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FG returns petrol subsidy, retains official pump prices


The Federal Government on Saturday recommenced the payment of subsidy on petrol as it subsidised the commodity by N5.84 for every litre of premium motor spirit consumed in Nigeria. Subsidy on petrol was stopped in January after the review of the pricing template of the product by the government. It also announced that the current official pump prices of petrol ...

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How to get funds for your business


 Turning great Ideas into great money  Have a great business idea is only the first step in  the journey to raising your business empire. Turning your business idea into a money- making venture requires raising the capital necessary to get your blessing running and that represents the next step of thousands of other steps. In starting your own business, the ...

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NNPC spends N103.4 billion to protect oil pipelines in one year

pipelines repairs

*Corporation loses N57.71b to vandalism • 2,832 vandalised points recorded in 13 months, 400 in 2016 • Ghana may dump Nigeria, looks elsewhere for gas supply It may be virtually impossible for the Nigerian National Petroleum Corporation (NNPC) to operate its refineries, crude oil and products pipelines nationwide profitably, unless government takes drastic measures to eliminate all acts of pipeline ...

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NASS slashes, passes N6.06trn 2016 budget

File: President Muhammadu Buhari laying the box before a joint session of the National Assembly

The National Assembly, yesterday, passed a N6.06 trillion 2016 budget into law, following a motion by the Chairman, Joint Committee on Appropriations, Senator Danjuma Goje, seconded by Senator Andy Uba, thus reducing the President’s proposal by N17 billion. While the President proposed a budget of N6.07 trillion, the National Assembly slashed it to N6.06trillion. The 2016 budget had been trailed ...

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FG admits cash scarcity across Nigeria, to inject N350bn into economy

President Muhammadu Buhari

The Federal government will inject N350 billion to stimulate the economy in the next few months as soon as the 2016 appropriation bill is signed into law. Finance Minister Kemi Adeosun made the disclosure on Tuesday in Abuja at a media briefing at the end of the two-day National Economic Council retreat. “In anticipation of the approval of the budget, ...

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FG apologises to Nigerians over nationwide blackout


The Federal Government on Friday apologised to Nigerians for the poor power situation the country has been witnessing in the past few weeks. In a statement made available to our correspondent in Abuja, the Minister of Information and Culture, Alhaji Lai Mohammed, blamed the situation on gas shortage, vandalism and sabotage. He also said all efforts were being made to ...

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MAYHEM IN KETU: Ambode slams curfew, shuts market

Mayhem in Lagos

Five persons were  reportedly killed and several others injured during an ethnic crisis which broke at Mile 12 market, along Ikorodu expressway , Lagos, between Hausa and Yoruba traders on Thursday. Several shops, two religious houses , including vehicles were also razed  by the warring traders , with goods worth several millions of naira destroyed. However the Lagos State Commissioner ...

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Prepaid Meter: Anambra Electricity consumers protest, others threaten showdown

Chairman EEDC, Sir Emeka Offor

Electricity consumers from Odume Layout in Obosi on Monday stormed the office of the Enugu Electricity Distribution Company (EEDC) at Ogidi in Anambra state to protest alleged continued issuance of estimated bill by officials of the company in the area.The protesters grounded activities at the EEDC office in Ogidi, as they rejected estimated bills issued to them and demanded for ...

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Militants threaten to blow up more oil installations

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NIGER Delta Avengers, the militant group which claimed responsibility for blowing up the Forcados Terminal Pipeline in Delta State, recently, has served notice of attacks on more oil installations in the region until the Federal Government addresses its grievances. The group vowed: “Shell Petroleum Development Company, SPDC, Forcados terminal is our latest casualty. There are many more to follow in ...

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Buhari’s wife commissions N4bn Erisco Foods tomato paste plant

Aisha Buhari

…Directs regulatory agencies to check dumping of foreign products ERISCO Foods Limited on Thursday commissioned its new 450,000 tonnes tomato paste processing plant in Oregun, Lagos State, constructed at a cost of N4 billion ($150 million). Wife of Nigeria’s President, Mrs. Aisha Buhari, who inaugurated the plant tasked relevant government regulatory agencies to step up actions towards checking the import ...

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