WTO DG: Okonjo-Iweala Knows Fate Today

Okonjo-Iweala fate of being the DG of WTO is known today

A former Nigeria’s minister of finance, Dr Ngozi Okonjo-Iweala, will on Tuesday know her fate in a bid to be the 7th director-general of the World Trade Organisation (WTO). Okonjo-Iweala scaled the first phase of the selection process. She is among the five candidates that were chosen from the eight candidates nominated by their respective governments in July. “My vision is of a WTO with purpose, where members coalesce around the capacity of trade to help foster economic growth and sustainable development,” she said in a statement to the Council.…

Read More

NNPC plans growth in domestic gas utilization

nnpc facility in rivers state

In keeping with the objectives of the United Nation’s 2030 Agenda for Sustainable Development and the Paris Climate Accord, the Nigerian National Petroleum Corporation (NNPC) is focusing on growing the nation’s domestic gas utilization for balanced economic growth. Group Managing Director of NNPC, Mallam Mele Kyari, disclosed this Tuesday at the BusinessDay Energy Series Summit which held virtually with the theme: “Nigeria at 60: Harnessing Nigeria’s Energy for the Future”. A press release by the Corporation’s spokesman, Dr. Kennie Obateru, quoted the GMD as restating NNPC’s commitment to the aggressive implementation of the…

Read More

World Bank executes 741 projects with Zamfara gov’t

ZAmfara map showing the covering of 741 projects

The Zamfara Agency for Community and Social Development (CSDP) said yesterday that it executed in 11 years, about 741 projects in the state. Specifically, these projects are in 262 communities across the 14 local government areas of the state. The General Manager of the agency Garba Muhammad, disclosed this to newsmen in Gusau. He said the projects worth N2 billion and their execution occurred under the World Bank intervention. Muhammad said that group-based societies also benefitted from the projects executed between 2009 and 2020. He said the projects cut across…

Read More

Nigeria Economic Sustainability Plan: An overview

Image analyzing Nigeria Economic Sustainability Plan principles

This post highlights the Nigeria Economic Sustainability Plan, NESP designed to cushion the adverse effects of COVID-19. Instructively, The Economic Sustainability Committee, ESC developed the Nigeria Economic Sustainability Plan. Chaired by Vice President Yemi Osinbajo, the ESC comprised several Cabinet Ministers as well as the Group Managing Director of the NNPC and the Governor of the Central Bank of Nigeria (CBN). Terms of Reference Economic Sustainability Committee include: Development of a Plan that responds robustly and appropriately to the challenges posed by the COVID-19 pandemic; Identification of fiscal measures to…

Read More

Local Content: NNPC advocates capacity upgrade

NNPC GMD addressing participants at local content

In order to achieve the target of reducing the cost of oil production in Nigeria on a sustainable basis, the Nigerian National Petroleum Corporation (NNPC) says indigenous companies operating in the nation’s oil and gas sector must upscale their capacity for global competitiveness.   The Group Managing Director of NNPC, Mallam Mele Kyari, stated this recently at a virtual stakeholders consultative summit organized by the Senate Committee on Local Content.  A press release by NNPC Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, quoted the NNPC GMD as saying that there was…

Read More

Survival Fund Registration: All you need to know

Image describing Nigeria Survival Fund registration

As the portal for registration of prospective beneficiaries of Nigeria Survival Fund opens, registration for Payroll Support Scheme commences today. Consequently, the website for Payroll registration opens today, Monday from 10 pm, September 21.  The Survival Fund is one of the programmes in the Nigeria Economic Sustainability Plan, NESP. Objectively, the plan came into being in other to cushion the socio-economic hardship unleashed by the COVID-19 outbreak. Also, its implementation is for one year, which has started with this registration. Additionally, the worth the MSMEs Survival Fund is N60 billion, which part of…

Read More

FIRS generates N1.2 trillion tax revenue in second-quarter of 2020

FIRS Chairman discussing on tax matter and Nigeria Tax revenue

Nigeria generated N1.2 trillion tax revenue in the second quarter of 2020, marginally lower than the N1.27 trillion quarterly target. Data from the Federal Inland Revenue Service (FIRS) have shown. The figure also indicated a decrease when compared to the N1.4 trillion tax collections in the second quarter of 2019. These figures contained in the Q2 performance report published by the service. Details of the collection showed that the petroleum profit taxes generated N440 billion, a huge increase when compared to the N71 billion target. The non-oil taxes, however, did not meet…

Read More

Delivery of AKK Project part of Next Level Agenda, says Buhari

Buhari AKK Project lunch via zoom

President Muhammadu Buhari has said that delivery of the 614km Ajaokuta-Kaduna-Kano Gas Pipeline, AKK project is part of his Administration’s Next Level Agenda for sustainable development and economic prosperity of Nigeria. The President, who stated this Tuesday while flagging off construction works on the AKK project via a virtual link from the State House in Abuja to two locations in Ajaokuta in Kogi State and Rigachukun, Kaduna State, said when completed the project would provide gas for generation of power and feedstock for gas-based industries, and also facilitate the revival…

Read More

A hungry nation is a troubled nation, says Atiku

Atiku on Nigerian debt burden and hungry nation

A formal vice president, Alhaji Atiku Abubakar expresses his concern over inability of farmers in Northern region of Nigeria to return to their farmlands and engage in farm activities as a result of insecurity. He warns that this may create a situation he called troubled nation due to a hungry nation. Mr Abubakar  disclosed this in a series of tweets on Monday, saying agriculture is the lifeblood of Northern Nigeria. He added that his company depends on agricultural products from farmers. And that many of them will find it difficult…

Read More