President Muhammadu Buhari, yesterday tasked the private sector operators to take the lead in the efforts at resuscitating the nation’s ailing economy saying they hold the key to quick economic recovery. The president, who spoke at the 44th Annual General Meeting of the Manufacturers Association of Nigeria (MAN), held in Abuja and attended by lawmakers and members of the Organised … Read More
Militants Blast NNPC Pipeline in Fresh Attack
A militant group called the Niger Delta Greenland Justice Mandate on Thursday claimed an attack on a crude pipeline in Delta state operated by the Nigerian Petroleum Development Company, a subsidiary of the NNPC. The NDGJM said in a statement it had blown up the Unenurhie-Evwreni pipeline “to prove to the wicked and ungrateful multinational oil companies and their Nigerian … Read More
FG Targets $10 Billion Earnings From Sale of Oil Assets
The governor of Central Bank of Nigeria, Godwin Emefiele, has disclosed that the country will soon commence the sale of about 15 per cent of its oil assets held by the Nigerian National Petroleum Corporation (NNPC), which is expected to yield an inflow of $10 billion to the country. This is part of efforts to reflate the nation’s receding economy. … Read More
FG Borrows N183billion In Treasury Bills
The Federal Government borrowed N183.24bn via Treasury bills at an auction on Wednesday, with mixed yields on all the tenors, data from Debt Management Office showed on Thursday. The DMO raised N48.10bn of three-month paper at 14 per cent, down from 14.38 per cent it sold at an auction on August 31. It also sold N48.45bn worth of the six-month … Read More
Increase PMS Pump Price – Ex-NNPC GMDs
Former Group Managing Directors, GMDs, of the Nigerian National Petroleum Corporation, NNPC, weekend, called for an upward review of the price of Premium Motor Spirit, PMS, also known as petrol, stating that the present price cap of N145 per litre is not in line with current economic realities. According to a statement by the NNPC, the former GMDs stated this … Read More
FG Promises Holistic Approach To Tackling Electricity Challenges
The Federal Government has said it would adopt a holistic approach towards addressing the infrastructural decay and other challenges facing the electricity industry. The Minister of Power, Works and Housing, Mr. Babatunde Fashola, stated that as part of these efforts to boost the electricity supply in the country, the Nigerian Bulk Electricity Trading Plc (NBET) and the Transmission Company of … Read More