By Jemimah Wellington, JKNewsMedia Reporter MISLEADING CLAIMS about the completion status of BUA Group’s Akwa Ibom refinery have been dismissed. The company, in a statement, clarified that its 200,000-barrels-per-day crude oil refinery is not yet 90% complete but remains on schedule for delivery by the end of 2025. In a statement releas...
By Joke Kujenya ECONOMIC HARDSHIP continues to deepen in Nigeria, as citizens grapple with the ripple effects of fuel subsidy removal, a depreciated naira, and soaring inflation. Petrol prices surged by nearly 500% within a year of the subsidy removal, leaving many households struggling to meet daily expenses. Meanwhile, the liberalisation of...
By Joke Kujenya THE OFFICE of the Accountant General of the Federation (OAGF) has accused the Central Bank of Nigeria (CBN) of misappropriating over N2.7 trillion in interest charged on the N4.4 trillion Ways and Means Advances granted to the federal government. The OAGF claims the apex bank treated these advances as loans from external [&hel...
NIGERIA’s NATIONAL energy company, the Nigerian National Petroleum Corporation Limited (NNPCL), announced that it has taken a major step in addressing methane emissions across its operations. The company said it has joined the Oil and Gas Methane Partnership (OGMP) 2.0, an international framework designed to track and reduce methane intensity ...
By Jemimah Wellington, JKNewsMedia Reporter FOOD PRICES in Nigeria have risen sharply, climbing by 60.88 percent since May 2023, despite substantial investments and loans aimed at boosting food production across the country. Data from the National Bureau of Statistics (NBS) actually reveals that food inflation, which stood at 24.82 percent whe...
By Jemimah Wellington, JKNewsMedia Reporter A 28.2% decline in Nigeria’s company income tax (CIT) revenue marked the third quarter of 2024, with total collections dropping to N1.77 trillion from N2.47 trillion in the preceding quarter, according to the National Bureau of Statistics (NBS). The CIT, levied on profits of both local and foreign co...
