Oil Slump: Allocation To States, LGs To Drop By N32bn

 The decline in the price of crude oil in the international market may have led to a reduction in the 2015 allocation to states and local governments from N3.969tn in the 2014 budget to N3.937tn in 2015. The proposal, which is contained in the revised 2015-2017 Medium Term Expenditure Framework sent by President Goodluck Jonathan to the National Assembly, is N31.91bn lower than the amount approved...

Read More »

Falling Oil Prices: Jonathan Calls For Collaboration Between Oil Producing Countries

   President Goodluck Jonathan has implored oil producing countries to cooperate more and work together to surmount the present challenge of falling crude oil prices. The President made the comments while meeting with Angola’s new Ambassador to Nigeria, Eustaquio Janeiero Quibato. He stated that African oil producing countries particularly needed to come together and decide on the best...

Read More »

Shell To Spend N2bn On Centenary Projects In Nigeria

   Shell has announced plans to carry out three developmental projects in Nigeria, worth about N2 billion, to mark Nigeria’s 100 years of nation hood. The projects, according to a statement by the company, are a 200-seater library in Port Harcourt, Rivers State, a health project at Oloibiri, Bayelsa State and upgrade of athletics infrastructure in five secondary schools in Delta State. Mr....

Read More »