Threatened Strike By NUPENG, PENGASSAN Over Sacked Chevron Workers

The joint executive council of the Nigerian Union of Petroleum and Natural Gas Workers (NUPENG) and the Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has threatened to commence an industrial action against Chevron Nigeria Limited (CNL) without further notice.

Naira Hits N502/$1 At Parallel Market, Lowest Since 2017

The Nigerian Naira on Friday fell to its lowest level in over four years at the parallel market to N502 to $1, crossing the 500 mark. The Naira also depreciated against the Pound sterling and Euro, at N701 and 608, respectively. This comes two weeks after the Central Bank of Nigeria (CBN) devalued the currency in an effort to ease the naira against foreign currencies.

Central Bank of Nigeria To Unveil Digital Currency Before December

The Central Bank of Nigeria (CBN) has revealed its plan on launching a digital currency, this was disclosed by the Director of the Information Technology Department, Rakiyat Mohammed at the end of the 306th Bankers' Committee meeting.

FG: 75 Companies Bid For Concession of 12 Federal Highways

A total of 75 companies have officially submitted bids to become concessionaires for 12 federal roads under the first phase of the Highway Development Management Initiative (HDMI). This was disclosed at the opening of the Request for Qualification (RFQ) bid by Mrs. Abimbola Asein, Head, Public-Private Partnership (PPP) Unit of the Federal Ministry of Works and Housing.

Buhari Commissions Lagos-Ibadan Railway Project

President Muhammadu Buhari has on Thursday commissioned the 157 kilometres Lagos-Ibadan standard gauge rail line for commercial operations at the Ebute Metta terminal of the Mobojaji Johnson railway station in Lagos State. According to Femi Adesina, presidential spokesperson, the project was established to reduce the heavy traffic congestion on the Lagos-Ibadan highway. Speaking during the inauguration, Buhari noted that the railway project was another milestone achieved by the present administration in its efforts of revitalizing the transportation system for both passenger and freight.

NDPHC, EKEDC Sign MoU To Boost Power Supply To Ibeju-Lekki

The Niger Delta Power Holding Company, NDPHC, has signed an agreement with Eko Electricity Distribution Company Plc, EKEDC, to deliver 300 megawatts of power to Ibeju-Lekki and other franchise areas in Lagos State.

FEC Approves N895bn 2021 Supplementary Budget

The Federal Executive Council has approved the 2021 supplementary budget draft of eight hundred and ninety-five billion Naira N895 billion. This was revealed by the Minister of Finance, Zainab Ahmed while briefing State house correspondents after the council meeting which was presided over by President Muhammadu Buhari, in Abuja on Wednesday. Mrs Ahmed noted that the approval was based on the need for funding to ensure that Nigeria is able to meet its commitment under the Nigerian Comprehensive AIDS programme. She further stated that the supplementary budget will be utilized on security, Covid-19 vaccines, salaries and other health-related expenditure as well as a recurrent component of the defence and security expenditures. “Today the Federal Minister of Finance, Budget and National Planning presented to council a proposal to seek approval for the draft Federal Government of Nigeria 2021 supplementary budget.” She said.

FG Has Been Borrowing From Recovered Loot – Finance Minister

The Minister of Finance and National Planning, Zainab Ahmed has revealed that the government has been borrowing from recovered loots to fund the budget. The minister revealed this while appearing before the House of Representatives committee investigating recovered loots on Thursday. The minister, who appeared alongside the Accountant General of the Federation, Ahmed Idris, among other revelations, said that the federal government borrowed from recovered loot to fund its operations, and that the unusual circumstances the country found herself had made it difficult to pay back the loan. Ms. Ahmed, however, said that the government was hoping to pay back in the 2022 budget. The chairman of the committee, Adeogun Adejoro, said that it was imperative for the committee to know the amount of recovered loot and where it was being kept. Ms. Ahmed noted she had no idea of the number of accounts being used to keep the recovered loot. Adding that N50 billion was provided from recovered loot to fund the 2020 budget, adding that there were two types of recovery accounts- interim forfeiture and final forfeiture accounts.

FG Shortlists 550,000 N-Power Applicants For Final Stage

The Federal Government said it has shortlisted about 550,000 applicants out of 1.8 million Batch C applicants for the final stage of the N-Power Programme. The above was made public by the Minister of Humanitarian Affairs, Disaster Management and Social Development, Hajiya Sadiya Umar Farouq, at a press briefing on Tuesday, in Abuja. This follows the launching of the National Social Investment Management System (NASIMS) for the Batch C applicants on March 11, 2021. Hajiya Farouq also said that the successful candidates are being contacted via email addresses.

Prices Of Bread and Biscuits Surges By 30%

National President of the Association of Master Bakers and Caterers of Nigeria (AMBCN) Mansur Umar has directed its members to increase prices of bread and other bakeries by 30%, citing an increase in the purchase of baking ingredients and materials; Although, Lagos chapter of AMBCN, Progressive Bakers Association of Nigeria (PBAN) says it will not increase its own prices for the time being.