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Shell To Focus All Investments On Nigeria

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Royal Dutch Shell has announced that it would focus its operations on Nigeria as it looks into developing its new project (Project Reshape) an to also reduce oil and gas production costs by 40%. The multinational oil and gas company revealed that it would direct the saved costs into more renewable energy investments. Project Reshape would be implemented in all three divisions of the company with the aim of saving $4 billion due to the effect of the COVID-19 pandemic on the industry.

Members of Aviation unions in Lagos have on Monday commenced strike, shutting down operations of Arik Air over alleged non-payment of staff salaries and other issues bothering condition of service since April. The unions comprising of the National Union of Air Transport Employees and Air Transport Senior Staff Services Association of Nigeria alleged that the non-payment of their salaries began following the airline's decision to place 90 percent of the staff on compulsory leave.

The Central Bank of Nigeria (CBN) has flagged and instructed commercial banks to place a Post-No-Debit (PND) on 38 company accounts over suspected forex infractions. According to The Cable, the 38 accounts affected belong to logistics companies, Bureau de Change companies, and betting companies. Among the affected companies include is Premier Lotto owned by Nigerian businessman, Adebutu Kessington, also known as 'Baba Ijebu', 3D Scanners Bureau De Change Limited, Blue Wall Nigeria Limited, JNFX International Limited, Northline Limited, SV Gaming Limited, R&S Lotto Limited.

NLC Fixes Monday For Nationwide Protest Over Hike In Fuel And Electricity Price

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The Nigeria Labour Congress (NLC) has concluded plans to stage nationwide protests from Monday, protest and strike action will commence across the country over the federal government refuses to reverse prices of petrol and electricity tariff. This was revealed by the labour's president Ayuba Wabba after the meeting of National Executive Council on Tuesday in Abuja.

100m Nigerians Will Be Lifted Out Of Poverty - PMB

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President Muhammadu Buhari has set up a Medium-Term National Development Plan (MTNDP) that will see about one hundred million (100m) Nigerians lifted out of poverty within the next 10 years. To achieve this economic milestone without any delay, the president has inaugurated a National Steering Committee to oversee Nigeria’s Agenda 2050.

President Muhammadu Buhari has on Monday defended his reasons for the removal of fuel subsidy, saying the move was done in a bid to save the economy from collapsing, adding that the increase in electricity tariff by Distribution Companies (DisCos) was necessary though not pleasurable. Vice President Yemi Osinbajo made this known while representing the president during the opening ceremony of the 2-day First Year Ministerial Performance Review Retreat, at the State House Conference Centre, Presidential Villa, Abuja.

COVID-19 Update: Nigeria Records 340 New Cases, Toll Now 51,304

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The Nigeria Centre for Disease Control, NCDC, on Friday night confirmed 340 new cases of Coronavirus in Nigeria. Data by NCDC revealed that the latest cases were confirmed in 19 states across the country. Kaduna has the highest number with 63, followed by the Federal Capital Territory, FCT, with 51 and Plateau State with 33. States that made up Friday’s figure include Plateau-38, Lagos-33, Delta-25, Gombe-21, Adamawa-21, Edo-20, Katsina-17, Akwa Ibom-11, Ekiti-10, Rivers-9, Ondo-5, Ebonyi-4, Cross River-3, Ogun-3, Sokoto-2, Imo-2 and Nasarawa-2.

The Nigerian Governors' Forum (NGF) has on Sunday disclosed that state governments would receive $2.5 million performance-based grants as an incentive for implementing tax relief programmes for businesses and individual taxpayers in a bid to ease the impact of the COVID-19 pandemic. This was made known in a statement issued by Abdulrazaque Bello-Barkindo, Head of Media and Public Affairs of the NGF Secretariat in Abuja following a virtual meeting between the forum and the World Bank, adding that the grant will be given to states that met required conditions for the tax relief.

The Federal Government in efforts to control the negative impact of trans-boundary pests on crops has approved an N13 billion intervention fund to also boost agricultural activities. The pest control project in 12 northern states of the federation is aimed at enhancing the national food security amidst the COVID-19 pandemic.

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