Ambode Presents =N=852.316BN Y2019 Budget To State Assembly

Lagos State Governor, Mr. Akinwunmi Ambode, presenting the Y2019 Budget to the State House of Assembly, at the Assembly Complex, Alausa, Ikeja, on Tuesday, February 5, 2019. Lagos State Governor, Mr Akinwunmi Ambode on Tuesday presented the year 2019 budget proposal of N852.316billion to the House of Assembly, with a pledge that it had been carefully prepared to be all-encompassing and dedicated to complete major ongoing projects in the State. The Governor said N462.757billion representing 54 percent of the total budget size had been earmarked for capital expenditure, while N389.560billion…

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Regularize Your Status Before End Of Q1, DPR Warns Illegal Petrol Station Operators

Mordecail Ladan, DPR Executive Director The Department of Petroleum Resources (DPR) has urged owners of illegal petrol stations and gas plants to regularize their registration before the end of first quarter of 2019. The Abuja Zonal Operations Controller, Mr Abba Misau, disclosed this at the DPR 2018 Annual General Stakeholders meeting on Thursday in Abuja. The Theme of the Meeting is “Regulatory Compliance as a veritable tool for safe and efficient operations in Nigeria’s Oil and Gas Industry’’. He said non-compliance to statutory regulations in petroleum products storage depots, filling…

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Nigeria Records 9% Rise In Crude Oil Production

Dr Maikanti Baru, GMD NNPC Nigeria’s crude oil daily production recorded an upward swing of about 2.09million barrels in 2018, translating to a 9 per cent increment, compared with the 2017 average daily production of 1.86million barrels. Pitched against the low-level daily crude oil production in 2016 and what obtains now, Nigerian National Petroleum Corporation (NNPC) Group Managing Director, Dr. Maikanti Baru, said the nation had maintained a line of consistent year-on-year improvement. For the crude oil increment and other milestones recorded by NNPC in the outgone 2018, Dr. Baru,…

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CBN Explains Introduction Of Consumer Complaint Management System

The Central Bank Of Nigeria (CBN) has announced the deployment of its Consumer Complaint Management System (CCMS) to ease the process of addressing issues. The bank made the disclosure in a circular on its Website on Friday, saying the automated system would help ease complaint management. It said the CCMS would ultimately boost Nigerians’ confidence in the banking sector. The bank also said the move was part of the apex bank’s job to ensure that the banking and finance sector was stable and conducive for all. “The Central Bank of…

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VP Debate: You Lied, BMO Tells Peter Obi

Peter Obi The Peoples Democratic Party (PDP), Vice presidential candidate, Peter Obi on Friday presented false figures, he Buhari Media Organisation, BMO, has alleged. BMO slammed the PDP vice presidential candidate, saying the politician has a penchant for cooking up figures and twisting facts. BMO said it was clear from the series of half truths Obi reeled out during the Vice Presidential candidates’ debate at the Transcorp Hilton, Abuja on Friday. The group said this in a statement signed by its Chairman, Niyi Akinsiju and Secretary Cassidy Madueke. BMO said…

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Naira Slides Further Against Dollar @ Parallel Market

The Naira on Thursday depreciated at the parallel market, exchanging at N368 to the dollar. Reports reveal that the Naira lost =N=4, compared to =N=364 traded on Wednesday, while the Pound Sterling and the Euro closed at N470 and N410 respectively. At the Bureau De Change(BDC) window, the Naira was sold at N360 to the dollar, while the Pound Sterling and the Euro closed at N470 and N410, respectively. Investors bought the dollar at N364.08 at the investors’ window, trading a total of 516.57 million dollars . Traders said that…

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Market Indicators Decrease By 1.33% @ NSE

NSE The Nigerian equities market closed lower on Thursday with further decline of 1.33 per cent to extend losing streak to five consecutive transactions days. According to reports, the All Share Index (ASI) was down by 411.92 absolute points, representing a decrease of 1.33 per cent, closing at 30,611.55 against 31,023.47 achieved on Wednesday. Similarly, the market capitalisation decreased by N150 billion or 1.33 per cent to close at N11.175 trillion compared with N11.325 trillion. The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which…

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Ambode Lauds FG For Apapa-Oshodi Expressway Construction

Lagos State Governor, Mr. Akinwunmi Ambode (3rd left); with Alhaji Aliko Dangote (2nd left); Managing Director of the Nigerian Ports Authority (NPA), Hadiza Bala Usman (left); Minister of Power, Works & Housing, Mr. Babatunde Fashola (3rd right); Chairman Senate Committee on Works, Senator Kabiru Gaya (2nd right) and Senator Oluremi Tinubu (right), during the Flag Off Ceremony for the Reconstruction of Apapa-Oworonshoki-Ojota Expressway in Apapa, on Saturday, November 17, 2018. Lagos State Governor, Mr. Akinwunmi Ambode on Saturday lauded the Federal Government for the commencement of the reconstruction of the…

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Offer Explanation For Withdrawal Of $1.2b, Senate Orders NNPC, CBN

NNPC Corporate headquarters in Abuja The Senate Committee on Gas has said that NNPC and Central Bank of Nigeria (CBN) are to submit documents on the withdrawal of $1.2 billion from the NLNG dividends account within the last two years. The committee decried the withdrawal from the Nigeria Liquefied Natural Gas ( NLNG). The Chairman of the committee, Sen. Bassey Akpan, made this known at the committee’s investigative meeting. He said the money was withdrawn to bridge the gap of losses suffered by the Nigerian National Petroleum Corporation on landing…

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Minimum Wage: Buhari Hasn’t Endorsed =N=30,000 – Presidency

Buhari and Minister of Labour, Chris Ngige at the presentation of the report of Tripartite Committee on minimum wage The Presidency has frowned at the misinterpretation of President Muhammadu Buhari’s remarks when he received the report of the Tripartite Committee on the Review of National Minimum Wage from the committee’s chairman, Ama Pepple, on Tuesday. A presidential source, who preferred not to be named, said the president did not endorse N30,000 as proposed by committee as being reported by some sections of the media. He, however, stated that President Buhari…

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