Ex-NNPC top officials, firm under probe over N8.1b Bonga oil field judgment

November 12, 2019

Ex-NNPC top officials, firm under probe over N8.1b Bonga oil field judgment

SIX former top officials of the Nigerian National Petroleum Corporation (NNPC) are under investigation for their involvement in the award of a contract which led to $22,630,000 (about N8,146,800,000) judgment-debt against the corporation. Some officials of the National Petroleum Investment Management Services (NAPIMS) have also been invited for questioning. It was learnt that a Senior […]

Hard times emerges in states as revenues shrink, wage bills rise

November 11, 2019

The continued wage bills rise and dwindling revenues across the Nigerian states is piling up fiscal crisis set to hit the states in the months ahead.

Investigations showed in the last four months, states’ allocations from the Federation Account had been on the decline. It was further learnt that efforts by state governments to shore up their internally generated revenues had not recorded the expected success as only two states were able to raise their IGRs above what they received from […]

Sanwo-Olu presents N1trn 2020 budget

November 8, 2019

Sanwo-Olu presents N1trn 2020 budget

Governor Babajide Sanwo-Olu of Lagos State on Friday presented the 2020 budget of over N1 trillion. He presented the budget titled, ‘Budget of Awakening’ on the floor of the Lagos State House of Assembly. The  total budget is N1,168,561,534,191. Speaking after the presentation of the budget, the Lagos  Speaker, Mudasiru Obasa said, the House would scrutinise the budget. He said, […]

Patronise locally-made products, Buhari says in message to Lagos Trade Fair

November 1, 2019

President Muhammadu Buhari on Friday declared the 2019 edition of the Lagos International Trade Fair open, reiterating that Nigerians should continue to patronise locally-made products and services to grow the nation’s economy. The News Agency of Nigeria reports that the trade fair, which is being promoted by the Lagos Chamber of Commerce and Industry, will […]

Transport minister offers Nigerians free Lagos-Ibadan train ride  

October 30, 2019

By Samson Echenim The Nigerian government plans to roll out free train services from Ebute Meta to Ibadan on November 30 this year, barring any delay in the completion of the rail tracks from Iju-Ishaga to Ebute Meta in Lagos. The move is part of an initiative by the government to ease traffic on the Lagos-Ibadan Expressway under […]

SunTrust Bank opens shop in Uyo, promising wide range of products, services  

Ben EguzozieOctober 24, 2019

Newly licensed regional deposit money financial institution, SunTrust Bank has opened a new branch in Uyo, the Akwa Ibom State capital, promising a wide range of products and services to its potential customers, which Ayo Babatunde, the managing director said are “friendly.” Some of the products include: the Sun Temporary Overdraft (Sun-TOD), which provides loans […]

Cross River to buy up excess agro produce to check post-harvest losses

Ben EguzozieOctober 24, 2019

. As Nigeria’s post-harvest losses hit N2.7trn annually   Cross River State government is promising that going forward it would buy up all excess agricultural produce from state’s farmers, particularly those in the state’s northern part, a key agricultural belt, to check incessant annual post-harvest losses. Noel Ugbong, senior special assistant to Governor Ben Ayade on Events Marketing, Content […]

Reps, NIWA lock horns over alleged N4bn budget padding

October 24, 2019

By Samson Echenim The House of Representatives and the National Inland Waterways Authority (NIWA) are currently on each other’s neck over alleged padding of the agency’s 2017 to 2020 budgets to the tune of N4 billion. The House Committee on Waterways had alleged that NIWA’s 2020 budget was padded with over N1.5 billion appropriated for various equipment […]