EXCLUSIVE: Northern senators move against Akpabio over alleged N4trn budget paddingClimate change, extreme weather, conflict exacerbate global food crisisWhen the Police dangles its carrot, By Banji OjewaleEXCLUSIVE: Northern senators move against Akpabio over alleged N4trn budget paddingClimate change, extreme weather, conflict exacerbate global food crisisWhen the Police dangles its carrot, By Banji OjewaleConsidering these circumstances, wouldn't it be prudent to suspend or abandon the...
The Dangote Refinery costs $19 billion and was commissioned in 2023, but it is yet to start full operations and has a production capacity for 650,000 barrels/day. Through ‘Project Bison’, the NNPC, and not through the Sovereign Wealth Fund , has audaciously gone ahead to acquire a 20 per cent stake in the refinery for $2.
According to Wikipedia, Nigeria’s Sovereign Wealth Fund that is meant to save and invest some of the oil revenue for future generations, as well as to stabilise the economy during oil price shocks, was established in 2011 with an initial capital of $1 billion, and had $2.3 billion in it as at June 2023, which is a paltry $1.3 billion increment after 12 years. It will be interesting to know how much was squandered on salaries and perks of office within those 12 years.
High credit sales and indebtedness hindering operations, but we should remember that they borrowed $3.2 billion from AFREXIM bank, to be paid with crude oil. The PIA necessitates the creation and execution of monitoring, evaluation, and feedback mechanisms to uphold compliance, accountability, transparency, and performance. It underscores the importance of collecting, analysing, reporting, and disseminating data and information from these mechanisms to inform decision-making and policy formulation.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
23-year-old lady goes missing after breaking fast in Bauchi PolyA 23-year-old lady, Balkisu Sabira Adamu Mohammed has been declared missing after breaking Ramadan fast and observing the evening prayers at the Federal Polytechnic Bauchi Staff Quarters on Wednesday.
Source: GuardianNigeria - 🏆 1. / 94 Read more »
‘Consumption not production is what Nigeria needs’A chieftain of the All Progressives Congress, APC, Adamu Garba, on Monday claimed that what Nigeria needs is consumption and not production. According to him, 'whoever is talking about consumption to production doesn't understand the dynamics required for a country to be productive'.
Source: DailyPostNGR - 🏆 11. / 59 Read more »
FCCPC drags Mikano to court over alleged obstruction of investigationThe Federal Competition and Consumer Protection Commission, FCCPC, has dragged Mikano International Limited to a Federal High Court in Abuja over alleged obstruction of investigation. Adamu Abdullahi, the Acting Executive Vice Chairman/ Chief Executive officer, disclosed this in a statement on Wednesday.
Source: DailyPostNGR - 🏆 11. / 59 Read more »
EPL: He has great energy, nothing to dislike about him – Souness hails Arsenal midfielderLiverpool legend, Graeme Souness has hailed Arsenal captain Martin Odegaard for his displays for the club do far this season. Souness said the Norwegian midfielder has great energy, adding that there is nothing to dislike about him. 'I'm a big fan of Martin Odegaard. There's nothing to dislike about him,' Souness told Mail Online.
Source: DailyPostNGR - 🏆 11. / 59 Read more »
Edo Guber: Great wisdom picking Idahosa as running mate – Oshiomhole to OkpebholoEdo North Senator, Adams Oshiomhole has said the All Progressives Congress, APC, governorship candidate in the state, Monday Okpebholo showed great wisdom and foresight in picking Dennis Idahosa, as his running mate. Oshiomhole also congratulated Okpebholo for emerging as the APC's governorship candidate in Edo State.
Source: DailyPostNGR - 🏆 11. / 59 Read more »
‘You’re a great mentor’ — Northern singers eulogise Maduka University Enugu founder, Samuel Maduka O ...A group of entertainers from the northern part of Nigeria has eulogised Dr. Sam Maduka Onyishi, the Chancellor of Maduka University and CEO of Peace Mass Transit, in a new song, describing him as a mentor, hero, and honest person. The singers said Dr.
Source: DailyPostNGR - 🏆 11. / 59 Read more »