The Journal

The Central Bank of Nigeria (CBN) says it is targeting to bring down the price of rice from the current N38,000 to N20,000 per bag. This target is coming on the heels of the rice revolution that President Muhammadu Buhari launched last week in Abuja. The Director of Development Finance at the CBN, Mr. Yusuf…

African Development Bank President Akinwumi Adesina has described  Dangote oil refinery and petrochemical plant in Nigeria as a “game-changing initiative” that will spur Africa’s development and deepen regional integration, “This is a world-class industrial complex that will make Nigeria and Africa proud,”. Adesina said during a recent tour of the $19.5 billion Nigerian greenfield crude…

Bowing to pressure, the Federal Government is now proposing to extend the period for the implementation of the removal of subsidy on Premium Motor Spirit (PMS), popularly known as petrol, by 18 months. The Minister of State for Petroleum Resources, Timipre Sylva, announced this on Tuesday while briefing State House correspondents in Abuja. Speaking to…

A recent report of the Organization of the Petroleum Exporting Countries has revealed a plunge in Nigeria’s crude oil production in December 2021. This is a loss of about N74.51bn in oil earnings. According to data from OPEC, Nigeria produced an average of 1.19 million barrels per day in December, down from 1.26 million bpd…

The National Assembly last Tuesday passed the Electoral Amendment Bill after reconsideration by the lawmakers to the stance of President Muhammadu Buhari has stated in his letter to the house. The new bill adopted a direct, indirect, and consensus model of primary elections for political parties in the country. The passage followed the adoption of…

Several leaders of labour unions in Nigeria met on Tuesday 18th January, 2022 in Abuja, and have generated a list of conditions that would allow the unions support the removal of subsidy on Premium Motor Spirit (petrol). Some officials of the Nigerian Labour Congress, Trade Union Congress, Petroleum and Natural Gas Senior Staff Association of…

Nnamdi Kanu, the leader of the Indigenous People of Biafra (IPOB), has been awarded 1 billion naira in damages by a High Court in Umuahia, against the Federal Government of Nigeria, for violation of his fundamental human rights. On Wednesday 19th January, 2022, in a judgment delivered by Justice Benson Anya, the court pronounced as…

Heavily armed gunmen reportedly invaded an All Progressives Congress (APC) meeting in Enugu South Local Government Council, killing the party’s State Youth Leader and one other party member. The sad event took place last night, Tuesday 18 January,2022. The Youth leader was identified as Mr. Kelvin Ezeoha. According to eye witnesses, the members of the…

The President of the Senate, Ahmad Lawan has announced that the move to implement the removal of fuel subsidy has not been authorized by President Muhammadu Buhari. The Senator declared this after a meeting with the President yesterday at the Presidential Villa in Abuja. He mentioned that his meeting with the President was to express…

The Federal Government affirms to injecting 10,000,000 Liquefied Petroleum Gas (LPG) cylinders into circulation nationwide in order to increase access to the commodity and promote the use of cleaner energy. Alhaji Musa Ibrahim, The Managing Director of the Nigeria LPG, disclosed this at a two-day sensitization workshop on Bauchi, on the 18th of January; tagged…