Economy

The recent announcement by the Federation Accounts Allocation Committee, of over N760bn disbursement to cash famished states, was popularly regarded as a bailout package, despite clarifications from the President’s Media Adviser that the income was […]

Standard & Poor’s, an international ratings agency on Wednesday said Nigeria would have to devalue the Naira at some stage, possibly by more than 15 per cent, although it saw the adjustments as likely to […]

By Obinna Chima with agency report,THIS DAY Standard & Poor’s (S&P), a global ratings agency, yesterday stated that the Central Bank of Nigeria (CBN) would have to devalue the naira at some stage, possibly by […]

The reliefs are only temporary. The states must put their house in order In an effort to end the lingering crisis of unpaid workers’ salaries in several states across the nation, President Muhammadu Buhari last […]

The debate over the possibility of Greece leaving the Eurozone due to its inability to repay its debts, led me to think about the usefulness and purpose of the African Union, AU. Beyond defending war […]

  A scathing assessment of the CBN’s strategy for reducing the increasing demand pressure on the Naira was recently published by “The Economist,” which is a UK based internationally respected magazine. ‘The Economist’ in its report titled […]

  Anxiety over the availability of petroleum products has heightened in some states in the southern part of the country as members of the National Union of Petroleum and Natural Gas Workers (NUPENG) commence indefinite […]

Commissioners of Finance and Accountants General of the 36 states of the federation on Tuesday distanced themselves from claims by the former Minister of Finance, Ngozi Okonjo-Iweala, that they were part of the decision to […]

A cursory survey of media reports on the downstream oil sector suggests that the prevailing popular belief is that a predatory cabal has a vice grip over the business of fuel importation. There is concern, therefore, […]

There are indications that some agencies under the Nigerian National Petroleum Corporation (NNPC) may be scrapped as part of the reforms being initiated by President Muhammadu Buhari. The president hinted this yesterday when he listed […]

The Nigerian National Petroleum Corporation, NNPC, generated about N8.1trillion between 2012 and May 2015, but paid only N4.3trillion to the federation account, Edo State governor, Adams Oshiomhole, said Monday, citing new details from the federal […]

According to recent media reports, almost N5tn was disbursed as subsidy payment on fuel consumption between 2006-2012? Thus, the annual average provision of about N1tn is probably equivalent to about one fifth of total annual […]

The organised private sector has thrown its weight behind the call on the Federal Government to remove fuel subsidy. National Vice President, Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture, NACCIMA, Mr. Billy […]

The Executive Governors of more states in the Federation recently, unabashedly admitted, that, all is not well with their finances; indeed it has become, sadly evident, that civil servants in some states are owed several […]

The crash in crude oil price is usually identified as the major contributor to the prevailing parlous state of our economy; clearly, the drop in oil prices from over $120/barrel to a more humble price […]

REUTERS:Nigerian authorities have launched an investigation to determine whether the government has been short-changed by a state oil company scheme to swap crude for refined products, the company, three oil traders and a security source […]

Nigerians this morning heaved sighs of relief and expressed happiness at the news that the Port Harcourt Refining Company Limited in Rivers State, southern Nigeria, would commence operation two weeks from now. The announcement was […]

  About N400 billion bad debt outstanding in the banking sector is causing panic in the industry and most of the debtors are individuals who have the capacity to pay but have refused to do […]