbe Agom, the Chairman of the committee, issued the […]

Christmas: Dana, SPG Partner Offer Customers 25% Discount

Christmas: Dana, SPG Partner Offer Customers 25% Discount

Our guests should expect more amazing offers this season Dana Air and the Starwood Preferred Guests hotels have partnered to offer 25 per cent discount on air tickets to suit the holiday needs of family, friends and individuals this Christmas and New year. This partnership entails guests to book a room at any of the […]

9 Ships Laden With Petroleum Products Arrive Lagos Ports

9 Ships Laden With Petroleum Products Arrive Lagos Ports

The Nigerian Ports Authority (NPA) on Thursday said three out of nine ships waiting to berth in Lagos ports contained petrol. The ports authority said this in its daily `Shipping Position’ released in Lagos. The document indicated that the remaining six ships were laden with diesel, bulk maize, bulk fertiliser and aviation fuel. It said […]

Dollar, Stocks Suffer Losses In Asia As Fed Fails To Inspire

Dollar, Stocks Suffer Losses In Asia As Fed Fails To Inspire

The dollar suffered fresh losses on Thursday as Asian investors followed their New York counterparts in shifting out of the unit, unmoved by another interest rate hike and an upbeat assessment of the world’s top economy. The fall in the greenback was mirrored in a broad sell-off in regional equities as traders ignored another record […]

FG Set To Issue Debut Green Bond In Domestic Market

FG Set To Issue Debut Green Bond In Domestic Market

With the Green Bond Issuance, Nigeria would become one of the few countries in the world and indeed the first African country to issue a Green Bond. The Debt Management Office (DMO) has announced that as part of the preparations towards the issuance of the first Sovereign Green Bond, it would sensitise prospective investors in […]

Nigeria Lost N7.6trn To Faulty Pacts With Oil Coys

Nigeria Lost N7.6trn To Faulty Pacts With Oil Coys

Minister of State for Petroleum Resources, Dr. Emmanuel Ibe Kachikwu, yesterday disclosed that Nigeria lost about $21billion (N7.6 trillion) to International Oil Companies (IOCs) operating in the country as a result of non-implementation of the Production Sharing Contract (PSC) Act of 1993. Consequently, the Federal Executive Council (FEC) at its meeting yesterday presided over by […]

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