The Nigerian National Petroleum Corporation (NNPC) has increased the supply of gas to the power sector between January 2017 to January 2018 by 88.89 per cent.

The information, according to a statement from Mr. Ndu Ughamadu, NNPC Group General Manager, Group Public Affairs Division, was contained in the corporation’s monthly Financial and Operations report for January 2018, which was released yesterday in Abuja. Ughamadu, in the statement, quoted the monthly report as saying that gas-to-power supply as at January 2018, stood at 731 million metric standard cubic feet (mmscf) per day as against 387mmscf/d in January 2017, representing 88.89 per cent increase.

“An average of 731mmscf/d of gas was sent to over 20 domestic thermal power plants in the month of January 2018, generating a thermal power output of 3,076 megawatts (mw) to the national grid, representing 76.7 per cent of the total national power generation”, the report stated.

Controversial former Education minister, Dr. Oby Ezekwesili, on Monday criticized the Senate President, Senator Bukola Saraki and the Speaker of House of Representatives, Yakubu Dogara for revealing that the 2018 budget will be laid this week and passed next week.

Ms Yewande Sadiku, the Executive Secretary, Nigerian Investment Promotion Commission (NIPC), said Nigeria recorded a total of 24.1 billion dollars foreign investment in the last two years. Sadiku, who made this known at a news conference in Abuja, said that the commission’s main objective was to promote and position the country to attract foreign investments.

The Ebonyi state government says it has it has budgeted N16 billion to farmers to access this fiscal year including civil servants and other interesting individuals.The State Governor, David Umahi who stated this when he met with chairmen of 13 council areas, 64 coordinators of development centres, liaison officers and committee members of development centres including senior technical assistants,

The World Bank has pledged support for Nigeria’s Economic Recovery and Growth Plan, ERGP. Leader of visiting World Bank group, Patrizio Pagano, made the pledge after a meeting between them and Vice President Yemi Osinbajo.

Amazon.com Inc has made a formal offer to buy a 60 percent stake in Indian online retailer Flipkart, CNBC-TV18 reported on Wednesday, citing sources.

Amazon also offered Flipkart a breakup fee of $2 billion, the TV channel reported. Amazon’s bid is likely to be on par with Walmart Inc’s bid for the Indian e-commerce company, CNBC-TV18 reported.

Flipkart’s investors and founders are in favor of the deal with Walmart, with founder Sachin Bansal overseeing final negotiations with Walmart, CNBC-TV18 said.

At least five million more Nigerians have been added to the tax net following reforms in the tax collection architecture, Vice President Yemi Osinabajo has said. Prof. Osinbajo who spoke yesterday at the 20th annual tax conference by the Chartered Institute of Taxation of Nigeria (CITN) in Abuja, also said tax compliance and good governance should exist side-by-side as the head and tail of the social contract that binds - or should bind - citizens and the government in Nigeria.

Emerging reports indicate that the Nigerian Police Force Pensions Ltd has recorded over N75.7 billion profit for the 2017 financial year, NAN reports. The Chairman of the NPF Pensions Ltd, retired Inspector-General of Police, Suleiman Abba, stated this on Monday in Abuja, at the NPF Pensions Ltd 4th Annual General Meeting.

Nigeria has recovered about N7.8 billion, $378 million and £27,800 through the Whistleblower’s Policy launched by the President Muhammadu Buhari administration in December 2016. Vice President Yemi Osinbajo stated this on Monday at the opening of the Open Government Partnership, OGP, week holding at the Nigerian Airforce Headquarters, Abuja, where he represented President Muhammadu Buhari.

Oil is poised for a second monthly advance, propelled by the prospect of a disruption in Iranian supplies and as OPEC closes in on its target of wiping out a global glut.

Futures in New York are up 3.9 percent this month, even after a near 1 percent drop on Monday following data that showed an increase in U.S. drilling activity. A potential withdrawal in May by U.S. President Donald Trump from a 2015 nuclear deal between world powers and Iran would re-impose sanctions on the producer and curb its exports. Meanwhile, OPEC’s trimming output even after concluding it’s cleared 97 percent of the surplus that’s weighed on prices.