Dangote Refinery to Begin Distribution of Petrol Nationwide Sunday
From Victor Osula, Abuja After several delays, the federal government at the weekend reached an agreement with the management of Dangote Refinery on the commercial terms for the supply of crude oil to the refinery and the off-taking and distribution of petrol and diesel from the facility, starting today, Sunday. The terms of the agreement would ensure that the distribution of petrol from the 650,000 barrels per day Lagos-Lekki Free Zone-based facility would start with an initial 25 million litres per day. Unveiling The agreement in Abuja on Friday, the Executive Chairman of the Federal Inland Revenue Service (FIRS), Dr. Zacceus Adedeji, who represented the Minister of Finance and Chairman of the Presidential Committee on the Sale of Crude Oil …
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NESG Says Nigeria’s Economy Struggling
From Victor Osula, Abuja The Nigerian Economic Summit Group (NESG), a private sector-led think tank, has said businesses and citizens in the country are under massive pressure from rising costs, inflation, and a struggling economy. “Our businesses and citizens are under massive pressure from rising costs, inflation, and a struggling economy,” NESG said Friday. This is coming after a report of trade surplus by the National Bureau of Statistics (NBS). The Bureau had reported that Nigeria recorded a trade surplus of N6.95 trillion in the second quarter of 2024, representing a 6.60% increase from the previous quarter, which had a surplus of N6.52 trillion. While President Bola Tinubu, on Thursday, welcomed the report and assured of a robust economy, expressing …
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Mutfwang Set To Build Jos/Bukuru Value Chain Processing Commodity Marketing
From Yakubu Busari,Jos Governor Caleb Mutfwang has promised to build Jos /Bukuru market as major mean of government policy to further boost the economy activities by setting aside N1bn for young entrepreneurs in Plateau State to enhance the processing and marketing of agro products. He said the completion of the exercise would harness the potential of Plateau State towards redesigning the transformation of the economy well-being by enhancing the agriculture commodity marketing roadmap. Mutfwang’s stated this during a 2-day workshop on a statewide sensitization programme on commodity marketing and food security ,a sustainable roadmap for Plateau State held at Eliel Centre in Jos, the state capital. He said, he was ‘delighted in tackling the new challenging period in our nation’s …
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FG Proposes Temporary Zero-Duty on Food Imports To Ease Inflation
By Daniel Peters Edun and Adeniyi In a decisive move to combat soaring food prices and alleviate the burden of inflation on Nigerians, the Federal Government has proposed a temporary zero-duty levy on selected food imports. This initiative announced by the Finance and Coordinating Minister of the Economy, Mr. Wale Edun, aims to increase food availability, reduce prices as well as provide immediate relief to citizens. The Minister disclosed this shortly after chairing a closed-door session of a pivotal meeting with the Nigeria Customs Service Board in Abuja. Mr Edun stated that the measure is designed to alleviate the current food shortage and reduce soaring food prices, which have been a major contributor to inflation across the country. “We discussed …
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Nigeria’s Raises Over $900m In Domestic Dollar Bond
From Victor Osula, Abuja Nigeria has raised over $900 million from its first-ever Domestic Federal Government of Nigeria (FGN) US Dollar Bond issuance. The bond is the first under the Domestic FGN US Dollar Bond Programme, established according to Presidential Executive Order No. 16 of 2023 (Foreign Currency Denominated Financial Instrument Local Issuance Programme and Related Matters Order). The Debt Management Office (DMO), which handled the issuance on behalf of the Federal Government, announced that the bond had been priced at par with a semi-annual coupon rate of 9.75 percent and a five-year tenor. The maiden dollar bond issuance attracted diverse investors, including Nigerians and non-Nigerians residing in the country, Nigerians in the diaspora, and qualified institutional investors. In a …
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Edo 2024: The Case for Continuity and Sustainability, By Marcel Okeke
Governor Obaseki By virtually all performance indices, the Godwin Obaseki-led administration in Edo State has done exceptionally well in nearly …
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President Tinubu’s decisive leadership on security, By Fredrick Nwabufo
Tinubu It takes decisive leadership to roll back the forays of terror. Terror understands the language of terror. The recent …
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Defamation: Ribadu demands N10b from Edo PDP chair, Aziegbemi
By Ayo Kehinde Mallam Nuhu Ribadu, National Security Adviser, NSA, has demanded a retraction of a defamatory publication by the …
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Kogi Promises Payment of Bursary Award for Eligible Students
From Joseph Amedu, Lokoja The Kogi State Government has given an assurance that all eligible students who have completed their …
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UK Announces New Financial Guidelines For Foreign Students
By Ayo Kehinde The United Kingdom (UK) government has introduced new financial guidelines for international students, effective January 2025. The …
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Nigerian Sentenced to Death in Indonesia for Drug Trafficking Released
Dabiri- Eruwa Hon Abike Dabiri-Erewa, Chairman/CEO, Nigerians in Diaspora Commission, (NIDCOM) has said that a Nigerian man, Emmanuel Ihejirika who …
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Ododo Drums Support For Edo APC Governorship Candidate, Senator Okpebholo
From Joseph Amedu, Lokoja Kogi State Governor, Ahmed Usman Ododo has described the governorship candidate of the All Progressives Congress …
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20-year-old boy narrates how he killed Kogi varsity student for money ritual
From Joseph Amedu, Lokoja The Kogi State Police Command has paraded four suspects in connection with the killing of Damilola …
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Edo Governorship Candidate Senator Monday Okpebholo Faces Charges of Forgery and Perjury Over Age Falsification
From Victor Osula, Abuja Senator Okpebholo A Magistrate Court sitting in Abuja has summoned Senator Monday Okpebholo, the All Progressives …
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Abuja DisCo Fined N1.69bn For Outrageous Billing, Gets Order To Compensate Customers
From Victor Osula, Abuja The Nigerian Electricity Regulatory Commission (NERC) has fined the Abuja Electricity Distribution Company (AEDC), N1.69 billion …
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