News
Economy will soon bounce back – Buhari
President Muhammadu Buhari with other APC chieftains campaign for the party’s governorship candidate Godwin Obaseki during the Edo State APC rally in Benin City yesterday
President Muhammadu Buhari has assured Nigerians that the nation will soon come out of her current economic recession and become great once again.
Nigeria’s economy plunged into recession last week with official figures showing the economy contracted 2.6% between April and June. DailyTrust
Nigeria will remain in recession till 2020 – Agbakoba
A Senior Advocate of Nigeria, Dr. Olisa Agbakoba, has said Nigeria will continue to wallow in economic recession until 2020 except the Federal Government takes hold of the banking sector and exert more regulatory control, among other measures.
Also, the senator representing Lagos-West Senatorial District, Senator Solomon Adeola, has called for urgent measures to tackle the current economic recession facing the country.
Agbakoba advised the Federal Government to return the Treasury Single Account to the commercial banks and create a new supervisory agency to monitor them, while the Central Bank of Nigeria should focus its attention on formulating monetary policies. Punch
PDP asks court to disqualify Obaseki over university degree
The Edo State chapter of the Peoples Democratic Party said it has filed a suit at the Federal High Court in Benin seeking to disqualify the candidate of the All Progressives Congress, Godwin Obaseki, from contesting the September 10 governorship election.
The party is asking the court for a declaration that Obaseki’s statement that he graduated from the University of Ibadan with a Bachelor of Arts degree in Classical Studies in 1976, made under oath in the Independent National Election Commission form CF001, Part B, Paragraph C and dated July 11, 2016, was false. Punch
Ondo APC primary: Party chief unveils fake delegates
The immediate past chairman of the All Progressives Congress (APC) in Ondo East Local Government Mr. Akintunde Temitope has exposed the alleged fake names that were injected into the delegates list used for the party’s governorship primary election on Saturday.
Temitope, in a petition to the Chairman of the Governorship Appeal Committee, alleged that a strange delegates list was introduced on the night of the election after everybody had gone to bed “only for us to wake up in the morning of the election to see a massively adulterated delegates list”.
He said “names of 47 per cent of the legitimate delegates in Ondo East Local Government were either deleted or substituted with people who are unknown to the party as exco members. Some of the injected names are not even aware of the development and so did not come for the primary election.”The Nation
Radio Kano suspends staff over Kwankwaso’s song
The Managing Director of Radio Kano, Hajiya Sa’adatu Babaji has suspended the station’s Head of Librarians, Alhaji Habibu Musa Gwangwazo for airing a song in which the former Governor of the state, Dr. Rabi’u Musa Kwankwaso was praised.
Daily Trust gathered that an announcer at the station, Hajiya Furera Umar, who was on duty when the song was aired, was also issued with a query. DailyTrust
Business News
Nigeria’s Exports Grow By 63% to N1.873trn in Q2
The total value of Nigeria’s export trade increased to N1.873 trillion in the second quarter (Q2) of 2016, representing an increase of N725.6 billion or 63.3 per cent, over the value recorded in the preceding quarter.
The National Bureau of Statistics (NBS) disclosed this in its foreign trade statistics for Q2 2016 that was released on Tuesday.
According to the NBS, the improvement in export value was largely due to the depreciation in the value of the naira.
It, however, pointed out that the structure of the export trade is still dominated by crude oil exports, which contributed N1.493 trillion or 79.7 per cent to the value of total domestic export trade in 2016. Thisday
New gas plan, oil sector roadmap underway – Kachikwu
The federal government is vigorously driving the process for the passage of the various components of the Petroleum Industry Bill (PIB) as part of efforts to ensure stability of the environment for oil majors and other stakeholders, Minister of State for Petroleum Resources Dr. Ibe Kachikwu said yesterday.
This comes as the Chairman of the Senate Committee on Petroleum (Upstream) Tayo Alasoadura revealed that the PIB which has gone through first reading will be passed in five months’ time. DailyTrust
Nigeria’s four major airports must be concessioned – Aviation Minister
The Minister of State for Aviation, Hadi Sirika, on Tuesday said there was no going back on the Federal Government’s plan to concession the four major airports in the country.
Mr. Sirika made the remark while speaking at an interactive session with Aviation correspondents in Lagos.
The Federal Government had indicated interest to concession the Lagos, Kano, Abuja and Port Harcourt international airports, to improve their safety and capacity. PremiumTimes
Why we insist on TSA – Buhari
The introduction of the Treasury Single Account has helped the government to close many loopholes which had hitherto been used by unscrupulous elements to illegally divert government resources, President Muhammad Buhari has said.
Speaking yesterday at the 10th Banking and Finance Conference, President Buhari said his government took the rather tough decision in order to entrench transparency, efficiency and accountability in government finances.
The president who was addressing banks’ chief executives through the Permanent Secretary, Minister of Finance, Mahmoud Isa Dutse, at the event said the TSA has encouraged them to look for innovation and more sustainable ways of sourcing funds from the retail market thus promoting greater financial inclusion. DailyTrust
Petrol price hike: Modular refineries only way out, Ejinkeonye tells FG
The President, Abuja Chamber of Commerce and Industry, ACCI, Mr Tony Ejinkeonye, yesterday, said modular refineries remained the only way to avoid fuel price hike.
This is coming on the heels of the fuel price hike suggestion by former Group Managing Directors, GMDs, of the Nigerian National Petroleum Corporation, NNPC, a position the Federal Government swiftly rejected. Vanguard