NIGERIAN OIL REVENUE DROPS TO N1.1 TRILLION JUST IN A YEAR

Nigeria's oil revenue drops
N1.1 trillion in one year


– The Nigerian economy has had a rough
time plummeting
– Oil revenue has been the key factor
affecting the economy, as reports show a
drop of about N1.1 trillion
– Analysis show that Nigeria incurred a
huge loss in the 2015 fiscal year
Data obtained from the Central Bank of
Nigeria (CBN), show Nigeria’s oil revenue
dropped from N1.114 trillion to N1.86 trillion
in the 2015 fiscal year.
CBN report shows that Nigeria lost oil
revenue in the 2015 fiscal year.
The N1.114 trillion decline represents 18.35
per cent of Nigeria’s 2016 budget estimate
of N6.07 trillion, and is attributable to the
low price of oil in the international market,
which saw the price of commodity dropping
to as low as $30 per barrel.


According to the CBN Statistical Bulletins for
the first, second, third and fourth quarters of
20115, at N1.859 trillion, the country’s crude
oil revenue for the 2015 fiscal year dipped
by 37.47 per cent from N2.973 trillion
recorded in 2014.
Giving a breakdown of the earnings, the
reports pointed out in the first quarter, Q1
2015, the country earned N557.5 billion from
crude sales, in Q2 N459.89 billion, while in
Q3 and Q4, oil sales earnings dipped further
to N426.15 billion and N415.82 billion
respectively.
The Vanguard reports that in comparison, in
Q1 2014, N843.47 billion was earned from oil
sales, while in Q2, Q3 and Q4, N866.35
billion, 679.42 billion and N584.08 billion
were earned respectively.


As a result, the CBN disclosed that the
country recorded gross oil revenue of
N819.50 billion in Q2 2015, dropping by ¦
372.28 billion or 31.24 per cent from N1.192
trillion recorded in Q1 2015.
The report also put the gross oil earning for
Q2 2015 at N968.42 billion or 54.16 per
cent, below the level in the same
corresponding quarter of 2014. As a result,
Q2 gross oil revenue met 60.35 per cent of
its budget target of ¦ 1.358 trillion. But after
deductions of first line charges, net oil
revenue stood at ¦ 626.84 billion, indicating a
decline of N344.91 billion or 35.49 per cent,
and N643.95 billion or 50.67 per cent, below
Q1 2015 and Q2 2014, respectively.
For Q2 and Q4, the CBN said: “Analysis of
gross receipts in the fourth quarter revealed
that, at ¦ 811.82 billion, oil revenue
accounted for 57.56 per cent of total
federally-collected revenue, while the
balance of N598.58 billion or 42.44 per cent,
was collected from non-oil revenue sources.
“Gross oil revenue for the fourth quarter
reflected decreases of N118.65 billion or
12.75 per cent and N635.42 billion or 43.91
per cent, from N930.46 billion in the third
quarter of 2015 and N1.477 trillion in the
fourth quarter of 2014 respectively.
“Gross oil revenue met 59.79 per cent budget
target of N1.358 trillion.

10 Foods Nigerian can not afford to miss home and abroad

10 food items Nigerians
can not afford to miss

The existence of the stores popularly known
as African stores has it possible for
Nigerians abroad to at least have access to
most of the food items usually loved.
Thoughts of these items could make them
yearn to go home every once in a year or
more. Some of these food items usually not
found abroad are often requested for when
getting prepared to get back abroad.
Although the African stores still provide
alternatives, yet, that hunger for the original
persists.
Below are some of the food items:


1. Starch and banga
This is one of the original delicacies from
the Urhobo, Isoko and Ukwuani speaking
communities of Delta state. Starch which is
one of the most cherished swallows among
these people, cannot be found at the various
African stores. For the banga (palm fruit)
usually used for a kind of soup called banga
soup can also not be found. Although, there
are the canned ones but there’s a wide
difference in the tastes. The Deltans use this
soup with any swallow. The Igbos eat the
soup (which they call ofe aku) with rice
basically.


2. Delta/Ijebu garri – Garri (cassava flakes)
This is another household food item most
Nigerians abroad miss. At African stores in
America for example, the kind of garri found
there is like sawdust. Because the ones
found are often ignored by those who reason
know the real garri, they settle for pundo
yam, wheat, semovita etc. But when it
comes to the drinking of garri aspect, they
cannot wait to get to Nigeria.


