Tuesday, May 31, 2016

[News Update] From Tomato Ebola to Maize Ebola.... Warships, Jets in NigerDelta

 

Latest from the Economic Confidential, the factual, authoritative and accessible economic magazine
 
After Tomato Ebola, Maize Ebola Threatens Food Production
At a period Northern Nigeria experiences tomato Ebola, there is a fear of another food scarcity with Maize Ebola in the South.
 
Military Deploys Warships, Fighter Jets to Creeks
The federal government has deployed an armada of five warships, 100 gunboats and fighter jets to the creeks of the Niger Delta, in response to continued bombing of oil and gas pipelines by Niger Delta Avengers, NDA.
 
CBN Gets Buhari's Nod On New Forex Regime
President Muhammadu Buhari has given the Central Bank of Nigeria (CBN) the go-ahead to introduce flexibility in the naira's exchange rate.
 
Stock market lost N1.732tn in one year under Buhari
The Nigerian stock market crashed by N1.732tn within one year of the Muhammadu Buhari-led Federal Government. The Nigerian Stock Exchange data shows
 
Public Offices Spend N5.3tr for Salaries, Overheads
A new report has disclosed that nearly half of the federal and 36 state governments' budgets of N12.2 trillion for the year will be spent on salaries and overheads.
 
N500bn Social Investment Scheme to Commence Soon
Ahead of the commencement of the PMB' infusion of half a trillion naira in social investment for poor and ordinary Nigerians, there is growing supports from local and international partners.
 
Nigeria Risks Losing Oil Buyers To Iran, S'Arabia
Nigeria, which recently lost its Africa's top oil producer status to Angola on the back of huge decline in its output, stands a chance of losing some of its traditional buyers to rival producers such as Iran and Saudi Arabia, industry experts have said.
 
AMCON Panel on Loans Recovery Inaugurated
The Federal Government has inaugurated a Presidential inter-agency committee on the recovery of loans of commercial banks and corporate organisations bought over by AMCON.
 
Power sector loses N2bn daily, more turbines pack up
The power sector has been losing an average of N2bn daily since the resurgence of pipeline bombings by militants in the Niger Delta, latest electricity supply statistics have shown.
 
FG approves $80bn nuclear plants' construction
Nigeria has taken a Final Investment Decision (FID) on the construction of $80 billion nuclear plants to be constructed and operated by a Russia nuclear energy firm, Rosatom, it was learnt.
 
DMO Wants Positive Attitude To Economic Challenges
The Debt Management Office (DMO) has advised Nigerians to still maintain positive attitude in spite of the current economic challenges.
 
Buhari Condemns Menace Of illegal Miners
President Muhammadu Buhari has frowned at the activities of illegal miners in the country, saying that special security team had been set up to check the menace.
 
Fraud Puts Inauguration Of Elected LG Chairmen On Hold in Sokoto
Governor Aminu Tambuwal of Sokoto state has revealed that fraud discovered in the local governments' salary vouchers had put on hold the inauguration of the elected officials.
 
Ongoing Research To Produce Cement For Road Construction -FG
Dr.-Ogbonnaya-OsuMinister of Science and Technology Dr Ogbonnaya Onu, says research is ongoing to produce cement for road construction in the country.
 
For more, please visit our websites:

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Posted by: Economic Confidential <editor@economicconfidential.com>
Reply via web post • Reply to sender • Reply to group • Start a New Topic • Messages in this topic (1)
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posted by Economic Confidential at 11:22 AM 0 comments

From Tomato Ebola to Maize Ebola.... Warships, Jets in NigerDelta

Latest from the Economic Confidential, the factual, authoritative and accessible economic magazine
 
After Tomato Ebola, Maize Ebola Threatens Food Production
At a period Northern Nigeria experiences tomato Ebola, there is a fear of another food scarcity with Maize Ebola in the South.
 
Military Deploys Warships, Fighter Jets to Creeks
The federal government has deployed an armada of five warships, 100 gunboats and fighter jets to the creeks of the Niger Delta, in response to continued bombing of oil and gas pipelines by Niger Delta Avengers, NDA.
 
