Economy

May
17
2023
By Amos Oge Kalu
Report says Nigeria needs $12bn for oil spills clean up

Report says Nigeria needs $12bn for oil spills clean up

Lifestyle, Metro, , ,
Nigeria, one of Africa’s largest oil producers, would need $12 billion to clean up several years of oil spills in the Niger Delta region. This revelation was contained in a report on Tuesday by the Bayelsa State Oil and Environmental Commission. According to the Commission, two international oil companies, Shell Petroleum Development Company of Nigeria Limited and Eni, an Italian oil company, have been the sole culprits of oil spills in the Southern Bayelsa State for over twelve years. The Commission said it started investigating the case of oil spills in the region in 2019 and discovered, among other findings,…
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May
11
2023
By Amos Oge Kalu
Osun: FG shut down 75 filling stations over infractions

Osun: FG shut down 75 filling stations over infractions

Business, Economy, Metro, , ,
The Nigeria Midstream and Downstream Petroleum Regulatory Authority has shut down over 75 filling stations in Osun State. On Wednesday, Mr. Kunle Adeyemo, NMDPRA state Coordinator, disclosed this while briefing journalists on the agency’s activities in April. According to him, the filling stations were shut down due to non-compliance with the agency’s regulatory standard, including operating without a valid license. He said the agency, in the period under review, beamed searchlights on over 301 across the state and discovered many had committed several infractions. He urged that stakeholders in the industry must operate within the ambit of regulation to avoid…
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May
09
2023
By Amos Oge Kalu
Nigeria’s debt profile races to N80trn under the Buhari govt

Nigeria’s debt profile races to N80trn under the Buhari govt

Business, Economy, Metro, , , ,
With Nigeria’s total debt stock racing to over N80 trillion, there is a heightened concern in the country. Stakeholders are of the view that Nigeria’s economy is in an emergency situation and on the verge of collapse if nothing is done. Although the Debt Management Office has consistently dismissed fears surrounding Nigeria’s increasing debt profile, economic analysts have never kept mum, signaling the alarm bill. DMO, in its Fourth Quarter report of 2022, said Nigeria’s total debt hovers around N46.25 trillion. Specifically, the total domestic debt stock was N27.55 trillion, while external debt stock was N18.70 trillion (USD 41.69 billion)…
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Apr
29
2023
By Amos Oge Kalu
Concerned Abians Attract Foreign Investors To Compliment Alex Otti’s Plans For A New State

Concerned Abians Attract Foreign Investors To Compliment Alex Otti’s Plans For A New State

Abia State, Amos Oge Kalu, Economy, Metro, Politics, , , , , , ,
While still basking in the euphoria of the new Abia State that will elevate the state from her present condition of underdevelopment, economic downturn, and squalor occasioned by long approaches of clueless leadership, a group of concerned Abians who are happy with the coming opportunities for the blessed state under Dr. Alex Otti, the Governor-Elect, has made giant steps at hitting the ground running with efforts that will ensure that Abia loses no time once the news government takes over helms of her affairs. In the spirit of the Ultimate Liberation and Actualization of the New Abia under the leadership…
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