[News Update] Nigeria's Oil Reserve to Dry in 2040 as FAAC shares N386bn in Jan 2010
Nigeria's Oil Reserve to Dry in 2040: The oil reserves in the Niger Delta currently at 31 billion barrels will dry and disappear by the year 2040. Activities of militant groups in the region, ineptitude leadership and rapid depletion of ore, a major component for the exploration are contributory factors that may see the end of Nigeria's oil. Regulatory and monitoring organs in the country including the Nigeria National Petroleum Corporation (NNPC), Department of Petroleum Resources (DPR) and the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) are concerned about the development… Read
Federation Account: How They Share N386bn in January 2010: As part of the two allocations at the meeting of the Federation Account Allocation Committee (FAAC) in January 2010, the Economic Confidential magazine provides here the distribution of a total sum of N386 billion being the Statutory and VAT allocations shared to all tiers of government. From the total disbursement of nets after deductions, the highest recipients are Akwa Ibom which received N10.08bn, Rivers N10.02bn, Lagos N9.1bn, Delta N8.96bn, Kano N6.4bn. The lowest recipients are…Read
N8.2bn Power Scam: Elumelu, Owan, Others in Courts: The Economic and Financial Crimes Commission (EFCC) has taken federal lawmakers, including Hon. Ndudi Elumelu and suspended Chairman of the Nigeria Electricity Regulatory Commission (NERC) Dr. Ransome Owan to Federal High Court, Abuja on frauds involving N5.2bn and N3bn respectively and on separate cases… Read
FEC Approves New Tax Policy: The Federal Executive Council (FEC) has approved a new National Tax Policy (NTP) proposed by the Federal Ministry of Finance, which seeks to provide a set of guideline, rules and modus operandi that will regulate Nigeria's tax system.The document will soon be presented to the national Economic Council (NEC)… Read
China Grants Nigeria $500M Loan for Kano-Lagos Railway: A special delegation from the Chinese government led by Deputy Chief Inspector of China EXIM Bank - Mr Yi Zong Hua, has promised that the team will work assiduously with its Nigerian counterpart towards ensuring that the Concessional loan to the tune of $500 million loan is drawdown to enable Kano-Lagos Railway project to take-off by February 2010…Read
BPE Extends Deadline for Proposals on NITEL/MTEL: The deadline for the submission of technical and financial proposals for the privatization of Nigerian Telecommunications Plc (NITEL) and its mobile arm, M-tel, has been extended from Friday, January 22, 2010 to Friday, February 5, 2010…Read
RE- Alleged Limit to Loan Approval and 5% Equity Holding in Banks: The CBN does not intend to limit the percentage of shareholding of investors in Nigerian banks as this will not only negate the provisions of the Banks and OtherFinancial Institutions Act, 1991 as amended but also the Nigerian Enterprises Promotion Act which encourages unfettered participation of both local and foreign investors in all Nigerian enterprises, including the banking sector…Read
A Call on International Bodies to Investigate Jos Violence
It is sad that yet another dastardly orgy of violence erupted in the erstwhile peaceful city of Jos, Plateau State causing the death of hundreds of Nigerians. Clashes between Christian and Muslim, indigenes and non-indigenes mobs reignited in Jos on Sunday morning, January 17, 2010. An exact toll is not known but overall more than one thousand (1000) people are thought to have died… Read
Features:
Read the following articles from this link: Features
Uzoma Okere: N100 Million Reward for Military BrutalityThinking about New Decoration and Furnishing?
Reviewing Impacts of MDGs in Nigeria
Bogus Liberalisation and Capital Flight
Understanding Islamic Banking System
Anambra Soludo is Your Ijele
State News:
Read the following news from this link: States
Yobe to Get N400m for desert control in YobeEkiti Warns Civil Servants Against Stealing
Kano to Establish N1bn fish market
Enugu Budgets N150mn for Rural Mobility
Nasarawa to construct 5-Star hotel
For more just visit and search:
posted by Economic Confidential at 4:22 AM
0 Comments:
Post a Comment
<< Home