Governor Ayodele Fayose of Ekiti state has accused President Muhammadu Buhari of planning to mortgage the future of Nigeria.
According to him, Nigeria has a little about $2bn in the excess crude account and about $22bn in the foreign exchange reserve. Hence, Buhari’s plan to borrow $30bn will definitely put Nigeria’s future in a huge debt.
“Propaganda Isn’t the truth, APC is running this country through propaganda. $29bn is the amount Buhari met in the foreign reserve, Excess crude account was over […]
According to reports, the Federal Government’s draft National Oil Policy has proposed to consolidate Nigeria’s oil industry regulatory authorities into a single agency to be known as Petroleum Regulatory Commission, PRC.
It will also scraps all other regulators, including the Nigerian National Petroleum Corporation, NNPC, Department of Petroleum Resources, DPR, and Petroleum Products Pricing Regulatory Agency, PPPRA, among others.
According to the document released by the Ministry of Petroleum Resources, last weekend, the new regulator will incorporate the activities of the existing […]
Nigeria plans to sell N95bn ($301.8m) of bonds on November 16, the Debt Management Office said on Friday.
The office said it would sell N35bn of a bond maturing in 2036, and N25bn of paper maturing in 2026.
Thirty five billion dollars of debt is maturing in 2021 using the Dutch Auction System.
Results of the auction are expected to be released on the following day. All the bonds on offer are reopening of previous issues.
Africa’s biggest economy issues sovereign bonds monthly to […]
According to reports, the President of Manufacturers Association of Nigeria, Dr. Frank Jacobs, has said that idle assets that no longer yield dividends to government can be sold to boost the current economic situation.
Jacobs said this in an interview with the News Agency of Nigeria on Wednesday in Abuja.
He said that funds realised from the sale of such assets could be used to develop structures that would enhance the economy.
“What I will recommend is the sale of idle assets that […]
It was gathered that the Nigerian National Petroleum Corporation has said it can no longer sustain the sale of petrol at N145 per litre.
The Group General Manager, Crude Oil Marketing of the NNPC, Mele Kyari, stated this on Monday at this year’s Oil Trading and Logistics Expo holding in Lagos.
Kyari said with the current price of foreign exchange, it was no longer feasible selling petrol at N145 per litre.
He said: “We have a very difficult business environment.
“It is impossible today […]
A Senior Advocate of Nigeria, Chief Mike Ozekhome, has advised President Muhammadu Buhari to dispose of six out of the remaining nine aircraft in the presidential fleet.
The lawyer said handing over two out of 11 aircraft in the fleet was not enough, saying nine airplanes were still too many to be maintained with the dwindling resources accruing to Nigeria.
He said this in an interview in Ido Osun, Egbedore Local Government Area of Osun State, after he was conferred with the […]
Shocking! Saleswoman is Forced to Sell Diamonds at a Popular Jewellery Store Using Her Open Breasts (Photo+Video)
A woman eager to sell diamonds has caused commotion after being forced to strip off from the top so as to attract customers.
A Chinese woman has been forced to strip down to sell diamonds at a jewellery store. The footage has caused controversy online.
According to reports, the incident shows a woman wearing diamond nipple pasties to help sell some jewels. The woman was used to parade the store’s goods and sell to people with her bare breasts.
The company in question […]
It was gathered that the recent recommendations that Nigeria sell its asset to raise funds is dangerous and troubling, a former governor of the Central Bank of Nigeria, Chukwuma Soludo, said on Monday.
Some of those who have made such recommendations include the National Economic Council, NEC, the Senate President Bukola Saraki and Africa’s richest man, Aliko Dangote.
Mr. Soludo, who dismissed the proposal as largely self-serving, said the scheme would only be a win-win for government and its private sector collaborators, […]
According to reports, the Minister of Budget and National Planning, Senator Udoma Udo-Udoma, has assured that the Federal Government has no plans to sell off all national assets to fund the fiscal stimulus strategy.
Udoma gave the clarification in a statement by his Media Adviser, James Akpandem, yesterday, in Abuja.
He said that the primary objective of the government’s fiscal stimulus plan was not to sell off all major critical national assets but to source for immediate funds to get the economy […]
Former Minister of Petroleum and Energy, Prof Tam David-West, yesterday, flayed those clamouring for the sale of some national assets in order to get more money to inject into the economy with a view to getting out of the current recession.
He described them as unpatriotic and enemies of Nigeria.
In an interview with Newsmen in Ibadan, David-West said the clamour showed lack of understanding of the current economic quagmire. The former petroleum minister, who described oil and gas sector as the […]
A Chinese man has caught a rare monster fish in a river and wants to sell it at an unbelievably whopping sum.
A fisherman from east China caught a 1.56 meter long monster fish and wants to sell it for 1.1million yuan, or about 165,000 USD, CRI English reports.
The megalonibea fusca fish was caught near a reef off the coast of Zhoushan, Zhejiang Province of China on Sunday and weighs 48kgs.
The fisherman said the fish is as rare as giant pandas. […]