NEWS

Nigerian Senate embarks on fresh constitution review

The senate on Tuesday set up a 38-member committee to commence a fresh process for the amendment of the 1999 constitution amendment. Announcing the constitution of the committee at plenary in Abuja, Senate President Bukola Saraki said the committee would be headed by Ike Ekweremadu, deputy president of the senate. He said the committee would gather facts from stakeholders across the country as part of the process, urging its members to concentrate on issues that would de-emphasise recurrent expenditure. (more…)

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NEWS

Breakdown of the 2016 Budge

GDP Growth Rate Projection 4.37% Revenue Projection 3.86 Naira Deficit 2.22 trillion Naira (equivalent to 2.16% of Nigeria’s GDP) Oil Related Revenues 820 billion Naira Non-oil Revenues 1.45 trillion Naira  Projected Independent Revenues 1.51 trillion Naira Capital Expenditure 1.8 trillion Naira (30%  of total budget) (more…)

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NEWS

Newly crowned Miss Iraq receives threatening phone call: Join ISIS or else

Iraq's new beauty queen received a threatening phone call on Tuesday telling her to join the ranks of ISIS or she will be kidnapped, according to a report by the Kuwaiti daily al-Watan. Shayma Qassim, 20, won the first beauty pageant to be held in Iraq in 40 years on Saturday. According to the report, following her win, Qassim received a threatening phone call in which she was warned that if she refused to join the ranks of the Islamic State movement she would be kidnapped. (more…)

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NEWS

FG scraps fixed electricity charges, hikes tariff

The Nigerian Electricity Regulatory Commission (NERC) has increased the charges for electricity consumption across the country. In a statement issued by the commission, NERC announced the removal of fixed electricity charges, saying consumers would now have to pay for 'only what they consume.' The development comes less than a week after the House of Representatives asked NERC to halt the plan of increasing tariffs. “Although, the new tariff regimes comes with an increase in energy charges, all electricity consumers (residential as well as commercial) will no longe

by kenneth 0
NEWS

Zimbabwe to make Chinese yuan legal currency after Beijing cancels debts

Zimbabwe has announced that it will make the Chinese yuan legal tender after Beijing confirmed it would cancel $40m in debts. “They [China] said they are cancelling our debts that are maturing this year and we are in the process of finalising the debt instruments and calculating the debts,” minister Patrick Chinamasa said in a statement. Chinamasa also announced that Zimbabwe will officially make the Chinese yuan legal tender as it seeks to increase trade with Beijing. (more…)

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