Business

FG gets 53% of November revenue allocation

Over N369 billion was last week distributed among the three tiers of government, as statutory allocation for November 2015, the federal government has said.

Briefing journalists at the end of the monthly outcome of the Federation Accounts Allocation Committee meeting in Abuja, Minister of Finan [...]

Thu, 31 December 2015


Yuletide: Traders decry non-payment of workers’ salaries

Traders in the federal capital territory have decried the non-payment of workers’ December salary even as they say it has negatively affected patronage in major markets.

Some of the traders who spoke with The Abuja Inquirer said patronage have been relatively low, compa [...]

Thu, 31 December 2015


RMFAC backs Buhari on fuel subsidy removal

The Revenue Mobilisation Allocation and Fiscal Commission, RMAFC, has commended the federal government’s decision to remove subsidy on petroleum products, describing the subsidy policy as a financial burden that Nigeria must urgently discard.

President Muhammadu Buhari had in his 2016 bud [...]

Thu, 31 December 2015


Overview of 2016 Budget of Change

Conflicting views have continued to trail the 2016 budget proposal, with some analysts expressing worry over the successful implementation of the N6.08trillion ’Budget of Change.’

The budget, which President Muhammad Buhari, has described as one that would stimulate the economy, wit [...]

Thu, 31 December 2015


FG to unbundle NNPC into four companies

The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu has said the Nigerian National Petroleum Corporation, NNPC, would soon be unbundled into four companies for efficient operation.

Kachikwu, who stated this in Abuja during a press conference, said the unbundling is part of the final [...]

Sun, 20 December 2015


New companies to generate over 1000 megawatts - NERC

The eight newly licensed electricity generating companies, GENCOs, are expected to boost power generation with a combined capacity to generate 1,648.25 megawatts of electricity, the Nigerian Electricity Regulatory Commission, NERC, has hinted.

According to the commission, the licences is a mixt [...]

Sun, 20 December 2015


Scam alert: CBN cautions customers on BVN messages

The Central Bank of Nigeria has advised bank customers to be wary of fraudsters who trick people into releasing their bank details through fraudulent messages purportedly asking them to complete their Bank Verification Number, BVN registration process to avoid the deactivation of their accounts.

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Sun, 20 December 2015


Minister canvasses agric subsidy

As the clamour for the removal of petroleum subsidy deepens in some quarters, the Minister of Agriculture and Rural Development, Chief Audu Ogbeh, has called for the diversion of the subsidy fund to agriculture.

Ogbeh, who made the call at an interactive session with the House Committee on Agri [...]

Sun, 20 December 2015


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