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The simple definition of insolvency is when an entity is unable to pay its debt as they fall due. Going by this definition, the Federal Government and most states of the federation can be adjudged insolvent. Workers and pensioners across the land are owed many months of unpaid salaries and pensions, with little prospects of these arrears ever being paid unless ...
August, 2016
June, 2016
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1 June
Kwara reduces bond proposal to N10bn
The Kwara State Government has said that it has reduced the N20bn bond it initially wanted to access from the capital market to N10bn. Governor Abdulfatah Ahmed said in a statement by his Senior Special Assistant on Media and Communications, Dr. Muyideen Akorede, on Tuesday that the plan to secure the bond remained on course as captured in the 2016 ...
April, 2016
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25 April
Jonathan Replies Critics..,Says My Presidency Produced The Richest African
Former President, Goodluck Jonathan has replied his critics who accused him of handing over a nation at the verge of collapse to his successor, President Muhammadu Buhari. Speaking with Friends of Africa Coalition at the Mayor’s office in New Jersey, Jonathan recounted the achievements of his government to include, handing over a country that produced the richest man in Africa. ...
January, 2016
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25 January
FG Says Kerosene Now N83 Per Litre, Ends Subsidy
The Federal Government over the weekend increased the price of Household Kerosene (HHK) to N83 per litre from N50 per litre, thereby, officially ending subsidy on the product. The Petroleum Products Pricing Regulatory Agency, PPPRA , in its product pricing template released, on Sunday, January 24, stated that the N83 per litre price applies only to the Nigerian National Petroleum ...
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14 January
NNPC Raises Hope; Another Refinery For Construction In Bayelsa
A Nigerian firm, Epic Refinery Group, has signed a consulting agreement with a foreign firm, Chiron Refineries, for the construction of a 100,000 barrel refinery in Bayelsa State in south-eastern Nigeria. The Managing Director of Epic Refinery, Barango Wenke Jnr., said that the agreement followed the granting of licence to the company by the Nigerian Government. He said that his ...
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14 January
NNPC Set To Offer First Public Shares In 2018
Nigeria National Petroleum Corporation, NNPC, has unveiled plans to make its first initial public offering of assets in 2018, Petroleum Resources Minister of State, Emmanuel Kachikwu said. The NNPC GMD said “It’s inevitable,”on Tuesday in an interview in Abu Dhabi. “Part of the cleaning up process that we’re doing is to prepare for that.” Nigeria plans to sell shares in its ...
April, 2015
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30 April
Buhari Expresses Worries Over Dwindling FG Revenue
General Muhammadu Buhari painted a gloomy picture in the economic development of his administration as he said that the decline in the revenues due to fall in oil prices poses a great threat to his administration’s development agenda. Gen. Buhari who visited the newly elected Senators and House of Representatives members who are undergoing induction course in preparation for the ...
