The Economy

$1.1bn OML 17 deal to impact FG, communities, economy ― CFO TNOG

The $1.1 billion Oil Mining License, OML 17 deal undertaken by TNOG Oil and Gas Limited, a related company of Heirs Holdings and Transcorp, would impact on the Federal Government, communities and the entire nation’s economy. Chief Finance Officer, TNOG, Samuel Nwanze, said the OML 17 has about 1.2 billion barrels of oil equivalent, additional …

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Emirates vaccinates crew members

Emirates Group has rolled out the COVID-19 vaccination programme for its substantial United Arab Emirates-based workforce in coordination with the Dubai Health Authority and the Ministry of Health and Prevention. According to a statement from the public relations firm for the carrier made available to our correspondent, the inoculation drive began on January 18th with …

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Twitter suffers loss as millions boycott WhatsApp

Millions of users of the messaging platform, WhatsApp across the globe, including Nigerians, have started exiting the platform following a new privacy policy recently announced, though to take effect from on February 8. This privacy policy, which many users of the Facebook-owned WhatsApp consider offensive, has triggered a mass exodus of subscribers to other less popular but equally-functional platforms such …

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Oil, gas stakeholders jittery as crude price rises above $50

Stakeholders have expressed fear over the steady rise in crude oil prices which hit close to $56 per barrel at the weekend, warning that this might translate to more hardship for Nigerians. The sharp rise in oil prices may not be unconnected with the decision of Saudi Arabia to cut more than one million barrels of …

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N15bn provision made for Abuja second runway – Senate

The Senate Committee on Aviation said on Sunday that N15bn had been provided in the 2021 budget for the construction of a second runway at the Abuja Airport. The Chairman of the panel, Smart Adeyemi, disclosed this in an interview with journalists on Sunday. Adeyemi said, “We have a provision for a second runway in …

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AuGF sends queries on MDAs’ finances to National Assembly

The office of the Auditor General of the Federation has presented its 2018 report to the National Assembly. The House of Representatives has also commenced consideration of the report, writing ministries, departments and agencies of the Federal Government to respond to the audit queries issued against them. Clerk to the National Assembly, Amos Ojo, in …

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Grass-cutting fraud: EFCC re-arraigns ex-SGF Lawal today

The Economic and Financial Crimes Commission will today (Monday) re-arraign a former Secretary to the Government of the Federation, Babachir Lawal, and six others, for an alleged fraudulent N544m grass-cutting contract, The PUNCH has learnt. This will be the second re-arraignment of the defendants, who were first arraigned before the late Justice Jude Okeke of …

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