Author: Chris PEMU

Posted on May 17, 2016 by Chris PEMU

FG Will Name Successful Bidders For 4 Modular Refineries

Federal Government has revealed that it will make public the names of the four companies that successfully bided to operate Modular Refineries to enable them take off operation. Minister of Information and Culture, Lai Mohammed, gave this revelation Monday in Abuja as part of ongoing sensitization campaign on the deregulation of the downstream sector of Read More

Posted on May 6, 2016 by Chris PEMU

Buhari’s Speech At The Signing Of The 2016 Budget

It gives me great pleasure today to sign the first full-year budget of this administration into law. I thank the leadership of the National Assembly, in particular, the Senate President and the Speaker of the House of Representatives, and indeed all members of the National Assembly for their cooperation in making this a reality. The Read More

Posted on May 6, 2016 by Chris PEMU

President Buhari Finally Signs 2016 Budget

The issue concerning the controversial 2016 budget has finally been laid to rest. President Muhammadu Buhari has signed the 2016 appropriation Bill. The occasion took place at the Presidential Villa in Abuja on Friday. Buhari had returned the document to the National Assembly mainly because there were “grey areas” in it that needed clarifications After Read More

Posted on May 5, 2016 by Chris PEMU

EFCC Will Fail To Demonise And Humiliate Me – Fani-Kayode

Former Minister of Culture and Tourism, Femi Fani-Kayode, has come out to say that he is not hiding from men of the Economic and Financial Crimes Commission, EFCC. Fani-Kayode who served as the the Director of Media and Publicity of the PDP Presidential Campaign Organisation, said he never received any invitation from the commission either Read More

Posted on May 5, 2016 by Chris PEMU

NCAA Orders Airlines To Compensate Passengers Over Flight Delays

The Nigerian Civil Aviation Authority (NCAA) has announced compelling every airline both domestic and international, to pay in form of compensation to passengers for any flight delay During the course of the delay, the airlines are to provide the passengers with refreshment as stipulated by the Civil Aviation Regulations (CAR). According to records made available Read More

Posted on May 5, 2016 by Chris PEMU

2016 Budget: FG Will Focus On 34 Priority Projects

The Federal Government will focus its priority on 34 critical projects in the 2016 budget. Minister of State for Budget and National Planning, Zainab Ahmed briefed State House correspondents at the end of the Federal Executive Council (FEC) meeting held in Abuja. Ahmed explained that the 34 projects were arrived at with clear deliverable targets Read More

Posted on May 5, 2016 by Chris PEMU

EFCC Storms Sterling Bank Headquarters, Grills MD

Officials of the Economic and Financial Crimes Commission on Wednesday visited the headquarters of Sterling Bank Plc in Lagos for reasons yet unknown. Sources say the Managing Director of the bank, Yemi Adeola, was questioned for over hours, but the details were not disclosed. When contacted on the development, officials of the bank refused to Read More

Posted on May 4, 2016 by Chris PEMU

How Non-Passage Of The PIB Cost Nigeria N1.7 Trillion

Chairman of Petroleum Technology Association of Nigeria (PETAN), Bank Anthony Okoroafor has disclosed that Nigeria has lost estimated $10 billion (N1.7 trillion) fresh investments to the non-passage of the Petroleum Industry Bill (PIB). Okoroafor revealed this at the Offshore Technology Conference (OTC) holding in Houston, Texas in the United States (U.S.). The PETAN boss said Read More

Posted on May 3, 2016 by Chris PEMU

V.P Osinbajo Says 7,000 Megawatts Of Electricity On The Way

Vice President, Prof Yemi Osinbajo, on Monday assured Nigerians that 7,000 Megawatts of power would be generated within the next 18 months in order to address the challenge of epileptic power supply nationwide. Prof Osinbajo noted that implementation of the 2016 budget would commence in the next few days and priority would be accorded to Read More

