1990 —2014 : NIGERIA RECEIVED USD1TRILLION FROM OIL ……Prof Osinbajo ….says Nigeria needs fiscal Federalism, good governance, not geographical Restructuring. The Vice President Professor Yemi Osinbajo said oil revenue accruable to Nigeria under successive administrations between 1990 and 2014 is about one trillion dollars. Relying on the statistics of the Organisation of Petroleum Exporting Countries…
A communiqué issued at the end of the 25thAnnual LAPO Development Forum held at the Federal Palace Hotel, Victoria Island, Lagos State on Friday, August 24th 2018, under the theme: Towards Sustainable Socio-Economic Transformation of Nigeria: Options for Non-State Intervention. PREAMBLE The 24th Annual LAPO Development Forum of the Lift Above Poverty Organisation (LAPO), a…
The Niger Delta Development Commission, NDDC, has expressed dismay over the disruption of activities at its headquarters in Port Harcourt on Tuesday by officials of the Rivers State Internal Revenue Service, RIRS. Speaking on behalf of the NDDC Managing Director, Dr. Nsima Ekere, the Special Assistant on Media, Chijioke Amu-Nnadi, said the Commission was surprised…
The Senate on Tuesday approved a $5.5 billion external loan request by President Muhammadu Buhari. The president had in a letter on Tuesday October 10 sought the Senate’s approval for $3 billion external loan and $2.5 billion Eurobond or Diaspora bond in the international market. Mr. Buhari explained that the bonds would be channelled towards…
THE Federal government has described the 3,050megawatts hydro power project worth over $5.792 billion (about N2.096 trillion) in Taraba State as a new dawn in the nation’s power diversity and energy needs. Minister of Power, Works and Housing, Mr. Babatunde Fashola, who made remarks while signing the contract agreement for the joint venture with three…
FG has released a State by State breakdown of the first tranche of Paris Club refunds paid to date as contained in the table below: REFUND OF OVERDEDUCTIONS ON PARIS CLUB LOANS ON THE ACCOUNTS OF STATE AND LOCAL GOVERNMENTS (1995-2002) S/N STATE TOTAL AMOUNT PAID IN NGN 1 ABIA 11,431,531,742.97 2…
The Bayelsa state government has released the sum of N300 million augment payment of primary school teachers in the Local Government Areas of the State. Consequently, the Nigeria Union of Teachers (NUT, Bayelsa State Wing) has therefore suspend the ongoing strike action with immediate effect. A statement issued on Tuesday by the Chairman of the…
A Federal High Court in Lagos has fixed May 25 to rule on whether it has jurisdiction in hearing the suit involving the Chairman, Capital Oil and Gas Limited, Ifeanyi Ubah, and the State Security Service alongside others. Justice Idris Mohammed adjourned the matter after hearing counter affidavits filed by counsel to the 4th and…
Rachid Benmessaoud, Country Director World Bank for Nigeria, has assured the Economic and Financial Crimes Commission, EFCC, of adequate support under the World Bank’s ‘Economic Governance Project’ to further strengthen the anti-corruption war in Nigeria. Benmessaoud, who is also the Coordinating Director for the West African Regional Integration Program, made this assertion on Friday, May…
The 20.31 per cent increase in the level of revenue recorded by the Nigerian Customs Service from all its activities at its Apapa Command in the first quarter of this year as against the figure in the same period of last year has been attributed to improved compliance to procedures by officers and stakeholders including…
