Category: Solid Minerals

Fuel Price Drop, CNG Debut, Yet Transport Fares Defy Gravity in Nigeria

Onwuama Arinze Godswill

Fuel Price Drop, CNG Debut, Yet Transport Fares Defy Gravity in Nigeria LAGOS, NIGERIA – Despite a recent dip in petrol pump prices and the government’s ambitious push for Compressed Natural Gas (CNG) as a cheaper alternative fuel, Nigerian commuters are expressing widespread frustration and anger as transportation fares remain stubbornly high across the country. Citizens are questioning the intended benefits of these initiatives, as their daily commute continues to eat deeper into their pockets. For weeks, the news of reduced fuel prices and the touted cost-effectiveness of CNG had…

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Deputy Speaker Advocates Harnessing Mining Sector Potentials for Socioeconomic Development

oluwatobi enitan

In a resounding call for the exploration of untapped resources in Nigeria’s mining sector, Hon. Benjamin Kalu, the Deputy Speaker of the House of Representatives, emphasized the urgent need for harnessing the potentials within the mining industry to drive rapid socioeconomic development. Addressing attendees at a public policy dialogue focused on two pivotal bills organized by the House Committee on Solid Minerals, Hon. Kalu underscored the critical role that the mining sector could play in diversifying the nation’s economy. Nigeria, endowed with over 40 commercially viable minerals, has historically overlooked…

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Federation Account Records a 23% Revenue Decline in Q2’23 – NEITI

oluwatobi enitan

According to the Nigeria Extractive Industries Transparency Initiative (NEITI), the revenue allocated to the Federation Account experienced a substantial 23% decline in the second quarter of 2023 (Q2’23), totaling N2.04 trillion. This marked a decrease from the N2.32 trillion recorded in the first quarter (Q1’23). NEITI’s review reveals that the three tiers of government – the Federal, State, and Local Government Councils – collectively shared a sum of N4.37 trillion as statutory revenue allocations in the first half of the year. This allocation ensured that each tier of government received…

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