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Nigerian lawmakers approve $2.4 bn funds for security, coronavirus vaccines
Nigerian lawmakers on Wednesday approved some 982.7 billion naira ($2.4 billon) additional budget funds to help the government buy COVID-19 vaccines, and equipment for its security forces. Africa’s top oil producer, Nigeria is struggling with the economic impact of the pandemic and a slump in crude prices as well as surging violence from criminal gangs and its grinding jihadist insurgency. The approved amount is $216.8 million higher than President Muhammadu Buhari’s request made to the lawmakers in June and is expected to be sourced through international and local borrowing. Most of the funds – around 722 billion naira ($1.8 billion) would go towards the procurement of additional equipment for security forces, Senator Barau Jibrin, chair of the senate appropriation committee, said. Around...
BUA increases price of cement
BUA Cement Plc has increased the ex-factory price of its cement product by N200 per bag. The cement manufacturer, it was reliably gathered, unveiled its new price increase from N2,800 to N3,000 per bag over the weekend. The price increase by BUA is contrary to what he has repeatedly asserted that his company does not have any justification to increase the price of cement as it is currently making enough returns. It would be recalled that BUA Cement, in various statements issued between April 24 and June 18 this year, had refuted any claims of increase in the ex-factory price of its cement products by N300 per bag, stating that, “the company had no plans to increase prices of its cement now or in the near future.” According to a statement issued on April 24, 2021, the company stated that, “...
Anambra election: PDP aspirant urges delegates to shun monetary inducement
Dr Godwin Maduka, a major contender for the gubernatorial ticket of the Peoples Democratic Party (PDP) in the Nov. 6 election in Anambra has urged party delegates to shun financial inducement. Maduka, America-based medical practitioner-cum politician, made the call while addressing journalists on Sunday in Awka on the need for party delegates to cast their votes without fear or coercion. He advised delegates to shun monetary inducement and develop boldness to vote for a candidate who has the capacity to develop the state.a He said though he has enough money to buy delegates at any cost but saw an act as undemocratic and should be discouraged for the people to get a sound polity. “Our delegates should be political active and not be passive any more in affairs that concerns their generation ...
NNPC begins work on Port Harcourt refinery
The Nigerian National Petroleum Corporation (NNPC) has kicked off construction work in the Port Harcourt Refinery rehabilitation project with a firm commitment not to fail Nigerians. A statement on Friday by the Group General Manager, Group Public Affairs Division of the NNPC, Dr Kennie Obateru, quoted the NNPC Chief Operating Officer, Refineries & Petrochemicals, Engr Mustapha Yakubu, as saying that everything was being done to ensure that the project is delivered hitch-free and on schedule. Speaking at the Technical Kick-off Meeting for the project held at the Port Harcourt Refinery Complex, Alesa Eleme, Rivers State, Engr Yakubu said everything about the project had been carefully worked out to ensure that the target of at least 90% refining capacity is achieved when operational. “I...
Official: Lagos residents consume N5 trillion worth of food annually
The Lagos State Government says residents of the state are consuming food and agricultural produce worth about N5 trillion annually. Ms Abisola Olusanya, the Commissioner for Agriculture, made this known at a news conference on Thursday in Lagos to commemorate the second year in office of Gov. Babajide Sanwo-Olu’s administration. Olusanya said that the amount might increase to N6.3 trillion by 2030, if the population of the state grew to 30 million. “It is worthy to note that in terms of the amount of food we consume in Lagos on an annual basis, it is almost N5 trillion. “If the population is to grow to about 30 million by 2030, Lagos will likely need food worth N6.3 trillion on an annual basis,’’ she said. According to her, currently, Lagos is producing about 20 to 24 per cent of its food...
AfDB provides $400,000 grant for SEC
African Development Bank Group (AfDB) on Friday signed a $400,000 grant agreement with the Securities and Exchange Commission (SEC) to strengthen securities market regulation and broaden market instruments. The funds, according to a statement from AfDB, will go towards strengthening the risk-based supervision framework, regulation of derivatives and green bonds, and build capacity for green finance. The grant will be sourced from the Capital Markets Development Trust Fund, a multi-donor fund administered by the Bank. “This collaboration further underscores our mutual goal to grow our markets and create viable avenues for sustainable economic development for Nigeria and the region,” said Lamido Yuguda, Director General of the Securities and Exchange Commission at the virtual signing ceremon...
#EndSARS: CNN defends investigative report on Lekki shooting
Cable News Network, CNN, has reacted to the Federal Government’s stance that it should be sanctioned over its report on the October 20 shooting incident at the Lekki Toll Gate, saying it stands by its report. The post #EndSARS: CNN defends investigative report on Lekki shooting appeared first on TODAY. You Deserve to Make Money Even When you are looking for Dates Online. So we reimagined what a dating should be. It begins with giving you back power. Get to meet Beautiful people, chat and make money in the process. Earn rewards by chatting, sharing photos, blogging and help give users back their fair share of Internet revenue.