Monday, January 14, 2019

Oluwatoyin Bayagbon

    Nigeria’s oil export to ‘ramp up’ as Forcados terminal bounces back

Nigeria’s oil export to ‘ramp up’ as Forcados terminal bounces back

Operations at Forcados terminal, one of Nigeria’s main oil export routes, are ramping up after a momentary shutdown at the Trans Forcados Pipeline (TFP). [...]

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    NNPC, Chinese firms sign mega gas deal ‘to industralise Nigeria’

NNPC, Chinese firms sign mega gas deal ‘to industralise Nigeria’

The Nigerian National Petroleum Corporation (NNPC) says it has signed a $2.8bn agreement for the Ajaokuta-Kaduna-Kano (AKK) gas pipeline and stations with a consortium of indigenous and Chinese companies. [...]

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    PIGB yet to get to Buhari’s desk — a week after passage

PIGB yet to get to Buhari’s desk — a week after passage

The euphoria that accompanied the passage of the harmonised Petroleum Industry Governance Bill (PIGB) by the national assembly on March 28 is taking a knock. [...]

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    REVEALED: Nigeria now spending N1.4trn on petrol subsidy annually

REVEALED: Nigeria now spending N1.4trn on petrol subsidy annually

Ibe Kachikwu, minister of state for petroleum resources, says subsidy on petrol currently costs the federal government N1.4 trillion annually.  [...]

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    LADOL’s Jadesimi joins Okonjo-Iweala to boost Africa’s growth

LADOL’s Jadesimi joins Okonjo-Iweala to boost Africa’s growth

Amy Jadesimi, chief executive officer, LADOL, has joined the ranks of top business leaders at B-Team Africa, a pan-African platform that “addresses critical issues” across the continent.Some of the business leaders on the B-Team Africa platform are Ngozi Okonjo-Iweala, former minister of finance and Mo Ibrahim, renowned philanthropist.Speaking about the responsibility that comes with her selection, Jadesimi said the B-Team [...]

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    Emefiele recommends reduction of FAAC disbursement ‘to protect the economy’

Emefiele recommends reduction of FAAC disbursement ‘to protect the economy’

Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), says the federation account allocation committee (FAAC) revenue shared among the three tiers of government should be reduced.Emefiele made the recommendation while addressing journalists after the first monetary policy committee (MPC) meeting in Abuja on Wednesday.He said the revenue can be used to protect the economy against future oil price shocks.Representatives [...]

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    Aishah Ahmad, new CBN MPC members vote to keep key interest rate at 14%

Aishah Ahmad, new CBN MPC members vote to keep key interest rate at 14%

Aishah Ahmad, Edward Adamu, and the three other newly confirmed members of the monetary policy committee (MPC) of the Central Bank of Nigeria (CBN) have voted to retain the record-high benchmark interest rate at 14 percent.According to Godwin Emefiele, governor of CBN, who addressed a press conference in Abuja on Wednesday, the MPC unanimously voted to retain key rates.This is the [...]

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    REVEALED: Seme is Nigeria’s No. 1 fuel smuggling route

REVEALED: Seme is Nigeria’s No. 1 fuel smuggling route

The Nigeria Customs Service (NCS) says it seized 174,015 litres of smuggled petroleum products worth N27, 755,492 in one year. [...]

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    Benue herdsmen: 53 of our cows killed in reprisal attack

Benue herdsmen: 53 of our cows killed in reprisal attack

Danladi Chiroma, chairman, north-central zone of the Myetti Allah Cattle Breeders Association of Nigeria (MACBAN), says 53 cows were killed during a reprisal attack in Agatu, Benue state.According to Daily Trust, Chiroma said the attack may have been a retaliation following the killing of five cattle breeders “a few days ago”.The chairman said he was unaware that two of the [...]

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    Fayose accuses Buhari of rewarding looters who decamped from PDP

Fayose accuses Buhari of rewarding looters who decamped from PDP

Ayodele Fayose, Ekiti state governor, says President Muhammadu Buhari is presiding over the most corrupt government in Nigeria’s history.Fayose said in a statement issued on Monday by Lere Olayinka, his special assistant on public communications and new media.He alleged that Buhari’s fight against corruption is selective as it "protects and rewards" looters who decamped from Peoples Democratic Party (PDP).He said [...]

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    Aregbesola’s aide: Osun achieved so much in seven years

Aregbesola’s aide: Osun achieved so much in seven years

Semiu Okanlawon, spokesman of Rauf Aregbesola, governor of Osun state, says the current administration has “achieved so much with so little” in its seven years in power.Speaking at the triennial congress of the Ansar-ud-deen Society of Nigeria (Osun branch), which took place in Iwo, from Friday to Sunday, Okanlawon asked religious organisations and other stakeholders to fully support educational reforms in [...]

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    Kukah writes Buhari: We thought we had overcome ethnicity but you brought it back with vengeance

Kukah writes Buhari: We thought we had overcome ethnicity but you brought it back with vengeance

Mathew Kukah, bishop of Sokoto diocese of the Catholic church, has accused President Muhammadu Buhari of bringing back ethnicity which Nigerians felt they had overcome.In a letter to the president, the cleric said Nigerians have never been so alienated from one another.Kukah said during his campaign, Buhari promised to fight corruption and make the nation secure but he has fallen [...]

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    Nigeria will ‘remain in perpetual misery’ without restructuring

Nigeria will ‘remain in perpetual misery’ without restructuring

The Southern Nigeria and Middle Belt Forum for Development (SNMBFD) says Nigeria will remain in a state of perpetual misery unless urgently restructured.The group consisting of representatives of indigenes from southern Nigeria and the middle belt made the pronouncement at the conclusion of a two-day conference held in Lagos on Thursday and Friday.Speaking at the conference, Banji Akintoye, a senator [...]

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    Bakare to Buhari: We can shut this government down

Bakare to Buhari: We can shut this government down

Tunde Bakare, pastor of the Latter Rain Assembly, says Nigerians can shut down the government as a result of herdsmen killings in recent times. Bakare spoke on the sidelines of “the real cost of subsidy”, an event organised by Enough is Enough, a coalition of youth advocacy groups. He said the order by the inspector general of police for vigilante groups and weapon-bearing individuals to surrender "illegal [...]

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    Land use charge: Lawyers storm out of Lagos assembly in anger

Land use charge: Lawyers storm out of Lagos assembly in anger

The public hearing on land use charge amendment in Lagos state which held on Tuesday was greeted with mixed reactions by stakeholders in the public and private sector.With agitations by different interest groups, the Lagos state house of assembly had proposed a hearing after amendments to the land use charge law 2018 were made.Ogunlana Adesina, chairman, Nigerian Bar Association (NBA), [...]

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    40 NGOs seek cancellation of $20 billion Nigeria-Morocco gas pipeline project

40 NGOs seek cancellation of $20 billion Nigeria-Morocco gas pipeline project

Forty non-governmental organisations (NGOs) have signed a declaration calling for the cancellation of the proposed $20 billion Nigeria-Morocco gas pipeline project. [...]

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Exchange Rates

January 14, 2019USDGBPEUR
INTERBANK306397354
LAGOS361463411
KANO360465413
PH361462412
ABUJA362462413
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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