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NNPC Posts N13.23billion Trading Surplus in October

… Records 81 Per cent Drop in Pipeline Vandalism  (AFRICAN EXAMINER) – The Nigerian National Petroleum Corporation (NNPC) has announced a trading surplus of ₦13.23billion in October 2019, representing an increase of 54 percent vis-à-vis the ₦8.59billion surplus posted in September last year. The NNPC, in a release signed by its Acting Group General Manager, […]

NLNG Train 7 Receives Boost with Gas Supply Agreement

…To Generate $9bn for FG, 10,000 Direct Jobs (AFRICAN EXAMINER) – A critical step towards the realization of the Train 7 Project of the Nigeria Liquefied Natural Gas (NLNG) was taken Friday in Abuja with the signing of a Gas Supply Agreement between the company and major gas producers. Speaking on the significance of the […]

Buhari Orders CBN To Blacklist Firms Smuggling Banned Products

(AFRICAN EXAMINER) – President Muhammadu Buhari has directed the Central Bank of Nigeria (CBN) to blacklist firms caught involving in sharp practices such as smuggling and dumping banned goods into the country. Also asked to be sanctioned are the owners and top management of such firms dealing in 43 banned products from entering Nigeria. The CBN […]

Why Naira Remain Stable Despite Election Spending

(AFRICAN EXAMINER) – Aminu Gwadabe, President, Association of Bureau De Change Operators of Nigeria (ABCON), has identified factors that kept the naira immune from election spendings. Gwadabe told the News Agency of Nigeria (NAN) on Friday in Lagos that internal control mechanisms of the electoral umpire contributed greatly to checkmating political spendings as the naira […]

BREAKING: Nigeria Suspends Proposed National Carrier, Nigeria Air

By Victor Okunola (AFRICAN EXAMINER) – After two months of its debut, the Federal Government FG has temporarily suspended the National Carrier Project – which offshoot is the recently unveiled Nigeria Air. The Minister of State for Transport (Aviation) Senator Hadi Sirika announced the suspension Wednesday on his Twitter Handle – @hadisirika “I regret to announce that the Federal Executive […]

FIRS Set to Commence Audit Of Taxpayers Nationwide

(AFRICAN EXAMINER) –  Mr Tunde Fowler, Executive Chairman, Federal Inland Revenue Service (FIRS), on Thursday said that the Service would soon commence the audit of taxpayers across the country. Fowler stated this in Lagos while delivering a keynote address at a stakeholders meeting on “Tax Administration and National Revenue’’. The News Agency of Nigeria (NAN) […]

Nigerian Govt Says Its National Airline Will Take off Before December

(AFRICAN EXAMINER) – The Nigerian government has said the proposed national airline for the country would be unveiled before the end of the year. The Minister of State for Aviation, Sen. Hadi Sirika gave the assurance while receiving the Outline Business Case Certificate of Compliance for the establishment of the airline from Mr Chidi Izuwah, […]

New Alcohol, Tobacco Excise Duty in Nigeria Kick Off Monday

(AFRICAN EXAMINER) – The new excise duty for alcoholic beverages and tobacco earlier approved by President Muhammadu Buhari will take effect from Monday, June 4, 2018, says the Federal Government. The News Agency of Nigeria (NAN) recalls on Sunday that the Minister of Finance, Mrs Kemi Adeosun, in March announced that the president had granted […]

NNPC Retail Now Holds 14% Petroleum Products Retail Business

Photo caption: Group Managing Director of the Nigerian National Petroleum Corporation (NNPC) Dr. Maikanti Baru, (R) and Managing Director of NNPC Retail Limited, Mr. Yemi Adetunji  at the NNPC Towers in Abuja on Tuesday. … Says More Stations in Pipeline (AFRICAN EXAMINER) – The Nigerian National Petroleum Corporation (NNPC) said Downstream subsidiary, the NNPC Retail Limited, […]

Fuel Subsidy Payments: Senate Orders NNPC to Refund N216Bn

ABUJA, NIGERIA (AFRICAN EXAMINER) – The Senate has described as illegal and called for refund of the current payments being made by the Nigerian National Petroleum Corporation NNPC for subsidy of Premium Motor Spirit PMS, otherwise called petrol. Following this, the Senate Committee on Public Accounts recommended in its report on the investigation into the […]

