13% derivation: Eight oil-producing states received N144bn in Q1 2022
Eight oil-producing states in Nigeria received N144.31 billion from the federation account in the first quarter of 2022. The amount is a statutory allocation of the 13 percent derivation formula as enshrined in section 162, sub-section 2 of the Nigerian constitution. The states were Delta, Akwa-Ibom, Bayelsa, Rivers, Edo, Ondo, Imo, and […]
DMO: Nigeria’s debt profile prone to oil price volatility, FX risks
The Debt Management Office (DMO) says Nigeria’s debt profile is prone to the volatility of oil prices and forex exchange risk. DMO said this in its 2021 national market access country (MAC) debt sustainability analysis (DSA) report, released on Thursday. According to the report, DMO said the country’s debt profile shows moderate […]
Newspaper Headlines: PDP sues INEC, APC… seeks disqualification of Obi, Tinubu
President Muhammadu Buhari’s new order to security chiefs to confront and eliminate terrorists dominates the front pages of Nigerian dailies. Source: Top Stories
Osun guber: Wike, Makinde, Ortom absent as Atiku leads PDP campaign for Adeleke
The Peoples Democratic Party (PDP), on Thursday, held a rally in Osun ahead of the governorship election in the state. The governorship election is scheduled to hold on July 16. The campaign was held in Osogbo, the capital of Osun, and the PDP asked residents to vote for Ademola Adeleke, the party’s […]
Buhari: Despite challenges, Nigeria still one of the most hospitable countries to stay
President Muhammadu Buhari says despite the recent security challenges, Nigeria remains one of the most hospitable countries in the world. Buhari said this on Thursday at the graduation ceremony of the senior course 44 of the armed forces command and staff college, Jaji, Kaduna. According to a statement by Garba Shehu, presidential […]
Babachir on Muslim-Muslim ticket: Who certified Shettima most competent northerner?
Babachir Lawal, former secretary to the government of the federation (SGF), says fielding two Muslims as presidential and vice-presidential candidates of the All Progressives Congress (APC) will cause division. Lawal said this on Thursday during an interview with ARISE TV. On July 10, Bola Tinubu, APC presidential candidate, announced Kashim Shettima, former […]
Nigeria moves up 16 places on global gender gap index
Nigeria has been ranked 123rd out of 146 countries on the 2022 global gender gap index, which measures access to resources and opportunities in countries. In 2021, the country was ranked 139th out of 156 countries. The World Economic Forum (WEF), in its publication titled: ‘Global Gender Gap Report 2022’, released on […]
Kwankwaso picks Pastor Idahosa as running mate
Rabiu Kwankwaso, presidential candidate of the New Nigeria Peoples Party (NNPP), has picked Isaac Idahosa, general overseer of God First Ministry, as his running mate for the 2023 presidential election. The party disclosed this in a tweet on Thursday. “Our VP Pastor Bishop Isaac Idahosa from Edo State,” the party wrote. […]
Atiku: PDP crisis a social media drama — I’m open to meeting with Wike
Atiku Abubakar, presidential candidate of the Peoples Democratic Party (PDP), says he is open to meeting with Nyesom Wike, governor of Rivers state. Abubakar said this on Thursday while fielding questions from journalists in Osogbo, Osun state capital. When asked if the party is divided into factions, Abubakar said: “It is a […]
Naira hits 620/$ at parallel market amid surge in FX demand
The naira, on Thursday, fell to N620 per dollar at the parallel market amid the lingering scarcity of the greenback. The figure represents a depreciation of N5 or 0.8 percent from the N615 it traded last week. Currency traders known as Bureaux De Change operators (BDCs), who spoke to TheCable in Lagos, said […]