Posted on May 3, 2016 by Chris PEMU

Prepare For More Darkness If You Live In Lekki And Ikoyi – Eko Disco

Eko Electricity Distribution Company (EKEDC) on Monday announced that, there will be power rationing in Lekki, Ikoyi, Victoria Island and some parts of Ajah. This will commence from May 3. In a statement by the General Manager, Corporate Communications Unit of EKEDC, Godwin Idemudia, this is to enable the Transmission Company of Nigeria (TCN) to Read More

Posted on May 2, 2016 by Chris PEMU

Nigeria Can Generate N5 Trillion Annually From Mining – Minister

Minister of Solid Minerals Development, Dr. Kayode Fayemi over the weekend, affirmed that mining business has the potential to buoy the nation’s economy by N5 trillion a year, with concomitant bright prospects of creating thousands of job opportunities. Fayemi, made this statement in Ile-Ife, also explained that states may exploit mineral resources from their respective Read More

Posted on May 2, 2016 by Chris PEMU

Transcorp Sets To Take Over NNPC’s Abandoned Gas Plants

Transnational Corporation of Nigeria Plc, (Transcorp) has announced its intention to buy all the Nigeria National Petroleum Corporation’s (NNPC) abandoned gas plants all over the country and revamp them. Chairman of of the company, Tony Elumelu, made this known at the weekend during Transcorp’s 10th Annual General Meeting in Calabar. Elumelu explained that Transcorp conglomerate Read More

Posted on May 2, 2016 by Chris PEMU

Gov. Oshiomhole Increase Edo Minimum Wage To N25,000

Edo State Governor Adams Oshiomhole on Sunday announced a new minimum wage of N25,000 with effect from May 1, 2016 for workers. Oshiomhole disclosed this while addressing a rally organised by the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC), to mark this year’s Workers’ Day at the Samuel Ogbemudia Stadium in Benin. “With Read More

Posted on May 2, 2016 by Chris PEMU

Bailout Fund: CBN Approves N20 Billion Lifeline For Kogi State

Governor Yahaya Bello of Kogi State on Sunday, announced that the Central Bank of Nigeria, (CBN), has approved N20 billion as bailout for the state government. Bello said this, while addressing a rally organized by labour unions to mark the 2016 May Day celebrations. The governor said the N20 billion was the first tranche of Read More

Posted on April 30, 2016 by Chris PEMU

Annual Cost Of Importing Fruit Juice Into Nigeria Is N165 Billion – MAN President

President of the Manufacturers’ Association of Nigeria (MAN), Frank Jacobs, yesterday disclosed that Nigeria spends N165 billion annually to import fruit juice. He made this disclosure at a workshop organised by the Raw Materials Research and Development Council (RMRDC) in Owerri. While delivering a paper entitled “Promoting Investments in Concentrate Production’’, Jacobs said the situation Read More

Posted on April 29, 2016 by Chris PEMU

Budget Grey Areas: Presidency, N/Assembly Panel Concludes Work Today

The committee constituted by the Presidency and the National Assembly to look at the “grey areas” raised by President Muhammadu Buhari will round up its work today, Daily Trust gathered last night. The committee was set up this week after the meeting of President Buhari and the leadership of the National Assembly, with the Minister Read More

Posted on April 29, 2016 by Chris PEMU

Lagos Engages 1,200 Tax Audit Professionals

The Lagos State Internal Revenue Service ((LIRS) has engaged 1200 members of the Chartered Institute of Taxation of Nigeria (CITN) and the Institute of Chartered Accountants of Nigeria (ICAN) as Tax Audit Monitoring Agents (TAMAs). The purpose of this is to ensure full maximization of its revenue generating potentials, and to quickly commence tax Audit Read More

Posted on April 28, 2016 by Chris PEMU

EFCC Picks Up Fidelity Bank MD For Receiving Diezani’s $115m

Managing Director and Chief Executive Officer of Fidelity Bank Plc, Nnamdi Okonkwo, and some officials of the bank have been picked up by operatives of the Economic and Financial Crimes Commission, (EFCC). They are alleged to have received the sum of $115 million from one of the most powerful minister under the Goodluck Jonathan’s administration, Read More

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