News
Nigerian Navy Arrests Avengers’ Major Logistics Supplier
The Nigerian Navy (NN) said it had arrested a suspected member of the Niger Delta Avengers (NDA) said to be in charge of the dreaded militant group’s logistics.
This is contained in a statement signed by Commodore Christian Ezekobe, its Director of Information, and made available to newsmen in Abuja.
According to Ezekobe, the suspect who was picked up on July 11 at about 11 a.m., is believed to be a major logistics supplier to the group which had claimed responsibility for attacks on NNPC and Chevron pipelines in the region. Independent
Nigeria heads into recession – IMF
The International Monetary Fund (IMF), on Tuesday, slashed its growth forecast for the Nigerian economy this year, saying a combination of plunging oil revenues and weakened investor confidence will push it into recession.
The IMF said it expects Africa’s largest economy to contract by 1.8 percent this year, after having forecast in April a 2.3 percent expansion. The Citizen
Nigerians In Diaspora Remit $21bn In One Year – SGF
The Secretary to the Government of the Federation (SGF), Babachir David Lawal, on Wednesday said Nigerians in Diaspora remitted to the country a total sum of $21 billion in the last one year.
He made the remark during a press briefing to mark the 2016 Diaspora Day.
Lawal, who was represented by the Permanent Secretary, Political Affairs, Office of the SGF, Olakunle Bamgbose, also said the Federal Government is partnering with Nigerians in Diaspora on meeting the needs of Internally Displaced Persons (IDPs) in the country. The Nation
Buhari’s Anti-Graft Battle Not One-Sided, Says Osinbajo
Vice President Yemi Osinbajo on Monday declared that the fight against corruption under the current administration is not one-sided.
A statement issued on Tuesday night by the Senior Special Assistant on Media and Publicity, Laolu Akande, said that the Vice President made the remark while speaking with journalists at the end of the 27th Ordinary session of the African Union (AU) in Kigali, Rwanda.
According to Osinbajo, corruption in the country is being looked at from all possible facets.
He said: “I think it’s entirely absurd, I think that view is absurd and without foundation or basis whatsoever. We look at corruption from all possible facets. The Nation
Business News
Nigeria On Track To End Gas Flaring By 2020 – Ladan
Director of the Department of Petroleum Resources, DPR, Mr. Mordecai Ladan, has disclosed that Nigeria is track to end gas flaring by 2020.
The DPR boss, who stated this during the Nigeria Gas Association 2016 Business Forum in Lagos, described gas as the game changer and a catalyst for growth that will have a multiplier effect on the Nigerian economy.
He explained that the Federal Government has put in place policies and interventions to make this happen, and that these would stimulate gas utilisation and monetisation in order to achieve a viable gas sector. Sweetcrude
NCDMB, BOI launch $600m Nigerian Content Intervention Fund
Chuks Isiwu 20 July 2016, Sweetcrude, Lagos – The Nigerian Content Development and Monitoring Board, NCDMB, and the Bank of Industry, BOI, launched Tuesday in Lagos a $600 million Nigerian Content Intervention Fund, NCI Fund.
It is a pool made available by the NCDMB to meet the funding needs of manufacturers, service providers and other key players in the Nigerian oil and gas sector. Sweetcrude
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