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Hajia Zainab Ahmed, the Minister of Finance, Budget and National Planning, on Thursday presented the draft 2021 to 2023 Medium Term Expenditure Framework(MTEF) as well as the Fiscal Strategy Paper to the National Economic Council (NEC).
Oil prices dipped on Wednesday after industry data showing a build in United States crude stockpiles added to worries about oversupply, but hopes for a swift economic recovery in China limited losses.
Angola has agreed with OPEC to comply fully with a global pact on supply curbs and will compensate for previous overproduction by cutting more from July to September, two OPEC sources said.
Dr Titus Okunronmu,a former Director, Budgetary Department, Central Bank of Nigeria (CBN) has urged the Federal Government to resuscitate all the nation’s refineries towards addressing the problem of fuel importation.
Nigeria’s first professor of the Capital Market and former Imo State Finance Commissioner, Prof Uche Uwaleke, on Wednesday described the hike in petrol price from N123.50k/litre to a price band of N140.80 to N143.80 as an indication that the Federal Government was ready to gradually exit the fuel subsidy regime.
Tankers carrying nearly two months worth of Venezuelan oil output are stuck at sea as global refiners shun the nation’s crude to avoid falling foul of United States sanctions, according to industry sources, PDVSA documents and shipping data.
The price of Bonny Light, Nigeria’s Bonny Light, has bounced back to $40 per barrel, as the Organisation of Petroleum Exporting Countries, OPEC and the Gas Exporting Countries Forum, GECF, have ended a successful engagement over the oil market.
Oil prices rose more than one per cent on Friday, adding to gains in the previous session, after OPEC producers and allies promised to meet commitments on cutting supply and two major oil traders said demand was recovering well.
Nigeria’s current daily oil production overcomplies with its promised cuts under an agreement among major oil producers, the head of the state oil company said on Friday.
Oil prices edged down on Monday as traders took profits, with the Organisation of the Petroleum Exporting Countries (OPEC) considering meeting as soon as this week to discuss whether to extend record production cuts beyond end-June.
The global oil market remains dull as 50 unsold cargoes of Nigeria’s Bonny Light await buyers, indicating that the volatile market is still flooded with unsold stocks.
Oil prices advanced on Thursday as a drawdown of the U.S. crude inventories and output cuts by major producers helped ease concerns about a supply glut, though lingering fears over the global economic fallout from the COVID-19 pandemic capped gains.
A global credit ratings agency, Fitch Ratings, has said Nigeria’s compliance with the oil production cut deal led by the Organisation of Petroleum Exporting Countries will lead to deeper economic contraction and fiscal deficits.
Oil prices fell on Wednesday as potential OPEC+ plans to deepen supply cuts were overshadowed by demand concerns exacerbated by a possible second wave of coronavirus infections as countries ease lockdowns.
UEFA has confirmed that the outstanding Champions League and Europa League last-16 second leg matches will be hosted by the clubs who were scheduled to play at home.
Power Distribution Companies (DisCos) have advocated a Central Bank-funded massive meters roll-out project, to ensure that electricity customers were adequately metered.
The Independent National Electoral Commission (INEC) has confirmed that 17 out of the 18 registered political parties will be contesting the October 10, 2020 Ondo state governorship election.
International Federation of Women Lawyers, FIDA, Nigeria; Women in Politics and National Council for Women Society, Nigeria, among others civil society organisations, have described the refusal of Governor Ben Ayade of Cross River State and members of the state House of Assembly to confer Justice Akon Ikpeme as the Chief Judge of the state, as gross injustice.
The state Commissioner of Education, Dr Aliyu Usman Tilde, who stated this in an interview with newsmen, explained that the school resumption at this critical period would gulp millions of naira from the Federal Government for necessary arrangements towards preventing the spread Coronavirus.
Barcelona presidential candidate, Victor Font, has said they cannot afford to lose Lionel Messi.
The Bayelsa government says it will enforce the compulsory use of face masks in public places as spelt out in the Executive Order signed by Gov Douye Diri.
Rivaldo has dismissed Josep Maria Bartomeu's claims of La Liga bias towards Real Madrid, insisting Barcelona's "problem isn't VAR", but rather a lack of "quality".