Saturday , 22 February 2020
Latest News
Home » Economy (page 10)

Economy

Suspected herdsmen ‘annexes’ Ekiti, hoist Flag near Fayemi’s hometown

Suspected herdsmen ‘annexes’ Ekiti, hoist Flag near Fayemi’s hometown

Some suspected herdsmen have reportedly taken over some areas in Orin-Ekiti, Ido/Osi local government area of Ekiti State near Governor Kayode Fayemi’s hometown, Isan-Ekiti. We gathered that the herders had hoisted a red flag at the ‘annexed’ farmlands, where they warned the farmers to keep off or face death. *Protesting youths of the community Residents told journalist on Wednesday during ... Read More »

Christmas: Borno Governor releases December salaries, pensions  

Inbox x By:Isa Umar Gusau Workers and pensioners in Borno State will celebrate the Yuletide with smiles as December salaries and pensions have started hitting their bank accounts. This follows a directive by the state governor, Prof. Babagana Umara Zulum that no affected Christian should celebrate Wednesday’s Christmas without December salary or pension. The governor directive, according to his spokesman, ... Read More »

Finance Ministry launches electronic records mgt project

Finance Ministry launches electronic records mgt project

  BY ONYEKA AJUMOBI ONOCHIE The Honourable Minister of Finance, Budget and National Planning, Zainab Shamsuna Ahmed, on Monday in Abuja, launched an electronic records management (ERM) platform for the tracking of incoming and outgoing mails and letters from and to the ministry. The minister noted that the launch was in furtherance of the current administration’s commitment to digitizing all ... Read More »

Kwara budgets N162b for 2020

Kwara budgets N162b for 2020

Governor AbdulRahman AbdulRazaq of Kwara State has presented a budget of N162 billion for the 2020 fiscal year to the State House of Assembly today. A breakdown of the package showed that the budget comprises 53 percent and 47 percent for capital and recurrent expenditures respectively. “Basically, we are presenting a budget estimate of N162 billion for 2020, up from ... Read More »

Emefiele Seeks Govs’ Intervention to Save $500m from Palm Oil Imports

Emefiele Seeks Govs’ Intervention to Save $500m from Palm Oil Imports

The Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, yesterday called on state governors to help the country stop the $500 million of scarce foreign exchange being expended on the importation of palm oil to meet identified demand gap of 1.25 million metric tonnes. Emefiele, at the launch of Edo Oil Palm Programme and the Plantation Owners Forum ... Read More »

Nigeria Must Adopt Knowledge-based Economy to Survive, Says Communications Minister

Nigeria Must Adopt Knowledge-based Economy to Survive, Says Communications Minister

The Minister for Communications and Digital Economy, Dr. Isa Ibrahim Pantami, has said Nigeria must go digital in line with the trend across the world if the economy must survive. He said the whole world is shifting from natural resources to knowledge-based economy, adding that Nigeria’s continuous reliance on oil would amount to putting the nation’s eggs in one basket. ... Read More »

Buhari welcomes proposal by Hyundai to set up car plant in Nigeria

Buhari welcomes proposal by Hyundai to set up car plant in Nigeria

President Muhammadu Buhari says Nigeria will collaborate with and support Hyundai Engineering Company Limited to set up a car plant and also rehabilitate petroleum refineries. The president stated this when he received the President/Chief Executive Officer of Hyundai Engineering, Mr Chang Hag Kim, at State House, Abuja, on Tuesday. He said that Nigeria was committed to ensuring energy security in ... Read More »

BREAKING: President Buhari signs 2020 Budget into law

BREAKING: President Buhari signs 2020 Budget into law

President Muhammadu Buhari has signed the N10.59 trillion 2020 appropriation bill into law. The ceremony was witnessed by Vice President Yemi Osinbajo, Ahmad Lawan, the senate president, Femi Gbajabiamila, speaker of the house of representatives, and principal officers. At the signing today, the president said;“It is my pleasant duty, today, on my 77th birthday, to sign the 2020 Appropriation Bill ... Read More »

FG Eyes $23tn Emerging Markets Funds to Combat Climate Change

FG Eyes $23tn Emerging Markets Funds to Combat Climate Change

The federal government is to deepen its climate financing activities by tapping into international climate funds next year.A top official of the Federal Ministry of Environment, who preferred to remain anonymous,  revealed details: about the government’s plan. “2020 would be a year when we would scale up activities in terms of climate finance. We will work with the Ministry of ... Read More »

Ekiti Assembly passes N124.7b budget for 2020

Ekiti Assembly passes N124.7b budget for 2020

Ekiti State House of Assembly yesterday passed the state’s N124.724billion Appropriation Bill for 2020. This followed the adoption of the report of the House Committee on Finance and Appropriation at plenary. Presenting the report, the Chairman, Olubunmi Adelugba, said the budget was made up of N71.186billion recurrent expenditure, representing 57 per cent and N53.538billion capital expenditure, representing 13 per cent. ... Read More »

