TotalEnergies, MRS, Sifax, FIRST E&P, Sahara, Others Win Oil Blocs as Dangote Crashes Petrol Price Undermining Imports FG approves Shell’s $2.4bn oil, gas assets sale to Renaissance, says consortium
Emmanuel Addeh in Abuja and Peter Uzoho in Lagos In Nigeria's first oil bid round con-
ducted under the Petroleum Industry Act (PIA) 2021, many indigenous oil and gas companies yesterday emerged winners of onshore and deep
offshore oil blocks otherwise known as Petroleum Prospecting Licences to begin exploration, development and production activities on the assets.
Just as it emerged yesterday that Dangote Refinery had crashed petrol prices to N899.5 (cash payment) for two million litres and a matching two
million litres on a bank guarantee (BG) valid for 15 days (Access, Zenith & First Bank), and N895 (cash payment) for 10 million litres and a matching
10 million litres on a BG valid for 15 days (Access, Zenith & First Bank), Continued on page 40
PDP Faults 2025 Appropriation Bill, Says It’s Hopeless, Anti-people... Page 6
Thursday 19 December, 2024 Vol 29. No 10847. Price: N400
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L-R: Former President of Nigeria, Chief Olusegun Obasanjo; former Governor of Ogun State, Aremo Olusegun Osoba; Ogun State Governor, Prince Dapo Abiodun; First Lady of Ogun State, Mrs Bamidele Abiodun; Bishop of Living Faith Church Worldwide, Bishop David Oyedepo, and the National President of the Christian Association of Nigeria (CAN), Most Revd, Dr Daniel Okoh, during the Christmas Carol and Service of Nine Lessons, held at the Arcade Ground of the Governor's Office, Oke-Mosan, Abeokuta, on Tuesday.
Targeting Inflation at 15 Percent, Tinubu Presents N49.7trn 2025 Budget Proposal
Govt allocates N4.9trn to defence, security; N4.06trn for infrastructure; N2.48trn for health and N3.52trn for education Debt service to gulp N15.81trn Says economic recovery in sight as foreign reserves hit $42bn, trade surplus stands at N5.8trn Revenue collection hits 75% of target in 2024 Akpabio justifies extension of 2024 budget lifespan to June, 2025 Defends tax reform bills, says critics yet to read proposed laws
Deji Elumoye, Ndubuisi Francis, Sunday Aborisade, Adedayo Akinwale and Juliet Ekoje in Abuja
Targeting inflation at 15 percent, President Bola Ahmed Tinubu yesterday presented a N49.7 trillion budget proposal for the 2025 fiscal year before a joint session of the National Assembly in Abuja, with the defence and security sectors getting the highest allocation of N4.91trillion. The President projects inflation which has been soaring to drop from 34.6percent to 15 percent in the 2025 proposal. In the proposed fiscal plan, the Defence and Security were closely followed by infrastructure with the sum of N4.06 trillion, while the sum of N2.48 trillion was allocated for the health sector and N3.52 trillion budgeted for the education sector. Tinubu, in the budget presentation held at the House of Representatives Chamber, noted that the budget Continued on page 40
TINUBU PRESENTING 2025 BUDGET TO NATIONAL ASSEMBLY...
President Bola Ahmed Tinubu assisted by Special Adviser to the President on Nass Mathers (SENATE), Senator Basheer Lado (left), and Senior Special Assistant to the President on (House of Reps), PHOTO: GODWIN OMOIGUI Hon Ibrahim Kunle Olarewaju, (middle), during the Presentation of the 2025 Budget Proposal to the Joint Session of the National Assembly, in Abuja.... yesterday