FG approves N701bn assurance system payment for electricity companies
Obodo Ejiro
June 21, 2017
The Federal Government has approved assurance system payment of N701 billion to improve liquidity in the Nigerian electricity value chain, Yemi Osinbajo, Nigeria’s Acting President , has said. The move is expected to break the gridlock in liquidity faced by electricity companies which are at the core of generating and distribution power in Nigeria. Industry […]
FG set to release N350bn for roads, other infrastructure
Obodo EjiroJune 20, 2017
The Federal Government is set to release N350 billion being the first tranche for implementation of the capital budget component of the 2017 budget. Kemi Adeosun, Nigeria’s finance minister made the disclosure Monday in Abuja at the public presentation of the 2017 Appropriation Act. The number of important roads earmarked for rehabilitation include, the Lagos/Ibadan […]
Nigeria’s finance minister seeks IITA collaboration for agric programme
Businessam StaffJune 19, 2017
Kemi Adeosun, Nigeria’s finance minister has moved for collaboration between the International Institute of Tropical Agriculture (IITA) and government to rollout a national youth agric programme for the country. Adeosun, said in Ibadan recently that the country will benefit by signing up for the African Development Bank funded Empowering Novel Agri-Business-Led Employment Youth Program (ENABLE […]
Kebbi, Cross River, Borno lead states with high cost of cooking gas (LPG)
Niyi JacobsJune 19, 2017
A National Bureau of Statistics (NBS) report has revealed that Kebbi state has the highest cost of cooking gas in the country with average refilling cost of N5,375 per 12.5kg cylinder followed by Cross River (N5,330) and Borno (N5,300). The statistics agency also said the cost of refill within the months of April and May […]
Wike rates Rivers ahead of Lagos, Kano in security, assures of investor security
Obodo EjiroJune 12, 2017
The Rivers state government has assured investors that their investments in the state are secure. The state governor, Nyesom Wike gave the assurance on Sunday at a dinner to mark the 20th Anniversary of Air France’s first flight to Port Harcourt International Airport. “It is a priority for us to attract investors for our people to […]
FG spends N3.7bn to feed 1.2 million pupils
Obodo EjiroJune 12, 2017
The Senior Special Assistant to the Acting President, Laolu Akande has revealed that the Federal Government (FG) has released N3.77 billion for the feeding of 1,287,270 school children in nine states under the HomeGrown School Feeding Programme. According to Akande, nine states including Anambra, Enugu, Oyo, Osun, Ogun, Ebonyi, Zamfara, Delta and Abia, have received […]
Senate passes 96 bills, 72 petitions in two years
Obodo EjiroJune 9, 2017
Senate President, Bukola Saraki has said that the 8th Senate passed 96 Bills and 72 petitions from its inauguration in 2015 to June, 2017. He made this known at a special session to mark the second anniversary of the 8th Senate in Abuja on Friday. Saraki said that the passage of the bills and petitions […]
Presidency may sign 2017 budget into law this week
Niyi JacobsJune 9, 2017
Nigeria’s presidency is expected to sign the 2017 budget into law next week, Yakubu Dogara, speaker House of Representatives, and two presidency sources said on Friday. The record N7.44 trillion budget passed by parliament on May 11, 2017 was larger than the N7.298 trillion draft spending plan submitted by President Mohammadu Buhari in December. Nigerians expects much […]
No hike in fuel price, PPPRA confirms
Businessam StaffJune 6, 2017
The Federal Government on Tuesday urged Nigerians to ignore speculations making the rounds that it was planning to raise the pump price of petrol by N5. Petrol price currently stands at N145 per litre in all filling stations across the country. At the inception of the present administration, the price was adjusted from N86.50 per […]
Nigeria’s senate seeks N5 tax on a litre of petrol
Businessam StaffJune 1, 2017
A Senate panel Thursday recommended a five-naira tax on any litre of petroleum products purchased by Nigerians to fund the proposed National Roads Fund. The tax, which is contained in a bill entitled “National Roads Bill”, will compel motorists to pay N5 on each litre of petrol and diesel purchased. By implication, the bill will […]