Economy

May
19
2023
By Amos Oge Kalu
Breaking: Buhari appoints Toyin Madein as Accountant-General

Breaking: Buhari appoints Toyin Madein as Accountant-General

Business, Economy, , , ,
he President, Major-General Muhammadu Buhari(retd), has approved the appointment of Toyin Madein as the substantive Accountant-General of the Federation. This was contained in a statement, dated May 19, 2023, which was signed by the Director, Communications, Office of the Head of Civil Service of the Federation, Mohammed Abdullahi Ahmed, on Friday, in Abuja. The Head of the Civil Service of the Federation, Dr. Folasade Yemi-Esan, stated that the appointment took effect from Thursday, May 18, 2023. Madein was born on March 7, 1965 7 in Iperu Remo, Ikenne Local Government Area of Ogun State, and until her appointment, she was…
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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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