LEADERSHIP
NASS Debates, Passes 2016 Budget Today
After bouts of buckpassing on alleged errors in the 2016 budget estimates, the Senate is set to pass its version of the Appropriations Bill, before proceeding on its Easter recess.[Read More…]
THISDAY
NBS: Unemployment Rate Rises to 10.4% in Fourth Quarter
The unemployment rate in the country has climbed to 10.4 per cent in the fourth quarter of last year (Q4 2015) compared to 9.9 per cent in the previous quarter, the National Bureau of Statistics (NBS) stated monday.[Read More…]
Emefiele: CBN’s Power Intervention Fund Contributes 1,274MW of Electricity
Despite the poor electricity generation in the country, the Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele has said that projects funded by the apex bank’s intervention fund in the power sector added a generating capacity of 1,274 megawatts of electricity to the national grid in 2015.[Read More…]
Private Companies to Add 1.4mbpd Refining Capacity
The Department of Petroleum Resources (DPR) has said that licensed private refineries in the country have proposed combined refining capacity of 1,429,000 barrels of crude oil per day, stressing that it has not withdrawn the license of any private refinery in the country.[Read More…]
States to Enjoy 13% Derivation from Solid Minerals
The Minister of Solid Minerals, Dr. Kayode Fayemi has said that solid minerals-producing states would enjoy 13 per cent derivation as crude oil-producing states as part of the efforts to encourage the development of solid minerals in the country.[Read More…]
LEADERSHIP
Sterling Bank’s Profit Rises By 14.3%
Sterling Bank Plc has said, its profit after tax went up by 14.3 per cent for the financial year ended December 31, 2015.[Read More…]
Nigeria To Undergo Second Round Anti-Money Laundering Assessment
The Inter-Government Action Group against Laundering in West Africa (GIABA) has said that Nigeria will need to attain high level of compliance with international best practices on Anti-Money Laundering and Terrorist Financing in other to scale through on the Financial Action Task Force (FATF) second round of mutual evaluations.[Read More…]
THE GUARDIAN
NNPC failed to remit N4.9tr to Federation Account, says Fiscal Commission
Amid the denial by the Nigerian National Petroleum Corporation (NNPC) of the allegation by the Auditor- General of the Federation ( AuGF), Mr. Samuel Ukura, that it didn’t remit into the Federation Account N3.25 trillion crude oil minerals revenue, the Revenue Mobilisation, Allocation and Fiscal Commission ( RMFAC) has said the amount quoted by the AuGF was under-reported.[Read More…]
BUSINESSDAY
Germany begins construction of mini grids to electrify rural areas in five Nigerian states
Consciously observant of Nigerian challenges in terms of energy generation and distribution over the years, especially in the rural areas.[Read More…]
THE NATION
Domestic operators to spend N560b on aircraft year, maintenance abroad
Domestics operations will spend over N560 billion on aircraft maintenance this year, investigations have revealed.[Read More…]
REUTERS
Asian shares wobble as Fed rate talk revives
Asian stocks seesawed on Tuesday as hawkish comments from U.S. Federal Reserve officials clouded the monetary policy outlook less than a week after Fed Chair Janet Yellen had set out a more cautious path to interest rate increases this year.[Read More…]
BLOOMBERG
Dollar Weakens Amid Skepticism of Fed Rate Increase in April
A gauge of the dollar dropped, halting a two-day advance, as comments by Federal Reserve officials suggesting the central bank may raise interest rates as soon as next month failed to boost the U.S. currency’s appeal.[Read More…]
Oil Trades Near $41 as OPEC Sees Moderate Gains Amid Output Drop
Oil traded near $41 as OPEC said prices will rebound to a “moderate” level even if Iran doesn’t join other producers in freezing output.[Read More…]