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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OPINION: Nigerian Lawmakers Consider a Petroleum Investment Bill

EconomyOil & GasOpinionOPINION: Nigerian Lawmakers Consider a Petroleum Investment Bill

PilotnewsMarch 24, 2021

By John Campbell Nigerian lawmakers are seeking passage of a Petroleum Industry Bill (PIB) that would reorganize the oil industry. Since the establishment of civilian government in 1999 after a generation of military rule, repeated attempts at passing a PIB have been made. But the government, the political class, and the industry’s leaders (foreign and domestic) have never reached a consensus that would make the reordering possible of such a crucial industry. The technical issues are exceedingly complex. Uncertainty around...

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DPR Sealed 10 Filling Stations In Taraba State

BusinessOil & GasDPR Sealed 10 Filling Stations In Taraba State

Hassan Umar Shallpella (Regional Correspondent)March 24, 2021

The Controller, Taraba Field Operation’s Office of the Department of Petroleum Resources (DPR) Mr. Jeremiah Mashat has sealed ten filling stations in Jalingo, Taraba state. He said that the action was to ensure compliance and enforcement for selling the product at the government-approved price, insisted that Marketers must adhere to all regulations governing the downstream sector of the petroleum industry. “We are out to ensure that the public is not shortchanged in the consumption of...

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How Insecurity is Inciting High Inflation

Crime & SecurityEconomyHow Insecurity is Inciting High Inflation

Beloved John (Staff Writer)March 24, 2021

The spiraling inflation in Nigeria has been attributed to the awful security situations in some parts of the country, particularly in the north. Worsening insecurity in major food-producing states in the country primarily contributed to the country’s high inflation rate. Inflation has been on the rise for 18 consecutive months. The governor of the Central Bank of Nigeria, Godwin Emefiele made this pointed on Tuesday while presenting the communique from the Monetary Policy Committee (MPC)...

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Senate Approves Establishment of National Agricultural Development Fund

AgricultureEconomyNigeriaSenate Approves Establishment of National Agricultural Development Fund

PilotnewsMarch 24, 2021

ABUJA — The Senate has approved the establishment of the National Agricultural Development Fund for the purpose of providing finance to support strategic aspects of agricultural development of Nigeria. This followed the clause by clause consideration of the report presented by the Senate Committee on Agriculture and Rural Development by the lawmakers during the plenary on Wednesday. According to the News Agency of Nigeria, the chairman of the committee Sen. Abdullahi Adamu had earlier presented...

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