Amosun Offsets N12.5bn Workers’ Gratuities



Ogun State governor, Ibikunle Amosun, has released the sum of N12.5 billion for the payment of a backlog of gratuities of 2,429 retirees, workers’ deductions and severance allowances for political appointees who served the state between 2007 and 2015.

Nigeria: Tekno Disqualified From Headies Awards


Ahead of the highly anticipated Headies awards, Nigerian music sensation, Tekno, has been disqualified from the highly coveted "Next Rated" category.  The award, billed to take place on December 22, was embraced with criticisms from top notch musicians in the industry.  Tekno had lambasted the organisers for including him in the "Next Rated" category.

Good news for Nigeria as oil price rises to $55.61


The price of Brent crude rose to $55.61 per barrel on Wednesday, up 26 cents from the previous day in what will be good news to oil dependent Nigeria.

FG stops funding of refineries


Kaduna Refinary
The Federal Government says it will not concession or privatize Nigeria’s refineries but encourage private sector investment and subsequent joint ownership of the outfits for greater efficiency.

Nigeria: Justice Ademola, Wife Arraigned, Get N100 Million Bail On Self-Recognition



Abuja — A Federal High Court judge, Justice Adeniyi Ademola, and his wife, who are both currently facing corruption and illegal possession of fire arms charges were yesterday granted bail by a High Court of the Federal Capital Territory (FCT).

Real reason MMM Nigeria was frozen

Facts have emerged why popular Ponzi scheme in Nigeria, MMM froze confirmed monies in the system for one month.



But the scheme’s number one guider, simply identified as Chuddy, has come out to clear the air on the development. 

It's not a scam and 4 other things Mavrodi wrote to Buhari before freezing MMM

The founder of Mavrodi Mondial Movement (MMM) Sergey Mavrodi reportedly wrote a letter to Nigeria’s federal government.

The letter comes after several attacks on the Ponzi scheme by well-meaning Nigerians.
In the letter which was displayed on the page of all participants of the scheme, Mavrodi explained how the scheme works, listing its benefits.

FG advises Nigerians to brace for telecom data price increase

FG advises Nigerians to brace for telecom data price increase

Adebayo Shittu, communications Minister has asked Nigerians to brace for a price rise while making a case for telecom service providers, which according to the minister were operating under unfriendly business environment including lack of electricity and increasing security challenges.

I am not the APC South-west leader - Amosun

I am not the APC South-west leader - Amosun

Ogun state governor, Senator Ibikunle Amosun has rejected the title of All Progressives Congress (APC) South-west leader given to him by some political analysts.

Obasanjo Advice Nigerian Youths To Do Right Thing At Right Time

Obasanjo Advice Nigerian Youths To Do Right Thing At Right Time


A former President of Nigeria, Chief Olusegun Obasanjo, has asked Nigerian youths to do the right thing at the right time, if they wanted to be good leaders in future.

Dasuki’s trial adjourned till January 25 as defendant falls ill

Dasuki’s trial adjourned till January 25 as defendant falls ill

The Federal Government on Wednesday brought retired Colonel Sambo Dasuki, a former National Security Adviser before an FCT High Court for trial over the alleged $2.1bn arms fund misappropriation.

Buhari shifts 2017 budget presentation again

Buhari shifts 2017 budget presentation again

 
President Muhammadu Buhari has scheduled Wednesday next week for presentation of the 2017 budget to the joint session of National Assembly.

Wole Soyinka Decries Absence of Common Sense in Nigeria

Wole Soyinka Decries Absence of Common Sense in Nigeria

For the first time since he discarded his United States green card following Donald Trump’s victory in the U.S. election, Nobel Laureate, Prof. Wole Soyinka, has lashed out at the absence of common sense in Nigeria.

Crude Oil Tops $55 for First Time in 16 Months

Crude Oil Tops $55 for First Time in 16 Months


Brent crude rose to over $55 per barrel Monday, hitting a 16-month high on rising prospects of a tightening market after the Organization of Petroleum Exporting Countries (OPEC) agreed on a landmark deal to cut production last week.
This is coming as OPEC is set to meet non-OPEC countries to finalize the global oil output-limiting 

Barkindo said OPEC had invited non-OPEC countries – Russia, Colombia, Congo, Egypt, Kazakhstan, Mexico, Oman, Trinidad and Tobago, Turkmenistan, Uzbekistan, Bolivia, Azerbaijan, Bahrain and Brunei – on December 10 to discuss their contribution.
Barkindo announced plans for the meeting at India’s Petrotech Energy Conference in New Delhi.
The OPEC and non-OPEC meeting had earlier been due to take place in Moscow.
Barkindo yesterday told reporters on the sidelines of the Indian conference that OPEC expects oil demand in 2017 to be as robust as this year.
He said Asia would have a big role to play in the demand growth and that there was plenty of room for OPEC and non-OPEC countries to grow in the global oil market.
“We want the inventory level to be at a past five-year average, not more and not less than that,” he said.
At the 171st meeting of the conference of OPEC held in Vienna, Austria, on November 30, the cartel said it was vital that stock levels were drawn down to normal levels.
In line with the ‘Algiers Accord’, the conference decided to implement a new OPEC-14 production target of 32.5 million barrels per day, in order to accelerate the ongoing drawdown of the stock overhang and bring the oil market rebalancing forward.
According to the communiqué, the agreement will be effective from January 1, 2017.
Member countries, in agreeing to this decision, confirmed their commitment to a stable and balanced oil market, with prices at levels that are suitable for both producers and consumers.
In line with recommendations from the high-level committee of the ‘Algiers Accord’, the cartel also agreed to institutionalise a framework for cooperation between OPEC and non-OPEC producing countries on a regular and sustainable basis.
OPEC underscored the importance of other producing countries joining the agreement.
Non-OPEC producers are expected to agree to add an output cut of 600,000 barrels per day (bpd) at the meeting in Vienna.

