FG Plans N2tn Economic Revival Scheme, Inaugurates Council
Photo Credit: Punch Newspapers
The Federal Government has presented the outcomes of its review of the accelerated stabilisation and advancement plan, which seeks to inject N2tn into the economy in the next six months.
President Bola Tinubu on Thursday said his administration is determined to, in the next few months, increase crude oil production to two million barrels per day and generate more electricity for Nigerians.
He described Nigeria’s current power generation and crude oil production as’ shameful’.
Tinubu said this when he inaugurated a 31-member Presidential Economic Coordination Council at the Aso Rock Villa, Abuja, on Thursday.
(Photo Credit: Google)
Obi salutes new UK PM
Photo credit: Punch Newspaper
Former Governor of Anambra State, Peter Obi, has congratulated the United Kingdom Labour Party and its leader, Keir Starmer, for recording a historic victory in Thursday’s election in that country.
The opposition party won a huge parliamentary majority in the country’s general election, unseating the incumbent Conservatives after 14 years.
Obi, who reacted to the development via his official X account on Friday, described the victory as an honour well deserved.
The 2023 Presidential flag bearer of the Labour Party said he hopes the new Prime Minister will follow his campaign promises that made the UK voters give him their mandate.
He said, “I sincerely congratulate Mr. Keir Starmer and the Labour Party UK on the landslide victory they recorded in Thursday’s election. May the victory translate to a better and new chapter for all the UK residents as you remain committed to your electoral promises.
IPPG Advocates Action To Boost Nigeria’s Oil, Gas Production
Photo credit: Leadership news
The Independent Petroleum Producers Group (IPPG) has made an urgent call to action for the oil and gas sector to address dwindling production levels and under-investment.
The call was made by the chairman of IPPG, Abdulrazaq Isa, in his industry keynote address at the 2024 NOG Energy Week in Abuja.
Isa decried the situation where despite having over 37 billion barrels of proven crude oil reserves and significant gas reserves, Nigeria’s daily production has dropped to approximately 1.3 million barrels of oil per day and 8.5 bcf of gas, adding that it was way below the nation’s capacity and by all globally acceptable standards.
“This reserve to production ratio is extremely low and a clear indicator that the industry is in a dire situation posing a risk to the implementation national budget and domestic refining capacity,” Isa stated.
JUST-IN: Federal Gov’t Suspends 10 Private Jet Operators
Photo credit: Leadership news
The Nigeria Civil Aviation Authority (NCAA), on Friday, announced the suspension of 10 private jet operators over failure to commence recertification process.
In a statement posted on the official X handle (formerly Twitter) of the NCAA, @Nigeriacaa, signed by the director, Public Affairs and Consumer Protection, Michael Achimugu, the regulatory agency stated that the Authority had directed all holders of Permit for Non-commercial Flights (PNCF) to undergo re-evaluation which should have been concluded by April 19, 2024.
According to Achimugu, the suspension of the operators was in line with Nigeria Civil Aviation Regulations 2023 Part 18.3.4 which forbids holders of PNCF from using their aircraft for carriage of passengers, cargo or mail for hire or reward, which is commercial operation or charter service.