ayodejiadegboyega

Posts by ayodejiadegboyega:

Oil Barrels used to illustrate the story. [Photo credit: ThePointNG]

Oil prices: OPEC postpones emergency meeting

The Organisation of the Petroleum Exporting Countries has postponed its emergency meeting scheduled for Monday to discuss oil production output. The meeting was moved to Thursday. The delay is said to be as a result of a fresh disagreement between Russia and Saudi Arabia, with the two countries trading blames…

Coronavirus: Groups provide relief material for vulnerable Nigerians

More groups have donated food, relief materials to vulnerable Nigerians in recent times to help curb the spread of the coronavirus disease. Since President Muhammadu Buhari called for support in the fight against the spread of the deadly disease in the country, many Nigerians have responded and contributed to the…

NNPC petrol station used to tell the story.

New Fuel Price: NNPC seeks smooth movement of petroleum tankers nationwide

The Nigerian National Petroleum Corporation (NNPC) has called on security agencies to allow petroleum products tanker drivers move freely, despite the lockdown ordered by President Muhammadu Buhari in some parts of the country. The federal government had earlier approved the reduction of the pump price of petrol to N125 from…

A NIPCO filling station used to illustrate the story on authentic data

Nigeria reduces fuel price to N123.50 per litre

The Petroleum Products Pricing and Regulatory Agency has reduced the pump price of petrol to N123.50 per litre from the current price of N125. This comes about a fortnight after the agency reduced the pump price to N125 from N145. The reduction is based on the reduced landing cost of…

Lai Mohammed (Photo Credit: Daily Trust)

Coronavirus: Journalists need ID cards to move around during lockdown – Minister.

All journalists on duty in Lagos and Ogun states, as well as the Federal Capital Territory (FCT), are to use their valid identity cards when moving around during the 14-day lockdown ordered by President Muhammadu Buhari, the Minister of Information and Culture, Lai Mohammed, has advised. Mr Buhari, on Sunday,…

President Muhammadu Buhari presides over Valedictory Meeting of the Federal Executive Council (FEC) today at the State House, Abuja

Coronavirus: Ministers Donate Half Of Their Salaries To Support Govt Efforts

43 ministers in President Muhammadu Buhari's cabinet have announced they would donate half of their March 2020 salaries to support the Federal Government's efforts to combat the Coronavirus (COVID-19) pandemic in the country. The Minister of State for Transportation, Gbemisola Saraki, coordinated the donation, according to a statement signed by…

Nigeria’s Information minister, Lai Mohammed said Nigerians not cooperating over measures to stop the Coronavirus spread

Coronavirus: Nigerians not cooperating over measures to stop COVID-19 spread – Lai Mohammed

The federal government is not getting the kind of cooperation it deserves from Nigerians, the Minister for Information, Lai Mohammed, has said. Mr. Mohammed said many Nigerians are busy with "meaningless" criticisms instead of complying with the stipulated directives to keep people safe. The minister said this on Thursday at…

Sellers and buyers at Wuse market

Coronavirus: Panic buying begins in Abuja, Lagos markets

Markets in Lagos and the Federal Capital Territory, Abuja and environs have closed in response to the government's stay-at-home order while panic buying is intensifying. Although the stay-at-home orders differ from state to state, PREMIUM TIMES' visits to some markets and supermarkets in Abuja and Lagos on Wednesday showed some…

Ecobank

Bank shuts down Abuja branch after customer dies of coronavirus

Ecobank Plc has temporarily closed its Wuse II Abuja branch. The bank said it took the decision after the death of one of its customers who happened to be the first death case from coronavirus in Nigeria. According to a statement by the bank, the deceased visited the branch on…

Oil rig used to illustrate the story.

Coronavirus: Low crude oil prices may force Nigeria to abandon production

Nigeria may soon slip out of reckoning as a profitable oil producer in the Organisation of Petroleum Exporting Countries (OPEC) if crude oil prices decline further by at least another $3. On Monday, the ravaging impact of the deadly coronavirus pandemic worsened, driving crude oil prices at the international oil…

Coronavirus: Stay at home, Nigerian govt advises Lagos, Abuja residents

The federal government has 'strongly advised' residents of Lagos and Abuja to stay indoors as coronavirus (COVID-19) spreads. The Secretary to the Government of the Federation, Boss Mustapha, announced the stance of the federal government at a press briefing in Abuja. "All Abuja and Lagos residents are strongly advised to…

President Muhammadu Buhari [Photo: © Presidency]

#Coronavirus: Buhari cancels meeting, threatens leaders flouting safety directives

President Muhammadu Buhari has cancelled the meeting of the heads of state of the Chad Basin Commission scheduled for next week, as a safety measure to stop the spread of the Coronavirus. The Minister of Information and Culture, Lai Mohammed, disclosed this at a media briefing in Abuja, on Monday.…