Adeosun Reassigns Portfolios in SEC, Appoints New Acting DG

(AFRICAN EXAMINER) – The Honourable Minister of Finance, Mrs. Kemi Adeosun, on Friday approved the reassignment of portfolios in the Securities and Exchange Commission (SEC). Ms. Mary Uduk will assume the position of Acting Director-General of the Commission. Uduk’s appointment is governed by the provisions of the Investments and Securities Act (ISA), 2007 and the […]

Nigerian Government Extends VAIDS Compliance Deadline till June 30

ABUJA, NIGERIA (AFRICAN EXAMINER) – President Muhammadu Buhari has extended the compliance deadline to the Voluntary Assets and Income Declaration Scheme VAIDS till Wednesday, June 30 2018. The extension was announced in a statement issued Wednesday in Abuja by the Special Adviser on Media and Publicity to Mr. President, Femi Adesina. The statement indicated that […]

Niger Delta Needs More Oil Blocs to Boost Development, Say Gov Dickson

(AFRICAN EXAMINER) – The Governor of Bayelsa State, Honourable Henry Seriake Dickson on Saturday demanded that more oil blocs should be given to the oil-producing areas because they are “the ancestral properties of Niger Delta.” He also called on the multinational oil colonies to heed the directive by Vice President Yemi Osinbajo (SAN) to relocate […]

Nigeria Signs MOU With Switzerland For Refund Of $321m Abacha’a Loot

Photo: Nigeria’s Minister of Justice and Attorney General of the Federation (AGF) Mr. Abubakar Malami (AFRICAN EXAMINER) – Nigeria has signed a Memorandum of understanding (MOU) with Switzerland for the return of the sum of $321m looted funds to Nigeria. Minister of Justice and Attorney General of the Federation AGF, Mr. Abubakar Malami, signed the […]

Our Strategy Will Tackle Debt Service Risk -Adeosun

Photo: Nigeria’s Minister of Finance, Mrs. Kemi Adeosun (AFRICAN EXAMINER) – The Honourable Minister of Finance, Mrs. Kemi Adeosun, has expressed confidence that the Federal Government’s revenue and debt management strategy would mitigate the country’s debt service risk and fast-track her development. The Minister, who welcomed the advice of Nigeria’s international development partners, including the International […]

Federation Account Recorded N797bn VAT Revenue in 10 Months, Says Adeosun

Photo: Nigeria’s Minister of Finance, Mrs. Kemi Adeosun …To Extend Tax Compliance to Private Sector (AFRICAN EXAMINER) – Revenue from Value Added Tax (VAT) grossed N797.51 billion into the Federation Account between January and October 2017, the Honourable Minister of Finance, Mrs. Kemi Adeosun, revealed on Tuesday. The non-oil revenue represents 46.15 per cent of […]

Buhari Asked Us to Shift Focus to Northern Nigeria, Says World Bank President

Photo:President of the World Bank Group, Mr. Jim Yong Kim By Oludare Sunday Fase, Washington, DC (AFRICAN EXAMINER) – President of the World Bank Group, Mr. Jim Yong Kim told reporters that Nigeria’s President Muhammadu Buhari specifically requested that the group shift it focus to the northern region. Mr Kim disclosed this during a press […]

OPEC Extends Nigeria’s Exemption On Oil Production Cut

(AFRICAN EXAMINER) – The Joint Organization of Petroleum Exporting Countries OPEC and non-OPEC Ministerial Monitoring Committee, JMMC has extended the exemption granted Nigeria on the output cut which was imposed on member countries in January 2017. The meeting of the body which held Friday in Vienna, Austria, upheld Nigeria’s position that the exemption, which was […]

Ebonyi Tackles Federal Government Agencies Over Unremitted Funds

From   Ignatius   Okpara, Abakaliki The governor David Nweze Umahi, led administration  in Ebonyi state, South-east Nigeria, has threatened to drag some federal government owned establishments operating in the state to court over alleged tax evasion and failure to make remittances due to the state. The state Commissioner for Finance and Economic Development, Dennis Ekumankama, gave […]

Nigeria Loses More than 140 Billion Weekly to Apapa Gridlock -Dangote

President of Dangote Group, Aliko Dangote has lauded the decision of the Federal Government to reconstruct the failed Apapa Wharf road as its grim state serves as both an embarrassment to the country and a huge financial loss to the government on a weekly basis. Dangote who spoke on Tuesday said “The economy loses more […]

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