Nescafé Teams Up With Social Media Week in Nigeria

Nestlé coffee brand Nescafé joins forces with Social Media Week in Lagos, Nigeria to boost and share ideas, innovations and insights into how social media and technology are changing business, society and culture worldwide.

The fourth West African edition of the annual international conference takes place from February 22-26, 2016, highlighting this year’s theme of 'The Networked African: Technology's Impact on Africa (and How We Can Harness it for Good)'.

Oil Could Fall To $20 in 2016 – International Monetary Fund

International Monetary Fund has predicted that crude oil prices may slump to as low as $20 per barrel in 2016.

In the ‘IMF Executive Board Concludes 2015 Article IV Consultation with Iran’ report, the body highlighted that the price of crude oil could drop by between $5 and $15 in 2016.

As of Thursday, the price of crude oil in the international market averaged $37. On December 17, the price fell to $36 per barrel.

The Federal Government 2016 budget had based the 2016 budget on a benchmark oil price of $38 per barrel. If the IMF prediction comes true, the country will be in serious trouble as there won’t be any buffer for the budget.

2016 Nigeria National Budget Is In Response To The Needs of Nigerians – Hon. Sanda

As reactions continue to trail the 2016 budget of N6.08 trn presented by President Muhammadu Buhari to the joint session of National Assembly, member representing Kaga/Gubio/Magumeri federal constituency of Borno State, Hon. Mohammed Sanda has said the budget is in response to the needs of Nigerians.

While speaking with DAILY POST in Abuja, he noted that Nigerians were in absolute need of government that would intervene in areas of youth employment, infrastructural development, diversification of economy, pointing out that these were true reflection of what the party promised to do.

“The budget presented to the two Chambers was a true reflection of the critical needs of the people because it touches youth employment,

Ex-Presidents - Buhari Budgets N2.3 Billion in 2016

Eleven former Presidents, Heads of State and former Vice Presidents/Chiefs of General Staff are to share N2.3 billion as entitlements in 2016.

This was contained in the summary of the proposed budget 2016 presented by President Muhammadu Buhari to the National Assembly on Tuesday.

The former Presidents and former Heads of State are General Yakubu Gowon, Alhaji Shehu Shagari, General Ibrahim Babangida, General Abdulsalam Abubakar, General Olusegun Obasanjo, and Goodluck Jonathan. The former Vice Presidents and former Chiefs of General Staff are Dr. Alex Ekwueme, General Oladipupo Diya, Alhaji Abubakar Atiku and Alhaji Namadi Sambo.

According to the Act which provides for the remuneration of former Presidents and former Vice, each former President and former Head of state is entitled to N350,000 per month, while former Vice Presidents and former Chiefs of General Staff are entitled to N250,000 per month for their up-keep.

Be Prepared, 2016 Will Be Tough – Oshiomhole Tells Nigerians

 

 

Edo State governor, Adams Oshiomhole has predicted a tough time for Nigerians in the coming year.

He said that the Year 2016 will be tough, considering the crisis currently rocking the economy sector.

The governor, however, expressed hope that his government will finish strong despite the economic indicators.

Speaking during a meeting with traditional rulers from Edo Central senatorial district, yesterday, the governor said: “It is clear from all indicators that the

Happening Now: President Buhari Presents 2016 Budget

President Muhammadu Buhari is presenting the 2016 national budget before a joint session of the National Assembly, comprising the Senate and the House of Representatives today, December 22.

The National Assembly complex has been locked down by presidential guards ahead of the presentation.

There are strong indications that lawmakers are ready to ensure that the 2016 Appropriation Bill gets speedy consideration and is passed into law.

Once the budget is presented today by the president, the Senate and the House of Representatives will go to their various chambers to commence work.

As President Buhari Presents 2016 Budget Today

President Muhammadu Buhari will today present the 2016 budget to the National Assembly, the main focus being a major shift from oil as the main source of revenue to mining and new taxes targeting the rich.

The Federal Executive Council yesterday approved the final draft of the N6 trillion budget with an unprecedented capital vote of N2 trillion.

The budget is based on an oil bench mark of $38per barrel and a daily crude oil production of 2.5 million barrels per day.

Experts in Economics and the manufacturing sector yesterday urged the government to increase priority for the capital vote.

The Minister of Information and Culture, Lai Mohammed, said while addressing State House correspondents yesterday after an emergency meeting of the Federal Executive Council (FEC) that the council approved a memo presented by the Minister of Budget and National Planning, Senator Udoma Udo Udoma, seeking the approval of the 2016 budget proposal.

God Will Make 2016 a Bountiful Year-Adeboye

Pastor Enoch Adeboye, the General Overseer, Redeemed Christian Church of God, says closeness to God is the only way for man to triumph over tribulations. He spoke at the 2015 Christmas Carol of the Oyo State Government held on Sunday evening at the Agodi Gardens, Ibadan.

Adeboye said that there was also the need for every living being to secure the love of God to conquer all problems. “If the whole world forsakes you and God is on your side, you will always triumph over all tribulations. “ If God is against you, then you will experience failure through divine resistance.

“Holiness, humility, love and obedience are also necessary to secure the love of God to fly higher,’’ he said. Adeboye prayed for the people, the state and the nation to overcome the array

Remove Fuel Subsidy in 2016  Kachikwu

The Minister of State for Petroleum Resources and Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Dr. Ibe Kachikwu, on Monday revealed that the federal government has concluded plans to remove the subsidy on fuel.

Kachukwu told the Senate/House of Reps joint committee on the Medium Term Expenditure Framework, MTEF, that the subsidy bill was “on the high side.”

He revealed that the country had spent an average of N1trillion per year on fuel subsidy in the last five years despite mounting debts and infrastructural deficit.

According to Kachikwu, “The total subsidy figure for 2015 when taken along with the NNPC will be in excess of N1 trillion. We can get this specifics but the point is largely that it does not involve NNPC because the agency takes its off-cuff.

“We will work towards taking those figures off our budget in 2016. They are critical issues. The current pricing work we are doing had shown that there shouldn’t really be subsidy. The government doesn’t need to subsidise.

“There is energy around the removal of subsidy. Most Nigerians we talk to today would say that’s where to go. I have since left the dictionary of subsidy by going to price modulation which is a bit more technical.

“Price of refined products today is N87. It was N97 before it was reduced and we really have to go back to that because we don’t really have the finance to remove it.

“There are lots of safety barometer between the N87 and N97per litre regime between which government does not have to fund subsidy. Yet the prices would be fairly close to what it used to be today. That is the first mechanism we are going to work.”

Source: Daily Post News