Nigeria’s January inflation seen to remain flat

Nigeria’s January inflation seen to remain flat

The Financial Derivatives Company Limited (FDC) has estimated a relatively flat movement in the January headline inflation rate to 18.6 per cent, from 18.55 per cent recorded in December. The National Bureau of Statistics is expected to release January inflation figures tomorrow, according to its data release calendar. Prices have generally either declined or remained flat recently. The food basket especially has been relatively more inelastic than other commodities, according to the FDC. The research and investment firm noted seasonality effects, supply shocks and exchange rate pass through effects through…

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DisCos fail to settle N243bn GenCos’ debts

DisCos fail to settle N243bn GenCos’ debts

The 11 electricity Distribution Companies (DisCos) operating in Nigeria have not settled a debt of N243bn for power supplied by 25 Generating Companies (GenCos) as at the end of 2016. Latest data released by the National Bureau of Statistics (NBS) indicated that DisCos paid N88 billion out of invoice of N331bn issued to them by GenCos last year, leaving a debt of N243bn. The Daily Trust reports that the mostly privatised power sector has faced acute illiquidity in the year with a shortfall of over N803bn by December, a development…

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OPEC members pump less oil in January

OPEC members pump less oil in January

The Organisation of Petroleum Exporting Countries (OPEC) members more than fulfilled their plan to lower oil output in January, a report published by the group of major producers yesterday has said. The OPEC members decided in November to reduce their output at the start of 2017, aiming to boost oil prices and revenues, shortly afterward, 11 non-OPEC producers including Russia joined the effort to pump less. “OPEC’s 13 members pumped 32.1 million barrels per day (bpd) in January, below its target of 32.5 million bpd,’’ the Vienna-based group said. According…

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NNPC to import more petrol

NNPC to import more petrol

The Nigerian National Petroleum Corporation (NNPC) has announced plans to increase the February supply of petrol by six additional cargoes to the existing national sufficiency of over 32 days and import three additional diesel cargoes before the end of February. The corporation also said it has placed an order for massive 250 trucks per day loading of diesel and kerosene from across the three refineries in Port Harcourt, Kaduna and Warri. According to a statement by its spokesman, Ndu Ughamadu, Acting NNPC Group Managing Director, Engr. Saidu Mohammed, disclosed these…

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Vitamin C Weakens Tooth Enamel and Other Facts the Dental Experts Do Not Know

Vitamin C Weakens Tooth Enamel and Other Facts the Dental Experts Do Not Know

We encourage daily supplementation of vitamin C for everyone. It protects against everything from sudden infant death syndrome (S.I.D.S) to scurvy, heart disease, and in some cases, cancer. Two-time Nobel Prize winner, Linus Pauling, recommended a whopping 3 grams of vitamin C every day for the average healthy male, and 6 grams for those at risk of heart disease. There are many methods of vitamin C supplementation, in the form of capsules, powders and syrups. For decades, parents have been providing their children with chewable vitamin C pills. Vitamin C…

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Nigeria Customs Service NCS Considers Recruitment, List Job Vacancies 2017

Nigeria Customs Service NCS Considers Recruitment, List Job Vacancies 2017

ABUJA— The Nigeria  Customs Service, NCS, is expected to recruit into the categories of Level 10, 09, 08, 07, 06 very soon. This is also accompanied by promotions into these levels which will create vacancies according to this published picture. Image Source: http://www.fedpolynasnews.com.ng/2017/01/customs-finally-releases-long.html It was gathered that the customs authorities had submitted names of officers for promotion to these ranks. Always Visit the official NCS website for details https://www.customs.gov.ng/

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We‘ll avoid pitfalls of 2016 Budget process this year – Senate

We‘ll avoid pitfalls of 2016 Budget process this year – Senate

As the National Assembly opens 2017 budget defence wednesday, the Senate has assured Nigerians that it will deploy all powers within its reach to avoid a repeat of the woes which accompanied the 2016 budget process. The 2016 budget process was the most controversial appropriation process in Nigeria’s history as it was characterised by a range of controversies which began with secret swapping of the budget by the executive, replacement of the initial document by President Muhammadu Buhari, as well as alleged padding of the budget by both the executive…

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NCAA chief says closure of Abuja Airport best option

NCAA chief says closure of Abuja Airport best option

The Director-General of the Nigerian Civil Aviation Authority (NCAA), Capt. Muhtar Usman, has backed the plan by the Federal Government to close the runway of the Nnamdi Azikiwe International Airport, Abuja for repairs. Usman made the announcement while speaking with aviation correspondents at Ikeja on Monday. The News Agency of Nigeria (NAN) recalls that government had announced a proposal to close the airport for six weeks from March 8 to repair the dilapidated runway. Usman said that after a detailed review of the situation, the closure of the airport remained the…

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NDDC sets 21-point agenda for Niger Delta development

NDDC sets 21-point agenda for Niger Delta development

The Niger Delta Development Commission (NDDC) has reaffirmed its commitment to making the commission’s systems and processes more transparent for sustainable development of the Niger Delta region. This was contained in a 21-point focus set out at the board’s inaugural meeting in Port Harcourt, Rivers State last Thursday as strategic to regional development. NDDC Chairman, Senator Victor Ndoma-Egba, stated that it was imperative to create opportunities “for public participation to engender confidence in the activities of the commission by all stakeholders in the region.” Other points, Ndoma-Egba stated, included curtailing…

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Forcados pipeline set to boost oil exports

Forcados pipeline set to boost oil exports

The Trans-Forcados pipeline, which was shut for most of 2016, is likely to be reopened around the end of the second quarter of 2017, the Chief Executive Officer of Seplat Petroleum Development Company Plc, Mr. Austin Avuru has said. Owned by the Nigerian Petroleum Development Company (NPDC) and operated by Shell Petroleum Development Company (SPDC), the pipeline has been attacked severally by the Niger Delta Avengers (NDA). It was first attacked by the Avengers in February 2016, the first on a subsea pipeline in the country. A spill that occurred…

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