3. Dodo/fried ripe plantain
That yellowish plantain found in various
Nigerian market is always missed. If you
ever find anyone abroad, you will obviously
see how falsified they are. The unripe ones
are forced to become ripe and eventually
become tasteless.


4. Bush meat
This cannot be found at stores at all.
Remember the bush meat pepper soup! Even
when you try your best possible to smuggle
some pieces of meat from Nigeria, it will
only take a blind custom officer not to see
it. Of course the scanner is there too
to screen it out.


5. Fresh Vegetables
Vegetables are the things almost every
Nigerian cry for every time. The popular
ugwu(pumpkin) is never found. Fresh bitter
leaves are not found but the dried ones. An
igbo man will tell you that for a very good
fresh ofe onugbu, the dried bitter leaves are
not ideal. What about fresh ewedu and fresh
oha leaves? Not seen! The only fresh
vegetable they have in the US for instance,
is spinach, which looks almost like Nigerian
water leaves.


6. Fresh meat and fish
All their meat and fish are frozen. The goat
meat, beef, pork, chicken, fish, all frozen.
There are people who like goat meat or beef
based on the slaughter of the day. Some still
like live chicken, the tastes are very
different. These are some of the items
Nigerians miss abroad.


7. Fresh akamu/pap
There is what they call corn-starch which is
supposed to be the akamu, but it tastes like
the starch used to wash native attire. Even
when pap is seen at the African store, it is
frozen because to avoid spoilage, raw food
items are usually preserved in the deep
freezer.


8. Suya
For fun with friends, suya (grilled or
barbecued meat) is one of things
Nigerians love. It is strongly missed.


9. Boli
It often goes with groundnut. Fresh unripe
giant plantains roasted by the roadside are
always missed.

10. Roasted/boiled corn and plum
Just like boli and groundnut, corn and plum/
pear (called ube in Igbo) is also another kind
that is usually missed. Freshly plucked from
the farm, boiled or roasted to go with the
plum, lunch is set.

Just in: Saraki withdraws application against CCT

Just in: Saraki withdraws
application against CCT

– Bukola Saraki, the Senate President has
been undergoing trial at the Code of
Conduct Tribunal (CCT)
– This may cause him to lose his seat if
found guilty
– Saraki has withdrawn his application
Bukola Saraki
Bukola Saraki, the Senate president on
Monday, April 25, has withdrawn an
application to stall his trial at the Code of
Conduct Tribunal (CCT).
At the appeal court, Kanu Agabi, the lead
counsel to Saraki, who challenged the
jurisdiction of the CCT to try his client asked
the court to hasten hearing to his appeal.
“When your lordship has read such a
voluminous motion, it is unfair to say we are
withdrawing. But we have to. We want to
withdraw the motion.
“In the motion, dated April 4, we prayed your
lordship to stay proceedings at the CCT
pending the hearing of our appeal.
READ ALSO: Saraki’s trial: Drama as judge
loses temper in court room
“But we now want to urge your lordship to
grant accelerated hearing to our appeal.
“My Lord, we appeal to you to grant us
accelerated hearing,” he said.
However, Rotimi Jacobs (SAN), the counsel
to the federal government, agreed to the
request by not objecting to Agabi’s motion
to withdraw the application.
The motion which was dated for April 4, was
thereby struck out by Abdul Aboki, who led a
three-man panel of justices.
Saraki, had urged the tribunal through Agabi
to stop his trial on the basis that he was not
given fair hearing by the Code of Conduct
Bureau (CCB) but the CCT on March 24,
dismissed the application by the Senate
president to squash the charges against him.

World oldest person discovered in Nigeria

World oldest person discovered
in Nigeria

A Nigerian woman, Mama Esifiho, who
allegedly is 191 years old, has been
discovered.
Mama Esifiho
According to her great great grandson Mr.
Avuefeyen, Esifiho who is allegedly 2
centuries old lives in Ellu (Edhemoko,
Akaluba Street, Ellu in INLG)Have

Mourinho Finally sign Manchester United Deal

Mourinho reportedly signs
Manchester United deal

– Jose Mourinho reportledy signs
Manchester United deal
– Mourinho’s signature will breed new
players and axe others
Jose Mourinho has finally signed a contract
to take over at Manchester United,
according to reports in Portugal.
The Portuguese has been heavily linked to
replace Louis van Gaal after his sack as