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Social Development

#2019Budget: N7bn Allocation For Buhari’s Presidential Air Fleet Equals 2017, 2018 Combined

Oladeinde Olawoyin The Nigerian government has proposed to spend N7.30 billion (7,297,022,065) on the Presidential Air Fleet (PAF) in the 2019 budget proposal, according to details obtained from the Budget Office of the Federation. This is almost equals to the amount budgeted for the 2017 and 2018 combined. According to the Premium Times report, the proposed expenditure is about 67 ...

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Nigeria To Lose 27% Of Its Oil Production

Nigeria is to lose about 226,300,000 million barrels of oil production in 2019, representing about 27 per cent of its current year’s target. The loss is sequel to the Organisation of Petroleum Exporting Countries (OPEC) decision to cut the country’s production quota from January 1, 2019. According to an arrangement by the oil cartel, OPEC members will reduce production by ...

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“From VAT alone FG generates N808bn in 2018′ – NBS

National Bureau of Statistics, NBS, has said the revenue generated from Value Added Tax, VAT, from sectoral distribution from first to third quarters of 2018 was N808 billion. VAT is a consumption tax placed on a product whenever value is added at each stage of the supply chain, from production to the point of sale. Sectoral Distribution of VAT for ...

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#KonstructApp: Delivering Smart Construction Services on the Go!

The world is fast changing as digital mobile Apps are gradually becoming our companions and Personal Assistants of sort – helping out with our day to day ‘To do list’. Today, not too many people can withstand the rigours of searching for experienced and professional artisans, technicians, plumbers, Painters, Skilled labour among others for wide range of planned and impromptu ...

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Nigeria’s 2019 budget still under threat as oil price hovers at $52.72

THE execution of Nigeria’s 2019 budget will likely encounter a serious threat as the price of Bonny Light, the nation’s premium oil grade, yesterday, hovered at $52.72 per barrel in the international market. The price, which had dropped to as low as $48 last week, before hovering at the current level, showed $7.28 below the $60.00 per barrel benchmark price ...

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State Governors reject 30K minimum wage demand by NLC

As a parting shot for year 2018, Nigerian governors on Monday reiterated their rejection of the demand by the Nigerian Labour Congress for the payment of N30,000 as minimum wage to workers, insisting that they had other competing needs to contain with and would therefore not use more than 50 percent of their income for settling workers. In a strongly ...

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#DRCPolls: internet shutdown to avoid ‘chaos’ after vote

The DR Congo government said Tuesday it had cut the country’s internet services to avert a “popular uprising” as tensions rise pending the results of fractious presidential elections. The opposition accused authorities of cutting the internet on Monday to thwart activism, while leading Western powers called on the troubled central African nation’s government to quickly restore web access. The long-delayed ...

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U.S. Embassy Abuja, Lagos consular offices close till further notice

The United States’ Embassy in Nigeria has temporarily closed its consular section in Lagos and the capital city, Abuja. In a statement published on the U.S. embassy Facebook page on Monday, the closure was as a result of the government shutdown in the U.S. The U.S. embassy, in its statement, also apologised to Nigerians for any inconveniences the shutdown may ...

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Global Experts release Summary Report of the 55th Meeting of the GEF Council

Experts at the recently concluded 55th Meeting of the Global Environment Facility Council has officially released the summRy of the report for the public use. The 55th meeting of the Global Environment Facility (GEF) Council was convened in Washington, DC, US, from 18-20 December 2018, at World Bank headquarters. Representatives of governments, international organizations, and civil society organizations (CSOs) attended ...

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‘To implement 2019-22 SDGs Nigeria needs N103trn’ says UN

Nigeria needs not less than 337 billion dollars to implement the Sustainable Development Goals (SDGs) from 2019 to 2022, the UN Support Plan for the Sahel has estimated. According to the exchange rate by the Central Bank of Nigeria, the figure represents 103 trillion Naira, over 11 times more than the proposed N8.9 trillion Budget for 2019. The cost of ...

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