Reps Probe 77 Oil Firms Over Unremitted N2.6trn Revenue   The House of Representatives, on Tuesday, commenced investigative hearing on the N2.6tn owed the Federal Government by 77 oil companies operating in Nigeria. The House is acting on the 2019 report of the Nigeria Extractive Industry Transparency...

Reps Grill Amaechi, BPE Officials Over $214m Deep Blue Contract   The Bureau of Public Procurement (BPE) has told the House of Representatives’ Committee on Navy that it does not possess the documents presented by the HSL International Limited, which the Federal Government awarded the ‘Deep...

IMF: 93% of FG's Revenue In 2022 Will Be Spent On Interest The International Monetary Fund projected that Nigeria might pay 93 percent of its revenue to repay its debts by 2022. The Fund also predicted that by 2026, 139 per cent of the nation's income...

'Local Insurers Lose $60m Yearly To Foreign Vessels'   An Executive Partner, Alfam Insurance Plc, Gbolaham Adu, has said indigenous insurance companies lose about $60m of potential annual revenue to their foreign counterparts. According to him, this is because foreign-owned tankers lifting crude in the nation do...

N1.24bn approved for gratuities and death benefits by El-Rufai Kaduna state governor Nasir El-Rufai has approved N1.24 billion for the payment of gratuities and death benefits to state workers and their dependents. Currently, all state and local government retirees and the families of deceased beneficiaries that...