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Petrol to sell below N87 by January, says FG

The Minister of State for Petroleum Resources, Dr. Emmanuel Ebe Kachikwu, has said petrol will be sold below N87 per litre from January 2019. Speaking at Port Harcourt Refinery and Petrochemicals yesterday, the minister said he has already approved the new template for petrol price and it will take off …

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ONION

Income boom for onion farmers in Sokoto

The bumper harvest of onion recorded in Sokoto this year is translating into an income boom for its farmers in the state. Many of the farmers, who were interviewed, could not hide their happiness over what one of them described as a rewarding development. “This year‘s harvest is favourable and …

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buhari

We won’t rush petroleum industry reforms – Buhari

President Muhammadu Buhari said on Thursday that his administration would not rush reforms in the petroleum and gas industry, saying that reforms must be carefully thought out to serve the interests of Nigerians. Speaking specifically on the much-awaited Petroleum Industry Bill, Buhari stated that discussions on it were ongoing and …

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second-niger bridge

N33bn released for Second Niger Bridge project

A total amount of N33bn has so far been released for the implementation of the second Niger bridge project. The Managing Director, Nigerian Sovereign Investment Authority, Mr Uche Orji, gave the figure while speaking shortly after an inspection of the project. Orji visited the site with the Obi of Onitsha, …

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Ibe Kachikwu

Kachikwu: Nigeria will find it difficult to cut oil production

As the Organisation of Petroleum Exporting Countries is keen to extend efforts to ward off oil supply glut and prop up prices, the Minister of State for Petroleum Resources, Dr Ibe Kachikwu, has said it is very difficult for Nigeria to reduce its crude oil production. Global oil benchmark, Brent …

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buhari

Buhari promises to sign Petroleum Bill once…

President Muhammadu Buhari on Thursday declared that he would sign the Petroleum Industry Governance Bill into law once the bill was presented to him.  Buhari spoke at a lecture to commemorate the 40th anniversary of the National Union of Petroleum and Natural Gas Workers in Abuja.  The President said the …

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CBN Governor, Mr. Godwin Emefiele

CBN to monitor banks’ lending to politicians ahead of 2019 elections

The Central Bank of Nigeria on Thursday said it would monitor the rate at which banks provide loans to politicians to finance their campaign spending ahead of the 2019 general elections. The Governor of the CBN, Mr Godwin Emefiele, disclosed this while briefing journalists shortly after a two-day Monetary Policy …

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CBN Governor, Mr. Godwin Emefiele

Economy may slip back into recession – CBN

The Monetary Policy Committee of the Central Bank of Nigeria on Tuesday warned that weak economic fundamentals currently being shown by the economy were putting the country’s exit from recession under threat. The Nigerian economy exited recession in 2017 after suffering contraction for five consecutive quarters. Addressing journalists shortly after …

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DG, Debt Management Office, Patience Oniha

‘Why Nigeria is borrowing from China’

The Federal Government has explained that it borrows from China in order to take advantage of a cheaper source of finance. In a statement made available to newsmen in Abuja on Tuesday, the Debt Management Office said that the Federal Government was also borrowing from China in order to diversify …

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