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 46-year-old landlord, simply identified as Sunday, was last Friday arrested for allegedly raping a 10- year-old daughter of his tenant at Bonugo village in Kwali Area Council in the Federal Capital Territory (FCT). A source who craved anonymity disclosed this to our reporter on Sunday, saying the incident happened after the victim’s parents, who are tenants in Sunday’s house, went out to visit a relative. He said the accused allegedly lured the girl into his room and raped her, causing serious injuries on her private part, adding that it was two days later, when the parents discovered that their daughter was not walking properly that they asked her what was wrong with her. “The man, after raping the girl, threatened to kill her if she told her parents. The mother noticed the abnormal way she was walking and asked her what was wrong but she refused to talk,” he said. City News gathered that it took the intervention of a relative of the victim who threatened to beat he...

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...