Author: straightnewsng.com

The Debt Management Office (DMO) has raised N410 billion from the domestic capital market as public borrowings to fund the 2018 budget. The federal government had indicated that N1.6 trillion would be borrowed to finance about N1.95 trillion deficit contained in the budget. Stating this at a press briefing in Abuja Tuesday, Ms. Patience Oniha, the Director-General of DMO, also said the nation’s public debt stood at N22.4 trillion as at end of June ($73. 31b) of which $22 billion was external. Oniha explained that when compared to the debt figure for March 2018, the Public debt stock decreased by…

The price of refilling Liquefied Petroleum Gas (Cooking Gas) in Akwa Ibom State, Southern part of Nigeria is witnessing an astronomical rise, National Bureau of Statistics, NBS, reported. Though two states in the country are leading the pack in high prices of refilling cooking gas, Akwa Ibom is the third in the rung of the average price of a 12.5kg cylinder. In a Premium Motor Spirit (Petrol), Liquefied Petroleum Gas (Cooking Gas) and Automotive Gas Oil (Diesel) Price Watch released on Tuesday in Abuja, NBS indicates that a 12.5 kg cylinder of cooking gas in Akwa Ibom costs N4,660 while…

The Speaker of the House of Representatives, Yakubu Dogara, Tuesday, shunned a meeting summoned by Comrade Adams Oshiomhole led National Working Committee, NWC, of the All Progressives Congress, APC, with the party caucus in the National Assembly to devise strategies towards reconvening the two chambers of the legislature. Dogara who is purportedly linked with defection to Peoples Democratic Party, PDP, had on Tuesday held a joint press conference with Bukola Saraki, Senate President announcing that a noew date for National Assembly to reconvene was not known. Declaring the meeting open, Oshiomhole announced that the Senate President, Bukola Saraki, would be…

FIFA, World football governing body, has given Nigeria a seven-day ultimatum to set its football house in order or be banned. Amaju Pinnick and Chris Giwa who have been in and out of courts have continued to lay claim to the top job of running fooball in the country, a situation that has destabilised football in the country. In a statement on Tuesday, FIFA gave Federal government up to Monday, 20 August 2018 to hand over the Nigeria Football Federation (NFF) offices to the legitimate NFF executive committee under President Amaju Melvin Pinnick, who was duly elected on 30 September…

The congestion of Lagos Port leading to gridlock along Apapa Road is a major concern to port users and many Nigerians. Concerned by port congestion, Akinwunmi Ambode, Lagos State Governor, recently added strident voice for the establishment of ports in other parts of the country to decongest Lagos Port. Youths in the Niger Delta region under the aegis of Niger Delta Youth Movement, NDYM, have called on the Federal Government to develop and open up existing seaports in the Niger Delta in order to decongest the Lagos ports and create economic boom in the region. Against this background, such ports…

The restructuring mantra is gaining currency every day as many Nigerians keep on drumming the music into many ears and fashioned the implementation of policy. It was one of the campaign promises of All Progressives Congress, APC, used in wooing voters to the party but which has now become a stunt to hoodwink many. Joining the train of callers, Senator Ahmed Makarfi, Former Governor of Kaduna State and 2019 Presidential aspirant of Peoples Democratic Party, PDP, vowed if elected Nigerian President in 2019, he would implement restructuring to address insecurity plaguing the country. Speaking when he paid a consultative visit…

Nigerians have been marginalised, short-changed and traumatised for a long time such that anything the leaders proffer as a solution to the problems of the country is hardly accepted by majority of the population. Mr. Godwin Nyiam, a senatorial aspirant on the platform of the Peoples Democratic Party, PDP, for the Northern District of Cross River State, speaking in Calabar stated that county has hardly experienced true leadership since its independence. So far, Nigeria has been ruled by eight military leaders, one Interim National Government and six civilan governments including President Buhari, yet the leadership question remains an…

The Presidency said Tuesday that those insinuating that the European Union, the United States and Saudi Arabia were persuading President Buhari not to seek re-election in 2019 were afraid of their shadows. The Presidency also said the purveyors of such insinuation were afraid that President Buhari will defeat them in any election contest, and have now decided to concoct any story to dissuade him from standing for the election. In a statement in Abuja, Femi Adesina, Special Adviser to the President on Media and Publicity, debunked a newspaper publication that western countries, such as the United States, the European Union…

A group of investors have acquired a 100,000-barrel per day, BPD, refinery in Turkey, from British Petroleum, BP, and are in the process of relocating the plant to Nigeria for installation near the Port-Harcourt Refinery. The Nigerian National Petroleum Corporation, NNPC, in a statement in Abuja on Tuesday, also noted that another brownfield refinery with similar capacity would be built by another group of investors near the Warri refinery. NNPC said both projects were under its collocation initiative designed to boost local refining capacity and to end the era of petroleum products importation. Speaking on the projects in an interview…

Bukola Saraki, Senate President, and Yakubu Dogara, Speaker of the House of Representatives, agreed Tuesday that no date had been fixed for the reconvening of the National Assembly to consider the budget of the Independent National Electoral Commission, INEC. This came on a day the All Progressives Congress, APC, accused the Senate president of high treason, noting that it had also uncovered plans by Peoples Democratic Party, PDP, to attack its senators as a way of frustrating their efforts to effect a change in the leadership of the Senate. But in a swift reaction, PDP described APC’s allegation as laughable…