CBN Gets Buhari's Nod On New Forex Regime
President Muhammadu Buhari has given the Central Bank of Nigeria (CBN) the go-ahead to introduce flexibility in the naira's exchange rate.
 
Stock market lost N1.732tn in one year under Buhari
The Nigerian stock market crashed by N1.732tn within one year of the Muhammadu Buhari-led Federal Government. The Nigerian Stock Exchange data shows
 
Public Offices Spend N5.3tr for Salaries, Overheads
A new report has disclosed that nearly half of the federal and 36 state governments' budgets of N12.2 trillion for the year will be spent on salaries and overheads.
 
N500bn Social Investment Scheme to Commence Soon
Ahead of the commencement of the PMB' infusion of half a trillion naira in social investment for poor and ordinary Nigerians, there is growing supports from local and international partners.
 
Nigeria Risks Losing Oil Buyers To Iran, S'Arabia
Nigeria, which recently lost its Africa's top oil producer status to Angola on the back of huge decline in its output, stands a chance of losing some of its traditional buyers to rival producers such as Iran and Saudi Arabia, industry experts have said.
 
AMCON Panel on Loans Recovery Inaugurated
The Federal Government has inaugurated a Presidential inter-agency committee on the recovery of loans of commercial banks and corporate organisations bought over by AMCON.
 
Power sector loses N2bn daily, more turbines pack up
The power sector has been losing an average of N2bn daily since the resurgence of pipeline bombings by militants in the Niger Delta, latest electricity supply statistics have shown.
 
FG approves $80bn nuclear plants' construction
Nigeria has taken a Final Investment Decision (FID) on the construction of $80 billion nuclear plants to be constructed and operated by a Russia nuclear energy firm, Rosatom, it was learnt.
 
DMO Wants Positive Attitude To Economic Challenges
The Debt Management Office (DMO) has advised Nigerians to still maintain positive attitude in spite of the current economic challenges.
 
Buhari Condemns Menace Of illegal Miners
President Muhammadu Buhari has frowned at the activities of illegal miners in the country, saying that special security team had been set up to check the menace.
 
Fraud Puts Inauguration Of Elected LG Chairmen On Hold in Sokoto
Governor Aminu Tambuwal of Sokoto state has revealed that fraud discovered in the local governments' salary vouchers had put on hold the inauguration of the elected officials.
 
Ongoing Research To Produce Cement For Road Construction -FG
Dr.-Ogbonnaya-OsuMinister of Science and Technology Dr Ogbonnaya Onu, says research is ongoing to produce cement for road construction in the country.
 
For more, please visit our websites:

posted by Economic Confidential at 11:22 AM 0 comments

Saturday, May 28, 2016

[News Update] Militants Vows to Shock the World as FG May Return Pipeline Protection to them

 

Latest from the Economic Confidential, the factual, authoritative and accessible economic magazine
 
N'Delta Avengers Vow to shock the world After Deadly Attacks on Installations
Niger Delta Avengers, the new militant group that has launched multiple attacks on oil and gas installations in the Niger Delta region, has struck yet again and vowed "to shock the World."
 
Ex-militants To Return For Pipeline Protection – FG
In order to find a lasting solution to the renewed militancy in the Niger Delta region, the federal government has agreed to re-engage persons from communities in the region to protect the oil pipelines.
 
Nobody can arrest Jonathan, Ijaw youths tell Buhari
The Ijaw Youths Congress has warned the President Muhammadu Buhari-led Federal Government not to contemplate arresting former President Goodluck Jonathan over the ongoing probe of massive fraud and embezzlement alleged to have taken place under his administration.
 
Oil price hits $50 amid Nigeria outages
Global oil benchmark, Brent crude, on Thursday traded above $50 per barrel for the first time in 2016 as supply disruptions and increased global demand continue to fuel a recovery.
 
Who Should I sack Among My Ministers- Buhari Asks
President Muhammadu Buhari has asked Nigerians to pass a verdict on the performance of his appointed officials during the administration's first year in office so that he will know if he should change them.
 
