Friday, 29 April 2016

Again Govs Beg PMB on ECA as Refineries Commence Productions

Latest from the Economic Confidential, the factual, authoritative and accessible economic magazine


 
Compensation: NAIC Pays N1.3bn to Farmers
In this Interview with the Economic Confidential the CEO of Nigeria Agricultural Insurance Corporation (NAIC), Bashir Binji explains how Nigerian farmers have benefitted and can benefit from the insurance scheme of the agency...
 
Port Harcourt, Warri refineries producing 7m litres/per day of PMS –Kachikwu
The Nigerian National Petroleum Corporation, has stated that the newly re-opened Port Harcourt and Warri refineries are now producing seven million litres of Premium Motor Spirit, PMS, also known as petrol per day.
 
Fuel scarcity: KRPC begins 2m litres daily supply of PMS
Alhaji Idi Mukhtar, Managing Director, Kaduna Refining and Petrochemical Company (KRPC), has disclosed that the company will begin daily release of 2 million litres of Premium Motor Spirit (PMS).
 
Govs Beg Buhari on Excess Crude Account
The 36 state governors have told President Muhammadu Buhari to approve the sharing of funds in the Excess Crude Account among the three tiers of government in order to improve the liquidity position of the states.
 
NASC launches $800,000 Rice Seed Up-Scaling Project
The Director-General, National Agricultural Seed Council (NASC), Mr Olusegun Ojo,  said the launching of 800,000 US dollar Rice Seed Up-Scaling Project would boost local production of rice in the country.
 
FG to Save N1bn Annually from Board Meetings
……Cuts Board meetings from 8 to 4 per annum
The reduction in the frequency of meetings by such bodies followed a review by the Unit and the discovery that the average annual expenditure on honorarium and sitting allowances between 2012 and 2014 was N12.8 billion.
 
World Bank Raises 2016 Oil Price Forecast
The crude oil market rebounded from a low of $25 per barrel in mid-January to $40 per barrel in April following production disruptions in Iraq and Nigeria and a decline in non-Organization of the Petroleum Exporting Countries production, mainly U.S. shale. A proposed production freeze by major producers failed to materialize at a meeting in mid-April.
 
First Bank to sack 1,000 workers
FBN Holdings Plc, the parent company of First Bank Nigeria Limited, is planning to cut about 1000 jobs and focus less on providing loans to the oil industry in a bid to reverse the 2015 financial year's 82 per cent slump in profit.
 
FG receives $33b from NLNG
The Federal Government has reaped over $33 billion from the Nigeria LNG Limited (NLNG) initial investment of $2.5 billion.
 
2016 Tourism, Culture Summit: Experts give tips for development
Mr Bertram Azuwike, the Director of Macro-economy and Statistics Department of National Bureau of Statistic (NBS) said there was need to develop a data bank for the culture and tourism industry.
 
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