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Buhari has taken Nigeria off the course of unity, prosperity – Atiku
Lagos, Dec. 4, 2022 – Alhaji Abubakar Atiku, the Presidential Candidate of Peoples Democratic Party (PDP), on Sunday said President Muhammadu Buhari’s administration had taken Nigeria far off the course of unity and prosperity. In a statement by his campaign organisation, Atiku said that for Nigeria to be great, it must be united and inclusive. He said that for a country to be united, it must possess a leadership ready to work through the purpose. Atiku described the upcoming general elections as a rescue mission to save the soul of …
OPEC+ sticks to output targets
London/Dubai, Dec 4, 2022 – OPEC+ agreed to stick to its oil output targets at a meeting on Sunday as the oil markets struggle to assess the impact of a slowing Chinese economy on demand and a G7 price cap on Russian oil on supply. OPEC+, which comprises the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, angered the United States and other Western nations in October when it agreed to cut output by 2 million barrels per day (bpd), about 2% of world demand, from November …
Equatorial Guinea’s Lima takes over as OPEC President
Lagos, Dec. 4, 2022 – Gabriel Mbaga Obiang Lima, the Minister of Mines and Hydrocarbons of Equatorial Guinea, will take over as the president of the Organization of Petroleum Exporting Countries (OPEC) in 2023. The African Energy Chamber (AEC) said this, adding that Obiang Lima would be taking over from the Republic of the Congo’s Minister of Hydrocarbons, Bruno Jean-Richard Itoua. The OPEC presidency holds a one-year tenure. The Executive Chairman of African Energy Chamber, NJ Ayuk, was credited as saying: “We at the African Energy Chamber are very pleased …
Saudi Aramco’s Luberef expects to raise up to $1.32 billion from IPO
DUBAI, Dec. 4, 2022 – Saudi oil giant, Aramco’s,base oil subsidiary,Luberef, expects to raise up to 4.95 billion riyals ($1.32 billion) from its initial public offering, it said, if it prices at the top of a range announced on Sunday. Luberef will sell nearly 30% of the company’s issued share capital, or 50.045 million shares, at between 91 and 99 riyals each, the company said in a statement. State-led IPO programmes in Saudi Arabia, Abu Dhabi and Dubai have helped equity capital markets in the oil-rich Gulf, in sharp contrast …
INEC fixes Dec. 12 to Jan. 22 for collection of PVCs
Lagos, Dec. 3, 2022 – The Independent National Electoral Commission(INEC) has scheduled between Monday, December 12 and Sunday, January 22 as the collection dates of PVCs in all the 774 local government area offices of the commission across the country. The commission gave this directive in a statement at the weekend. It said that it had also resolved to devolve the PVC collection to the 8,809 Registration Areas/Wards from Friday, January 6th to Sunday, January 15th, 2023. “Those that are unable to collect their PVCs at all the local government offices …
FG refunds N625.43bn to oil producing states
Abuja, Dec. 2, 2022 – Nine oil-producing states in the country received N625.43 billion made up of 13 percent oil derivation, subsidy and SURE-P refunds from the Federation Account in two years. Garba Shehu, the Senior Special Assistant to the President on Media and Publicity, said this today in a statement in Abuja. He listed the nine beneficiary states as Abia, Akwa-Ibom, Bayelsa, Cross River, Delta, Edo, Imo, Ondo and Rivers. The statement said that N1.1 trillion was still outstanding. Sheu promised that the Buhari administration would continue to render …
NANS declares nationwide protest over student’s tweet
Lagos, Dec. 2, 2022 – The National Association of Nigerian Students (NAN) has declared nationwide protest to demand the release of Aminu Mohammed, a student of a federal university in Dutse, Jigawa State, who was arrested and sent to prison over a tweet on Aisha Buhari, wife of the President Muhammadu Buhari. NANS President, Usman Barambu, said in a statement on Thursday that the protest, which would commence on Monday, would be indefinite until Mohammed regained freedom. NANS had earlier apologised to the wife of the president, while also calling for …
Budget Padding: “we are waiting for formal response from ministry of finance” – Farouq
Abuja, Dec. 2, 2022 – Hajia Sadiya Farouq, the Minister of Humanitarian Affairs, says her ministry is still waiting for a formal response from the Ministry of Finance on the N206 billion meant for security weapons found in her ministry’s budget. She said had written to seek clarification on the issue and was waiting for response from the ministry of finance, budget and national planning. Farouq, who appeared before the Senate Committee on Special Duties on Thursday, said she did not allege that the finance minister padded the budget, but she …
LASG calls for enforcement of safety standards in work places
Lagos, Dec. 1, 2022 – Mr Lanre Mojola, the Director General of Lagos State Safety Commission, today called for enforcement of safety standards at all work places in Lagos. He made the call at an Environmental and Safety Seminar organised in collaboration with the Manufacturers Association of Nigeria (MAN), Apapa Branch. The seminar had the theme: ‘Seamless Environmental Regulations in Lagos State’. Mojola decribed the forum as an interesting engagement where manufacturers and government regulatory agencies talked towards ensuring accident reduction at work places. He said that everyone must imbibe …
Manufacturers predict factory shutdowns as GDP growth slows
Lagos, Dec.1, 2022 – The Manufacturers Association of Nigeria (MAN) today said the negative growth of the sector’s Gross Domestic Product might discourage potential investors from investing in the sector. The Nigerian Bureau of Statistics (NBS) 2022 third quarter GDP report recently released said the sectors’ GDP declined further to 8.59 per cent from 8.96 per cent in the second quarter of 2022. MAN reacted to the NBS report by issuing its own position paper where it said the GDP statistics would send unfavorable signals to potential investors in the …