Buhari to sign 2020 budget Tuesday

Buhari to sign 2020 budget Tuesday

Barring any last-minute change of plans, President Muhammadu Buhari will sign the 2020 budget on Tuesday. A top source at the State House, who asked not to be named, disclosed this  on Monday.The budget when signed into law is expected to run from January to December 2020. The signing of the 2020 budget comes just over two months after Mr ... Read More »

Bankers’ Committee tackles cyber risks as fraud statistics hit N18.94b

Bankers’ Committee tackles cyber risks as fraud statistics hit N18.94b

THERE are moves by the Bankers’ Committee, led by the Central Bank of Nigeria (CBN) to reduce the amount involved in fraud, which stood at N18.94 billion in six months. Speaking at the weekend at the 2019 Bankers’ Committee retreat in Ogere, Ogun State, CBN Governor Godwin Emefiele urged banks to invest in technology to tackle fraud and reduce revenue ... Read More »

Military to re-open Maiduguri-Damboa -Biu road After Zulum’s Plea

Military to re-open Maiduguri-Damboa -Biu road After Zulum’s Plea

BY INUSA NDAHI, MAIDUGURI The Nigerian Military is to re-open the 185km Maiduguri-Damboa -Biu road, which was closed down as a results of incessant attacks on motorists and passengers by armed insurgents. The road, which later turned nightmare, forcing motorists and drivers ply the tortuous two-day travels to three towns through Damaturu-Darazau-Gombe roads in Yobe, Bauchi and Gombe states, would ... Read More »

Senators Grumble over Extra Constituency Projects for Principal Officers

Senators Grumble over Extra Constituency Projects for Principal Officers

Senators are warming up for a fight with the leadership of the Senate over the distribution of some capital projects in the 2020 Budget, passed penultimate Thursday by the National Assembly. Sources told revealed at the weekend that the projects were outside the N100 billion constituency projects for lawmakers in the two chambers of the National Assembly that the executive ... Read More »

Presidency Reviews Approved 2020 Budget

Presidency Reviews Approved 2020 Budget

The presidency has set up a committee to scrutinise the 2020 Appropriation Bill passed by the National Assembly, charging it to look critically into the differentials between the figure submitted by President Muhammadu Buhari and the one approved by the legislature, and advise the president on assent. The budget was last Thursday transmitted to the president for assent. Although there ... Read More »

Rivers is rightful owner of  Soku Oil Field, not Bayelsa , Court Rules

Rivers is rightful owner of Soku Oil Field, not Bayelsa , Court Rules

The Abuja Division of the Federal High Court, on Monday held that the disputed Soku Oil Wells/Fields rightfully belongs to Rivers and not Bayelsa State. Justice Inyang Ekwo, who in a judgment declared Rivers State as the rightful owner of the oil well located in Akuku-Toru Local Government Area of Rivers State, accordingly ordered transfer of ownership from Bayelsa State ... Read More »

Alleged pension scam: Maina’s son, Faisal withdrew N58m from bank – Witness

Alleged pension scam: Maina’s son, Faisal withdrew N58m from bank – Witness

An EFCC operative, Mohammed Goji, on Monday, revealed how Faisal Maina, son of Abdulrasheed Maina, former Pension Reform Task Team boss, withdrew N58 million from a new generation bank account. The News Agency of Nigeria (NAN) reports that Goji, who is a Principal Detective Superintendent with the anti-graft agency, is also the second prosecution witness (PW2) in the ongoing trial ... Read More »

Senate Will Approve Buhari’s $29.96bn Loan Request-Lawan

Senate Will Approve Buhari’s $29.96bn Loan Request-Lawan

Senate President, Ahmad Lawan, has said the Senate will approve the $29.96 billion loan request from President Mohammadu Buhari as he has provided information needed for the loan to be approved . He spoke at a media session with newsmen to hughlight the achievements of the 9th Senate in the last six months The senate president said that unlike what ... Read More »

Bankers’ Committee classifies BVN for poor, rich customers

Bankers’ Committee classifies BVN for poor, rich customers

The Bankers’ Commit-tee has commenced Bank Verification Number (BVN) classification plan that will allow the rich and poor in rural areas have access to financial services. Central Bank of Nigeria (CBN) Governor, Godwin Emefiele who broke the news on Saturday at the end of the 11th Bankers’ Committee retreat in Ogere, Ogun State, said BVN will now be classified into ... Read More »

NNPC Records Trading Surplus of ₦5.20billion in August

NNPC Records Trading Surplus of ₦5.20billion in August

The Nigerian National Petroleum Corporation (NNPC) has announced an increased trading surplus of ₦5.20billion for August, 2019, reflecting an increase of 22 per cent when compared with the ₦4.26billion-surplus posted in July 2019, a release by NNPC Acting Group General Manager, Group Public Affairs Division, Mr. Samson Makoji, has said. The new figures are contained in the recently released August 2019 ... Read More »