Governors of the oil producing states in the South-South wasted a total of N7.282 trillion in the past 13 years, being petroleum derivation revenues received from the Federation Account, elder statesman Edwin Clark has said. Clark, a one-time information minister in the 1970s, said it was regretful that even though these funds were meant for Continue Reading...
FG fails to curb fuel scarcity despite N161bn subsidy approval
The persistent fuel scarcity in the country continued throughout the two-day Christ-mas festivities in the country despite the National Assembly approval of President Goodluck Jonathan’s request for additional N161.6 billion for subsidy payment ahead of the Yuletide. Jonathan had in a request letter to the Senate and the House of Representatives asked for expeditious consideration Continue Reading...
Egyptian President signs Islamist constitution into law
Egyptian President Mohamed Mursi signed into law a new constitution shaped by his Islamist allies, a bitterly contested document which he insists will help end political turmoil and allow him to focus on fixing the economy, Reuters reports. Anxiety about a deepening political and economic crisis has gripped Egypt in past weeks, with many people Continue Reading...