Timipre Sylva, Minister of State for Petroleum Resources The Federal Government has revealed plans to make fuel cheaper by providing alternative petrol, Compressed Natural Gas, CNG, for the common man. Minister of State for Petroleum Resources, Timipre Sylva disclosed that the proposed CNG will cost between N95 to N97 per litre. Addressing newsmen in Abuja on Thursday, Sylva also promised that the Petroleum Industry Bill(PIB) will be passed before May 29, 2020. He disclosed that the CNG fuel has undergone a pilot project in Benin City where over 10,000 vehicles are already running on it. According to Sylva, Nigeria will never experience fuel scarcity again with CNG. He said: “What we have decided is that we should try and give the masses an alternative. This will mo
Dangote Group has concluded plans to purchase 10,000 light pickup trucks. But the company appears to have shunned Nigerian carmaker, Innoson Vehicle Manufacturing, IVM, as trucks are coming in from Indonesia. Putu Juli Ardika, the Indonesian Director of Maritime Industry, Transportation Equipment and Defense Equipment, the vehicles would be purchased by Aliko Dangote through his company, Dangote Group. Ardika explained that the trucks would be imported into Nigeria to serve as means of transportation to rural communities. He said the vehicles would be used by farmers and others in Nigeria’s agricultural value chain, to transport water, cassava, and seed processors. “Dangote’s team will check three units as a sample to be brought to Africa at the end of January.
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Gov. David Umahi of Ebonyi has declared support to the Federal Government’s closure of the nation’s borders, commending President Muhammadu Buhari for his courage in taking the action. Umahi made the declaration on Monday at Onueke, Headquarters of Ezza South Local Government Area (LGA) while declaring open the Central Bank of Nigeria (CBN) Account Opening Week (AOW), adding that the nation would gain tremendously from the closure. Umahi urged Nigerians to weigh the option of consuming poison from foreign produced-rice and ‘killers’ crossing the borders into the country in the name Economic Community of West African States (ECOWAS) treaty. “We should consider the benefits of protecting lives and quote me anywhere, I support the president on the issue of the border cl
To Join Us On More News, Kindly Like Or Follow EAGLE EYES Report On Our FACEBOOK Page, INSTAGRAM or TWITTER By Clicking On The Blue Links. President Muhammadu Buhari has sought Senate’s approval for external loan of $29.96 billion to execute key Infrastructural projects across the country. The Herald gathered that Senate President Ahmad Lawan on Thursday, November 28, read President Buhari’s letter at Plenary. Buhari in the letter said he decided to represent the request for external loan of $29.96billion, part of which was rejected by the Eight National Assembly, to finance key projects in different sectors of the economy. The letter titled: “Request for the National Assembly to reconsider and approve the Federal Government’s 2016-2018 external borrowing plan
The Federal Government on Thursday stressed the need for mobilisation of domestic savings and foreign capital to finance the country’s needs in infrastructure, agriculture, housing SMEs and other services. Prof. Yemi Osinbajo, Nigeria’s Vice President, who stated this in a keynote address delivered at the 2019 FMDQ Nigerian Capital Markets Conference in Lagos, said that Nigeria required more domestic savings capital to grow, develop and attain its potential. “We need to mobilise domestic savings and capital as well as attract the necessary foreign capital to finance our needs in the areas of infrastructure, agriculture, mining, industry, housing, SMEs, “he said. Other sectors where he said such development was also needed include information and communicatio
The Federal Government of Nigeria has declared Monday as Public Holiday to mark the 2019 Eid-ul-Mawlud in commemoration of the birthday of the Holy Prophet Muhammad. Mr Mohammed Manga, Director Press and Public Relations of the Ministry of Interior, announced this in a statement on Thursday in Abuja. He said the Minister of Interior, Ogbeni Rauf Aregbesola, congratulated the Muslim faithful on the occasion and enjoined them to live within the virtues and teachings of the Prophet. According to him, imbibing the Prophet’s virtues of love, courage and perseverance would guarantee peace and security in the country. Aregbesola expressed confidence that the challenges confronting Nigeria at the moment would soon be over. He urged all Nigerians to remain focused and dete
The federal government has given conditions that ECOWAS member states must adhere to before reopening its land borders. Geoffrey Onyeama, foreign affairs minister, gave the conditions during the meeting of inter ministerial committee on the temporary partial closure of land borders held in Abuja on Monday. He said that the conditions were spelt out by the country’s inter-ministerial committee to protect the nation’s economy. Geoffrey Onyeama, Some of the conditions are: Any import coming from outside an ECOWAS region and imported into an ECOWAS member state must maintain its original packaging.They must be escorted from the port directly to the designated entry point in the Nigerian border, presented to the Nigerian customs with their original packaging. C
Chevron is reportedly making plans to sell some of its Nigerian oil assets and focus on growing its shale production in the United States. Reuters reports that the action is part of a decision reached to reshape the company’s portfolio. Discussions are reportedly taking place directly between the company and potential buyers while Chevron is not planning to launch a tender process for the assets at this stage. “Chevron joins rivals including Exxon Mobil and Royal Dutch Shell in drive-by foreign oil companies to reduce their footprint in Africa’s largest oil producer which has been mired in political and security instability in recent years,” the report read. “The San Ramon, the California-based company, Nigeria’s third-largest oil producer, is looking for buy
President Muhammadu Buhari has sent list of nominees for the Board of Niger Delta Development Commission (NDDC) to the Senate. This was disclosed in a letter read by the President of the Senate, Senator Ahmad Lawan during plenary on Tuesday. Buhari also requested for the screening and confirmation of the board members. The NDDC’s Board nominees include the Chairman, Dr. Pius Odubu (Edo); Managing Director, Bernard O. Okumagba (Delta); Executive Director Projects, Engr. Otobong Ndem (Akwa Ibom); Executive Director Finance and Admin, Maxwell Okoh (Bayelsa); Delta State representative, Prophet Jones Erue; Chief Victor Ekhatar (Edo); Dr. Joy Yimebe Nunieh (Rivers); and Nwogu Nwogu Abi’s. Others are Theodore A. Allison (Bayelsa); Victor Antai (Akwa Ibom); Maurice Effi