master choice news

Just in case you are wondering what the I and E window is, it is the platform where the value of the Naira will be set from now. It stands for Investors and Exporters Window. The I&E window allows Investors, Exporters, Importers and End-users to meet at a market to haggle and bargain over the value of the Naira vis a vis other internationally traded world currencies.   So, for example, it allows foreign airlines who want to get their money out of Nigeria to use the Naira you paid to them to buy your ticket abroad to buy Dollars from Shell Petroleum Development Company, who need Naira to pay their local staff. Basically, several investors, exporters and importers haggle, like how you price garri at the market. The person with the cheapest priced garri gets the most customers, and other garri sellers in the market are then forced to sell their own garri at the same or lower price, or they will not have any customers, and that is how the price for garri is set....

The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has said that the Nigeria National Petroleum Company (NNPC) Limited held on about N8.4 trillion which would have been part of revenue accruing to Nigeria in the guise that it was used to pay for subsidy.Chairman of RMAFC, Mohammed Shehu He said NNPC LTD  stopped contributing to the national purse due to the subsidy regime. “RMAFC has the constitutional mandate to monitor the accruals to and disbursement of revenue from the federation account and also advise federal and state governments on fiscal efficiency and methods by which their revenue can be increased.” The chairman described the president’s pronouncement on the elimination of the petrol subsidy as a masterstroke that broke the jinx. This, he said, was the appropriate step in the right direction. “The country can no longer sustain fuel subsidies whose demerits far outweigh its benefits to the citizenry. It is saddening to note that since January 1,...

PRESS STATEMENT   ADJUSTMENT IN PUMP PRICE OF PMS NNPC  Limited wishes to inform our esteemed customers that we have adjusted our pump prices of PMS across our retail outlets, in line with current market realities. As we strive to provide you with the quality service for which we are known, it is pertinent to note that prices will continue to fluctuate to reflect market dynamics. We assure you that NNPC Limited is committed to ensuring a ceaseless supply of products. The company sincerely regrets any inconvenience this development may have caused. We greatly appreciate your continued patronage, support, and understanding during this time of change and growth. Garba Deen Muhammad Chief Corporate Communications Officer NNPC Ltd. Abuja