Killer herdsmen Have Links with Boko Haram have links –Army
The Chief of Army Staff, Lt.-Gen. Tukur Buratai has said that the violent herdsmen attacking some Nigerian communities may have links with the dreaded Boko Haram sect.
 
US-United Airlines stops flights to Nigeria
United States carrier, United Airlines, will stop flying to Nigeria from June 2016 ending operations on its only African route because of weakness in the energy sector and difficulties in repatriating money from tickets sold in the country.
 
Children's Programmes To Gulp N12.6bn
The federal government has set aside N12.6bn to cater for the needs of children in this year's budget.
 
46% of households borrow to eat in North-East —UNDP
A report unveiled by the United Nations Development Programme in partnership with Oxfam Nigeria revealed that 46 per cent of households in Nigeria's North-East borrow money to eat, while 61 per cent of residents in the region lack access to portable water.
 
Anyone Invited by EFCC Can't Come out Clean, Says Magu
EFCC secures conviction of 140 suspects in six months
The Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu has said there is no one who would "come out clean" after honouring the invitation of the anti-graft agency.
 
Govt Freezes $1.8bn Assets of Aluko, Omokore, Atlantic Energy
A Federal High Court in Lagos has granted a Mareva injunction permitting the Nigerian government to freeze assets owned by two Nigerian businessmen, Kola Aluko and Jide Omokore, and their company Atlantic Energy.
 
The Truth No One Tells President Buhari
The Nigerian Bureau of Statistics (NBS), revealed that Nigeria's economy had not grown in the first quarter of the year but had rather shrunk to its lowest level in 25 years!
 
Nine Key Milestones In President Buhari's First Year
Twelve months ago, President Muhammadu Buhari was sworn in as the President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria.
 
Nigeria 'to continue ECOWAS funding'
President Muhammadu Buhari has assured of  Nigeria's continued commitment to meet all her obligations to the ECOWAS Commission.
 
Dangote disburses N400m to Lagos women
To cushion the effect of the current economic downturn, the Dangote Foundation on Thursday commenced the disbursement of N400m micro grant to 40,000 indigent women in all the local governments in Lagos State.
 
For more, please visit our websites:

__._,_.___
Posted by: Economic Confidential <editor@economicconfidential.com>
Reply via web post • Reply to sender • Reply to group • Start a New Topic • Messages in this topic (1)
Have you tried the highest rated email app?
With 4.5 stars in iTunes, the Yahoo Mail app is the highest rated email app on the market. What are you waiting for? Now you can access all your inboxes (Gmail, Outlook, AOL and more) in one place. Never delete an email again with 1000GB of free cloud storage.
Sharing factual, timely and authoritative economic news, analyses and data, especially on Nigeria's economy from reliable sources.

.

__,_._,___

posted by Economic Confidential at 2:36 AM 0 comments

Militants Vows to Shock the World as FG May Return Pipeline Protection to them

Latest from the Economic Confidential, the factual, authoritative and accessible economic magazine
 
N'Delta Avengers Vow to shock the world After Deadly Attacks on Installations
Niger Delta Avengers, the new militant group that has launched multiple attacks on oil and gas installations in the Niger Delta region, has struck yet again and vowed "to shock the World."
 
Ex-militants To Return For Pipeline Protection – FG
In order to find a lasting solution to the renewed militancy in the Niger Delta region, the federal government has agreed to re-engage persons from communities in the region to protect the oil pipelines.
 
Nobody can arrest Jonathan, Ijaw youths tell Buhari
The Ijaw Youths Congress has warned the President Muhammadu Buhari-led Federal Government not to contemplate arresting former President Goodluck Jonathan over the ongoing probe of massive fraud and embezzlement alleged to have taken place under his administration.
 
Oil price hits $50 amid Nigeria outages
Global oil benchmark, Brent crude, on Thursday traded above $50 per barrel for the first time in 2016 as supply disruptions and increased global demand continue to fuel a recovery.
 
Who Should I sack Among My Ministers- Buhari Asks
President Muhammadu Buhari has asked Nigerians to pass a verdict on the performance of his appointed officials during the administration's first year in office so that he will know if he should change them.
 
