Economy

Sustain Peace to Maximize PIA Benefits, Lokpobiri Urges Host Communities Host Communities (HostCom) in the Niger Delta must sustain peace and create a conducive environment to continue benefiting from the Host Community Trust Fund established by the Petroleum Industry Act (PIA). Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, Ph.D., made this call during the KEFFESO Stakeholders Forum …

Petroleum Minister Calls For A Globally Inclusive Energy Transition Framework As the world moves towards cleaner energy, the Minister of States for Petroleum Resources ( Oil), Heineken Lokpobiri, has called for a globally inclusive energy transition framework that reflects Africa’s unique developmental challenges. Speaking on Monday in Abuja an exclusive reception dinner, hosted by the Embassy of the United Kingdom …

FG Committed To Niger Delta Development —Lokpobiri The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, Ph.D, has received Members of the South South Caucus of the 10th Assembly House of Representatives. The lawmakers visited to express solidarity with the Federal Government’s ongoing efforts to transform the oil sector and advance development in the Niger Delta region. Speaking …

By Chris Mark The Organisation of Oil Exporting Countries (OPEC) has handed pass marks to Nigeria and other member countries over their conformity with the crude oil production quota for November and December 2024. The evaluation, which was carried out during the 58th Meeting of the OPEC Joint Ministerial Monitoring Committee (JMMC), showed that OPEC and non-OPEC countries under the …

 Kebbi Budgets N580.33bn For 2025 By Jameel Gulma, Kebbi   Kebbi State Govenror, Dr Nasir Idris, Kauran Gwandu on Wednesday, presented the state’s proposed 2025 budget amounting to over N580.33 billion. The Kauran Gwandu said that the 2025 budget was tagged, “Economic and Infrastructural Consolidation ”. According to the governor, among other sources, the budget is expected to be funded …

Tinubu Boasts of His Economic Policies As He Presents The 2025 Appropriation Bill Shalom Oludele   President Bola Ahmed Tinubu has boasted of his economic policies, saying indicators have proven that the economy is responding positively to stimulus. Tinubu, who said this while presenting the 2024 budget on Wednesday before a joint session of the National Assembly, said the focus …

Breaking News: 2025 Budget Proposal: N15.8trn Allocated For Debt Servicing, Security, N4.91trn   By Shalom Oludele   A sum of N15.81 trillion has been allocated for debt servicing in the 2025 Appropriation Bill presented to the joint sitting of the National Assembly by President Bola Ahmed Tinubu. Defence and Security tops the sectoral allocations in the N47.9 trillion budget presented …

2024 Budget Will Extend Into Mid 2025 –Akpabio By Shalom Oludele The Senate President, Senator Godswill Akpabio has said that the 2024 budget will be extended to June 2025. He made this known in his opening remark during the 2025 Appropriation Bill presentation  by President Bola Ahmed Tinubu to the joint sitting of the National Assembly, on Wednesday, December 18. …

$1trn economy: SEC DG lists factor constraining capital market’s potential   By Shalom Oludele Securities and Exchange Commission (SEC) has identified limited investor participation, regulatory hurdles and macroeconomic instability as key obstacles hindering the capital market’s contribution to the nation’s one trillion dollar economic goal. The Director-General of SEC, Dr Emomotimi Agama, said this at the 2024 SEC Journalists Academy …

NGX loses N69bn as sell-offs hit Oando, Dangote Sugar, Nestle   The Nigerian stock market closed on a bearish note on Tuesday, with a loss of N69 billion, due to sell-offs in large and medium capitalised stocks. The Nigerian Exchange Ltd. (NGX) market capitalisation, which opened at N59.004 trillion, dropped by N69 billion or 0.12 per cent, closing at N58.935 …