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Subsidy divides Senate

The proposed removal of fuel subsidy by President Goodluck Jonathan has divided the Senate. The sharp division occurred yesterday on the floor of the Senate even as they all resolved to probe the Nigerian National Petroleum Corporation, NNPC and the Ministry of Finance for allegedly overshooting oil subsidy funds from N240 billion appropriated in the 2011 budget by the National Assembly to N1.2 trillion

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EFCC holds on to ex-govs

THE immediate past Governor of Oyo State, Otunba Adebayo Alao Akala, the Deputy Senate Leader, Senator Hosea Agboola and a contractor, Mr. Femi Babalola were arraigned yesterday in Ibadan on an 11 count charge of conspiracy, illegal acquisition of property and illegal award of contracts by the Economic and Financial Crimes Commission, EFCC.

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Post-election violence: FG panel report indicts Buhari

THE Presidential Committee on Post-Election Violence in parts of the country, yesterday submitted its report stating that Congress for Progressive Change, CPC, Presidential Candidate, Major General Muhammadu Buhari’s provocative remarks played a role in the bloody violence that led to the death of 10 members of the National Youth Service Corps, NYSC, and hundreds of others after last April’s presidential polls.

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Daniel, Akala, Doma arrested

The Economic and Financial Crimes Commission, EFCC, yesterday, launched sting operations in three different states which led to the arrest of three immediate past governors of Ogun; Otunba Gbenga Daniel; Oyo, Adebayo Alao-Akala and Nasarawa, Alli Akwe Doma.

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Furore over oil subsidy removal

The planned subsidy removal by the federal government next year has sparked off mixed reactions from Labour, Organised Private Sector and the Central Bank of NIgeria (CBN). While some operators in the organised private sector welcomed the development saying it is long over due, Labour on its part said it will hurt the economy and vowed to resist the move. Those who are for the removal have said that subsidy has caused a lot of distortion in the Nigerian economy and has denied the nation the needed investment in refineries.

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