The Finance Minister, Mrs. Kemi Adeosun has said that the federal government would not make deductions from states’ Federation Account allocations for the month of March on their restructured loans so as to allow them pay their workers’ salaries. Briefing journalists yesterday at the end of a meeting of the National Economic Council (NEC) which held at the State House in Abuja, Adeosun said that the decision to stop the deductions was informed by the fact that states do not have enough resources to meet their obligations. She, however, ruled out a second bail out for the states, stressing that…
Author: Pride Team
Minister of Finance, Mrs. Kemi Adeosun, has said that the Federal Government will address the low performance of the insurance sector. She said this during the West African Insurance Companies’ Association educational conference in Lagos . Adeosun said, “The commonly used index of measuring the development of insurance in an economy is market penetration, which is the ratio of total insurance premiums to the Gross Domestic Product. Sadly, this is less than one per cent in Nigeria. “As a government, we are committed to identifying the challenges and taking steps to address the current poor performance of insurance in the…
Activities at the Lagos ports have gradually come to a grinding halt as the foreign exchange restrictions announced last year by the Federal Government takes a heavy toll on the nation’s economy. This situation has left many who depend on Africa’s hitherto busiest ports for living to idle away. The Nigerian Ports Authority recently released a report of its performance, with the Managing Director, Habib Abdullahi, saying the number of ocean-going vessels that called at the ports had declined by 8.1 per cent. He said a total of 5,090 vessels “called at the ports in 2015, which is a decrease…
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LAUGH QUOTE Having children makes you no more a parent than having a piano makes you a musician. WISE GUYS ANSWER TO STUPID QUESTION QUESTION: What’s wrong with Lawyer jokes? WISE GUY: Lawyers don’t think they’re funny, and nobody else thinks they’re jokes. CUTTING COMMENT “The old system of having a baby was much better than the new system, the old system being characterized by the fact that the man didn’t have to watch.” – Dave Barry MARRIED LIFE NON FOR THE ROAD An old man is lying on his deathbed with his children, grandchildren, and older great-grandchildren all around,…
“Courting is one of those old fashioned words that no longer fits comfortably into today’s vocabulary. It invokes images of couples holding hands in an age of sex-free innocence. But, then, as in now, it is still about the search for ‘That Special Someone’. And, today, there may be no need for such physical contact as ‘hand holding’, as falling in love with your significant other can be done over the Internet.” This was the beginning of an article on “Love In An Internet Age: Real or Virtual”. – https://pridemagazineng.com/love-in-an-internet-age/ The issue one wants to examine in this article is:…
In anticipation of the biggest architectural showcase in Lagos, Open House Lagos has revealed the buildings to be visited during the 3 day tour. Under the guidance of professional buildings tour guides, registered participants will be given free access to the following buildings: Nigerian Railway Compound – selected houses, Locomotive Shed, British Council, Ikoyi, Bogobiri House, Ikoyi, Alara Store, Victoria Island, Plot G9, Banana Island, Radisson Blue Hotel, Victoria Island, Malaika Mews, Lekki, Maison Fahrenheit, Victoria Island, Freedom Park, Nestoil Tower, GTBank UNILAG Alumni Building,German Consulate, Makoko Hotspot, St Geroge’s Hall, Central Mosque, House on The Rock, Victoria Island, Churchgate…
Shell Petroleum Development Company (SPDC) and the Joint Venture (JV) partners remitted $42 billion to the Nigerian Government between 2011 and 2015. Royal Dutch Shell’s 2015 Sustainability Report stated the oil giant also paid royalties and corporate taxes worth $1.1 billion to the Nigerian government last year. It added that of the amount, Shell paid $0.6 billion and its subsidiary, Shell Nigeria Exploration and Production Company (SNEPCo), paid $0.5 billion. The report also said that Shell Companies in Nigeria (SCiN) awarded 93 percent of its total contracts during the year under review to indigenous firms and spent $0.9 billion on…
World Bank had raised its forecast for crude oil prices in 2016 to 41 U.S. dollars per barrel, saying that the oversupply in markets is expected to recede, In its latest Commodity Markets Outlook report, the Washington-based global lender raised its forecast for crude oil prices this year to 41 dollars per barrel from its January’s forecast of 37 dollars per barrel. The upgrade reflected the improving market sentiment and a weakening dollar, and the World Bank also expected the oversupply would become eased. “We expect slightly higher prices for energy commodities over the course of the year as markets…