Oil Prices Fall As US Gasoline Stocks Surges

BusinessNewsOil & GasOil Prices Fall As US Gasoline Stocks Surges

Beloved John (Staff Writer)April 8, 2021

The prices of crude oil dropped after official figures showed a significant rise in the gasoline inventories of the United States. The price of Brent crude, the grade at which Nigeria’s crude oil is benchmarked, decreased by 0.41 percent and stood at $62.89 a barrel as of Thursday afternoon. The US West Texas Intermediate (WTI) crude also declined by 0.65 percent, to $59.38 a barrel. The U.S. Energy Information Administration (EIA)  had earlier mentioned that...

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IMF Projects Higher Economic Growth for Nigeria in 2021

EconomyInvestingNewsNigeriaIMF Projects Higher Economic Growth for Nigeria in 2021

Beloved John (Staff Writer)April 6, 2021

The International Monetary Fund (IMF) says Nigeria might experience a 2.5 percent economic growth in 2021. The new growth projection is 1.0 percent higher than IMF’s 2021 forecast in January which was estimated at 1.5 percent. The Washington-based institution disclosed this on Tuesday during the 2021 Virtual Spring Meetings. IMF also predicted a growth of 3.4 percent for the Sub-Saharan Africa region in 2021, up 0.2 percent, from the previous forecast. It also lifted its...

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1.5bn For Port Harcourt Refinery Rehabilitation Too Outrageous – Reps Caucus

BusinessNewsOil & Gas1.5bn For Port Harcourt Refinery Rehabilitation Too Outrageous – Reps Caucus

Bada Yusuf Amoo (Correspondent)April 1, 2021

The House of Representatives minority caucus has condemned the $1.5bn approval for the rehabilitation of the Port Harcourt refinery, describing the figure as ‘outrageous and heavily inflated’. The lawmakers, there, called for an immediate review of the cost. In a statement issued by the minority leader of the Green Chamber, Ndudi Elumelu, on Tuesday, disclosed that the caucus reached the conclusion after a thorough evaluation of the proposal. The statement was titled, ‘Reps Minority Caucus...

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How I Featured Adeboye In My New Song – Tim Godfrey

BusinessEntertainmentMusicHow I Featured Adeboye In My New Song – Tim Godfrey

Bada Yusuf Amoo (Correspondent)March 30, 2021

Popular gospel artiste, Tim Godfre, has revealed how he featured the General Overseer of the Redeemed Christian Church of God (RCCG), Pastor Enoch Adeboye, in his new song. The Gospel singer revealed this during a listening event for his new music project. He said, “When Daddy GO travels, it is countries that host him. How did God show us so much favour? If God asks you to take a step, please jump; so long as...

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Nigeria Debt Stock Stood At N32.92 Trillion-NBS

EconomyNewsNigeriaNigeria Debt Stock Stood At N32.92 Trillion-NBS

Hassan Umar Shallpella (Regional Correspondent)March 29, 2021

The National Bureau of Statistics (NBS) on Monday said on its website that States and Federal debt stock stood at N32.92 trillion as of December 2020. The data captioned “Nigerian Domestic and Foreign Debt (Q4 2020)” said while N12.71 trillion was external, representing 38.60 per cent of the total debt stock, N20.21 trillion, representing 61.40 per cent was domestic. According to NBS “States and Federal Debt Stock data as of 31st December 2020 reflected that the country’s total...

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Another Market Fire Outbreak Recorded In Nigeria

Accidents and SafetyMarketsNewsNigeriaAnother Market Fire Outbreak Recorded In Nigeria

Hassan Umar Shallpella (Regional Correspondent)March 29, 2021

Fire outbreaks have been ravaging markets across Nigeria, the latest was the popular Namu Central yam market in Quan pan Local government Area, of Plateau state on Sunday night. Recall that Gashua Hay market in Yobe state, Katsina Central market, Tudun Wada Market in Zamfara State have experienced fire outbreaks in the last few days. A resident of Namu community, Alhaji Kabiru Buba told Reporters that food items and other valuables worth millions of naira...

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Amnesty Beneficiaries Beg FG To Train 8,000 Outstanding Delegates

JobsNational SecurityNewsNigeriaAmnesty Beneficiaries Beg FG To Train 8,000 Outstanding Delegates

Bada Yusuf Amoo (Correspondent)March 27, 2021

The third phase beneficiaries of the Presidential Amnesty Programme for Niger Delta ex-militants have appealed to the Federal Government to ensure the training of the remaining 8,000 delegates before rounding up the programme. The leader of the ex-agitators, Mr. Tonye Bobo, made the appeal at an advocacy visit to the Federated Correspondents Chapel on Friday in Yenagoa. He lauded the Interim Administrator of the Amnesty Office, retired Col Milland Dikio for his new approach to...

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Federal High Court Kano Jailed Two Binomo Investment Employees for Cryptocurrency Fraud

Crime & SecurityInvestingNewsFederal High Court Kano Jailed Two Binomo Investment Employees for Cryptocurrency Fraud

Hassan Umar Shallpella (Regional Correspondent)March 27, 2021

The Federal High Court sitting in Kano on Thursday convicted one Okungbowa Collins and Florence Omorodion accused of obtaining money by false pretense. The Economic and Financial Crimes Commission EFCC has charged the convicts before the federal High Court, Kano on separate counts of obtaining money by false pretense. Okungbowa Collins is to restitute the sum of N420,000 to his victims, while Omorodion was ordered to restitute her victim the sum of N218,000. They allegedly used their...

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Bayelsa Govt. Suspends MoUs Between Oil Companies, Host Communities

BusinessNewsNigeriaOil & GasBayelsa Govt. Suspends MoUs Between Oil Companies, Host Communities

PilotnewsMarch 26, 2021

YENEGOA — The Bayelsa Government has announced the suspension of all agreements between international oil firms and their host communities across the state. Gov. Douye Diri’s announcement is contained in a statement by his Chief Press Secretary, Mr. Daniel Alabrah on Thursday in Yenagoa. The suspension is on the heels of an allegation by the Bayelsa government that Shell Petroleum Development Company (SPDC) was fueling crises and insecurity of its host communities in the Niger...

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No Increase in Petrol Price Till End of Labour Negotiations – NNPC

BusinessNewsNigeriaOil & GasNo Increase in Petrol Price Till End of Labour Negotiations – NNPC

Beloved John (Staff Writer)March 26, 2021

The current ex-depot price of premium motor spirit (PMS), will be maintained until the end of negotiations with organised labour according to the Nigeria National Petroleum Cooperation (NNPC). Kennie Obateru, group general manager, group public affairs division of NNPC, disclosed this in a statement on Friday. He indicated that NNPC will continue to bear the burden of petrol subsidy as the current price will be maintained at N162 until ongoing engagement with the organized labour...

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