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We Need N6.26trn For 711 Road Projects-FG

We Need N6.26trn For 711 Road Projects-FG

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 ...

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FG Seeks N’Assembly’s Approval For Issuance Of N35bn Promissory Notes

FG Seeks N’Assembly’s Approval For Issuance Of N35bn Promissory Notes

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 ...

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CBN Stress Test Reveals Banks’ Vulnerability to Economic Headwinds

CBN Stress Test Reveals Banks’ Vulnerability to Economic Headwinds

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 ...

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BEARS: Tardy Sirika

BEARS: Tardy Sirika

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 ...

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Panic as fire guts Oando tank farm in Lagos

Tank fire won’t disrupt fuel supply, says MOMAN

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 ...

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2021 budget: Minister seeks N11.18bn for industry

2021 budget: Minister seeks N11.18bn for industry

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 ...

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#EndSARS: NASS pledge budgetary support for NPA

ARSON: Why NPA Headquarters Was Possibly Attacked  - Usman

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 ...

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FG not monitoring 240 revenue-generating agencies, says Senate

We’re not part of FG’s plan to sell national assets – Senate

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 ...

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FG, Transcorp’s Afam plant deal to add 966MW generation

FG, Transcorp’s Afam plant deal to add 966MW generation

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 ...

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We’ll begin oil exploration in Chad Basin soon – FG

Petrol price’ll increase when oil goes up – Sylva

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 ...

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Re-establishment Of National Fleet Imminent – Jamoh

Re-establishment Of National Fleet Imminent – Jamoh

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 ...

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Firms expect borrowing, inflation rates to rise – CBN

Firms expect borrowing, inflation rates to rise – CBN

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 ...

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OML 40 explosion damages marine storage vessel, stalls 10,000bpd

OML 40 explosion damages marine storage vessel, stalls 10,000bpd

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, ...

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FG releases funds to Discos for mass metering

FG releases funds to Discos for mass metering

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 ...

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ITU honours two Nigerians, others for business innovation

ITU honours two Nigerians, others for business innovation

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 ...

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10 power plants suffer gas shortage, 1,753MW idle

10 power plants suffer gas shortage, 1,753MW idle

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 ...

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FG seeks fresh $1.2bn loan from Brazil

Experts blame borrowing, fuel price hike as inflation climbs to 14.23%

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 ...

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UN@75: Making A New World With MMS UN Generation Amazons

UN@75: Making A New World With MMS UN Generation Amazons

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 ...

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Omeruo’s injury unsettles Super Eagles’ coaches as Onuachu replaces Simon

Omeruo’s injury unsettles Super Eagles’ coaches as Onuachu replaces Simon

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 ...

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Diego Maradona hospitalised in Argentina

Diego Maradona hospitalised in Argentina

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 ...

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