SOURCE: THISDAYLIVE

 

(AfDB) has approved the sum of $600 loan.

African Development Bank (AfDB) has approved the sum of $600 million loan

In another boost to the Nigerian economy, the board of the African Development Bank (AfDB) has approved the sum of $600 million to support the Nigerian economy.

Oyegun Meets Saraki, APC Senators for Reconciliation

Oyegun Meets Saraki, APC Senators for Reconciliation

For the first time since the inauguration of the National Assembly on June 9, 2015, the leadership of the All Progressives Congress (APC) will today meet with the Senate leadership at the secretariat of the party in Abuja to lay the foundation for a renewed relationship.
The move was part of the fresh arrangements to strengthen the renewed relationship between the executive and the legislature as well as the relationship between the party leadership and the leadership of the National Assembly.

VP Osinbajo names those who can bail Nigerian out of recession

VP Osinbajo names those who can bail Nigerian out of recession

Osinbajo names those who can bail Nigerian out of recession – Vice-President Yemi Osinbajo says partnership with the private sector will help the government deliver its economic agenda – Okechukwu Enelamah, minister for investment says the government is making efforts to partner with the private sector.

See More at : http://theinfong.com/2016/12/vp-osinbajo-names-can-bail-nigerian-recession-read/
Osinbajo names those who can bail Nigerian out of recession – Vice-President Yemi Osinbajo says partnership with the private sector will help the government deliver its economic agenda – Okechukwu Enelamah, minister for investment says the government is making efforts to partner with the private sector.
Vice-President Yemi Osinbajo has said the private sector has a big role to play in the nation’s economy.

Trouble in APC: Akeredolu slights Tinubu

Trouble in APC: Akeredolu slights Tinubu

Rotimi Akeredolu, has said he has no score to settle with Bola Tinubu, but believes that it was not out of place to not have acknowledged in specially in his acceptance speech on Sunday, November 27.According to him, Tinubu, like other leaders of the party, fall under the leadership of Buhari and Odigie-Oyegun.Akeredolu made this explanation when he and his deputy, Agboola Ajayi, on Wednesday paid a visit to President Muhammadu Buhari, at the Presidential Villa, Abuja.

I May Not Complete My Tenure As President – Buhari

WHY I MAY NOT COMPLETE MY TENURE AS PRESIDENT - BUHARI

I May Not Complete My Tenure As President – Buhari shock Nigerians as he reveal this in a meeting.

Kaduna Assembly approves N214.9 billion 2017 Budget

Kaduna Assembly approves N214.9 billion 2017 Budget


The Kaduna State House of Assembly on Thursday passed into law, the state’s budget of N214.9 billion for 2017.

The News Agency of Nigeria reports that the figure is N1 billion less than the budget proposal forwarded by Governor Nasiru El-Rufa’i to the assembly on October 12, for approval.

The Speaker of the assembly, Aminu Shagali, who read the content of the budget clause by clause, said N83.46 billion was approved for recurrent and N131.45 for capital expenditure.
He said the budget would cover from now till December 31, 2017.
The Chairman, House Committee on Appropriation, Ahmed Mohammed, later told journalists that the N1 billion cut from the original proposal was from the expected revenue of two agencies.
He said that revenue projection of the state Geographic Information System and Internal Revenue Service was reduced by N500 million for each of the agencies, “in view of current economic realities.”
He assured that the assembly would monitor the implementation to ensure that it serve the people better.

 

160 workers lose job at Ericsson Nigeria

160 workers lose job at Ericsson Nigeria

An investigation by The Punch reveals that 55 full-time employees were affected by the recent development which is expected to take effect from Sunday, November 4.

FG wants to tax us to death – Fayose

FG wants to tax us to death – Fayose


Ekiti State Governor, Ayodele Fayose, has urged Nigerians to resist any attempt to impose new tax on them by the Federal Government.

President Buhari to present N7.2trn budget for 2017

President Buhari to present N7.2trn budget for 2017


President Muhammadu Buhari has reportedly proposed a N7.2trillion budget for 2017, Daily Trust reports.

The president was said to have presented the proposed 2017 Appropriation Bill at the Federal Executive Council (FEC) meeting on Wednesday, November 30 during which it was approved.