Day: November 24, 2017

Nigeria went into recession because authorities ignored our data – NBS

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Nigeria’s economy went into recession in 2016 because relevant authorities largely ignored data released by the National Bureau of Statistics (NBS) pointing out that the economy was heading in the wrong direction. Speaking at the 2017 African Statistics Day held in Abuja, yesterday, the Statistician General of the Federation, Dr. Yemi Kale, said the NBS was proactive in identifying the dysfunctional state of the economy but the warning signs were ignored. “Prior to our entry into recession in the 3rd quarter of 2015, careful monitoring and application of the data…

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Refineries won’t work despite federal govt’s spending – marketers

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Oil marketers on Thursday declared that the country’s refineries would not work as expected despite the billions of dollars being spent by the Federal Government on rehabilitating the facilities. According to the Major Oil Marketers Association of Nigeria, a body consisting of big players in the oil and gas sector, the billions of dollars pumped into the rehabilitation of refineries by the government are just being wasted. The body also announced that the Asset Management Corporation of Nigeria and Deposit Money Banks had seized more than 15 tank farms belonging…

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Leicester City set to offload Ahmed Musa in January

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Leicester’s former record signings Ahmed Musa and Leonardo Ulloa look as though they will be sold in January, according to The Sun. New boss Claude Puel is planning a New Year shake-up and Musa, who cost £16.6m, and Ulloa, £8m, are thought to top his exit list. Super Eagles winger Musa was signed from CSKA Moscow in July, 2016. He has made just 14 starts and 19 appearances on the bench for the Foxes, scoring four times. Yohan Benalouane, who cost £5m, is also in line for the chop. The…

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Oba of Benin visits Abuja, first after 2016 coronation

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The Benin monarch, Oba Ewuare II, has arrived in Abuja, the first visit since his coronation in October 2016. The Oba who arrived the Nnamdi Azikiwe International Airport at about 5:05p.m. on Wednesday. He was received by some Benin traditional chiefs, prominent Benin indigenes and friends. Chief Odigie Oyegun, Chairman of the All Progressives Congress (APC), one of the Edo indigene at the Airport to receive the Monarch, said that the visit was historic being his first after his coronation. “The Oba’s visit is bringing peace, hope to the country…

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New minimum wage: Buhari appoints 30 man-committee for negotiation [Full list]

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President Muhammadu Buhari on Thursday approved the appointment of a 30-member tripartite National Minimum Wage Committee for the negotiation of a new National Minimum Wage.  The Committee will be inaugurated on Monday 27th November, 2017 at the Council Chambers, Aso Rock Presidential Villa, Sate House, Abuja. The committee is made up of persons from the public sector, (Federal and State Governments) and the private sector, made up of the largest private employer group, as well as the Nigeria Employers Consultative Association (NECA). Other members include the Manufacturers Association of…

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States get N28.8b loan support

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President Muhammadu Buhari has approved the release of N28.8 billion for the 36 states as part of the Budget Support Loan Facility. Each of the states will get N600 million. The Minister of Budget and National Planning, Sen. Udoma Udo udoma, told State House correspondents, alongside Gov. Rotimi Akeredolu of Ondo, on the outcome of the meeting of the National Economic Council (NEC) in the Presidential Villa, Abuja. Udoma said the Accountant General of the Federation reported to the Council that approval for the payment of the amount had been…

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Nassar US team doctor jail-bound for sexual abuse

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Larry Nassar, the disgraced former USA Gymnastics team doctor, would inescapably be sentenced to a long time in jail next January, after pleading guilty to seven counts of first-degree criminal sexual conduct. His trial held at a Michigan court on Wednesday In a press statement Michigan Attorney General Bill Schuette said Nassar had pleaded guilty in Michigan’s Ingham County court to felony criminal sexual conduct related to abuse under the guise of medical treatment Nassar’s sentencing hearing has been set for January 12 when all of the 125 victims or…

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