Yoruba Leaders Calls For Restructuring Of Nigeria

Prominent Yoruba leaders yesterday called on President Muhammadu Buhari to urgently consider restructuring of the country as a way out of its lingering national crisis.
The leaders also urged the president to roll out a comprehensive economic plan to rebuild the country infrastructure, reflate the economy,create massive jobs and raise the standard of education in the country.

Lawmakers confirm Odukale as Lagos Trust Fund board chairman

Lawmakers in the Lagos State House of Assembly yesterday, confirmed the nomination of Mr. Oye Hassan Odukale as chairman of the Board of Lagos State Security Trust Fund, LSSTF.
In his response during the confirmation exercise,  Odukale said, he was surprised that Governor Akinwunmi Ambode nominated him for the post.

Fed Govt plans 2,000mw in 15 months, says Fashola

The Federal Government plans to generate 2,000 megawatts within the next 15 months to boost electricity supply, it was announced yesterday.
The Lagos-Ibadan Expressway and the Second Niger Bridge linking the West to the East will get priority attention in next year’s budget, which will allocate more cash to infrastructure provision.

Conor McGregor: "Mayweather would not last a minute with me...I would love to fight him"

Conor McGregor doesn't walk into the hotel lobby. He struts, head back, pecs forward, buttoned-up skintight T-shirt fit to burst with a triangular upper body that tells the tale of thousands of hours of training and fighting. He is with his long-term girlfriend, Dee Devlin, and they strut towards me together, both smiling. We are in his native Dublin, where McGregor, a former plumber, has become one of its most famous sons since rising quickly through the ranks of the Mixed Martial Arts "Premier League", UFC. With his fighting skills and fighting talk, this 27-year-old has become one of its biggest stars, about to sign, he tells me, the largest fighter's contract in the sport's history.

Rate rise belies frailties in US economy

Expectations are carved in stone that the US Federal Reserve will shift borrowing costs higher next week with the central bank’s policy shift seen in some quarters as justifying optimism over the economy.

FG Set To Split NNPC Into Two Companies…

The federal government is breaking up the controversial Petroleum Industry Bill (PIB) into different versions with a law to overhaul the petroleum sector which aims at closing loopholes that bred corruption, according to a draft seen by Reuters.

Cost of retaining Fuel subsidy higher than benefits- World Bank

The World Bank Group says the costs of maintaining the Nigeria’s fuel subsidy is higher than the benefits.
It noted that the fiscal cost of the subsidy to the country was $35 billion from 2011-2014 and is expected to cost another 18 per cent of total oil revenues accrued to the country, equivalent to 25 per cent of federal budget in 2015.

2016 Budget: Buhari scraps kerosene subsidy, allocates N500bn for school feeding

PRESIDENT Muhammadu Buhari may have tacitly scrapped kerosene subsidy in the country as he made no allocation for it in the Medium Term Expenditure Framework, MTEF, and Fiscal Strategy Paper, FSP, which he presented to the National Assembly,Tuesday.

1.5 m residents want alternative routes ahead of Shoprite operations

 Over 1.5 million residents of the 10 estates around Jakande Roundabout in Lekki, Lagos State, weekend called on RMB West Port, owners of Shoprite, to provide them alternative routes before it opened its mall on Dec. 17.

Opec discord fuels further oil price drop

As oil ministers rushed out of Opec’s headquarters in Vienna late last week, the cartel’s secretary-general proclaimed the group’s future “to be as strong as ever”.

But the expressions etched on to the faces of delegates after a tense seven-hour meeting suggested anything but and captured the disagreement between members of an organisation that controls 40 per cent of global oil production. 

Equities appreciate by 0.73%

 

The Nigerian Stock Exchange All Share Index (NSE ASI) and the Market Capitalization appreciated by 0.73%, at today's trading with the All Share Index closing at 27,833.89 points against the previous close of 27,631.05 points while Market Capitalization closed at N9,569.91 trillion against previous close of N9,500.18 trillion.

Minimum wage debacle

The kite flown by state governors on their inability to pay the national minimum wage may soon snowball into an unprecedented labour crisis. A fortnight ago, the governors had after their meeting, announced they could no longer pay the N18, 000 minimum wage regime that has been in force since 2011. They called for a downward review or alternatively they will have to reduce their workforce.

Global economic changes, accountability drive high demand for data – Kale

National Bureau of Statistics, NBS, has recorded an explosion in the demand for data and statistical information both from international and local interests. Key data request indicators at the NBS show that in 2005, just under 50,000 reports were downloaded from the NBS website compared to over three million in 2014, just as requests for data by walk-in users which was 23 in 2005 rose to 1,817 in 2014.

Airtel Plans Dubai Trip For 240 Customers

The Chief Commercial Officer, Airtel Nigeria, Mr Ahmed Mokhles, has said that 240 Nigerians will win an amazing Emirates holiday in Dubai.

Nigerian staff sue Virgin Atlantic Airways for N5bn

The 20 Nigerian cabin crew members recently laid off by Virgin Atlantic Airways Ltd, have instituted a N5billion suit against the Airline before the National Industrial Court sitting in Lagos.
Aviation Logistics and Management Ltd is also a defendant in the suit.

Transcorp Hotels Issues N9.758bn Bond

Transcorp Hotels Plc – the hospitality subsidiary of Transnational Corporation of Nigeria Plc (Transcorp Plc) has announced a successful naira bond market transaction, issuing a total of N9.758 billion.
It is the second tranche in its N30 billion medium term bond programme registered with the Securities and Exchange Commission (SEC).

We didn’t approve 35% slash on MTN’s $5.2bn fine —NCC

As controversies trail the imposi­tion of $5.2 billion fine on MTN Nigeria over regulatory infractions remain unabated, the Ni­gerian Communications Commission, NCC, at the weekend added a new twist to the debate, say­ing it only approved 25 per cent and not 35 per cent re­duction of the fine.
Public Affairs Director of the commission, Mr. Tony Ojobo, who stated this on Friday in an interview with journalists in Lagos, put what the telcom firm is ex­pected to pay federal govern­ment at N780 billion.

Our staff Involved in N310m robbery – DSS

The Department of State Services (DSS) said it has arrested two out of five of its staff members for their alleged involvement in a N310 million robbery, a statement said in Abuja on Sunday.
The statement, issued by an operative of the service, Mr Tonu Opuiyo, said that the money belonged to a Bureau De Change operator in Abuja.