Olawoyin Oladeinde

Posts by Olawoyin Oladeinde:

NNPC-Towers (1)

No plan to increase petrol price from N145 per litre, NNPC tells Nigerians

The Nigerian National Petroleum Corporation, NNPC, has said that the federal government has no plan to increase the price of petrol from N145 per litre. Ndu Ughumadu, the NNPC's spokesperson, stated this Thursday while enjoining motorists to desist from engaging in panic buying of petroleum products. The NNPC, according to…

NBS

Lagos, Ogun top list of revenue earners for first half 2016

The National Bureau of Statistics, NBS, says Lagos and Ogun states ‎were the top Internally Generated Revenue, IGR, earning states for the first half of 2016. According to the IGR report released by the NBS on Wednesday, Lagos State recorded the highest Internally Generated Revenue figure of N150.59 billion in…

CBN

Nigeria Central Bank bars banks from virtual currency transactions

The Central Bank of Nigeria, CBN, Tuesday, banned banks from all transactions in bitcoin and other virtual currencies. A circular signed by the apex bank's director, financial policy and ‎regulation department, Kelvin Amugo, stated that the move was necessitated by money laundering and terrorism financing risks inherent in operations of…

Heritage Bank

Sacked Heritage Bank workers ‘adequately compensated’ – Official

Heritage Bank has said that staff affected by the recent mass sack at the bank were "adequately compensated." Fela Ibidapo, the bank's spokesperson who stated this in a release posted on the bank's website on Tuesday, said the restructuring came after a review of the bank's staff strength and industry…

Photo credit: The Times UK

Lagos to install 13,000 CCTVs for emergency response

The Lagos State Emergency Management Agency, LASEMA, Tuesday said it would install 13,000 Closed Circuit Television cameras at major flashpoints across the state to boost its operations. According to a statement issued by Adebayo Kehinde, LASEMA's head of Public Affairs Unit, the move is part of efforts by the state…

nigerians-in-a-tight-queue-to-buy-kerosene-at-nnpc-station

Residents of Abia, Osun, Ondo paid highest price for kerosene in December – Report

Abia, Osun and Ondo states recorded the highest average prices per litre of kerosene in December 2016, the National Bureau of Statistics, NBS, has said. A report tagged the National Household Kerosene Price Watch for December 2016 stated that Abia recorded an average price of N211 per litre, while Osun…

cookign-gas

Cooking Gas: NNPC, Sahara Energy unveil steps to ensure steady supply

The Nigerian National Petroleum Corporation, NNPC, has unveiled two dedicated vessels to help provide a permanent solution to the cooking gas supply logjam in the country. The corporation said its joint venture company, West Africa Gas Limited, WAGL, in partnership with Sahara Energy, was unveiling two liquefied petroleum gas, LPG,…

ESTATE

RECESSION: Estate agents lament drop in prices of property

Estate agents have decried the drop in the price of landed property across Nigeria as a result of the economic recession plaguing the country. Some agents and developers who spoke with PREMIUM TIMES said that the property market was seriously affected by the economic downturn, leading to huge drop in…

Courtesy vanguardngr

Cooking Gas Price: NLNG discharges 13,000 tonnes to Lagos jetty

The Nigeria Liquefied Natural Gas Limited, NLNG's liquefied petroleum gas vessel has discharged 13,000 tonnes of gas to the Lagos jetty. The vessel is scheduled to return to NLNG’s facility in Bonny to reload, in an effort to ensure adequate supply and price stability in the market. Kudo Eresia-Eke, NLNG's…

Unilorin

ASUU’s Petition: Unilorin begins distribution of tablet PCs to students

The University of Ilorin has started distributing PC tablets to students of the institution who had been made to pay for the items over a year ago, PREMIUM TIMES has learnt. The exercise followed a meeting of the university management with student leaders and other stakeholders during which a time-table…

nigerians-in-a-tight-queue-to-buy-kerosene-at-nnpc-station

NNPC resumes loading of petroleum products as kerosene scarcity continues

The Nigerian National Petroleum Corporation, NNPC, says loading of petroleum products has resumed in its depots across Nigeria. Ndu Ughamadu, the corporation's spokesman, said resumption of activities at the depots followed the suspension of a strike action by the National Union of Petroleum and Natural Gas Workers, NUPENG. PREMIUM TIMES…

garri

Nigeria inflation hits 18.55%

Increase in prices of meat, bread, fish, vegetable and other products has forced Nigerian inflation rate at 18.55 percent, the National Bureau of Statistics, NBS, has said. According to a report released by the NBS Friday, the Consumer Price Index, CPI, which is used to measure inflation, increased by 18.55…

National-Bureau-of-Statistics-NBS

Global Unemployment Rate To Rise In 2017 – Report

The global unemployment rate is expected to rise from 5.7 to 5.8 per cent in 2017, a new report has said. The report put together by the International Labour Organisation ILO says the modest rise represents an increase of 3.4 million in the number of jobless people. The number of unemployed…

