Nigeria Earns N22.2 Trillion from Oil Sector in Three Years

 Finance Minister, Dr. Ngozi Okonjo Iweala

An independent audit report of financial flows into the Federation Account from operations in the oil and gas sector has revealed that a total of N22.165 trillion ($143.5 billion) was earned as revenue from the sector from 2009 to 2011.

The audit, among others, revealed that the total accrual was four per cent short of the $148.8 billion earned by the country from the sector from 2006 to 2008.

France Returns Smuggled Nok Artefacts to Nigeria

Sculpture

France has returned to Nigeria five ancient terracotta sculptures smuggled out of the country in 2010.
The artefacts, of Nok origin, were found in the luggage of French citizen at a Paris airport. Their exact value has not been disclosed, but they are believed to date back more than 3,000 years. Nigeria’s tourism minister told the BBC it was a “big achievement” in the country’s campaign to recover its lost treasures from around the world.= “I feel extremely delighted,” said Edem Duke, who attended the ceremony to receive the sculptures from French embassy officials in the capital, Abuja.

Uproar over N4bn Budget for First Lady’s Office

N7.4bn earmarked for Abuja city gate, N150m for revamp of VP’s guest house

There was anger on the floor of the Senate Thursday when the chamber opened the debate on the 2013 budget for Federal Capital Territory (FCT), which contained a whopping N4 billion allocated to the construction of an office for the First Lady. Neither the wife of a serving president who serves as first lady, nor her office, is accorded any form of recognition in the 1999 Constitution, which makes the N4 billion allocation illegal.