Friday, 13 May 2016

As FG injects N350bn into Economy, US Dollar Now N341 in Blackmarket


Latest from the Economic Confidential, the factual, authoritative and accessible economic magazine
 
Capital Projects: FG injects N350bn Into Economy
The Federal Government  is ready to implement the 2016 budget as it started injecting of the N350bn earmarked for capital projects as contained in the budget today.
 
Fuel Price Hike: Naira in Free Fall Against Dollar, Now N341
The Naira fell to 341 against the United States dollar at the parallel market on Thursday (May 12, 2016) from 321 following Wednesday's removal of subsidy on petrol and the announcement of N145 per litre as the maximum pump price.
 
Niger Delta Militants Give Oil Firms 2 Weeks To Shut Down
The Niger Delta Avengers, the new face of violent agitations in the region has issued a two-week ultimatum to owners and operators of oil blocs in the area to shut down their business operations and evacuate all their staff or face a 'bloody' attack.
 
61.3 % of Nigerians Are Poor- UNDP
An estimated 61.3 percent of Nigerians are classified as poor with 48.8 percent of them classified as dimensionally poor, so says the Human Development Report(HDR) just released by the United Nations Development Programme(UNDP) in Abuja.
 
N386bn Looted Funds to Finance Budget Deficit
Minister of National Planning, Senator Udoma Udo Udoma has said that N386 billion recovered looted funds would form part of resources to finance the 2016 budget deficit.
 
Subsidy Removal: Tinubu Backs Buhari, Falana Condemns Price Hike
A former Lagos State Governor and National Leader of the All Progressives Congress, Asiwaju Bola Tinubu, has described the decision of the President Buhari-led Federal Government to remove petrol subsidy as courageous.
 
NLC, others meet over new fuel price today
But in its first reaction a few hours after the announcement, labour described the hike as as insensitive, saying it would call out its members as well as labour affiliates for a protest.
 
Finance Minister Orders Probe of Military Payrolls
The Minister of Finance, Mrs. Kemi Adeosun, has directed an investigation into the payrolls of the Army, Air Force and Navy by the Continuous Audit Team in order to avoid diversion of monthly salaries of the personnel.
 
Nigeria plans 2 New Satellites To Improve Business, Connectivity
Nigeria would soon launch two additional satellites to space to improve local communication capacity accodrding the government sources.
 
Nigeria Loses 400,000bpd as Shell Declares Force Majeure
With the declaration of force majeure on Bonny Light exports by Shell Petroleum Development Company of Nigeria Limited, about 400,000 barrels per day of Nigeria's production has now been shut in.
 
5 Million Nigerians Mining Illegally
The Minister of Solid Mineral Resources, Dr Kayode Fayemi, has said that over five million Nigerians are involved in informal mining.
 
CIBN accredits FCMB's Training Academy
The First City Monument Bank's Training Academy has been certified and granted full accreditation status by the Chartered Institute of Bankers of Nigeria (CIBN). T
 
FRSC Moves To Impound Vehicles With Expired Tyres
Corps Marshal of the Federal Road Safety Commission (FRSC), Mr Boboye Oyeyemi, said the commission would soon commence impounding of vehicles with expired tyres across the country.
 
Unilever Shareholders Approve N189.2m Dividend Payout
Unilever Nigeria Plc has declared a dividend of N189.2m following its approval by the company's shareholders at the 91st Annual General Meeting held in Lagos.
 
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