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Controversy trails concession, sale of Enugu coal blocks
Controversy has trailed the alleged concession or sale of some coal blocks at Enugu Coal Mines in Enugu. This came at a time power generation has not exceeded 3,500 megawatts, MW, for a country with a population of not fewer than 150 million. Before now, Enugu State had claimed that the Bureau of Public Enterprises, BPE, concessioned and sold coal blocks in the state for renewable energy. However, BPE alleged that the sale was stopped by the Ministry of Solid Minerals Development, which denied the allegation, as it insisted that it only gave professional advice. Vanguard
Teachers dare Ajimobi, refuse to obey resumption order
Secondary school teachers in Oyo State refused to go to schools despite the state government order that the schools be reopened after a month of closure.
On Saturday, Governor Abiola Ajimobi, through the state Commissioner for Information, Culture and Tourism, Toye Arulogun, directed that the schools should reopen on Monday, except 17 others whose pupils were involved in the demonstration against the proposed private partners’ involvement in the management of some public secondary schools in the state. Punch
Import duties soar over new forex rules
Customs, agents differ over alleged secrecy in tariff structure, graft
Duties on shipping business at the ports have shot up astronomically in the wake of the new flexible foreign exchange rate policy of the Central Bank of Nigeria (CBN).
Already, the Federal Government has launched the implementation of the new policy, which customs and clearing agents lament has hiked duties by about 40 per cent.
The Nigeria Customs Service (NCS) had through a memo issued to all zonal co-ordinators and area controllers on July 1, 2016 directed that all commands should begin to charge duties based on the new foreign exchange regime. Guardian
Court Vacates Order to Take over Jimoh Ibrahim’s Companies
Justice Abdulazeez Anka of the Federal High Court in Lagos yesterday vacated the interim order granted to the Assets Management Corporation of Nigeria (AMCON) to take over some assets belonging to businessman, Mr. Jimoh Ibrahim, over his alleged indebtedness to the corporation. Thisday
Nigerian universities fail to make list of world’s top 1,000
The Centre for World University Rankings (CWUR) has just released its 2016 ranking of universities across the world.
Sadly, no university in Nigeria made the list of the world’s top 1,000.
The ranking, released on Monday, placed Harvard University, United States, on top as the best higher institution in the world, followed by Stanford University, also in the U.S.
Another school in the U.S, the Massachusetts Institute of Technology, is the third best in the world.
Two universities in the United Kingdom, University of Cambridge and the University of Oxford, are ranked fourth and fifth respectively. Premium Times
Presidency questions ‘accuracy’ of Benue massacre reports
The presidency says it is checking the accuracy of reports claiming that 81 people were killed by herdsmen in Benue state.
The presidency, through its digital communications office, said on Monday that the some of the pictures in circulation were from the genocide in Congo, back in 2014.
The digital communications arm of the presidency said the Nigerian police is currently investigating the reports and would release a statement shortly. The Cable
Business News
Insurance Firms Need To Recapitalize — Adeosun
NINE years after the last recapitalisation exercise in the nation’s insurance industry, the Minister of Finance, Mrs. Kemi Adeosun, yesterday said that the sector was due for another round of recapitalisation following the need to reposition it. Vanguard
N38bn loss: Oando counters Ernst & Young concern over future
Auditing and services company, Ernst & Young, has raised concerns over the soundness of Oando Plc, stating that the current financial position of the company may cast significant doubts on its ability to continue as a going concern. Ernst & Young, stated this in its Independent Auditors’ Report to the Members of Oando Plc, contained in the company’s ‘Annual Reports, Consolidated and Separate Financial Statements’, for the year ended, December 21, 2015. Vanguard
FG, oil workers’ meeting continues today
The meeting between representatives of the Federal Government and oil workers in Abuja on Monday was inconclusive as both groups agreed to continue deliberations today (Tuesday).
As a result, the ongoing industrial action embarked upon by members of the Petroleum and Natural Gas Senior Staff Association of Nigeria since Thursday is still in force.
Although some resolutions were reached by both groups at the meeting, the Minister of Labour and Employment, Dr. Chris Ngige, told journalists that there was an outstanding matter that was not settled and this was due to the absence of the international oil companies at the meeting. Punch
Government saves N139b from new fuel pricing policy
By pegging the price of Premium Motor Spirit (PMS) at N145 a litre, the Federal Government has in the last two months saved about N139 billion from subsidy removal.
Before the introduction of the current pricing template of the Petroleum Product Pricing Regulatory Agency (PPPRA), a litre of petrol was selling at N86.50, estimates showed that the government would have been subsidizing the product with about N58 per litre. Guardian
