Friday, 3 June 2016

Govt Stop Banks from Retrenchment as Conflicting Figures over Nigeria's Oil Production

Latest from the Economic Confidential, the factual, authoritative and accessible economic magazine
 
FG Stops Banks from Retrenchment of Workers
The Federal Government has directed banks, insurance and financial institutions to stop the on-going retrenchment in the sector and await further directive from the government.
 
NAF Deploys Additional Aircraft to Niger Delta
The Nigerian Air Force (NAF) has deployed additional aircraft to the Niger Delta in support of the military operations code named "OPERATION PULO SHIELD" against militancy, economic saboteurs.

Conflicting Figures on Nigeria's Oil Output... 800mbpd or 1.6mbpd
There are conflicting figures over the current Nigeria's oil production after the destruction of oil pipelines as Niger Delta militant group claims it is now 800,000 barrel-per-day while the Ministry of Petroleum insists the production is now 1.6m bpd after some repairs.
 
Militants Attack More Oil Pipelines In Bayelsa
Niger Delta militants on Thursday blew up two extra oil pipelines in Bayelsa State, threatening to bring oil production in the country to a halt.
 
NIMASA: EFCC Arraigns Serving Army General, Others For N8.5bn Fraud
A former Commander of Guards Brigade and erstwhile Commander of the Joint Military Task Force, OPERATION PULO SHIELD, Major General Emmanuel Atewe has been arraigned by EFCC on corruption:
 
Read: Cooking Gas Price Rises By 45%, Marketers Lament
The price of Liquefied Petroleum Gas, popularly known as cooking gas, has jumped by 45 per cent in less than a week amid scarcity of the product.
 
Foreign Airlines Lose Nigeria's High Yield Market to Economic Downturn
Investigations have revealed that foreign airlines lose about $200 million monthly to the present economic crunch in Nigeria, which has forced potential travellers to defer their trips due to lack of disposable income.
 
FG, States Spend 8% Of Budgets On Education
The federal and state governments will spend less than 9 percent of their total budgets of N12.2 trillion on education this year, despite their publicised commitment towards the sector.
 
TUC To Acquire 57% Stake In Unity Bank
The Trade Union Congress (TUC) is to acquire 57 percent stake in the Unity Bank. This is to ensure the welfare of its members and to reposition the union, its President, Bobboi Bala Kaigama has said.
 
FG Orders Banks To Stop Retrenchment
The Federal Government has directed banks, insurance and financial institutions to stop the on-going retrenchment in the sector.
 
FG Scraps Post-UTME Over Admission Irregularities
Government may soon direct universities and other tertiary institutions conducting post-Unified Tertiary Matriculation Examinations (UTME) for admission seeking candidates to stop.
 
TUC Plans $1bn Economic Development Fund
The Trade Union Congress (TUC), says it has set up one billion dollar Economic Development Fund for the actualisation of its Economic Development Plan.
 
Darkness Looms As Militant Attacks Cut Power
Unless President Buhari can subdue militants attacking gas facilities that supply the nation's power plants, his plans to remedy an electricity shortage he called a "national shame" in his inauguration speech a year ago will be stillborn.
 
Senate Summons NEITI Boss Over Unremitted N1tn Revenue
The Senate has summoned the Executive Secretary of the Nigeria Extractive Industry Transparency Initiative, Mr. Waziri Adio, to appear before it in plenary and explain the details of the agency's 2013 report.
 
Low Oil Price Remains As OPEC Shuns Output Cut
The price of oil may remain low for the rest of the year as the Organisation of Petroleum Exporting Countries (OPEC) failed to agree on crude oil output cut at its 169th meeting held in Vienna, Austria.
 
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