New Pump Price: IPMAN Says It Will Sell Petrol At N123.50k When Old Stock Is Exhausted

Following further reduction in the pump price of fuel in Nigeria by the Federal Government, the Independent Petroleum Marketers Association (IPMAN) has said its members would not comply with the new N123.50k per litre price of petrol until they have  exhausted their old stock, which was procured before the adjustment. The government had, through the Petroleum Products Pricing Regulatory Agency (PPPRA), announced a further reduction of the pump price of petrol from N125 to N123.50k per litre. The Executive Secretary of the agency, Abdulkadir Saidu, said in a statement that,…

Read More

COVID-19 Relief Fund: Individuals, Organisations Contribute N15.325billion, Account With CBN

By Andrew Onyejuruuwa As the Coronavirus (COVID-19) continues to ravage the whole world, Nigeria yesterday recorded 35 new cases of the pandemic. This sad development in the country therefore brings the total number of its confirmed cases in Nigeria to 174. The Nigeria Cantre for Disease Control (NCDC), in a breakdown of the new cases said Lagos State, which is the epicenter in Nigeria and Osun State recorded nine incidences each; the Federal Capital Territory (FCT), Abuja seven; Akwa Ibom State, five; Edo State, two; while Ekiti, Kaduna, and Bauchi…

Read More

Analyst Believe The Oil Price War Could Persist Until Year-End

An analyst said on Wednesday that the oil price war could last until the end of the year. Coronavirus (COVID-19) pandemic, which has changed the entire global social-political and economic architecture has taken a toll on everything. Countries like Nigeria that depends solely on crude oil will also be the worst hit. Nigeria with all its natural endowment have suffered under successive bad leadership up till date. As COVID-19 delivers untold hardship on both human lives and global economy, prices have plummeted more than 60 per cent since the beginning of…

Read More

CBN Says N100bn Health Sector Intervention Scheme Runs Till 2030

*Mr. Godwin Emefiele, CBN Governor The N100nillion credit support provided to the health sector by the Central of Nigeria of Nigeria (CBN) as part of measures to address the impact of the Coronavirus (COVID-19), pandemic on the Nigerian economy, according to the CBN will operate till 2030. The top lender disclosed this in the guidelines for the scheme where it stated as follows: “The exit date of this intervention is December 31, 2030.” The guidelines also revealed that borrowers under the scheme will enjoy five per cent interest rate till February…

Read More

Nigeria’s Electricity Supply Drops to 3,899MW, Gas Shortage Blamed

The drop in electricity supply in the country is on the decline because the volume of electricity allocated to the 11 Distribution Companies (the DISCOS) from the national grid last week dropped to 3,899 MegaWatts (MW) from the previous week of 4,139MW. Recall that the Transmission Company of Nigeria (TCN) had claimed that gas shortage to power generating plants would only last for 10 days from March 8. It does appear that the challenge is unending. The power production and distribution statistics obtained from the Advisory Power Team in the…

Read More

CBN Coordinates Private Sector, Mobilises N120bn To Combat COVID-19

*Nigeria’s Central Bank Governor, Godwin Emefiele, addressing journalists To effectively fight the spread of the pandemic Coronavirus (COVID-19) in the country and avoid the catastrophe it has caused in Europe and Asian countries, Nigeria’s private sector top players are collaborating efforts under the Nigeria Private Sector Coalition Against COVID-19. Their aim is to mobilise resources to support the efforts by the federal government of Nigeria to fight the pandemic that has spread to eight states and counting. Mr. Godwin Emefiele, Nigeria’s Central Bank Governor, at a media briefing in Lagos…

Read More

NCDC: Nigeria Now Has 44 COVID-19 Cases

Sadly, Nigeria has recorded two new cases of the dreaded Coronavirus (COVID-19). The two new cases bring the total number of confirmed cases in the country to 44. The Nigeria Centre for Disease Control (NCDC) who provided the update on Tuesday said one was from the Federal Capital Territory (FCT), Abuja while the other came from Bauchi State. NCDC in a statement said, “The cases have travel history to Germany and the United Kingdom. As at 06:25 pm on March 24, there are 44 confirmed cases of COVID19 in Nigeria.…

Read More

Statehouse Abuja In Sober Mood As Prof. Osinbajo Goes Into Isolation

*Prof. Osinbajo, Nigeria’s Vice President Following the test result of Abba Kyari, the Chief of Staff to President Muhammadu Buhari, reports from the State House has it that Vice President, Prof. Yemi Osinbajo is currently in self-isolation. The National Centre for Disease Control (NCDC), who carried out Kyari test pronounced him positive with the dreaded Coronavirus (COVIC-19). The media also gathered that some presidential villa officials, especially those who had contact with the Chief of Staff have also gone on isolation. Information also has it that the vice president, as…

Read More

COVID-19: House of Reps Pass Bill To Provide Palliative Measures

*Nigeria’s House of Representatives in session As a mitigation to the ravaging effect of the dreaded Coronavirus (COVID-19), Nigeria’s lower arm of the legislature – the House of Representatives today (Tuesday March 24) passed with panasonic speed, a bill to provide emergency relief measures for Nigerians by way of tax waiver for companies to enable them to keep their workers within the period of the pandemic. The bill which, passed through first, second and third reading within one hour on the floor of the house seeks to provide relief on corporate tax…

Read More

AMCON Gunning For The Assets, Bank Accounts Of Politician Great Ogboru

*AMCON boss, Ahmed Kuru As part of the renewed efforts as mandated by the amended act of the  Asset Management Corporation of Nigeria (AMCON), the Corporation, we gathered has approached the Federal High Court, Lagos Division for an order to attach the bank accounts of the 2019 governorship candidate of the All Progressives Congress (APC) in Delta State, Chief Great Ogboru, and his firm, Fiogret Limited, in a bid to recover a judgment debt of N784m. In an exparte application filed before Justice Maureen Onyetenu, AMCON said the N784m debt…

Read More