#BBB NEWS| FG To Create 1m Direct Jobs In 2016

For the first time in Nigeria's budgetary history, the federal government would be directly intervening in lifting people out of poverty through a series of measures already proposed in the 2016 budget that is now before the National Assembly.

Explaining details of the social investment plans announced by the President last week while presenting the 2016 budget, Vice President, Prof. Yemi Osinbajo said "for the first time the budget is paying attention to the problem of poverty in a proper and direct way. We have decided to address poverty and youth unemployment."

Indeed by committing an unprecedented half a trillion Naira for social investment spendings and interventions, the Buhari administration is proposing to spend about 9% of the 2016 budget to address poverty issues directly.

The Vice President spoke yesterday -late Tuesday -in Ouagadougou, Burkina Faso during an interactive session at the Nigerian embassy with Nigerians resident in the west African nation, where he had gone to participate in the installation of the new democratically elected president, Mr. Roch Marc Christian Kaboré.

#BBB NEWS| Nigerian Government To Reduce Petrol Price To N85 Per Litre From Jan 1, 2016

The Federal Government would on January 1 next year reduce the pump price of the Premium Motor Spirit (PMS) to N85 per litre.

The Minister of State for Petroleum, Dr. Emmanuel Ibe Kachikwu broke the news to journalists in the Port Hacourt Refinery Company (PHRC), where he spent Christmas inspecting the plant.

Asked when would the Federal Government release the new price temperate of the Petroleum Product Pricing Regulation Agency (PPPRA), he said that he approved the new price for the agency on Thursday.

Pressed to reveal when the new price will become effective, Kachikwu, who is also the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC) said "like I said, we have done a modulation calculation and it is showing us below N87. I imagine that if PPPRA publishes it today, it will become effective immediately. But the 1st of January that is when we are looking at."