Author: straightnewsng.com

Nigeria, Saudi Arabia and other members of the Organisation of Petroleum Exporting Countries, OPEC, have disagreed over oil supplies as meeting of the organisation begins Friday in Vienna, Austria. The disagreement became obvious, following Saudi Arabia’s lobbying of members to support its call for increased oil supply to the market, according to investigation. It showed that many nations have been lobbying behind the scene to enable them have their ways due to strong pressure from major consuming nations, especially the United States and China that prefer increased supply and lower prices. An authoritative OPEC source stated in…

All Progressives Congress, APC, governors are fuming over purported plot by some partymen to humiliate their leader, Owelle Rochas Okorocha, and vowed to rally round him. The governors, who were at meeting at Imo State Governor’s Lodge in Asokoro area of Abuja, finetuned their list before moving to present it to President Muhammadu Buhari. It was gathered Wednesday that the governors had reached an agreement to either force Senator Osita Izunaso as the party’s national organising secretary out of the race or collaborate to vote him out on the convention ground. An indigene of Imo State, Izunaso who was endorsed…

The Federal Government’s 2018 Appropriation Act that became operational Wednesday has on one hand drawn the flak of some Nigerians for being a one-sided document and on the other hand, gotten accolades. Though Bukola Saraki, the Senate President and Yakubu Dogara, Speaker of the House of Representatives were conspicuously absent at the signing ceremony in Aso Rock, President Muhammadu Buhari after assenting the Bill into law accused members of the National Assembly of budget ‘padding.’ Before the passage of the budget by the National Assembly into law on May 16, this year, Abdulmumin Jibrin, the immediate past Chairman of Appropriation…

In the last decades, one of the most successful sectors in the business world is technology. This is reflected in the bank accounts of executives and industry creators, who often appear on lists of the richest people in the world. Bill Gates, for example, founder of Microsoft, is at the top of it, according to the latest ranking published by Business Insider magazine , developed in partnership with the Asian consultancy Wealth X, which recently released a report on the 50 richest people on the planet. Gates has already reached the post for some time and it’s no surprise he stays there – so…

Two African countries, Wednesday, became the first to crash out of the ongoing FIFA 2018 World Cup in Russia. Egypt were whipped by Russia- the host country- by 3-1and Uruguay 1-0 while Morocco were humiliated by Spain by 1-0 and Portugal- current European champion- by 1-0. From the results so far, Russia and Uruguay are qualified from Group A to round 16 while Spain and Portugal in Group B have joined their counterparts in round 16 in the ongoing World Cup. Egypt and Morocco are now left to play for pride with their next opponents as even their win in…

Independent National Electoral Commission, INEC, has added an estimated nine million Nigerians as at May 24 to the nation’s voters’ register. This brings the total number of Nigerians captured to vote during the 2019 general elections to an estimated 80 million. Speaking at an election stakeholders’ summit in Abuja, Prof. Mahmood Yakubu, INEC chairman, stated that the Nigerian Immigration Service deployed to the voters’ registration centres across the country apprehended more than 300 non-Nigerians for attempting to register. Also, more than 100 political parties may enter the ballot paper in the forthcoming general elections, revealed. Already, 138 political associations had…

The Nigerian Electricity Regulatory Commission, NERC, Tuesday, announced the suspension of the Board of Directors of Ibadan Electricity Distribution Company, IBEDC, over default in the recovery of N6 billion loan. Recall that the IBEDC got the N6 billion granted to Integrated Energy Distribution and Marketing Group, IEDMG, Ltd by the Central Bank of Nigeria, CBN, under the Nigeria Electricity Market Stabilisation Funds, NEMSF, only to be wrongly diverted for other purposes. Irked by the development, NERC had earlier fined IBEDC N50 million for non-compliance to directive to fully recover the outstanding sum of N5.7 billion, being the balance of the…

Nigeria’s rail line would cover the Western corridor of the country traversing nine states and the Federal Capital Territory, Abuja, is expected to be completed in 36 months. The loan agreement reached between Nigeria and China for the project that spans a total of 1,402 kilometres would be completed as soon. Mr. Chibuike Amaechi, Minister of Transportation, said, “This rail line, a total of 1,402 km which covers the Western corridor of Nigeria traverses nine states of our federation and the Federal Capital Territory, Abuja, and is expected to be completed within three years if the expected loan agreement with…

The Federal Government has released N1.6 trillion (N1,580,270,755,084.44) capital cost to Ministries, Departments and Agencies for the 2017 federal budget. Kemi Adeosun, Minister of Finance, who stated this said N1.6 trillion total capital released for 2017 is higher than the N1.2 trillion (N1,219,471,747,443.00) total capital released for 2016. In the 2017 capital released, Power, Works and Housing received the highest allocation of N523,011,701,723.25 or 33.10 per cent of the total capital released. The sector also received the highest released in the 2016 capital budget, which was a total of N307,411,749,682.00 (25.21 percent) of the 2016 capital budget. Defence and Security…

The Presidency has approved a new special funding to curb counter-terrorism fight in the country. The development which is part of a national action plan on preventing and countering violent extremism in the country will see relevant Ministries, Department and Agencies, MDAs, playing key roles in the fight against terrorism. The Presidency said all relevant MDAs were required to include in their subsequent annual budgets, proposals for necessary allocations in preventing and countering violent extremism. Major-General Babagana Monguno (retd), the National Security Adviser, NSA, stated the new measures Monday, at a three-day special training workshop for MDAs and Civil Society…