The Nigeria National Petroleum Corporation, NNPC, says the country’s oil revenue target declined by N1.06 trillion due to COVID-19 and low crude oil price. The NNPC’s Group Managing Director, Malam Mele Kyari, made the disclosure on Tuesday during a Nigerian Stock Exchange (NSE) oil and gas webinar with theme as: “Perspectives of Operations and Industry Experts Post- COVID-19”. According to Kyari, the country’s N2.64 trillion oil revenue target declined by 40 per cent as a result of twin shocks of COVID-19 and low crude oil price. He said that the pandemic created an unprecedented and global crisis that would cause…
Author: Editor
The Senate on Tuesday at plenary received a request from President Muhammadu Buhari for the confirmation of Mr. Sanusi Garba as Executive Chairman of the Nigeria Electricity Regulatory Commission (NERC). Also to be confirmed are: Dr. Musiliu Olalekan Oseni, as Vice Chairman and Aisha Mahmud as Commissioner. The request was contained in a letter, dated October 15, and read at plenary by President of Senate, Ahmad Lawan. According to Buhari, the request is made pursuant to Sections 34 and 40(1) of the Electricity Power Sector Reform Act. In a separate letter, Buhari also sought the confirmation of the appointment of…
The Inspector General of Police (IGP), Mr Mohammed Adamu, on Tuesday said that 12 suspects have been arrested in connection with the attacks and arson on Police Stations in Benin. In a statement in Abuja, the Force Public Relations Officer (FPRO), Mr Frank Mba, disclosed that five AK47 rifles, earlier stolen from vandalised Police Stations, have also been recovered. Adamu had ordered the deployment of anti-riot police unit, the Police Mobile Force (PMF), to protect lives and property of all Nigerians and secure critical national infrastructure across the country. He had also ordered massive deployment of Police operatives to strengthen…
The management of Arik Air has announced the cancellation of all its flight operations for Wednesday, Oct. 21 due to the 24-hour curfew imposed on the residents of Lagos State by the state government with effect from 4 p.m. on Tuesday, October 20, 2020. Mr Adebanji Ola, the Communications Manager of Arik Air, said in a statement in Lagos on Tuesday all booked passengers on the cancelled flights are advised to reschedule their flights for later dates at no extra cost. Governor Babajide Sanwo-Olu of Lagos State had on October 20 announced a 24-hour curfew effective from 4:00p.m. on Tuesday. This was due to reports…
The Nigerian Stock Exchange (NSE) market indices on Tuesday recorded a marginal growth of 0.03 per cent following gains by Zenith Bank and 22 other equities. Specifically, the market capitalisation which opened at N14.979 trillion inched higher by four billion naira or 0.03 per cent to close at N14.983 trillion. Also, the All-Share Index rose by 17.51 points or 0.03 per cent to close at 28,665.82 from 28,658.31 achieved on Monday. The uptrend was impacted by gains recorded in large and medium capitalised stocks, amongst which include the Nigerian Breweries, Flour Mills, International Breweries, Julius Berger and UACN. Speaking on…
Governor Udom Emmanuel of Akwa Ibom on Tuesday presented a budget of N435.65 billion for the 2021 Financial Year to the state House of Assembly for consideration. The proposed budget is higher than that of the current 2020 revised appropriation of N366 million by N69.65 billion. The appropriation bill comprised of N158.40 billion as recurrent expenditure, N226.96 billion as capital expenditure and N50.29 as consolidated revenue. Emmanuel said that the total projected recurrent revenue for 2021 is estimated at N255.03 billion as against the approved revised provision of N203.56 billion for 2020. In the 2021 fiscal year, the bill tagged…
The Police Command in Ekiti on Tuesday confirmed that some hoodlums allegedly gang raped three girls during the ongoing EndSARS protest in the state. The police also confirmed that three trucks belonging to a popular business conglomerate in the country were burnt down at various spots during the protest. ASP Sunday Abutu, the spokesman of the Police Command, confirmed the burning of the trucks and the rape of the girls to newsmen on Tuesday. He warned that hoodlums were gradually hijacking the protests, which he said could portend danger for the country. ” Every Nigerian or group has the legitimate…
The Speaker of the House of Representatives, Rep. Femi Gbajabiamila says he will not not sign the 2021 Appropriation Bill if compensation for victims of police brutality is not captured. Gbajabiamila said this while addressing members of the house at the Tuesday’s plenary in Abuja. The speaker also said that the budget must meet the reasonable demands of the Academic Staff Union of Universities (ASUU) before he signs it. The rep said that there is no better time to rethink the system of funding for higher education in Nigeria than now as the current system does a great disservice to…
Ekiti State Governor, Dr Kayode Fayemi, on Tuesday imposed a 24-hour curfew on the state following the EndSARS protest which has turned violent in the last couple of days. The development was made known in a statement signed by the Secretary to the State Government, (SSG), Mr Biodun Oyebanji, and made available to news men in Ado Ekiti. According to the statement, the Ekiti State government has observed with growing concern, how the EndSARS protest, which started as a peaceful protest against police brutality by youths in the state, has been hijacked by hoodlums who capitalised on the situation to…
The Federal High Court sitting in Lagos, on Tuesday, restrained Nnimmo Bassey from parading himself as the Chairman of Board of Trustees of Environmental Rights Action/Friends of the Earth Nigeria, ERA/FoEN, pending the hearing of the motion on notice. The matter is a case of Incorporated Trustees of Environmental Rights Development Foundation (ERA/FoEN) and two others, against Arc. Nnimmo Bassey and three others in case number (FHC/L/CS/FHC/1421/2020). The court also restrained the Corporate Affairs Commission, CAC, from recognizing or acknowledging him as chairman of the Board of Trustees. Counsel to ERA/FoEN, President Aigbokhan, Esq had argued in its motion exparte,…