Lai Mohammed is unable to provide any document on a coup plot

Expect tougher directives to tackle coronavirus, FG tells Nigerians

Nigeria is hoping for the best in its efforts to contain the coronavirus pandemic, but it is also prepared for the worst, the Minister of Information, Lai Mohammed, has said. The minister also urged Nigerians to be prepared for tougher directives that the government may put in place to tackle…

Naira notes used to illustrate market trading

Central Bank devalues Naira; restores uniform exchange rate

The much-vaunted devaluation of the Naira came into force on Friday despite the denial by the Central Bank of Nigeria (CBN) last week that same was not on the cards. The apex bank on Friday sold dollars to deposit money banks at the rate of N380 to one dollar signaling…

Central Bank of Nigeria (CBN)

Dollar now N380 as CBN adopts uniform exchange rate

The Central Bank of Nigeria has collapsed the multiple exchange rate policy that determined the value of the naira and adopted a single exchange rate. The country will now have a uniform rate for the official rate, bureau de change operators, importers and exporters amongst others. This was contained in…

A fuel pump used to illustrate story

Buhari orders reduction in fuel price

President Muhammadu Buhari has ordered a reduction in the pump price of petrol, an official has said. The Minister of State for Petroleum, Timipre Sylva, announced this in a statement. Mr Buhai did not, however, fix a new price of petrol but only asked the appropriate agency, PPPRA, to do…

Atiku Abubakar (Photo Credit: Channels TV)

Coronavirus: Atiku calls for fuel price reduction, stamp duty suspension

An opposition leader, Atiku Abubakar, has called for a reduction in fuel price to help Nigerians cope with the impact of the coronavirus on the economy. Mr Abubakar also called for the suspension of stamp duty charges collected on electronic money transfers. The former presidential candidate stated this in a…

Power Lines [Photo: energymixreport.com]

Togo, Niger, Benin owing Nigeria N30bn for electricity – Commission

Togo, Niger and Benin Republic owe Nigeria a total of N29.97 billion for the electricity supplied to them from January to September 2019, the Nigerian Electricity Regulatory Commission had said. Through its electricity transmission company, Nigeria supplies power to these countries, which are classified as international customers in the Nigerian…

NIPCO filling station

Why Nigeria’s fuel pump price is stable despite global glut – Experts

Some experts on Saturday explained why Nigerians are not experiencing a reduction in the pump price of fuel despite the downturn in the global price market for crude oil. The landing cost of Premium Motor Spirit (PMS) on Tuesday dropped from N115.52 it reflected on Friday to N96.85 but oil…

Zainab Ahmed

N280bn released so far for capital projects in 2020 — Nigerian govt

The Nigerian government on Friday said it has so far released N285 billion to some Ministries, Departments, and Agencies (MDAs) of government for the implementation of capital projects contained in the nation's 2020 budget. The Minister of Finance, Zainab Ahmed, gave the figure while speaking with State House correspondents. The…

Dangote Refinery

Dangote to produce 20,000 bpd oil from July – Official

Africa’s richest man, Aliko Dangote, will begin production of oil from two assets he snapped up from Royal Dutch Shell Plc in July, adding a new source of income to a fast-expanding business empire. In an interview with Bloomberg, the group executive director at Dangote Industries Ltd, Devakumar Edwin, said…

OPEC

Saudi Arabia officially declares oil price war, Russia follows

Saudi Arabia, on Tuesday, officially made public its plans to unilaterally increase oil output next month, as its state-owned company pledged to supply a record 12.3 million barrels a day, more than 25 percent higher than last month’s production. Reliable sources had earlier told Bloomberg of the planned move of…

Minister of Finance Budget and National Planning, Zainab Ahmed

Buhari sets up committee ‘to assess impact of coronavirus on 2020 budget’

President Muhammadu Buhari on Monday set up a committee to access the impact of the coronavirus epidemic on Nigeria’s 2020 budget and the economy in general. The committee’s responsibility will be to check how the dwindling price of crude oil caused by the outbreak will affect the country’s economy. The…

Jumia

Coronavirus: Jumia delists 390 products over price hike

Jumia Nigeria has delisted 390 products belonging to 168 sellers of hand sanitisers and face masks from its platform. The development followed a warning by FCCPC to sellers against price gouging and arbitrary increases in prices of protective and hygiene products in the wake of the recent outbreak of coronavirus.…

President Muhammadu Buhari

Coronavirus: Nigeria faces revenue crisis as oil price crashes

Barely hours after the world’s top oil exporter, Saudi Arabia, began a global oil fight, Brent crude oil crashed by about 30 per cent, sending Nigeria into a revenue crisis. According to details on oil data site, Brent crude sold at $35.42 Monday morning. In December 2019, President Muhammadu Buhari…