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President Muhammadu Buhari Tuesday justified government borrowing to finance infrastructure, asserting that his government took loans in the interest of the country to solve the dire shortfall in infrastructure.
Oil prices rose on Monday as a tropical storm in the Gulf of Mexico prompted drillers to evacuate rigs and shut-in production.
To state that we live in challenging times is perhaps an understatement and does very little justice in accurately capturing our current realities. Those realities include a world faced with a pandemic the scale of which hasn’t been seen in 100 years. The crisis has crippled economies, destroyed global supply chains and obliterated once productive and viable sectors of the economy.
The drop is coming after Saudi Arabia made the deepest monthly price cuts for supply to Asia in five months as optimism about demand recovery cooled amid the coronavirus pandemic.
Petrol stations across the country, yesterday, adjusted their pumps to reflect the hike in the ex-depot price of the Premium Motor Spirit, PMS, by the Petroleum Products Marketing Company, PPMC, with some of the stations raising the price to as high as N161 per litre.
Oil prices edged up on Thursday, but held near multi-week lows hit overnight after U.S. data showed gasoline demand fell and recovery from the COVID-19 pandemic was lagging.
Oil rose towards $46 a barrel on Wednesday, gaining for a third day, supported by a report that United States crude inventories fell.
Group Managing Director/Chief Executive of Zenith Bank, Mr. Ebenezer Onyeagwu, has called for a concerted effort towards diversifying the country’s export base through the promotion of non-oil exports.
Nine persons have been arrested by the Police in Enugu state for involving in offences of conspiracy, armed robbery, unlawful possession of firearm, cultism, and receiving of stolen property.
Russia’s energy minister Alexander Novak has tested positive for Covid-19, Russian news agency TASS has reported.
Oil prices rose on Monday as China’s plans to ship in large volumes of United States crude in August and September outweighed concerns over a slowdown in demand recovery after the coronavirus pandemic and an uptick in supplies.
Oil dipped below $45 a barrel, on Friday, on worries that a demand recovery would slow due to a resurgence of coronavirus cases.
Algeria said on Sunday it had given the go-ahead to a plan aimed at offering Islamic finance services, as it seeks new funding sources to cope with financial problems caused by a fall in energy revenues.
The Nigerian National Petroleum Corporation (NNPC) says it is taking legal action against a Mexican international oil firm which it accused of being a crime syndicate, SAMANO SA DE CV, and its officials over attempts to swindle the Nigerian government of over $125 million.
The Nigerian National Petroleum Corporation, NNPC, Thursday, said it has concluded plans to rehabilitate and build new plants, as all the four refineries are currently down, thus forcing the government to import petroleum products from the global market.
Edo Governor Godwin Obaseki has expressed disappointment at the conduct of the ongoing governorship election in the state.
The authorities of The Polytechnic Ibadan have terminated the appointment of a lecturer in the Department of Urban and Regional Planning of the institution, Mr Kelani Ajadi, over sexual scandal with a female student.
A cross-section of voters in Saturday’s governorship election in Ikpoba-Okha Local Government Area (LGA) of Edo has expressed satisfaction with the performance of the Independent National Electoral Commission (INEC) officials.
A 29-year-old housewife, Jamila Abubakar, has been arrested by operatives of the National Agency for the Prohibition of Trafficking in Persons (NAPTIP), for allegedly beating to death her seven-year-old step son, Muhammad Bashir.
Gov. Nyesom Wike of Rivers on Saturday commended the Independent National Electoral Commission (INEC) and security agencies for the peaceful conduct of Edo governorship election.
The Federal Government has indicated plans to completely phase out high concentration of alcohol in sachet and small Polyethylene Terephthalate and glass bottles in the country.
The National Public Relations Officer, College of Education Academic Staff Union (COEASU) , Dr. Ahmed Lawan Bazza, has said it will be dangerous to reopen schools without adequate preparation and proper health facilities.
Incumbent Governor of Edo state, Godwin Obaseki of the Peoples Democratic Party (PDP), clearly won his polling unit in Oredo Ward 4, Unit 19 as results have started emerging at Polling Units in the Edo State Governorship Election which took place Saturday.
Chairman of the Edo State governorship election National Campaign Council, Governor Nyesom Wike, has said he disagrees with Senator Bola Tinubu over his comments about the Edo State Governor Godwin Obaseki, not being a democrat.
Nigeria Security and Civil Defence Corps (NSCDC) says it has deployed no fewer than 13,3111 personnel alongside 60 sniffer dogs to ensure security during the Sept. 19 Edo governorship election.