World News
Friday, July 21, 2017
Thursday, July 20, 2017
The Federal Government has approved a new policy for the re-organisation of the Nigeria National Petroleum Corporation (NNPC) for efficiency and to enable accountability.
The approval is sequel to a memo presented to the Federal Executive Council (FEC) by the Minister of State, Petroleum, Ibe Kachikwu.
Kachikwu, who briefed State House correspondents at the end of FEC meeting on Wednesday, said the approval would usher in a a new era of oil administration in Nigeria.
He disclosed said his ministry had already began implementing some of the policy.
The Minister said: “We are working assiduously to exit the importation of fuel in 2019 and we also captured the cash calls changes we have done which enables the sector to fund itself through incremental volumes”
“It captured the issues in the Niger Delta and what we needed to do as a government, to focus on stability and consistency in the sector.
“It is a very comprehensive 100-page document that’s deals with all the spectrum in the industry..
“It’s has been 10 Years and you are aware that the dynamics of the oil industry has changed dramatically.
“Apart from the fact of fluidity in pricing and uncertainty in terms of the price regime in crude, we are pushing for a refining processing environment and moving away from exporting as it were to refining petroleum product, that’s one change you will see.
“Secondly how we sell our crude is going to be looked at, there is a lot of geographical market we need to look at in the long term, contracting and sales as opposed to systemic contracting that we have been doing.
“Those are the fundamentals, it’s a document if well executed will fundamentally take the change process that we began in 2015 to its logical conclusion hopefully in the next couple of years,” he said.
By Chijioke Jannah
Wednesday, July 19, 2017
MANDATE TO THE CENTRAL BANK OF NIGERIA: 2ND INSTALMENT
S/N STATE AMOUNT PAYABLE (NGN)
1 ABIA 5715765871.48
2 ADAMAWA 6114300352.68
3 AKWA-IBOM 10000000000
4 ANAMBRA 6121656702.34
5 BAUCHI 6877776561.25
6 BAYELSA 10000000000
7 BENUE 6854671749.25
8 BORNO 7340934865.32
9 CROSS RIVER 6075343946.93
10 DELTA 10000000000
11 EBONYI 4508083379.98
12 EDO 6091126592.49
13 EKITI 4772836647.08
14 ENUGU 5361789409.66
15 GOMBE 4472877698.19
16 IMO 7000805182.97
17 JIGAWA 7107666706.76
18 KADUNA 7721729227.55
19 KANO 10000000000
20 KATSINA 8202130909.85
21 KEBBI 5977499491.45
22 KOGI 6027727595.8
23 KWARA 5120644326.57
24 LAGOS 8371938133.11
25 NASARAWA 4551049171.12
26 NIGER 7210793154.95
27 OGUN 5739374694.46
28 ONDO 7003648314.28
29 OSUN 6314106340.62
30 OYO 7901609864.25
31 PLATEAU 5644079055.41
32 RIVERS 10000000000
33 SOKOTO 6441128546.76
34 TARABA 5612014491.52
35 YOBE 5413103116.59
36 ZAMFARA 5442385594.49
37 FCT 684867500.04