Emperorzee

The Nigerian National Petroleum Corporation, NNPC, has announced a loss of N378.49 billion in its operations for the first eight months of the year. Ibe KachikwuOne of NNPC’s subsidiaries, the Products and Pipeline Marketing Company Limited, PPMC, accounted for majority of the losses, as it spent over N300 billion on subsidy and in the repairs and management of its pipelines between January and August. In the figures presented by NNPC’s Monthly Financial and Operations Report for August, obtained over the weekend, NNPC posted a loss of N60.669 billion and N51.714 billion for the months of July and August, respectively. The loss resulted from expenses being higher than its revenue in the period under review. Specifically, NNPC recorded a total revenue of N1.17 trillion, lower than an expenditure of N1.55 trillion, leaving a deficit of N378.49 billion. In the month of July, NNPC recorded revenue of N149.198 billion and expenses of N200.126 billion, while in August, the grou...

A human rights activist and lawyer, Morakinyo Ogele, has brought the Ondo State government to the High Court sitting in Akure over mandate that all State citizens have a Residency Card, known as Card Igbeayo. Ogele made the charge through case file number: Ak/44M/2015 exclusively obtained by SaharaReporters. The case file revealed that the beleaguered Governor, Olusegun Mimiko, and his Commissioner for Justice and Attorney General, Eyitayo Jegede, were joint defendants in the suit. Already the High Court has fixed Tuesday, September 22, 2015, for the case hearing. The Government of Ondo State, under the embattled Governor Mimiko, made the Residency Card compulsory for people in the State, especially the workforce in its civil service. The government said without the card no resident would be able to enjoy or access the dividends of democracy, especially healthcare service and basic infrastructures. However, in his suit, Ogele argued that it is unlawful for the ...

The African Union has suspended Burkina Faso over Thursday's military coup. The AU said sanctions would be imposed if members of the presidential guard, who staged the coup do not release members of the interim government which includes the interim president, Michel Kafondo. The presidents of Benin and Senegal are in the city for talks with the coup leader. Meanwhile Pres. Buhari has condemned the coup in Burkina Faso. Below is a press statement from the presidency.. President Muhammadu Buhari and the Federal Government of Nigeria unreservedly condemn Wednesday's detention of the Interim President, the Prime Minister and other ministers of the transitional government of Burkina Faso in an apparent coup d'etat. Click Here To Register and Get Paid For Clicking Links And Answering Questions!! President Buhari and Nigeria align with ECOWAS, the African Union and the United Nations in rejecting the brazen contravention of the constitution and transitional charter o...

Former Lagos state Commissioner for Economic Planning and Budget under Babatunde Fashola's government, Ben Akabueze has come out to defend his former boss in the N78 million website scandal which broke weeks ago. In an interview with Kadaira Ahmed of Straight Talk With Kaidaia, Ben Akabueze says they ran a very detailed government that checked against fraud and that if the formergovernor wanted to steal, it wouldn't be N78 million "I think it would be useful for people to look at the full scope of the project and then make a determination about whether or not it did not represent value for money. For me, we ran an annual budget of over N400bn. Click Here To Register and Get Paid For Clicking Links And Answering Questions!! I think that if he (Fashola) really wanted to steal money, it wouldn't be N78m out of over N400bn that he had access to. Of course, every kobo of public funds must be accounted for and I hope in the future, we can get the full facts and it w...

Zambian power authorities have planned to triple power output to 6,000 megawatts (MW) in 2 years through expansion of solar energy by foreign investors, the head of its investment agency said. The continent's second biggest copper producer where the bulk of its generation capacity of 2,200 MW of power is water-powered has been battling with erratic power supply. The power problems and copper price slide have driven the kwacha currency to record lows amid a selloff in commodity-linked currencies as top copper consumer China's economy has slowed. Zambia Development Agency (ZDA) Director General Patrick Chisanga said he had held "very positive" talks with an unnamed German company aiming to invest $500 million in a solar power plant but did not disclose its planned location. [Register] Click Here To Buy Goods, Sell Goods And Also Make Money Referring People To Buy And Sell "It is planned that they could produce about 400 megawatts of power in two steps,...

The Governor of Oyo State, Abiola Ajimobi, on Thursday said Nigeria’s Excess Crude Account as at 15th of September stands at $2.257 billion. Briefing State House correspondents after the National Economic Council (NEC), Governor Ajimobi said states of the federation have started benefiting from the Special Intervention Fund approved by President Muhammadu Buhari. The NEC meeting, which was presided over by the Vice President Prof Yemi Osinbajo, was briefed on the bail out by the Central Bank Governor (CBN), Mr. Godwin Emefiele. Mr Emefiele said 18 states had been able to draw from the fund, while a number of other states are being processed for the soft loan facility. The soft loan facility is part of President Buhari’s relief package designed to help states pay backlog of salaries and also ease their financial challenges caused by the drop in federal allocation. NEC also received an ongoing report from its ad-hoc committee of five governors on the management of ECA and federat...