Author: straightnewsng.com

The Nigeria Extractive Industries Transparency Initiative, NEITI, Tuesday, stated that for eight years, the Nigerian National Petroleum Corporation, NNPC, the Nigerian Petroleum Development Company, NPDC, and companies operating in the oil and gas industry in Nigeria are yet to remit $22.06 billion and N481.75 billion to the Federation Account. In a report presented at its National Conference on Remedial Issues in Abuja, NEITI stated that Nigeria lost $3.038 billion and N60.997 billion from crude oil production, production and transportation, while unreconciled differences arising from the allocation, sale and remittance of proceeds from domestic crude oil allocated to the NNPC amounted to N317.475…

Two weeks after abandoning his party, Senator Shehu Sani has launched ferocious attack by predicting doom for his estranged All Progressives Congress, APC in the forthcoming elections. Sani, who left APC after failing to get the party’s Senate ticket for Kaduna Central Senatorial District and joining Peoples Redemption Party, PRP, urged the former governor of Akwa Ibom State, Senator Godswill Akpabio who recently joined APC to return to the Peoples Democratic Party, PDP. He had been promised the ticket by Comrade Adams Oshiomhole, the national chairman of the party, but Governor Nasir El-Rufai of Kaduna State wrestled him to the…

The All Progressives Congress, APC, has dismissed claims by Senator Abba Bukar Ibrahim that the North East could turn its back on the party and President Muhammadu Buhari in the forthcoming elections, if the party failed to entrench good governance in the region. National Vice Chairman of the party in the North East, Comrade Mustapha Salihu, told Vanguard in an interview that the claim as enunciated by Senator Ibrahim was his personal opinion, saying the people of the region knew where their hearts laid. Ibrahim, a three-term governor of Yobe State and a three-term senator had at the launch of…

The Federal Government has warned chairmen of boards and agencies against interfering with the operations of their respective agencies. The board chairmen, according to government, do not possess the powers to suspend heads of agencies under them. The warning came on the heels of the recent suspension of Yusuf Usman, the Executive Secretary of the National Health Insurance Scheme, NHIS, by the board of the agency. Secretary to the Government of the Federation SGF, Boss Mustapha, Tuesday, gave the warning at the induction of board members of some agencies, including federal universities and medical centres in Abuja. He noted that…

There were indications Monday that the governors and the Federal Government could not reach an agreement over the exact figure for the new minimum wage. The federal government had put forward a new minimum wage of N24,000, while Organised Labour insisted on N30,000. At the meeting of the governors with government’s Economic Management Team, EMT, chaired by the Vice President, Yemi Osinbajo, the governors had requested to meet Tuesday on the platform of the Nigeria`s Governors Forum, NGF, to critically analyse the memo from the Minister of Labour and Employment, Senator Chris Ngige, to them for them to take a…

MTN Group, Monday, announced a 28.5 per cent revenue decline on MTN Nigeria services, blaming the continued optimisation of its Value Added Services, VAS. This is also as the telco blamed the Central Bank of Nigeria, CBN and the Attorney-General of the Federation, AGF, for its inability to accomplish listing process in the Nigerian Stock Exchange market. MTN Group president/Chief Executive Officer, Rob Shuter while delivering the Q3, 2018 financial year report, said the loss was expected to continue to the next quarter due to expected low VAS revenue earnings. The Nigerian Communications Commission, NCC, had on May 21, 2018 issued a…

More than 16 members of the Islamic Movement of Nigeria, IMN, also known as Shi’ites, were reportedly killed when a combined force of the Nigerian Army and police Monday engaged them in a bloody clash in Abuja. Trouble was said to have started as the Shi’ite poured into the FCT from all major routes leading to the city centre to observe the Arbaeen mourning processions, despite warnings from the security agencies not to do so. The Shi’ites said to have failed in breaking a barricade formed by the security men pelted them with stones, an action that infuriated the security…

Some prominent Nigerians, Sunday, commiserated with the family of Chief Tony Anenih, a one-time Board of Trustees Chairman of Peoples Democratic Party, PDP, over his demise. Chief Tony Anenih, 85, died on Sunday evening at Cedarcrest Hospital, Abuja, where he was receiving treatment for an undisclosed ailment. Bukola Saraki, Senate President Sunday tweeted “Chief Tony Anenih, was a consummate elder statesman who played several defining roles throughout Nigeria’s democracy. He will be remembered for his great patriotism and his insight into national issues. He will be dearly missed. Rest in Peace, Chief.” Governor Ibrahim Hassan Dankwambo (@HEDankwambo) tweeted Sunday “I…

A former Nigerian President, Dr. Olusegun Obasanjo, Sunday, canvassed support of Akwa Ibom people for the second term bid of Governor Udom Emmanuel. Dr. Obasanjo who worshipped with the Akwa Ibom governor at Qua Iboe Church, 112, Ikot Ekpene Road, Uyo said “God is a God of continuity since he created the world. I always say to myself and my family: if something is good, keep it. “We have a good product in our hand and if I have a good product in my hand, I will not change it, I will keep it. “This is a good product, let’s…

Depot and Petroleum Products Marketers Association, DAPPMA, said Sunday that unpaid subsidy arrears of over N650 billion by the Federal Government posed huge financial challenges to the downstream operations. DAPPMA Executive Secretary, Mr Olufemi Adewole, told the News Agency of Nigeria (NAN) in Lagos that the settlement of the debts owed them would save their assets from being taken over by banks. Adewole said the downstream segment of Nigeria’s petroleum industry was fast becoming unattractive to lending institutions owing to rising debt profiles of its players on account of unpaid subsidy arrears by government. “This is posing a huge financial…