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16
Thu, May

The World Food Programme (WFP) of the United Nations (UN) on Wednesday through a statement informed that Nigeria may loss 13 million jobs as a result of the COVID-19 global pandemic. WFP's Senior Spokesperson, Elizabeth Byrs who made the disclosure noted that more than $182m is needed to sustain life-saving aid to Nigeria over the next six months.

President Muhammad has approved the nomination of Nigeria's former two-term Minister of Finance and current Chairperson of Global Alliance for Vaccines and Immunization (GAVI), Dr. Ngozi Okonjo-Iweala, for the position of Director-General of the World Trade Organisation (WTO).

Imo State Government Suspends Payment Of Pensions To ex-Public Office Holders

Imo state Governor Hope Uzodinma has assented to a bill repealing the law that created pension allowances and gratuities for ex-public Office Holders like governors, deputy governors, assembly speakers and deputy speakers. He noted that the erstwhile law runs contrary to the 1999 constitution as amended, which stipulates that a pensioner must have worked for at least 10 years and must be up to 45 years of age.

The Federal Government has on Wednesday disbursed N43,416 billion ($120.6 million) to 24 States as a performance-based grant under the World Bank-Assisted States Fiscal Transparency, Accountability and Sustainability (SFTAS).

Following the expiration of the appointment of members of the Nigeria National Petroleum Corporation (NNPC) Board, which commenced in 2016,  President Muhammadu Buhari has approved the reconstitution of the board.

Oil Prices Bounces Back, Commences Trading At 3.27% Increase

Oil prices have bounced back after suffering an all-time low when it traded in negative numbers and below zero(0). The WTI is now trading well above $14pb which is a 14.4% increase while Brent is currently trading above $21.13pb which is a 3.27% increase. This increase in price is coming a day after sell-off provoked by a major fund selling its short-term holdings of the commodity amid virus-triggered storage concerns.

President Muhammadu Buhari has said the ongoing Mambila power plant project, upon completion, will provide power to over 10 million households. Buhari made the disclosure in an article in Newsweek Magazine, saying the factors hindering the power plant project have been sorted since the ruling of the International Court of Arbitration in Paris, France.

The Federal Government has announced the extension of airport closure by two weeks. The announcement was contained in a statement issued in Abuja yesterday by the honorable Minister of Aviation Hadi Sirika, through the director of Public Affairs in the Ministry of Aviation, James Odaudu.

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