The Federal Government has disclosed that the country, between 1993 and 2017 lost over N7.6 trillion (about $21bn) due to faulty agreements with some multinational oil companies. The Minister of State for Petroleum Resources, Ibe Kachikwu stated this on Wednesday while briefing State House Correspondents after the weekly Federal Executive Council meeting presided over by the Vice President, Prof. Yemi Osinbajo.

Nigeria’s Federal Executive Council has approved the sum of $500million for the award of contracts for rolling stocks, coaches, wagons and locomotives for the Lagos-Ibadan Railways and the Itakpe-Warri Railways. Minister of Transportation, Rotimi Amaechi, stated this while briefing State House Correspondents on the outcome of Wednesday’s cabinet meeting presided over by Vice President Yemi Osinbajo.

The Nigerian Ports Authority has debunked media reports that there is ongoing secret recruitment in the organization. In a statement released to newsmen by Abdullahi Goje on Wednesday in Lagos, the Authority claimed that the December 11 report published by Daily Sun titled 'NPA Commences secret staff recruitment" was misleading as the recruitment process being referred to started since 2016.

 A former National Publicity Secretary of PDP, Olisa Metuh, has described the party’s newly-elected National Working Committee (NWC) as “one of the best set of national leaders the party has ever produced’’.

Metuh told the News Agency of Nigeria (NAN) on Wednesday in Abuja that he was fully confident that the new NWC would lead the party to victory by 2019.

He said virtually all members of the NWC led by Prince Uche Secondus were experienced in party management and politics, and were well prepared to serve the party.

The Federal Government has perfected plans to amend Section 15 of the Production Sharing Contracts of the deep Offshore Act. This follows the approval of the proposal by the Federal Executive Council during the week's meeting presided over by the Vice President, Prof. Yemi Osinbajo.

Bola Tinubu, national leader of the All Progressives Congress (APC), says he is not planning to replace Vice-President Yemi Osinbajo. Tinubu said this in response to a report that he may be picked as the running mate of President Muhammadu Buhari in 2019. Buhari and Tinubu fell out shortly after the 2015 election but both men have been holding frequent meetings of late.