Nigeria’s ECA, foreign reserves rise as fuel scarcity looms over rising oil price
Following US President’s pullout from Iran nuclear deal on Tuesday, crude oil price jumped to $77.80 to become the highest in years. Otherwise, oil prices clocked up more multi-year highs on Thursday as traders adjusted to the prospects of renewed…
Start deducting oil states’ 13% derivation immediately oil is sold—N’Delta Chief
Barring any last minute change of mind, a consortium of Niger Delta Chiefs may be heading to a federal High Court to seek interpretation on how and when the statutory 13 per cent derivation from crude oil proceeds shall be…
For Army to say ‘We Have Completely Defeated B/Haram’ means no need for $1bn
Reasons for strong opposition against the sudden decision of the federal government to dip hands into the Excess Crude Account (ECA) and move $1bn for fighting Boko Haram insurgency have emerged from the Theatre Commander, Operation Lafiya Dole, Maj. Gen….
FG earns $177.5m daily, 112.5m for FAC, 65m for ECA since oil rose to $71
As Nigeria’s oil production hits 2.5mb/d, it means that crude production now stands 1.8 million barrel per day without condensate, and 2.5million per day with condensate. This was the revelation of the Group Managing Director of Nigerian National Petroleum Corporation…
Marketers’ insist inability to sell fuel at N145 after landing cost of N171
Several oil and gas analysts had before now explained that Nigeria is a nation where rising global oil prices comes with dual regime: the regime of happiness and regime of frustrations. But most of the time, the associated frustrations outsmart…
Releasing $1bn from ECA without deducting the 13% derivation actionable—Dickson
…As confusion trials non- listing of debate in Senate on Thursday A new twist is emerging from the recent announcement by the federal government that it the National Economic Council has approved the release of $1bn to deepen the fight…
N’East: Hunger drops for the first time since Boko Haram crisis—Report
More reasons the doubt the reasonability and defence of the approval given for the withdrawal of $1bn from the Excess Crude Account (ECA), to fight already degraded insurgency are still emerging. On Wednesday, Cadre Harmonisé food security analysis released a…
$1b for B’Haram: Another Dasukigate underway for 2019 election?
Since the sudden announcement by the National Economic Council (NEC) that Governors and federal government have agreed to deflect the Excess Crude Account (ECA) to the tune of $1bn for the fortification of the fight against insurgency in the North…
Govs accept withdrawal of $1bn from ECA to fight terrorism, others
Barely one week after a security official of the African Union (AU), warned African nations to brace up surveillance against returning Islamic State’s (ISIS) fighters after the liberation of Iraq and Syria, the National Economic Council (NEC), on Thursday concurred…
‘Non-disclosure of opening, closing balances of FRC account dangerous’
Forensic analysts in financial accounting have expressed worry on the observed non-disclosure of the opening and closing balances of the Fiscal Responsibility Commission (FRC) account, saying the scenario had made full appraisal of the account impossible. In their views, the…
