The Central Bank of Nigeria (CBN) said Monday that the country pumped 2.12 million barrels per day (bpd) of crude oil in the second quarter of 2012, which fell below the 2.48 million bpd which the Federal Ministry of Finance had projected in this year's budget.
Updated 8 Years ago

One of the greatest fears for the Petroleum Industry Bill, PIB, which the executive presented to the National Assembly before it went on recess, is the fact it may not survive this new round of legislation like its predecessor.
Updated 8 Years ago

The new Lagos Road Traffic Law Monday garnered more support from stakeholders in the transport sector, as the National Union of Road Transport Workers (NURTW) pledged to co-operate with the State Government to ensure full implementation of the law.
Updated 8 Years ago

The continued dominance of foreign portfolio investors at the Nigerian Stock Exchange (NSE) exposes the stock market to further vulnerability, operators have warned.
Updated 8 Years ago

The Federal Government has paid a total of N259, 339, 041, 657.85 as subsidy for 2012 and the arrears of 2011 claims, the Ministry of Finance announced Monday. The ministry, in a statement by the Senior Special Assistant to the Coordinating Minister for the Economy and Minister of Finance, Mr. Paul Nwabuikwu, said that contrary to the impression given by some marketers, the Federal Government, which has budgeted N888 billion for fuel subsidy, has continued to pay marketers whose claims had been duly verified.
Updated 8 Years ago

A former Central Bank of Nigeria (CBN) Governor, Mr. Ola Vincent, is dead. Vincent, 87, died yesterday at St Nicholas’ Hospital, Lagos, after a brief illness. The cause of his death could not be ascertained, but a family source said he died as a result of age-related complications at about 12:10pm.
Updated 8 Years ago

OUR attention has been drawn to the controversy over allegations that the Minister of State for Foreign Affairs, Dr. Nurudeen Mohammed, described Nigeria as “an Islamic country with the largest Christian population.”
Updated 8 Years ago

Jay-Z brought out heavy hitters to support him at the "Budweiser Made In America" festival: Kanye West and President Barack Obama.
Updated 8 Years ago

Nigeria’s Falconets who are primed to take on USA Tuesday in one of the semi finals of the on-going FIFA Under-20 Women's World Cup in Japan were at the weekend rewarded with a Samsung Galaxy Tab and IPAD each for their splendid run at the competition so far.
Updated 8 Years ago

Says PRofessor Attahiru Jega, Chairman of the Independent National Electoral Commission, INEC and one-time national leader of the Academic Staff Union of Universities, ASUU, alongside senior officials of the INEC were in Lagos last week for an in-house strategic retreat.
Updated 8 Years ago