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Fed Govt Slightly Reverse The Price of PMS

Queue at the filing station  The President,  Petroleum Products Retailers Owners of Nigeria( PETROAN), Dr Billy Gills Harry, says the reduction of the product, by the Nigerian National Petroleum Company Limited( NNPCL) is good for the nation'struggling economy, as it would help in soften the difficult situations posed by the sharp rise in the price of petroleum products. While reacting to the issue through a statement issued and signed to the NEWSMIRROR yesterday, Harry said that the slight reversal of the price by NNPCL shows that the government is committed to the alleviation of the problems of the masses. According to him, the reduction in the price per litre of Petrol Motoring Spirit( PMS) from N1,020 per litre to N899 per litre is good, adding that the country will soon get over its problem, if the readjustment of the economy continues. Also, PETROAN's Public Relation Officer, Dr  Joseph Obele said that Dangote Petroleum Refinery had earlier started the r...
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Nigeria earns N890m from non-oil exports in 2022

Above: CBN's office. Below: Emiefele 


By Akinola Ajibade



Nigeria has  recorded N890million from the non-oil exports proceeds in 2022, the Governor,  Central Bank of Nigeria (CBN) Mr Godwin Emiefiele has said.

He stated this at the Nigeria International Economic Partnership Forum as part of activities lined up for the United Nations General Assembly meeting soon.

Prior to this period, the country, according to Emiefele, had recorded export repatriation about $64 million in the first quarter of 2022, $622 million in the second quarter, N859 million in the  third quarter,  adding that projections are that by the quarter, the figures would have increased further.

He expressed regret that Nigeria is highly dependent on oil revenue proceeds to support its import obligations.

He said that low revenue inflow from oil sales was responsible for the current foreign exchange crises confronting the country.

The development had led to the massive depreciation of the Naira with an exchange rate of the IE window crashing to N436 to $1.

He said the CBN is addressing the situation with its RT 200 project which will help boost foreign exchange supply with non-oil export repatriation.

He assured that Nigeria is aggressively looking at non-export for foreign exchange proceeds, saying he is certain this would yield the expected results in the months to come.

He added that Nigeria is a country where the country depends on food, and crude revenues to support other sectors, adding that the country is aggressively looking at non-oil exports.

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