Nigeria In ‘Oil Recession’ As Sector Falls 2 Quarters In A Row
Nigeria, Africa’s largest economy is experiencing an oil and gas recession after the sector posted growth for two quarters in a row in 2014. The current value of ‘crude petroleum and natural gas’ output fell by 15% and 18% in Q3 and Q4 2014 respectively, according to full year GDP figures released.
Lawyers Without Borders Condemn Lagos’ Stance On Death Penalty
Advocacy group and rights activists, Advocats Sans Frontieres France also known as ‘Lawyers without Borders’ have reacted to the decision of the Lagos state government to retain the death penalty in its laws as a most unwelcome development.
Profit-taking May Moderate Stocks’ Gains
Ahead of full-year 2014 earnings releases by listed companies, Nigerian stock market recently witnessed impressive increase on the buy-side at the Nigerian Stock Exchange (NSE). Investors are increasingly buying stocks to position themselves for capital appreciation and dividend income as well as bonuses.
Foreign, Domestic Investors Record Lower Deals At Nigerian Bourse
In January 2015, Foreign Portfolio Investment (FPI) transactions at the Nigerian Stock Exchange (NSE) declined by 20.39 % from December 2014 level of N124.50billion. FPI transactions at the beginning of 2015 stood at N99.11billion. In January 2014, it was N89.67 billion. Also, Total domestic transaction dropped from December 2014 level of N133.58 billion
Non-oil sector still Nigeria’s main growth driver – NBS
The non-oil sector of the Nigerian economy is still the main driver of the country’s real Gross Domestic Product (GDP) growth in 2014, data available on the National Bureau of Statistics (NBS) website have shown.
NNPC Commits To Promotion Of In-country Capacity
The Nigerian National Petroleum Corporation (NNPC) has reiterated its commitment to continue to promote in-country capacity by leveraging on indigenous companies with requisite technology to add value to the oil and gas industry in Nigeria.
Shoprite Posts Slightly Faster H1 Profit Growth
Africa’s biggest grocer Shoprite posted slightly faster first-half profit growth on Tuesday, as debt-laden consumers took advantage of lower fuel prices and a price war between supermarket chains.
Medview Airline Boosts Fleet With B737 Aircraft
As part of its expansion programme, Medview yesterday took delivery of another B737 aircraft, bringing the number to four. Speaking after taking custody of the aircraft at MMMA2, Ikeja, Muneer Bankole, the airline managing director/ CEO; said the aircraft will be dedicated to the Lagos-Abuja-Yola route.
Naira Stabilizes On Back Of CBN’s Forex Policy
There has been some level of stability in the foreign exchange market as the nation’s currency, the naira, traded between N199 and N200 after the closure of the Retail Dutch Auction System (RDAS) window by the Central Bank of Nigeria (CBN).
Abia I s A Failed State – Dr. Alex Otti
Dr. Alex Otti, the governorship candidate of the All Progressive Grand Alliance (APGA) in Abia State says that Abia State is a failed state and virtually all the infrastructure have collapsed under Governore Theodore Orji’s administration. Otti, the immediate past Group Managing Director/ Chief Executive Officer of Diamond Bank Plc claimed that there are lots of rot in Orji’s government saying the state is heavily indebted and in dire need of assistance.
APC, PDP Set For Showdown As Buhari Speaks At Chatham House
The much-anticipated public appearance of the All Progressives Congress, APC Presidential Candidate, Gen (RTD) Muhammadu Buhari takes place at Chatham House today (Thursday) where the former military Head of State will speak on Prospects For Democratic Consolidation In Africa – Nigeria’s Transition.
FEC okays $400M Loan For Four APC States
The Federal Executive Council has approved a loan of about $400m for developmental projects in Lagos, Ogun, Osun and Rivers States. Also approved are nine universities, eight of which are in the South. The council also approved the sum of $1.28billion foe the commencement of the proposed Development Bank of Nigeria (DBN).
Much Ado About PVC Distribution In Ogun State
The former Resident Electoral Commisioner for Ogun State, Sam Olumekun while flagging off the distribution of Permanent Voters Card in Ogun State last year, had told journalists that the state office of the Independent National Electoral Commission (INEC) had put all machineries in motion for the distributiob of Permanent Voters Card in the state. Olumekun had out the total number of eligible voters then at 1.3million.
