Islie: … Despite low oil price under-recovery rises by N190bn in two months
Nigeria’s fuel subsidy payments shot up by 1,174 per cent in the wake of the 2019 general elections, as the Nigerian National petroleum Corporation, NNPC, disclosed that it paid N206.585 billion as under recovery in January and February 2019, an increase of N190.37 compared to N16.212 billion recorded in the last two months of 2018.
Nigeria’s 2019 general election took place, February 23 for the presidential and National Assembly elections and March 9 for the governorship and state assemblies’ elections.
Under recovery, also known as fuel subsidy is the cost the NNPC is incurring to subsidise the price of Premium Motor Spirit, PMS, also known as petrol, ensuring that it is sold at fuel retail stations at the regulated price of N145 per litre, even when the real market price is above the regulated price.
Since 2017, the NNPC had been the sole importer of PMS in Nigeria and it deducts cost for under recovery before making remittances to the Federation Account.
Ironically, the naira remained stable within these periods, while the price of crude oil in the international market remained low. In November and December 2018, the price of crude oil in the international market averaged N64.75 per barrel and $57.36 billion per barrel respectively, while in January and February 2019, crude oil price averaged $59.41 per barrel and $63.96 per barrel.
In October 2018, when crude oil hit the 2018 high of $81.03 per barrel, the NNPC recorded under recovery of N40.5 billion.
In its Monthly Financial and Operations Report for May 2019 published yesterday, the NNPC stated that it recorded under recovery of N104.347 billion in January 2019, rising by 682 per cent or N91.011 billion from N13.336 billion recorded in December 2018.
emeijeh: ".....the girl’s father said he had no money to take her to the hospital as he could only boast of N750 at the time the incident happened,” he said".
Poverty wrap this country, I swear! Na airtime money the old man get home and away
When they say that our country has displaced India's huge population of billions to clinch the top spot globally for extreme poverty under the ruinership of barawo bubu and his 40 thieves presidency cabal, his Alliance of Past/Present Criminals, APC zonebees will be forming A_Looter comrades to defend the bloody rogues. Suicide everywhere you go
burner44: Why is it that when someone from Nigeria marries a Foreiger we always assume they are trying to secure green card. As i am Can't i naturally fall in love with a 65 years old American woman by the way I'm 23 .
Not only naturally but also add supernaturally join. You want be like our niggah below wey don japa
liljboy: It’s okay to marry a woman old enough to be your mother, you can still explain that as love, but someone old enough to be your grandmother?
todaynewsreview: The bodies of at least 74 migrants have been washed ashore in western Libya, in the latest tragedy along the dangerous trafficking route to Europe. The Libyan Red Crescent posted photos of dozens of bodies in black and white bags lined up along the shore near the western city of Zawiya. A spokesman for the aid organisation said there were still bodies floating out at sea as the agency had no way of retrieving them. He said the migrants were all adults, mostly from sub-Saharan African countries, and all but three were men. The UN migration agency, the International Organisation of Migration (IOM), said the dinghy had set off on Saturday with 110 people on board. The agency said traffickers deliberately took the engines from the boat and then abandoned it to drift.
Our mods sef [/quote]Not the mods fault Oga. It is the effect of change and next level that your barawo bubu and his Alliance of Past/Present Criminals, APC have used to ruin our country further in just over four years. Don't be like your idol and blame the mods please.
FamousMonk: Question your sister. Pressure her to confess. I think she is no longer fertile and she has lost her womb due to so many abortion attempts.. She strikes me like someone who has an itchy and antsy kpekus. But nevertheless, marriage should be built on love,communication and trust which this union is obviously bereft of. You might just be encouraging her to toe the path of perdition. No sane woman needs a man to survive in this modern day..
What percentage does the only sensible part represent of your entire comment
Are you in love with your own blood sister's boyfriend that you had to create two threads within 2 years to spite her?
Go and get the belle so you can enter obodo oyibo.
Simple!
Case closed
If you like open another thread again next year.
Fish head.
Proper fish head with a bloated sense of entitlement. She had better get a good job and live below her income instead of looking for an abroad man to suck his blood dry when she is not a winsh. Where is the sense of self worth here
martineverest: yes....that's is his intellectual property and his right.its a shame that a Nigerian youth is typing such a comment.it shows u don't know your right
Don't mind the ill-educated people we have in our country these days hence we end up with an incompetent baba who yabs them as lazy youths. How do we get ourselves out of this mess
GavelSlam: The sense of morality, respect for the rule of law and honest civil way of living has been completely eroded in Nigeria.
