The Independent Petroleum Marketers Association of Nigeria (IPMAN) has advised the Federal Government to allow investors to take over the running of the country’s three refineries. Alhaji Danladi Pasali, National Secretary of IPMAN, stated this in an interview on Wednesday in Abuja. He spoke while reacting to a report that the pump price of petrol might likely get to N190 per litre and the price of crude oil hit 60 dollars per barrel in the international market. Speaking at the official launch of Nigerian Upstream Cost Optimisation Programme in Abuja, Minister State for Petroleum Resources, Chief Timipre Sylva said with…
Author: Editor
The newly appointed vice chancellor, Federal University Kashere (FUK), located in Gombe state, Prof. Umar Pate has officially assumed office, with a call on the university staff to support him in moving the university forward. Pate, who made the call while speaking with news men in Kashere on Wednesday, shortly after the handing over ceremony, noted that moving the university to a greater height required collective responsibility, hence the call to staff. “The Federal University is still a young institution, we need to put hands together and move the institution to enviable height,” he said. The VC pledged to improve…
The Federal Executive Council (FEC) has approved about N8.9 billion for the establishment of a new National Information and Communication and Technology (ICT) park in the Federal Capital Territory (FCT), to coordinate public and private ICT hubs in the country. The Minister of Communication and Digital Economy, Dr Isa Pantami, disclosed this to State House correspondents on the outcome of the Council meeting, presided over by President Muhammadu Buhari at the Council Chamber, State House, Abuja, on Wednesday. Pantami explained that a 4,200 square meter land had already been acquired for the establishment of the ICT Park, saying, “The Federal Executive…
The Federal Executive Council has, at its meeting on Wednesday, approved a new Medium Term Debt Management Strategy (MTDS) for Nigeria, for the period 2020-2023, according to the official website of the Debt Management Office (DMO). DMO explained that the MTDS was a policy document that provided a guide to the borrowing activities of a government in the medium-term, which is usually four years. It said: “it is recognised as one of the best practices in public debt management and is recommended by the World Bank and International Monetary Fund (IMF). “This is to ensure that public debt management is…
The Central Bank of Nigeria (CBN) has directed commercial banks and other financial institutions to, henceforth, accept Machine Readable Travel Documents (MRCTD) and Refugee Identification Card, as means of identification for financial transactions. The directive was given by Dr Kevin Amugo, Director, Finance Policy Regulation Department, on Wednesday, in Abuja, through a memo to the banks, other financial institutions and payment service providers in the country. Amugo said that the directive was necessitated by the challenges which refugees and asylum seekers experience, with means of identification, when they engaged in financial transactions. He also urged the banks to improve on…
The Nigeria Centre for Disease Control (NCDC) has announced eight deaths and 1,131 new cases of COVID-19, bringing the total number of infected people in the country to 142,578. The NCDC disclosed this on its official Twitter handle on Wednesday. The health agency said that in the last 24 hours 1,131 people tested positive in 21 states and the Federal Capital Territory (FCT). It confirmed additional eight coronavirus-related deaths also in24 hours, bringing the country’s COVID-19 related deaths to 1,702. The NCDC stated that the registered infections showed that Lagos State recorded the highest number with 297 new infections, taking…
The Nigerian Army has dismissed reports that 20 soldiers were killed by Boko Haram/Islamic State West Africa Province (ISWAP) terrorists in the North-East Theatre of Operation Lafiya Dole. The Director, Army Public Relations, Brig.-Gen. Mohammad Yerima via a statement issued on Thursday in Abuja, said the information was false. Yerima described the report by an online medium, titled; Nigerian Army Keeps Mum As Boko Haram Terrorists Kill ’20 Soldiers’ In Borno” as false, fake and baseless. He said the report was aimed at discouraging the public and demoralising troops on the untiring efforts in the overall fight against insurgency. According…
By Waheed Ogunjobi Ever since the Federal government, through the Nigerian Communication Commission (NCC) issued the new order on the linkage of the National Identification Number (NIN) with the Subscriber Identification Module, otherwise known as the SIM card by all Nigerians coupled with the issuance of deadline to that effect and the threats that follows, there have been flurry of activities around the offices of the National Identification Management Commission, NIMC, by Nigerians who are eager to beat the deadline as well as a sudden reawakening on the essence of getting enrolled with the scheme. And despite the shift of…
The bears continued to dominate trading on the Nigerian Stock Exchange (NSE) on Wednesday with investors losing N426 billion in about six hours of trading. Consequently, the market capitalisation which opened at N21.715 trillion shed N426 billion or 1.96 per cent to close at N21.289 trillion due to massive profit-taking. Similarly, the All-Share Index dipped 814.15 points or 1.96 per cent to close at 40,696.01 from 41,510.16 recorded on Tuesday. The market loss was driven by price depreciation in large and medium-capitalised stocks amongst which were; Fidson, Chemical & Allied Products, Regency Alliance Insurance, Sovereign Trust Insurance and Sunu Assurance.…
US drug firm, Pfizer, has announced a partnership with IDA Foundation, an independent social enterprise providing essential medicines to low-and middle-income countries, to provide equitable access to quality cancer treatments, the firm said on Wednesday. The agreement covers the delivery of the cancer treatments in almost 70 developing countries across Latin America, Asia, Africa and the Western Pacific region. At least 45 African countries are covered by the supply agreement. “The supply agreement means that millions more patients will now have the potential to access innovative chemotherapy medicines for multiple types of cancer,” the drug maker said in a statement.…