Minister of State for Petroleum Resources, Emmanuel Ibe Kachikwu

NNPC wants Petroleum Minister empowered to fix royalties

The Nigerian National Petroleum Corporation, NNPC, on Thursday proposed that the Minister of Petroleum Resources be empowered to set payable royalties. Bello Rabiu, NNPC Chief Operating Officer, Upstream, made the proposal in a presentation to the Joint House of Representatives Committees on the amendment of the PSC Act and an…

CBN

Nigeria’s financial system stalls economic growth – Report

Nigeria's lack of an efficient and resilient financial system is holding back inclusive and sustainable growth in the country, a new report by PricewaterCooper, PwC, has revealed. The report states that Nigeria has by far the highest percentage of its population living in poverty, and its financial system also shows…

nigerians-in-a-tight-queue-to-buy-kerosene-at-nnpc-station

Kerosene Scarcity: NNPC refineries resume kerosene, diesel production – Official

The scarcity of kerosene being witnessed across Nigeria may soon end as the Nigerian National Petroleum Corporation’s three refineries have resumed production of kerosene and diesel, an official has said. Ndu Ughamadu, NNPC's Group General Manager, Public Affairs Division, said in a statement, Wednesday, that the refineries in Kaduna, Port…

Photo credit: Jumia Travel

Minister describes luggage handling process at Lagos airport as “very problematic”

The luggage handling process at the departure hall of the Murtala Mohammed International Airport, MMIA, Lagos, has been described as "very problematic." The Minister of State, Budget and National Planning, Zainab Ahmed, said this on Tuesday during a one-day tour of the airport by officials of the Ministry of Budget…

Minister of State for Petroleum Resources, Emmanuel Ibe Kachikwu

How we will run Nigeria’s petroleum industry in 2017 – Kachikwu

The Minister of State for Petroleum, Ibe Kachikwu, says the federal government will pass the Petroleum Industry Bill and revamp the nation’s refineries in 2017. Mr. Kachikwu who made this known while highlighting the plans of the petroleum ministry for 2017, disclosed that government will dissect the nation's oil and…

Photo credit: NairaFX

Nigerian Bureau de Change operators set FX rate at N399/US$

Bureau de Change operators have agreed to set their rate at N399 to the dollar for this week, an official has said. Aminu Gwadabe, president of the Bureau de Change association, disclosed this to reporters on Tuesday. Mr. Gwadabe said the association would start publishing a weekly reference exchange rate…

Kwara State governor, Abdulfatah Ahmed

Kwara gets N3.7 billion London-Paris Club balance

The Kwara State government says it has received N3.7 billion outstanding balance of its share of the London-Paris club refund. The Senior Special Assistant to the Governor on Media and Communication, Muideen Akorede, stated this in a statement on Monday. Mr. Akorede disclosed that the Kwara State Governor, Abdulfatah Ahmed,…

Unilorin

University of Ilorin calls for abolition of fuel lanterns

The University of Ilorin has called for a stop to the use of local lanterns, especially by market women in Nigeria. The university has also undertaken to develop a safer alternative to the lamps. Gabriel Olatunji, a professor of Industrial Chemistry and deputy Vice-Chancellor (Research, Technology and Innovation) of the…

Niger-Delta-militants-new

NNPC to set up security advisory council to tackle pipeline vandalism

The Nigerian National Petroleum Corporation, NNPC, has outlined plans to tackle pipeline vandalism in the oil and gas industry. A statement released by Ndu Ughamadu, Group General Manager, Public Affairs Division, stated that the corporation plans to establish a security advisory council to bring a lasting solution to sundry security…

Kwara State governor, Abdulfatah Ahmed

We received N5 billion, not N9 billion from Paris club fund – Kwara govt

The Kwara State government said on Saturday that it has only received N5 billion as its share of the London-Paris Loan Club refund from the federal government. In a statement released by the Senior Special Assistant to the Governor on Media and Communication, Muideen Akorede, the government described reports that…

FILE PHOTO: President Muhammadu Buhari presenting the 2016 Budget to the National Assembly

Nigerian government to sell N430 billion bond in first quarter 2017

The Nigerian government plans to issue N340 billion to N430 billion of local-currency bonds during the first quarter of 2017. A debt issuance calendar posted on the website of the Debt Management Office, DMO, and obtained by PREMIUM TIMES on Saturday said the office would auction N110 billion to N140…

Minister of Finance, Kemi Adeosun

Nigeria reduces import duties on 89 items

The federal government has reduced import duties on more than 89 items in various sectors of the nation’s economy. The government said the reduction, approved by President Muhammadu Buhari, is to promote development in critical sectors of the economy, and is part of its 2016 Fiscal Policy Measures. A circular…