In Nigeria, anything goes. As a result, even the most educated professional commits social faux pas when in foreign nations. Often times, it takes time to adapt to what is acceptable in their new society even as this is a norm in most places.
A rebirth is necessary for a paradigm shift.
Should we continue like this, destruction wouldn't be far off.
What happened? You are sounding too rational and logical these days. Keep it up.
SignalNG1: December 23, 2015 The Minister of Information and Culture, Alhaji Lai Mohammed, said on Wednesday that the Nigerian military had met the December deadline to defeat the Boko Haram terrorists.
The minister said this during his maiden meeting with editorial heads of media houses in Lagos.
The News Agency of Nigeria (NAN) reports that President Mohammadu Buhari had, upon assuming office, issued a December 31 deadline to the military to defeat the Boko Haram terrorists.
“Today, I can report that the war against Boko Haram is largely won.
“I can confidently say this because just recently, I led a group of 33 journalists from both the local and international media to the hot bed of the insurgency, that is, Maiduguri, Kondugua, Kaoure and Bama.
“Today, I can report to you that the entire 70 plus kilometres stretch from Maiduguri to Bama and all the way to Banki which leads to Cameroun and the Central African Republic are in the hands of our gallant troops.”
He said the military presence could be felt ”every few metres along the road; at a point along that road we were just a kilometre to Sambisa forest.
“They have so degraded the capacity of Boko Haram that the terrorists can no longer hold on to any territory just as they can no longer carry out any spectacular attack.”
Mohammed, however, said that though there were still cases of suicide bombings, it was pertinent to note that such was the nature if insurgency globally.
“Unlike a war between two armies, an insurgency never ends with arms victory
“Even in countries like Colombia where insurgency was supposed to have ended decades ago, attacks like this still happen.”
He said that the insurgents had adopted a new style of attacking soft targets like motor parks, schools, entertainment centres, religious centres, killing innocent people mostly women and children.
He, therefore, urged Nigerians to support the military in the fight against terrorism in the country, saying that the military had availed itself creditably.
“It is our turn as civilians to give them our support; to realise that the war they are fighting is not their war alone, but our war, hence we must own the war.”
The minister disclosed that a national security campaign had commenced to raise awareness among Nigerians about the war, the sacrifices of our troops, and how to stamp out the remnant of the war.
“Jingles are being played on national radio and television as part of the campaign in order to keep the media better informed about the war, so that they can also better inform Nigerians,’’ he said.
Mohammed also said that an ad-hoc committee, comprising media representatives as well as intelligence agencies, would be inaugurated to regularly be updated about the war in order to better inform the public. (NAN)
“Let’s concession this government, its functions and all its arm of government to private companies that have a history of delivering on their promises (aims and objectives).”
This way, we would have relieved this government and its tired set of handlers of all responsibilities, that we see them trying so hard to shed. At least all the elected and appointed politicians can then concentrate on their favorite pass time / area of interest; RENT SEEKING!
What do you think? One stone to kill all the birds once and for all!
Jokers!!!
Can we start with the Aso Rock clinic first so that our maiguard will stop going abroad for long periods of medical tourism after billions given to the state house clinic?
Aso Rock Clinic Gulps N9.17bn In Four Years
Analysis of budgetary allocations in the last four years show that N3.94 billion, N3.87 billion, N331.70 million and N1.03 billion were allocated in 2015, 2016, 2017 and 2018 respectively, for the operations of the State House Medical Centre.
lexy2014: Am sure u still hearing "shut up" in ur head just as if it was yday. All d "shut up" they told u while u were a kid, how they silenced u every time u wanted to speak have made u an emotional wreck. It has made u feel that "shut up" is d first thing u say b4 u say anything. Am not jealous of ur upbringing at all.
U say u won't read. That means u aren't using ur grey matter between ur ears. Try & take ur own advice so u will no whether what was done in d past worked or not
You sef, why do you think that he is glued to the bum of the illiterate, incompetent dullar.d who has wrecked our biggest economy into recession and extreme poverty capital of the world, beating India's 1.5 billion people to the record