Killer herdsmen Have Links with Boko Haram have links –Army
The Chief of Army Staff, Lt.-Gen. Tukur Buratai has said that the violent herdsmen attacking some Nigerian communities may have links with the dreaded Boko Haram sect.
 
US-United Airlines stops flights to Nigeria
United States carrier, United Airlines, will stop flying to Nigeria from June 2016 ending operations on its only African route because of weakness in the energy sector and difficulties in repatriating money from tickets sold in the country.
 
Children's Programmes To Gulp N12.6bn
The federal government has set aside N12.6bn to cater for the needs of children in this year's budget.
 
46% of households borrow to eat in North-East —UNDP
A report unveiled by the United Nations Development Programme in partnership with Oxfam Nigeria revealed that 46 per cent of households in Nigeria's North-East borrow money to eat, while 61 per cent of residents in the region lack access to portable water.
 
Anyone Invited by EFCC Can't Come out Clean, Says Magu
EFCC secures conviction of 140 suspects in six months
The Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu has said there is no one who would "come out clean" after honouring the invitation of the anti-graft agency.
 
Govt Freezes $1.8bn Assets of Aluko, Omokore, Atlantic Energy
A Federal High Court in Lagos has granted a Mareva injunction permitting the Nigerian government to freeze assets owned by two Nigerian businessmen, Kola Aluko and Jide Omokore, and their company Atlantic Energy.
 
The Truth No One Tells President Buhari
The Nigerian Bureau of Statistics (NBS), revealed that Nigeria's economy had not grown in the first quarter of the year but had rather shrunk to its lowest level in 25 years!
 
Nine Key Milestones In President Buhari's First Year
Twelve months ago, President Muhammadu Buhari was sworn in as the President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria.
 
Nigeria 'to continue ECOWAS funding'
President Muhammadu Buhari has assured of  Nigeria's continued commitment to meet all her obligations to the ECOWAS Commission.
 
Dangote disburses N400m to Lagos women
To cushion the effect of the current economic downturn, the Dangote Foundation on Thursday commenced the disbursement of N400m micro grant to 40,000 indigent women in all the local governments in Lagos State.
 
For more, please visit our websites:

posted by Economic Confidential at 2:36 AM 0 comments

Wednesday, May 25, 2016

[News Update] FAAC Shares N281bn to FG, States, LGs as Six States Hit by Tomato Ebola

 

Latest from the Economic Confidential, the factual, authoritative and accessible economic magazine
 
FAAC Shares N281bn to FG, States and LGs in May 2015
The Federation Account Allocation Committee (FAAC) has approved a total of N281bn as statutory revenue and VAT allocation for distribution to the three tiers of government allocation this month of May 2016.
 
Military Payroll: FG saves N50bn, Discovers 43,000 Ghost Workers
Chairman of the Continuous Audit team and Director with the Finance ministry, Mr Mohammed Dikwa, has disclosed that N50 billion was saved so far through the audit of military payroll.
 
Power: We're In Very Bad Situation – Osinbajo
Vice President Yemi Osinbajo says Nigeria is facing a very dire situation on power supply.
 
FG Confirms Six States Hit By 'Tomato Ebola'
The federal government on Tuesday confirmed the six states hit by a pest called the Tomato Leaf Miner or Tuta absoluta, commonly referred to as 'Tomato Ebola.'
 
FG To Formulate Strategic Plan To Curb Niger Delta Militancy
Owing to the recent incessant attacks on oil and gas installations by militants in the Niger Delta, President Muhammadu Buhari  has said the federal government was currently formulating key strategies on how to tackle the crisis.
 
Pipeline Bombing: Nigeria's Oil Export Dips Further By 21,000bpd
Nigeria is currently losing an additional $1.017 million (about N203.45 million daily) as the country's crude oil export dipped further by 21,000 barrels per day, due to recent bombings of pipelines in the Niger Delta.
 
Senate Asks FG To Recover N42bn Waivers Granted Dangote, Bua, Others
The Senate has asked the federal government to recover N42 billion grants as import duty waivers to six companies including Dangote Limited and BUA Sugar Refinery between 2013 and 2015.
 
