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For today, May 4 2016:


Nigeria loses N1.7 trillion deals to non-passage of PIB
Indications have emerged that Nigeria will export about 52 cargoes of crude oil in June, representing a drop from 55 cargoes slated for May in the futures market. READ MORE

Power sector records four system collapses in four weeks
The nation’s power sector is apparently characterised with numerous challenges that have continued to halt power evacuation and supply to the yearning consumers. Indeed, the transmission grid has recorded no fewer than four system collapses in four weeks. READ MORE

Nigeria loses N1.7 trillion deals to non-passage of PIB
Nigeria has lost estimated $10 billion (N1.7 trillion) fresh investments to the non-passage of the Petroleum Industry Bill (PIB). The Chairman of Petroleum Technology Association of Nigeria (PETAN), Bank Anthony Okoroafor, who made the disclosure at the on-going Offshore Technology Conference (OTC) in Houston, Texas in the United States (U.S.) said Nigeria lost a huge opportunity by not passing the bill when the oil price was high. READ MORE


Life in Nimbo after herdsmen attack
Life is gradually returning to the troubled Nimbo Community in Uzo Uwani Local Government, following the attack on the people by Fulani herdsmen, leading to the death of over 40 people, including a member of the National Youth Service Corps, NYSC, and a teacher, penultimate Monday. READ MORE

Alleged N32bn fraud: FG fails to produce Dasuki in court
ABUJA — Justice Hussein Baba Yusuf of an Abuja High Court at Maitama, yesterday, adjourned trial of erstwhile National Security Adviser, NSA, Col. Sambo Dasuki (retd), till May 23. READ MORE

We work for politicians —Robbery suspect
A 29-year-old tricycle operator, who was arrested by the Lagos State Police Command,  has alleged that some of the arms used by robbers were given to them by politicians during campaigns. READ MORE


Mimiko, Fayose in battle for Southwest PDP’s soul
The National Auditor of the Peoples Democratic Party (PDP), Alhaji Adewole Adeyanju, yesterday described the suspension of Ogun State Chairman Chief Adedayo Dayo, by the State Working Committee as illegal and unconstitutional. READ MORE

Killings: Okorocha, Shettima, others visit Ugwuanyi
All Progressives Congress (APC) governors were in Enugu State yesterday to condole with Governor Ifeanyi Ugwuanyi on the killings by suspected Fulani herdsmen at Ukpabi Nimbo in Uzo-Uwani Local Government Area. READ MORE

Trouble hits Edo Assembly as two claim Speaker’s seat
A group, the Edo For Good Governance (EGG), yesterday alleged that the removal of the speaker and the deputy speaker of the Edo House of Assembly is a prelude to the impeachment of Deputy Governor Pius Odubu. It urged President Muhammadu Buhari to call Governor Adams Oshiomhole to order. The governor, said the group, “should allow one-man-one-vote”. READ MORE


Fall in PMI below 50 confirms manufacturing sector’s crisis
A slump in headline reading of the Purchasing Managers Index (PMI) to 46.5 in April 2016 from 54.4 percent in March, may be signalling that Africa’s largest economy is in worse shape than previously thought. Three of the five sub-indices used for the PMI reading were in negative territory, leaving only two in the positive, according… READ MORE

Buhari receives clean copy of 2016 budget for assent
President Muhammadu Buhari may have finally received the clean copy of the 2016 budget for possibly assent tomorrow or  Friday, weeks after he refused to sign the document over alleged padding of figures by the National Assembly. Already, Aso Rock received a preview copy of the document on Monday night, a highly placed source told… READ MORE

FG to review tariffs in oil & gas sector
Investors in the oil and gas industry may soon heave a sigh of relief  with respect to ease of doing business, as the Federal Government says it is set to review tariffs in the sector. Government was not specific about areas where the tariffs  would be reviewed but  stated that  it has concluded plans to… READ MORE

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