With crude oil prices rallying to over $90 a barrel as a result of the Russia/Ukraine spat, Nigeria needs an Oil Bonanza Directorate to channel the extra cash into diversification 


Ayo Akinfe 

[1] Over the last week, crude oil prices have risen to as high as $93 a barrel due to a combination of the Russia/Ukraine spat and the US storm. Basically, Nigeria has been thrown an unexpected lifeline

[2] In Nigeria's 2022 budget presented by President Muhammadu Buhari, economic projections were based on oil production of 1.88m barrels per day at a price of $62 per barrel. This means we are currently getting about $30 a barrel above projections 

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Julius Berger moves into agriculture with the opening of its Epe cashew processing plant

NIGERIAN construction giant Julius Berger has moved ahead with its long-planned diversification into the agriculture sector with the planned opening of its cashew processing plant at Epe in Lagos State.

 

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Bill raising the minimum requirement for all candidates to first degree passes second reading

MEMBERS of the House of Representatives have voted in favour of a bill that will raise the threshold for those wanting to stand in Nigerian executive and legislative elections to a level whereby candidates must have a minimum of a first degree.

 

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Dana Air sued by civil society group for preventing disabled passenger from boarding its flight

DANA Air has been dragged to court by civil society group Disability Rights Protection Initiative (DRPI) who is suing it for N500m in damages after the airline prevented a passenger from boarding one of its planes simply because she was in a wheelchair.

 

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Catholic priest suspended for banning the singing of Igbo songs and choruses in his church

NIGERIA'S Catholic Church has suspended Reverend Father James Anelu the parish priest of the Holy Trinity Catholic Church at Ewu-Owa Gberigbe in Ikorodu in Lagos State for banning Igbo songs and choruses during services.

 

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West Ham plan to raid Glasgow Rangers for Nigerian leftback Calvin Bassey in the summer

ENGLISH Premier League side West Ham are looking to sign Nigerian leftback Calvin Bassey at the end of the season having been impressed with his recent performances with Scottish giants Glasgow Rangers.

 

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I look forward to one of the presidential candidates unveiling a horse production plan as a panacea to the unemployment-fuelled banditry raging across northwest Nigeria

Ayo Akinfe

[1] As Nigeria desperately searches around for potential sources of revenue, can someone please tell me why we have not thought about horses? A horse costs about $2,000 on the open market, so just imagine the revenue we would generate if we exported say 3m of them

[2] Apparently there are 240,000 horses in Nigeria with the bulk of them used by the police and the polo industry. Kaduna in particular has a vibrant horse-owning population but alas, I doubt if we export one horse

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Malami reveals that Nigerian and US governments are discussing the possible extradition of Abba Kyari

 

NIGERIA'S attorney-general Abubakar Malami has revealed that the federal government is engaged in talks with the US over the extradition of the head of the Nigeria Police Force Intelligence Response Team Deputy Police Commissioner Abba Kyari.

 

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Benin Republic authorities renew Sunday Igboho's detention order for another six months

YORUBA  Nation agitator Sunday Adeyemo looks set to spend six more months in detention after the authorities in Benin Republic renewed his detention order under pressure from the Nigerian government.

 

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Political insiders say Buhari is secretly backing CBN governor Godwin Emefiele to succeed him

CENTRAL Bank of Nigeria (CBN) governor Godwin Emefiele is reported to be planning to stand in next year's presidential elections with some political insiders saying that his candidacy has been warmly received by President Muhammadu Buhari.

 

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