Looters Block Effort To Recover £300m Abacha's Loot –FG
An attempt by the Federal Government to repatriate £300m stolen funds from the State of Jersey (an autonomous British territory) has suffered a setback…, says the Minister of Foreign Affairs, Mr. Geoffrey Onyeama.
 
Africa Inching Towards Debt Crisis – AfDB President
For African countries to continue to remain resilient, they must not get into a debt crisis, the President of the African Development Bank, (AfDB), Dr Akinwumi Adesina, has said.
 
Flexible Exchange Rate Policy Will Stabilise Naira- Financial Experts
Two financial houses have lauded the flexible exchange rate policy adopted by the CBN, saying it would boost forex liquidity and stabilise the Naira.

For more, please visit our websites:

__._,_.___
Posted by: Economic Confidential <editor@economicconfidential.com>
Reply via web post • Reply to sender • Reply to group • Start a New Topic • Messages in this topic (1)
Have you tried the highest rated email app?
With 4.5 stars in iTunes, the Yahoo Mail app is the highest rated email app on the market. What are you waiting for? Now you can access all your inboxes (Gmail, Outlook, AOL and more) in one place. Never delete an email again with 1000GB of free cloud storage.
Sharing factual, timely and authoritative economic news, analyses and data, especially on Nigeria's economy from reliable sources.

.

__,_._,___

posted by Economic Confidential at 12:43 PM 0 comments

FAAC Shares N281bn to FG, States, LGs as Six States Hit by Tomato Ebola

Latest from the Economic Confidential, the factual, authoritative and accessible economic magazine
 
FAAC Shares N281bn to FG, States and LGs in May 2015
The Federation Account Allocation Committee (FAAC) has approved a total of N281bn as statutory revenue and VAT allocation for distribution to the three tiers of government allocation this month of May 2016.
 
Military Payroll: FG saves N50bn, Discovers 43,000 Ghost Workers
Chairman of the Continuous Audit team and Director with the Finance ministry, Mr Mohammed Dikwa, has disclosed that N50 billion was saved so far through the audit of military payroll.
 
Power: We're In Very Bad Situation – Osinbajo
Vice President Yemi Osinbajo says Nigeria is facing a very dire situation on power supply.
 
FG Confirms Six States Hit By 'Tomato Ebola'
The federal government on Tuesday confirmed the six states hit by a pest called the Tomato Leaf Miner or Tuta absoluta, commonly referred to as 'Tomato Ebola.'
 
FG To Formulate Strategic Plan To Curb Niger Delta Militancy
Owing to the recent incessant attacks on oil and gas installations by militants in the Niger Delta, President Muhammadu Buhari  has said the federal government was currently formulating key strategies on how to tackle the crisis.
 
Pipeline Bombing: Nigeria's Oil Export Dips Further By 21,000bpd
Nigeria is currently losing an additional $1.017 million (about N203.45 million daily) as the country's crude oil export dipped further by 21,000 barrels per day, due to recent bombings of pipelines in the Niger Delta.
 
Senate Asks FG To Recover N42bn Waivers Granted Dangote, Bua, Others
The Senate has asked the federal government to recover N42 billion grants as import duty waivers to six companies including Dangote Limited and BUA Sugar Refinery between 2013 and 2015.
 
Looters Block Effort To Recover £300m Abacha's Loot –FG
An attempt by the Federal Government to repatriate £300m stolen funds from the State of Jersey (an autonomous British territory) has suffered a setback…, says the Minister of Foreign Affairs, Mr. Geoffrey Onyeama.
 
Africa Inching Towards Debt Crisis – AfDB President
For African countries to continue to remain resilient, they must not get into a debt crisis, the President of the African Development Bank, (AfDB), Dr Akinwumi Adesina, has said.
 
Flexible Exchange Rate Policy Will Stabilise Naira- Financial Experts
Two financial houses have lauded the flexible exchange rate policy adopted by the CBN, saying it would boost forex liquidity and stabilise the Naira.

For more, please visit our websites:

posted by Economic Confidential at 12:43 PM 0 comments