Category: News

  The three tiers of government comprising federal, states and local government councils shared the sum of N676.407 billion in the month of July.   The amount was revenue that accrued into the federation purse in July 2020.   The figure was confirmed at the end of the monthly Federation Account Allocation Committee (FAAC) meeting for August 2020 held through virtual conferencing and chaired by Dr Mahmud Isa-Dutse, Permanent Secretary, Federal Ministry of Finance.   According to a statement issued by Henshaw Ogubike, Director (Information, Press and Public Relations) in…

  The unemployment rate in Edo State dropped from 25.1 per cent in the 3rd quarter of 2018 to 19 per cent in the 2nd Quarter of 2020, the National Bureau of Statistics (NBS) has said.   According to the “Labour Force Statistics: Unemployment and Underemployment Report,” released by the NBS last Friday, Edo State has the lowest unemployment figure in the South-South region.   Specifically, the report said: “The unemployment rate among states in the South-south is as follows: Akwa-Ibom 45.2 per cent; Bayelsa 27.8 per cent; Cross River…

A Niger Delta-based civil society organisation- Niger Delta Movement for Peace & Justice, has noted with great concern and total displeasure the ongoing massive looting, corruption, abuse of office and impunity in the Niger Delta Development Commission (NDDC) perpetuated by interim management committee under the supervision of the Minister of Niger Delta Affairs. In a statement signed by the National Coordinator of the movement, Comrade Etifit Nkereuwem,  the group said the recent revelations of accusations, allegations and counter accusations and allegations by the Minister of Niger Delta Affairs and IMC against…

Following report by the board of Retail Supermarkets Nigeria Limited, a subsidiary of Shoprite International Limited to divert its retail businesses and exit Nigeria, the Manufacturers Association of Nigeria (MAN) has warned that the action could lead to some foreign firms leaving the shores of the country post-COVID-19. Acting Director-General of MAN, Ambrose Oruche, dropped this hint in a chat with New Telegraph in Lagos, saying that lots of businesses have recorded huge revenue losses, especially in the manufacturing sector. Oruche said that the COVID-19 crisis had changed the strategic…

  Despite weak demand and low prices, Nigeria has commenced export of  675, 691 metric tonnes of liquefied natural gas valued at N113.6billion ($252.37million) this month to various destinations. The gas,  which has started leaving Onne Port, is being ferried by 10 vessels as price hit $373.5 per tonnes in China. Although some cargoes have   taken longer time to reach their destinations, while others are still  idle at sea, data by the Nigerian Port Authority Shipping Position, however, revealed that LNG Bonny II left the Onne Port with 68,610 tonnes; Methane Princess, 61,309 tonnes;…