Economy

More Nigerians will probably consider widespread insecurity, unstable power supply and our faltering economy as the three most critical challenges for which President Muhamadu Buhari would have to urgently find sustainable solutions. Nonetheless, some critics […]

“Subsidy: FG withdraws N395bn from Excess Crude Account.” Everest Amaefule, PUNCH, May 24, 2015, p 6. Somebody should hang for this if it occurred in China or Yew’ Singapore. But, since this is Nigeria, somebody […]

Is the oil price recovering? It is indeed up by nearly 40% from its low in March. But this is mostly for short-term reasons, such as worries about upheavals in the Middle East. Demand in […]

It is no surprise that a few days after the Federal Ministry of Finance published the details of what the Federal and State governments received from the Excess Crude Account over the past four years, […]

AS  the country transits from one democratic dispensation to another, there is no gainsaying that the state of the nation’s economy is the focal point, especially with the unending fuel scarcity which is gradually grinding […]

Capital Oil and Gas Limited yesterday began loading of over 13 million litres of petrol from its depot in Apapa to various states to cushion the effect of the lingering scarcity. Managing Director/CEO Patrick Ifeanyi […]

•Calls N159bn subsidy payment claim fraudulent The federal government is spoiling for a fresh showdown with oil importers over subsidy payment. This is coming as there is no end in sight yet for the current face off between the two sides that […]

“All illusions by definition insulate people from reality, but, when that reality is harsher than the individual is built to endure, a bit of self-deception is neither harmful nor unnecessary.” (VANGUAD BOOK OF QUOTATIONS p […]

Shortly after SaharaReporters posted the link on its Facebook page, the petition swiftly garnered a lot of signature nearly meeting its goal of 2000 signatures. The petitioner has increased the signature request to 2,500 as […]

THE grim picture of the economy was yesterday laid bare in Abuja by Vice-President-elect Yemi Osinbajo. He said: •110million Nigerians are feeling the pangs of poverty; •a $60b debt is to be inherited by the […]

Recently Nigeria’s Central Bank’s Governor, completely unprompted, proffered a solution to Nigeria’s current fiscal crisis. Sell off part of Nigerian’s shares in our joint venture oil fields, he said. This would reap trillions for the […]

•Would it require this stalemate and a near shutdown of the economy to resolve this so-called subsidy conundrum? It is a veritable sign of a near-failed state that the ‘subsidy’ riddle has been with Nigeria […]

The lingering fuel  crisis may continue till the May 29 handover date to Gen. Muhammadu Buhari government, as oil marketers have resorted to hoarding the product to force government to pay the outstanding debts as […]

Major oil marketers and depot petroleum products marketers on Thursday said that the current fuel scarcity in the country might persist beyond May 29, if the Federal Government failed to pay their outstanding claims on […]

Latest data released by the Central Bank of Nigeria (CBN) revealed that the banking sector lost over N3.04 billion in 2014 to electronic fraud. The apex bank’s Financial Stability Report (FSR) for December 2014, posted […]

The recurrent fuel scarcity being witnessed in many parts of the country, particularly in Lagos and Abuja, continued yesterday, showing no signs of easing up, while respite seems not in sight for motorists and residents. […]

With about 20 plus days to the much-awaited inauguration of Buhari and Osinbajo respectively as President and Vice-President of the Federal Republic of Nigeria, given the current realities of Nigeria’s economy, there is growing debate […]

Media reports, lately, suggested that the approval for the 2015 Appropriation Bill, which was seemingly rushed through the National Assembly, in the last week of April, did not contain any provision for the payment of […]

Following the refusal by oil marketers to import fuel into Nigeria, petrol station owners seems to be cashing in on the situation on ground with petrol selling for as high as N300 per litre in […]

Nigeria’s Minister of Finance, Ngozi Okonjo-Iweala, has distanced herself from the audit firm, PriceWatersHouseCoopers, saying she should not be held responsible for its hiring to probe Nigeria’s alleged missing oil money, days after a widely-discredited […]