The Minister of Works and Housing, Babatunde Fashola, says inadequate provision of funds is slowing down ongoing 711 highway projects worth N6.26trn road projects nationwide. He said this last week, while presenting the ministry’s 2021 budget proposal and the details ...

The federal government on Thursday revealed plans to issue promissory notes worth N35.813 billion to 30 local contractors. The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed disclosed this during the 2021 budget defence held by the House ...

A stress test conducted on 27 financial institutions under the regulation of the Central Bank of Nigeria (CBN) has shown that even though the banking industry solvency and liquidity position are still robust, the industry may be vulnerable under the ...

The Minister of Aviation, Senator Hadi Sirika was turned back by the House of Representatives Committee on Aviation from presenting the Ministry’s 2021 budget proposal due to failure to forward the documents to the committee in advance. No blame game ...

Fire gutted a tank farm yesterday in the Oando Depot on Gaskiya Road, Ijora Badia area of Lagos State. The fire was still raging as at press time last night. The fire was seen from other areas of the state ...

The Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo, on Thursday sought the approval of the Senate for the sum of N11.18bn for 2021. He said the ministry’s budget proposal comprised personnel cost of N3.02bn; overhead cost, N762.81m; and ...

The management of the Nigerian Ports Authority has been advised to adjust their budget to reflect the damages suffered after the recent attack on it’s headquarters by hoodlums. This was the suggestion made by a delegation of the National Assembly ...

The Senate on Thursday expressed worry over the failure of agencies to remit revenues into the purse of the Federal Government. It also challenged the Office of the Accountant General of the Federation to develop a modern software that would ...

The Federal  Government on Thursday signed a share sale and purchase agreement with Transcorp Power Consortium  in relation to Afam Power Plc and Afam III Fast Power Ltd. The agreement, which is expected to lead to the addition of  966MW ...

The Federal Government on Wednesday said it was willing to resume oil exploration in the Lake Chad Basin. The exercise was suspended by the government in July 2017 after suspected members of Boko Haram attacked a team of geological engineers ...

By Kenneth Jukpor The Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Bashir Jamoh, has reaffirmed the Agency’s commitment to the establishment of a strong and sustainable national fleet, saying the desire for a Nigerian shipping line ...

The Central Bank of Nigeria has said the firms that participated in its latest business expectations survey expect borrowing and inflation rates in the country to rise further in the coming months. The CBN said in its October 2020 Business ...

The Nigerian Petroleum Development Company, a subsidiary of the Nigerian National Petroleum Corporation, has reported an explosion at a production facility in Oil Mining Lease 40 involving its partners, Elcrest Exploration and Production Nigeria Limited. Spokesperson for NNPC, Kennie Obateru, ...

The Federal Government has released funds to power distribution companies for the mass deployment of about six million free electricity meters to power consumers nationwide. It was gathered that some senior officials of power distribution companies met with the Central ...

Two Nigerians, Ikechukwu Umezurumba and Dominic Nwaogu, are among the 20 winners of the 2020 International Telecommunication Union’s Innovation Challenge. A statement from the union said they were honoured at the 2020 edition of the ITU Global Innovation Forum held ...

The lingering challenge of gas supply in the nation’s power sector left 1,753.4 megawatts generation capacity at 10 power plants idle on Monday. The nation’s total unutilised electricity generation capacity stood at 2,131.9MW as of 6am on Monday, with low ...

The Federal Government is seeking a $1.2bn external borrowing from Brazil to finance agricultural programmes in the 2021 budget. A request for approval has also been transmitted to the National Assembly. The Minister of Finance, Budget and National Planning, Zainab ...

As the United Nations marks its 75 years anniversary with a search for the “Third Paradise”-A new world where humanity and sustainable development  are the concerns of mankind, MMS Woman of Fortune Hall of Fame(WoFHoF) Initiative presents a bevy of beauty ...

Pinnick inspects Samuel Ogbemudia Stadium The injury sustained by Super Eagles midfielder, Kenneth Omeruo while featuring for his Spanish club, CD Leganes, at the weekend, has thrown Coach Gernot Rohr and his assistants off balance. The Super Eagles will host ...

Argentine football great Diego Maradona was admitted to hospital Monday for medical checks, his personal doctor announced. “It’s not a serious situation and we didn’t come for an emergency,” Leopoldo Luque told reporters outside the clinic in La Plata, south ...