A lot of figures are being brandished about by various groups with regard to the quantum of losses being suffered by Nigerians and the economy on account of the anti-fuel subsidy removal strikes and protests nationwide.

The Shell Nigeria Exploration and Production Company, SNEPCo, a member of the Shell Companies in Nigeria, and operator of the Bonga Floating Production Storage and Offloading, FPSO vessel have promised to cooperate with lawmakers investigating the cleanup of the December 20 oil leak from the facility.

Banks’ lending to agricultural activities rose by N212.64 billion between December 2010 and October last year. According to a report titled “Bankers’ Committee on Economic Development Agenda and Scorecard, “agric lending increased by a nominal value of N212.64 billion as at October last year, which represented a 37.6 per cent increase over 2010 lending.”

The strike called by the Nigerian Labour Congress (NLC) and the Trade Union Congress (TUC) which entered its fifth day Friday, has caused the nation’s maritime industry over N13.20 billion.

The non-oil sector will drive Nigeria’s economic growth in 2012, with the country’s Gross Domestic Product, GDP, expected to grow at 8.1 per cent, says analysts at FBN Capital Limited.

Mr. Francis Barde, Head of Corporate Affairs in Union Bank of Nigeria, has said that the problem of security and infrastructure could pose challenges to the success of new cashless policy of the Central Bank of Nigeria.

The removal of subsidy from petroleum products will lead to an increase in financing charges and bring about further pressure on companies’ profitability and cashflows in 2012, says Mr. Tola Odukoya, an analyst with Dunn Loren and Merrifield, DLM.

The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has called on the Federal Government to douse the raging fuel subsidy removal protests across the country by adopting phased subsidy removal.

THE maritime industry loses over N21.6 billion annually to fuel subsidy related issues, Senior Special Adviser to the President on Maritime, Mr. Leke Oyewole, has said.

The Bank of Industry(BOI) has entered into a strategic partnership with the Nigerian Olympic Committee (NOC) to showcase made in Nigeria products at the forthcoming 2012 Olympics in London.