Economy Archives - Page 59 of 69

Oct

21

2022

Obi donates N5m to Benue flood, herdsmen victims, tasks FG to be proactive

Economy, Lifestyle, Metro, News, Politics2023, Benue State, Economy, Lifestyle, Next Level, Nigeria, Peter Obi, Politics

The Presidential candidate of the Labour Party (LP) Peter Obi has tasked the Federal Government to be proactive in mitigating the effects of the nationwide floods caused by the failure to prepare for the release of excess water from Cameroon and the heavily silted River Benue. Obi disclosed this in Makurdi, the Benue State capital, on Thursday where he had gone as part of his follow-up visit to the state governor Samuel Ortom during which he announced the suspension of his campaign to allow him to show support to victims of the flood disaster. https://twitter.com/OselokaHObaze/status/1583189227483037696?t=8KNEwXtNtFnMcJA7i2pVfA&s=19 Although Obi had appealed to…

Oct

21

2022

By Kalu Odinakachi

FG says Nigeria has lost her most-valued crude oil customers

Business, Economy, Metro, NewsBusiness, Economy, Metro, Next Level, Nigeria

Nigeria has lost its most valued crude oil customers, while some of its gas buyers now compete with the country in the same market, the Federal Government declared on Thursday. It also stated that international oil companies were massively shifting focus to alternative fuels, as the threat posed by the push for renewables was seriously gaining momentum. The government disclosed this through its Nigerian Midstream and Downstream Petroleum Regulatory Authority at the opening ceremony of the Midstream and Downstream Petroleum Industry HSE Managers’ Forum in Abuja. The Chief Executive, of NMDPRA, Farouk Ahmed, who was represented by the agency’s Executive…

Oct

21

2022

By Amos Oge Kalu

IMF says Nigeria, others at risk of political instability over Inflation

Economy, Metro, News, Opinion, PoliticsEconomy, Federal government, Inflation, Metro, Next Level, Nigeria, Opinion

The International Monetary Fund, IMF has said Nigeria and other countries in the Sub-Saharan African region risk social and political instability and worsening food insecurity because of rising inflation. According to the IMF, inflation has nearly doubled pre-pandemic levels in the region, adding that while there is a significant difference between countries, the median inflation rate in the region increased to almost nine percent in August. It said, “And even though the rise has been less dramatic than in other parts of the world, and the drivers are different, inflation is nearly double pre-pandemic levels, risking social and political instability…

Oct

16

2022

By Amos Oge Kalu

Buhari’s regime borrows N31tn, to leave N39.12tn debt for successor

Business, Economy, Opinion, PoliticsBudget, Business, Economy, Mohammadu Buhari, Nigeria, Politics

The National Assembly has approved or at least received budget estimates worth N93.453tn from the President, Major General Muhammadu Buhari (retd), in eight years. Out of the N93.453tn budgeted from 2016 to 2023, a total of N67.4tn has been committed to recurrent expenditure, including the payment of salaries and emoluments of civil servants and legislators. This amounts to 72.1 per cent of the entire budget devoted to recurrent expenditure in the life of the Buhari regime. The administration met a debt of N12.12tn on June 30, 2015, but it increased it to N42.84tn by June 30, 2022, according to statistics obtained…

Oct

15

2022

By Freeman

Tompolo’s security operatives discover more illegal pipelines in Delta

Economy, Metro, News2023, Economy, Metro, Nigeria, Security, Tompolo

Federal Government’s privately contracted oil pipeline surveillance team, Tantita Security Services Nigeria Limited, led by Government Ekpemupolo popularly known as Tompolo, has reportedly discovered more massive illegal crude oil pipelines attached to Trans Forcados Export Trunkline. The latest discoveries, sources said, were coming days after operatives of Tantita Security Services uncovered an illegal 4-kilometre pipeline connected from the Trans Escravos line into the sea. With the latest discoveries, Tantita Security Services operatives have so far uncovered more than 58 illegal tapping points used by crude oil bunkers on the nation’s oil pipelines in two States of Delta and Bayelsa. It…