NEWS REVIEW FOR FRIDAY, JANUARY 13 , 2017
Oil & Gas
Workers praise NNPC over welfare
Oil workers have described the administration and programmes of the Nigerian National Petroleum Corporation (NNPC) Group Managing Director (GMD), Dr. Maikanti Kacalla Baru, as workers-friendly.
NNPC Seeks More Royalty on Deep Offshore, Inland Basin PSCs
The Nigerian National Petroleum Corporation (NNPC) has proposed some key amendments to the royalty regimes of deep offshore and inland basin Production Sharing Contract (PSC) Act.
NSE backs sale of refineries, Ajaokuta Steel
The Nigerian Stock Exchange (NSE) has urged the Federal Government to sell the country’s four refineries and the Ajaokuta Steel complex to enhance their operations.
NLNG refutes LPG price increase claims
The Nigeria LNG Limited (NLNG) has refuted recent media reports that LPG price in the domestic market has increased. In a statement signed by Kudo Eresia-Eke, General Manager, External Relations, NLNG stated that Nigeria LNG’s domestic LPG price is based on an international price index plus 50 percent of the shipping cost of delivering
Prevailing peace in N-Delta’ll be sustained —Okowa
Governor Ifeanyi Okowa of Delta State, yesterday, expressed confidence that the prevailing peace in the creeks of the Niger Delta would be sustained.
Minister to senators: No going back on closure of Abuja Airport
Minister of State for Aviation, Senator Hadi Serika yesterday told Senators that the Nnmadi Azikwe International Airport, Abuja must be closed for six weeks to repair its runway, saying all necessary arrangements have been completed.
US, others stall release of $550m Abacha loot
Nigeria stands to lose another $550 million recovered from the Abacha’s family to the United States U.S), chairman Presidential Advisory Committee Against Corruption (PACAC), Prof. Itse Sagay has said.
N396.5bn Multilateral Fund for New Development Bank as FG Applies for CBN’s Licence
The federal government has formally applied to the Central Bank of Nigeria (CBN) for an operational licence to float the proposed Development Bank of Nigeria (DBN).
Non-passage of MTEF Delays Budget Debate
The House of Representatives has said the delay in the passage of the 2017-2019 Medium Term Expenditure Framework (MTEF) has led to the inability to commence debate on the N7.3 trillion budget for 2017.
World’s jobless to rise amid economic uncertainty
The UN International Labour Organisation (ILO), said economic growth trends was lagging behind employment needs and predicts both rising unemployment and worsening social inequality throughout 2017.
Will budget 2017 stimulate real sector?
The stage appears set for real sector’s rebound. With N20 billion for reviving the Export Expansion Grant (EEG) in the N7.3 trillion 2017 budget proposal and plans to resume payment of accumulated Negotiable Duty Credit Certificate (NDCC) estimated at over N300 billion as well as increased focus on infrastructure development, the sector looks good to rescue the economy from recession.
Reps set to pass MTEF, begin budget consideration next week-Namdas
The House of Representatives says it is set to pass the Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) next week to prepare way for the commencement of consideration of the 2017 Appropriation Bill.
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