1. Why Nigeria is poor despite potential – Mamora
The Minister of Science, Technology and Innovation, Adeleke Mamora, has given reasons why Nigeria remains a poor country despite being blessed.. Read more
Source: https://punchng.com/why-nigeria-is-poor-despite-potential-mamora/?amp
2. Nigeria Produces 115m Barrels, 75% of Budget Benchmark in Q1 Amid Struggling Oil Output
Amid Nigeria’s crude oil production struggle, the country managed to drill 115 million barrels of the commodity in the first quarter of 2023, a THISDAY review of industry data has shown… Read more
3. Subsidy removal will spur investment, tackle rising debt — LCCI
The Lagos Chamber of Commerce and Industry says the Federal Government’s planned petrol subsidy removal remains one of the best economic decisions that will reduce Nigeria’s debts and tackle widespread corruption in the oil sector… Read more
Source: https://punchng.com/subsidy-removal-will-spur-investment-tackle-rising-debt-lcci/?amp
4. Nigerians pay N828bn for electricity in 2022
The National Bureau of Statistics (NBS) has disclosed that Nigerians including companies, and government agencies paid a total of N828 billion for electricity in 2022… Read more
Source: https://www.ripplesnigeria.com/nigerians-pay-n828bn-for-electricity-in-2022/?amp
5. Nigeria’s crude oil output to drop as Exxon Mobil declares force majeure
The recent increase in oil production is set to be significantly hit as Exxon Mobil has declared force majeure on oil lifting from different terminals in the country… Read more
6. AMCON takes over Glano Nig Limited‘s property, to seize cash, others
Glano Nigeria Limited has lost its assets to Asset Management Corporation of Nigeria (AMCON) over a N2.4 billion debt owed since 2016… Read more
7. IKEDC generates highest revenue in Q3, Q4 2022 -NBS
The National Bureau of Statistics has disclosed that the Ikeja Electricity Distribution Company had the highest electricity revenue for the third and fourth quarters of 2022… Read more
Source: https://punchng.com/ikedc-generates-highest-revenue-in-q3-q4-2022-nbs/?amp
8. NRC services debt with N111bn, generates N12bn – Report
The Federal Government has spent $247.98m (which amounts to N111.23bn using the Central Bank of Nigeria’s December 30, 2022, official exchange rate of N448.55) servicing railway debts in the last two years while making only N11.61bn from railway services during the period… Read more
Source: https://punchng.com/nrc-services-debt-with-n111bn-generates-n12bn-report/?amp
9. Marginal oilfields sale generated N203bn, says Buhari
The President, Major General Muhammadu Buhari (retd), on Monday, said the Federal Government under his watch made over N203bn from the sale of petroleum prospecting licenses to 161 firms in its last marginal fields bid round… Read more
Source: https://punchng.com/marginal-oilfields-sale-generated-n203bn-says-buhari/?amp
10. External reserves slide further to $35bn
The country’s external reserves fell by $112.78m in two weeks to $35.42bn, figures obtained from the Central Bank of Nigeria have revealed… Read more
Source: https://punchng.com/external-reserves-slide-further-to-35bn/?amp
