Nigeria’s top two oil officials are at loggerheads over the management of the state oil firm. An August 30 – dated letter was submitted to the president by the Minister of Petroleum Resources (MPR), Ibe Kachikwu. The letter, confirmed by the oil ministry, is titled “Matters of insubordination and lack of adherence to due process perpetrated by the GMD NNPC (Group Managing Director of the Nigerian National Petroleum Corporation).” Kachikwu, here, accuses
The federal government has asked the National Assembly to amend its spending law to enable a debt program to settle ₦2.7 trillion ($8.6 billion) worth of obligations including pensions and salary arrears, according to a letter from Vice President Yemi Osinbajo. The letter, read out in the Senate on Tuesday, requested amendments to the law, which stipulates allocation of government spending, to allow Nigeria to fund recurrent expenditure from proceeds of the debt
Suspected suicide bombers killed at least 12 people and injured 26 others on 18 September in Borno, epicentre of the Islamist militant Boko Haram insurgency, the chairman of the local emergency agency said. The attacks are the latest in a series of bombings in the restive northeast that have killed at least 200 people since June 1, according to a Reuters tally. “Three suicide bomber infiltrated a settlement called Mashimari, in Konduga Local Government,” said Ahmed
Despite a court hearing scheduled for 17 October, the Nigerian Army, under the guise of a military exercise, went into Umuahia, the capital of Abia state in the country’s South-East, in an attempt to get at Nnamdi Kanu, the leader of separatist group, the Indigenous People of Biafra.
The operation, which was disguised as a military exercise, Python Dance II, in the main part succeeded in creating chaos.
The Army’s jumping of the gun in designating
The Nigerian Army surrounded the Afaraukwu country home of the leader of the Indigenous People of Biafra, Nnamdi Kanu on 11 September, causing panic in the area as shop owners were forced to close their businesses almost immediately. The detachment of soldiers, arrived in ten armoured personnel carriers and seven Toyota Hilux vehicles and it was not immediately clear what their objective was. Kanu’s lawyer, Ifeanyi Ejiofor, accused the Nigerian government of placing
Nigeria’s states have raised ₦791.2 billion through the issuance of bonds over the last 40 years to carry out infrastructural development projects or service loans. According to SEC data, the now defunct Bendel State was the first to secure ₦20 million on behalf of the Bendel State Loan Stock in 1978 for housing estate development. Of the current states, Lagos leads the way with a total of ₦290.090 billion in bond issuances, the largest being a ₦87.5 billion
Data released by the Nigerian Bureau of Statistics today shows that Nigeria’s economy is finally out of a recession. GDP growth for Q2 of 2017 grew by 0.55%, halting five quarters of negative growth. As expected, there have been mixed reactions to this. Some have celebrated what they consider a praiseworthy feat which indicates that the government has finally turned the corner on revamping the economy.
Others are however less excited by the developments, and there
The first meeting of Nigeria’s cabinet since the return of President Muhammadu Buhari from three months of medical leave in Britain has been cancelled, his spokesman said on 23 August without explaining why. Buhari returned to Nigeria on Saturday after travelling to Britain on May 7 for an unspecified illness, and had written lawmakers on Monday to confirm he had returned and was resuming his duties. In a related development, the Vice President Yemi Osinbajo
Over the last few months, there has been a rise in attacks by the Boko Haram terrorist group in the North East. More worrying is that in some cases, these attacks have been successful, with Boko Haram overwhelming security forces and taking captives in the process. Many of these attacks are suicide attacks targeted at Maiduguri with the University of Maiduguri coming under a serious and concerted threat perhaps for the first time. This has led the authorities to dig
An overwhelming number of Nigerians will accept a bribe when offered or pay a bribe when demanded, the first ever Nigerian Corruption Survey 2017 published by the National Bureau for Statistics (NBS) has revealed. The survey published on 16 June, showed only 5.3 percent of Nigerians will either refuse to pay a bribe when asked to or refuse to accept when a bribe is offered to them. The result of the survey which has now been published, revealed only 20 out of 100 people