Nigeria News
Govt releases N13.6b for health workers hazard allowances, life insurance
A princely sum of N13.642 billion has been released to pay hazard allowances and group life insurance to health workers and federal civil servants, the Federal Government announced on Sunday. The announcement came on a day the National Association of Resident Doctors (NARD) said it was suspending its one-week-old strike for four weeks to give […]
Nigerians Willing to Pay for Electricity -Osinbajo
Vice President Yemi Osinbajo yesterday said Nigerians are willing to pay for electricity only if the services they receive from the distribution companies are constant and better. Speaking during a webinar on “Economic Sustainability Beyond COVID-19,” organised by Emmanuel Chapel, the vice president said it is not true that Nigerians do not want to pay […]
FG Gives Oil Workers Thursday Deadline to Register on IPPIS
In a renewed effort aimed at getting all workers in its employment to enroll on the Integrated Personnel and Payroll System (IPPIS), the federal government has issued a fresh directive to all staff of ministries, departments and agencies (MDAs) to enroll on the scheme on or before Thursday, June 18, 2020. The latest directive by […]
FG Receives $22m Medical Supplies from EU, UN
The federal government has received vital medical supplies that are worth $22 million from the European Union (EU) and the United Nations (UN) to boost its fight against the spread of COVID-19 pandemic disease in the country. A statement issued yesterday from the Department of Communication, Advocacy and Partnerships, United Nations Children’s Fund (UNICEF), and […]
With 436 New Infections, Nigeria’s COVID-19 Cases Cross 20,000 Mark
Nigeria has recorded 436 new cases of COVID-19, bringing to 20,244 the number of confirmed infections in the country. A breakdown yesterday by the Nigeria Centre for Disease Control (NCDC) showed that Lagos recorded 169 new cases; Oyo, 52; Plateau, 32; Imo, 29; Kaduna, 28; Ogun, 23; Federal Capital Territory (FCT) and Enugu 18 each; […]
FG Responds as Ghana Demolishes Nigeria’s Diplomatic Building
The federal government has demanded an urgent action from Ghana over the attack on the Nigerian High Commission in Accra, the Ghanaian capital. Armed men had invaded the commission in Accra to supervise the demolition of a building under construction by the high commission. The attack violates the Vienna Convention on Diplomatic Relations whose Article […]
CBN introduces Non-interest Facility in ABP, COVID-19 interventions
…Targets N432bn disbursement for 2020 Wet farming season The Central Bank of Nigeria (CBN) has disclosed that it plans to release a framework for the integration of non-interest window in all its intervention programmes. The interventions especially targeted are the Anchor Borrowers’ Programme (ABP) and the Targeted Credit Facility (TCF) to support households and Micro, […]
IMF names Okonjo-Iweala, others in External Advisory Group
IMF Managing Director, Kristalina Georgieva, on Friday named a former Nigerian finance minister, Dr Ngozi Okonjo-Iweala, among a group of prominent individuals appointed to serve as her new External Advisory Group. A statement posted on the IMF website said the group, comprising individuals with high-level policy, market, and private sector experience would provide insights to […]
COVID-19: FG may extend lockdown as cases rise to 305
There are strong indications that President Muhammadu Buhari, may extend the lockdown order in Lagos, Ogun and the Federal Capital Territory. This came after the Chairman of the Presidential Task Force and Secretary to the Government of the Federation, Boss Mustapha, spoke at Friday’s edition of the committee’s daily media briefing. The PTF had earlier […]
Caverton helicopters pilots will be released soon, says FG
The Federal Government has assured that the two Caverton Helicopter pilots arrested by the Rivers State Government will be released soon. It also said the pilots were on national assignment when the arrest was made. The pilots were arrested by the police for flouting the state’s government directive of flying into the Air Force Base […]
Business News
FG Not in a Hurry to Resume Train Operations, Says Amaechi
The federal government has said there is no plan to commence immediate train services until the battle against the disease is won. The Minister of Transportation, Mr. Rotimi Amaechi stated this yesterday on his verified Twitter handle, @ChibuikeAmaechi. According to Amaechi, resumption of train services would comply with safety protocols, adding that until all passengers […]
COVID-19 has stagnated global economy, says NCRIB
Nigerian Council of Registered Insurance Brokers (NCRIB) on Thursday said COVID-19 pandemic has stagnated global economy and grinded to a halt all forms of social relationship which Nigerians are particularly known for. The development NCRIB said has changed the earning capability of many workers in the public or private sector. President/ Chairman of the Governing […]
Nigeria Eyes $2.8bn Income from OPEC’s New Production Deal
Nigeria says it expects to gain about $2.8 billion from its sale of crude oil in the coming months if the weakened prices of the commodity gain an additional $15 per barrel after member-countries of the Organisation of Petroleum Exporting Countries (OPEC) and its allies agreed on fresh production cut to stabilise the oil market. […]
Free electricity supply subject to Fed Govt’s approval
The implementation of free electricity supply promised by the 11 Electricity Distribution Companies (DISCOS) is subject Federal Government’s approval which has the initiative to cushion the harsh effects of the COVID-19 lockdown on the citizenry. Making clarification on how the plan would be implemented, the Association of Nigeria Electricity Distributors (ANED) Executive Director (Research and […]
Stock Market Recovers Further on Continuing Bargain Hunting
The market capitalisation of the Nigerian Stock Exchange (NSE) climbed back to N11.144 trillion yesterday while the NSE All-Share Index rose further by 1.47 per cent to close at 21,384.03 following sustained bullish trading. The market, which hit a record low on Monday, recovered on Tuesday due to bargain hunting by investors who are taking […]
NNPC to Extend Services to Neighbouring Countries
The Nigerian National Petroleum Corporation (NNPC) is to extend some of its services, including the building of filling stations, to some neighbouring countries. NNPC, in a statement yesterday in Abuja by its Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, also assured Nigerians of availability of petroleum products to guarantee hitch-free celebration during […]
Discos offer customers two-month free electricity
Power distribution companies on Wednesday announced that they were in support of the proposal by the National Assembly and the Federal Executive arm of government that Nigerians should get two months of free electricity. Speaking through their umbrella body, the Association of Nigerian Electricity Distributors, the Discos stated that modalities for the free power would […]
COVID-19: FG Assures MDAs of Business Continuity
The federal government has assured Nigerians of the continued support of Galaxy Backbone for private and public institutions, especially during this period of COVID-19 pandemic that is ravaging the world. A statement issued by the Ministry of Communications and Digital Economy, signed by the spokesperson to the minister, Mrs. Uwa Suleiman, noted that: “At this […]
SEC Moves against Flow of Illicit Funds into Capital Market
As part of efforts to identify investors properly, guard against flow of illicit funds into the capital market and address challenges associated with identity management generally, the Securities and Exchange Commission (SEC) has developed a standardised Investor’s Data and Consent Form to be adopted by all capital market operators(CMOs). Identity theft is the deliberate use […]
11 marginal fields lose licences
ELEVEN firms have lost their oil licences to operate marginal fields. This follows their failure to meet government’s criteria to keep the licences 15 years after they were given then franchise. The marginal oil fields include: Ekeh field Oil Mining Lease (OML) 88 operated by Movido Exploration and Production Limited; Ofa field in OML 30 […]