FG bond auction raises N80bn, less than amount on offer

The Federal Government raised N79.62 billion at an auction of government bonds on Wednesday, less than it originally planned, after it got fewer subscriptions for the most liquid five-year debt, traders said yesterday. The Debt Management Office (DMO) initially intended to raise N100 billion. It got subscriptions of N117.58 billion, more than half skewed towards the 10-year bond. The DMO sold N27.18 billion in five-year bonds at 13.70 percent and N52.44 billion in 10- year debt at 13.98 percent. The five-year bond is due in 2021, the 10-year, a new…

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Udom’s achievements: Federal Government’s gains

Those who have stoutly refused to acknowledge the gigantic development strides of the Udom administration these past 30 months need to look at the Midterm Report of President Muhammadu Buhari’s administration entitled “The Power of Change”, and printed and published in 2017 by the Office of the Special Adviser to the President on Political Affairs. The humongous document which has 651 pages and edited by Jimmy Imo with a Foreword by Senator Babafemi Ojudu, the Special Adviser on Political Affairs is classified into parts and designed to cover the achievements…

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Loan: FG targets 1m SMEs

The Federal Government is targeting at least one million small businesses across the country to benefit from the ‘marketmoni’ loan as one of the practical ways of making Nigeria great again. Vice President, Professor Yemi Osinbajo made this known to participants at a special clinic organised for small and medium scale enterprises in Ilorin, Kwara State. The vice-president warned the beneficiaries not to see the facility as political largesse as he promised that the Muhammad Buhari-led administration will deliver on all its promises to the sector across the country. Osinbajo…

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US court halts two executions

  The top court in Arkansas has halted two executions that were due to start a series of seven in 11 days. The state’s Supreme Court acted hours before convicted murderers Don Davis and Bruce Ward were due to die, but the Davis decision could yet be reversed. Their lawyers had argued they were mentally unfit to face execution and were denied proper assessment. But there was a victory for the state when a federal court lifted an order that blocked all seven executions. A blanket ruling made on Saturday…

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Local oil firms walking a tight rope

Indigenous firms are the worst-hit by myriads of challenges bedeviling the oil and gas industry. ADEOLA YUSUF reports on how many of them are running into bankruptcy     Aiteo, an indigenous oil firm, made the headlines penultimate week; basking in the euphoria of its new status as the biggest Nigerian- owned oil firm in terms of production, hitherto known by many as the petroleum product trading firm, it announced the production of the largest share of the 313,602 barrels per day output from indigenous companies. The firm’s management cannot…

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Sustained development for Etche

As at May 29, 2015 when the good people of Rivers State rightly expelled the All Progressives Congress ( APC) from government, the people of Etche Ethnic Nationality were one of the most neglected communities. They were denied developmental projects, appointments and respect from their own state government. Due to no fault of theirs, they were degraded to second class citizens in a state where they served as food basket and also have some of the critical oil producing communities. Their situation was worsened by the fact that Etche APC…

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Karamajiji: A forgotten beggars’ colony

Some years ago, the then Minister of the Federal Capital Territory Administration (FCTA), Nasir el-Rufai considered beggars a nuisance on the streets of Abuja and decided to forcefully evacuate them to a “special location”. The idea was to give Abuja, the Capital City, a facelift. However, many years after, the vision appears to have been derailed. CALEB ONWE reports     Karamajiji, a sprawling ghetto is home to both Gwari aborigines and other tribes, especially, low income earners. It is hidden right behind the National Military Cemetery, a few metres…

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Furore over WAEC’s new examination diet

DISAGREEMENT Less than one week that the West African Examinations Council (WAEC) unfolded plans to introduce a new diet for external candidates, key stakeholders have faulted the move, kicking that it would not see the light of the day   While Nigerian students and their parents are yet to recover from the confusion generated by this year’s Unified Tertiary Matriculation Examination (UTME) registration, the West African Examinations Council (WAEC), last week, introduced a new diet in its examinations, which has continued to generate debate among stakeholders. With the new diet,…

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Ogoni clean-up is all noise, says Niger Delta monarch

Chairman, Ogoni Council of Traditional Rulers, His Royal Highness, King Suanu Baridam, the Kasimene Bangha VII, yesterday said that the Ogoni cleanup exercise that was launched by the administration of President Muhammadu Buhari in the Niger Delta, was all noise as there was no sign to suggest that the government was serious with the exercise. Already, reports said some concerned citizens in the region would be filing legal action against the Federal Government at an Abuja high court today. Also, our visit to the devastated communities revealed so much worries…

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Is Arik slipping into oblivion?

Government is at a crossroads on what to do with Arik Air, having injected N1.5 billion since it took over the carrier. It’s time to take far reaching decision on the airline’s future, writes WOLE SHADARE   Arik on life support For those who don’t know, Arik Air is currently dying a slow death and here are some of the signs. The airline has just five aircraft from the over 29 it acquired when it made a debut 10 years ago. It purportedly came with a difference with state-of-the-art aircraft,…

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