PRESIDENT BUHARI FAILS TO DISCLOSE ₦11.4 TRILLION OIL REMITTANCES

₦11.4 trillion

The Minister of Petroleum, President Buhari has failed to disclose about 11.43 Trillion naira remittances made by international oil and gas companies between 2014 and 2018. An analysis by DATAPHYTE has shown that at least $37.46 billion has been remitted by oil and gas companies from Europe and Canada to government entities in Nigeria. [DATAPHYTE]

N83 trillion

Last week, Nigeria Natural Resource Charter (NNRC) in its Benchmark Exercise Report (BER) revealed that Nigeria has made N83 trillion from oil and gas in the last 37 years. The report, which exposed the lax regulation and poor management of the nation’s oil earnings showed that an average daily crude oil production of 1.9mbpd is being produced in Nigeria.  [THEGUARDIAN]

$580 million

In order to address regional development challenges, the World Bank said it spent $580 million in the three phases of its Africa Centre of Excellence (ACE) projects. The projects cuts across 22 centres in West and Central Africa countries. [PREMIUM TIMES]

$12 million

The Minister of Finance, Zainab Ahmed, has said that the $12 million Nigeria Sovereign Investment Authority (NSIA) – Lagos University Teaching Hospital LUTH Cancer Centre (NLCC) will help to stem the usual practice of medical tourism in the country and treat 80 cancer patients daily. [THEGUARDIAN]

N15 million

The Council for the Regulation of Engineering in Nigeria (COREN) says it intends to start remitting N15 million to the federation account every month. Joseph Odigure, COREN registrar, said this when he appeared before the house of representatives committee on finance in Abuja on Tuesday. [THECABLE]

35% electricity tariff

Nigerians would soon be faced with a 35 per cent hike in electricity tariffs, officials said on Tuesday, as regulators seek to reposition a sector that has been moribund for decades. At an interactive parley with journalists on Tuesday in Abuja, the management of Abuja Electricity Distribution Company (AEDC) said an upward review of prices by federal electricity regulators has commenced. [PREMIUM TIMES]

£7.1 million

The Nigerian High Commission in the United Kingdom has been revealed to owe £7.1m in charges for the year 2018. In a statement titled ‘Debts owed by Diplomatic Missions and International Organisations in the United Kingdom 2018’ released on Tuesday by Secretary of State for Foreign and Commonwealth Affairs…[SAHARA REPORTERS]

7,223 final year students

More than 7,000 final year students in Sokoto state have failed to qualify for the payment of Senior Secondary School Examinations fees by the state government. The state government has been paying NECO and WAEC’s fees for all final year students in public schools across the state. [DAILY TRUST]