Wednesday, 4 May 2016

TSA Hits N3trn, Lagos Join Oil-States as NNPC Explores Oil in Chad Basin

Latest from the Economic Confidential, the factual, authoritative and accessible economic magazine
 
Savings in TSA hits N3trn – AGF
The total inflow into the Treasury Single Account (TSA) was N3 trillion ($15 billion) as at March ending while the number of Ministries, Departments and Agencies on single account has risen to 976, the Accountant General of the Federation (AGF), Alhaji Ahmed Idris, has said.
 
Lagos joins oil-producing states as Aje field begins production
Twenty years after it was discovered, the Aje field located in Oil Mining Lease 113 has achieved its first oil, putting Lagos on the list of oil-producing states in the country.
 
Exploration in Chad Basin Top Priority- Kachikwu
The Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC) Dr.Ibe Kachikwu says the commitment of the Federal Government and the NNPC to explore for oil and gas in the inland basins especially Chad Basin and the Benue Trough in Northern Nigeria is unwavering and is on the front burner.
 
Nigeria's external reserves fall by $753m
Nigeria's external reserves diminished by a total of $753 million to close at $27.123 billion as at April 28th, compared with the $27.859 billion it was as at April 1.
 
IMF forecasts low growth for Nigeria
The International Monetary Fund (IMF) in a report released on Monday stated that the growth forecast for this year, represents the lowest for the region in the past 15 years.
 
30-day fuel imports can build 15 modular refineries — Don
A university don has argued that the cost of importing petroleum products for 30 days is capable of building up to 15 modular refineries in the country, even as he urged the federal government to tap from the technology of illegal refineries instead of destroying them.
 
Fed Govt subsidises petrol with N12.88 per litre
The Federal Government has said it would pay subsidy on petrol from the recoveries made in the first quarter of this year.
 
Pension fund: 'Only N5.3trn, not N20trn contributed by employees'
Ten years after the introduction of the contributory pension scheme in Nigeria, only 6.9 million Nigerians out of over 170 population have keyed into the scheme.
 
Nigeria can generate N5tn annually from Mining-Fayemi
The Minister of Solid Minerals Development, Dr. Kayode Fayemi, has said that Nigeria can generate about N5tn annually if it opens up the sector.
 
FG to generate 7,000mw of electricity next year
As Nigerians continue to experience epileptic power supply, Vice President Yemi Osinbajo has given the assurance that in the next one and a half years, Nigeria will be able to generate 7,000 megawatts of electricity.
 
General Buratai: An Encounter with Soldiers' Soldier
After his words, I realise that there is an urgent need for a thorough, independent and unbiased investigation on Zaria carnage to unravel the mystery behind the sad incident.
 
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