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04
Sat, May

The National Economic Council (NEC) has asked the federal government to use $1bn from the excess crude account (ECA) for the fight against insurgency in the north-east. Godwin Obaseki, governor of Edo state, disclosed this to state house correspondents after the council’s meeting on Thursday, presided over by Vice President, Yemi Osinbajo.

Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu and the Director General of the DSS, Lawal Daura, appeared before a Senate panel to discuss the clash between EFCC and DSS officials. The clash began when operatives of the EFCC attempted to arrest former head of NIA, Mr Ayo Oke, and the former DSS DG, Ita Ekpeyong on November 21.

The Federal Government has disclosed that the country, between 1993 and 2017 lost over N7.6 trillion (about $21bn) due to faulty agreements with some multinational oil companies. The Minister of State for Petroleum Resources, Ibe Kachikwu stated this on Wednesday while briefing State House Correspondents after the weekly Federal Executive Council meeting presided over by the Vice President, Prof. Yemi Osinbajo.

Nigeria’s Federal Executive Council has approved the sum of $500million for the award of contracts for rolling stocks, coaches, wagons and locomotives for the Lagos-Ibadan Railways and the Itakpe-Warri Railways. Minister of Transportation, Rotimi Amaechi, stated this while briefing State House Correspondents on the outcome of Wednesday’s cabinet meeting presided over by Vice President Yemi Osinbajo.

The Nigerian Port Authority (NPA) says nine ships laden with petroleum product and other items are waiting to berth across Lagos Ports. The NPA in its 'daily shipping position' released to newsmen on Thursday in Lagos disclosed that out of the nine ships, three contained premium motor spirit. The document further hinted that the remaining six ships were laden with diesel, bulk maize, bulk fertilizer and aviation fuel.

 A former National Publicity Secretary of PDP, Olisa Metuh, has described the party’s newly-elected National Working Committee (NWC) as “one of the best set of national leaders the party has ever produced’’.

Metuh told the News Agency of Nigeria (NAN) on Wednesday in Abuja that he was fully confident that the new NWC would lead the party to victory by 2019.

He said virtually all members of the NWC led by Prince Uche Secondus were experienced in party management and politics, and were well prepared to serve the party.

The Federal Government has perfected plans to amend Section 15 of the Production Sharing Contracts of the deep Offshore Act. This follows the approval of the proposal by the Federal Executive Council during the week's meeting presided over by the Vice President, Prof. Yemi Osinbajo.

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