Attacks On OBJ, Buhari: Fayose Just Wants To Be Noticed – APC
All Progressive Congress (APC), Osun State chapter, has alleged that Ekiti State Governor, Ayodele Fayose’s attacks on APC Presidential candidate, Muhammadu Buhari, and former President Olusegun Obasanjo, was to gain recognition. Osun Stae Chairman of the party told newsmen on Wednesday in Osogbo. He also said comments by Fayose was an indication that the ruling party was afraid of defeat at the polls.
House Issues One-week Ultimatum To FG Over NNPC Audit
The House of Representatives Committee on Public Accounts, on Wednesday, issued a one-week ultimatum to the Federal government to avail the National Assembly with the full audited report carried out by Price WaterHouse Coopers on the finances of the Nigerian National Petroleum Corporation (NNPC) in respect of the alleged missing $20billion oil fund.
PDP To APC: Your Manifesto Is Deceitful, Unrealizable
The PDP yesterday described the manifesto of its main challenger in the forthcoming general election, the APC, as ghostly, deceitful and bogus; saying emphatically that it (the manifesto) is unrealizable.
Oshiomhole Accuses PDP Of Destroying Nigeria’s Economy
Governor Adams Oshiomhole of Edo State has declared that the PDP-led Federal Government has destroyed the nation’s economy. Speaking to a coalition of women from across the 18 Local Government Areas of the state, led by Chief Evelyn Igbafe, who paid him a solidarity visit on Wednesday, Oshiomhole said the PDP mismanaged the economy.
Group Scores Nigeria Low In Maternal, Child Health MDGs
Nigeria has gone off track in her efforts at meeting the Millennium Development Goals (MDGs) targets for Maternal, New-born and Child Health (MNCH) for 2015, a non-governmental organization has said. The group, Partnership for Advocacy in Child and Family Health (PACFAH) placed Nigeria’s 2015 target for MDG4 (Under-5 mortality) at 70 deaths per 1,000 live-birth; while that of Maternal Mortality Ration (MMR) was put at 250 deaths per 1000,000 live-births.
Health Workers Begin Indefinite Strike In Osun
Health workers under the aegis of the Joint Negotiation Council, Ladoke Akintola University of Technology Teaching Hospital, Osogbo Chapter have embarked on an indefinite strike. The health workers union comprises of the National Association of Nigerian Nurses and Midwives; Non Academic Staff Union, Nigerian Union of Allied Health Professionals, Medical and Health Workers Union of Nigeria and Senior Staff Association of Universities Teaching Hospitals.
Insurgency May Worsen Malnutrition Nationwide – Experts
The lingering insurgency in the country has severely impacted upon on crop production in Nigeria, placing many at risk of food insecurity, according to UNICEF. Nigeria’s food security crisis is expected to worsen, especially in the North if cogent action is not taken following displacement of farmers, increasing malnutrition and surging food prices.
Jonathan’s Men Haul Cash To UK For Anti-Buhari Rally
A protest is set for today in London against the APC Presidential candidate Gen Muhammadu Buhari at a price. The Presidency is spending thousands of dollars on the protest, which is meant to take the shime off Gen. Buhari’s lecture at the prestigious Chatham House.
Nigeria needs Gen Muhammadu Buhari at this time more than before, Mallam Nasir El Rufai said on Tuesday in London. El Rufai, who is contesting for governor in Kaduna State on the ticket of the All Progressives Congress (APC), urged Nigerians in the diaspora to take advantage of the election to move Nigeria in the right direction.
Jonathan Blasts APC
President Goodluck Jonathan on Tuesday night took a swipe at the APC saying elections are not won on the altar of propaganda.
Buhari Won’t Rule Nigeria Again – Fasehun
Founder of the OOdua People’sCongress, Dr Frederick Fasehun has said that the APC candidate in the March 28 presidential election, Muhammadu Buhari will never rule Nigeria again.
House Of Assembly Fire: PDP Alleges Plot By Elechi’s Supporters To Torch Dep Gov’s Lodge, Others
The leadership of PDP in Ebonyi yesterday alleged that desperate supporters of Governor Martin Elechi were those behind the fire which took place at the State House of Assembly complex in the early hours of Tuesday.
Military Onslaught On B’Haram Proves Jonathan’s Critics Wrong – Ex Militant Leaders
The Niger Delta Ex-Militant leaders yesterday said that the remarkable achievements made by the Nigerian Armed Forces in their present onslaught against Boko Haram in the North-East region, have proven Jonathan’s critics wrong.