Nigeria’s livestock sector has the potential to add N33tn worth of investments to the country’s economy, the Federal Government has said. Minister of Agriculture and Rural Development, Sabo Nanono, who said this to the media in Abuja on Saturday evening, stated that the Federal Government was working hard to ensure the release of this huge...
Power consumers have raised the alarm that power distribution companies were now selling the free meters that were provided for electricity users by the Federal Government. In October 2020, the Federal Government inaugurated the National Mass Metering Programme in respect of which the Central Bank of Nigeria issued a framework for financing the scheme. The...
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The Central Bank of Nigeria on Saturday announced its decision to raise the Targeted Credit Facility for households and small and medium enterprises from N150bn to N300bn. It also stated that the bank had disbursed a total of N149.21bn to SMEs and households across the country under the TCF. The Governor, CBN, Godwin Emefiele, disclosed...
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The Department of Petroleum Resources on Thursday announced that it generated over N2tn for the Federal Government in 2020, as its Abuja zonal office sealed up 11 filling stations for shortchanging motorists. In his virtual keynote address at the 2021 Society of Petroleum Engineers Oloibiri Lecture Series and Energy Forum in Abuja, the Director, DPR,...
Airlines operating in Nigeria may shut down operations in coming weeks over the frustration they face in the hands of the Nigeria Customs Service and the crash of the naira against the dollar, the Chairman, Air Peace, Allen Onyema, said on Thursday. Air Peace is Nigeria’s largest commercial carrier involved in domestic and international operations....
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The Transmission Company of Nigeria on Friday said it had completed the construction of a new transmission tower in Ajah, Lagos and also strung the old and new 330 kilovolts Egbin-Ajah transmission lines. It said both lines had been energised. “The new line increased the transmission lines capacity on that line route by 600 megawatts,...
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Deposit Money Bank workers on Wednesday said the Economic and Financial Crimes Commission should focus its asset declaration drive on the managing directors of banks and other agencies of government. EFCC Chairman, Abdulrasheed Bawa, had declared on Tuesday that the commission would from June 1 be demanding the asset declaration forms of bankers. Bawa said...
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Gold deposits have been discovered along the Abuja, Nasarawa axis through the National Integrated Mineral Exploration Project being undertaken by the Federal Ministry of Mines and Steel Development. Minister of Mines and Steel Development, Olamilekan Adegbite, disclosed this while playing host to the Governor of Nasarawa State, Abdullahi Sule, in Abuja. The minister in a...
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The Nigeria Extractive Industries Transparency Initiative has vowed to ensure the recovery of N69.5bn and $5.31bn for the Federal Government. It said on Tuesday that the monies were outstanding funds which were captured from NEITI’s 2018 audit reports to date. [READ ALSO] Insecurity: Makinde, Abiodun, Oyetola, others not cowards, says Fayemi The Executive Secretary, NEITI,...
The European Union has written a letter to the World Trade Organisation to complain about the milk and dairy restriction policy of Nigeria. Director-General, World Trade Organisation, Ngozi Okonjo-Iweala, disclosed this during her visit to the Central Bank of Nigeria on Tuesday in Abuja. The CBN in July 2019 included milk and dairy products on […] Read Full Story
Over 200 contractors of the Federal Housing Authority on Tuesday staged a protest at the headquarters of the FHA in Abuja to demand the payment of N1.5bn owed them by the authority. According to the protesters, the N1.5bn was part of the contract sum that was deployed for the construction of the Abuja Mass Housing […] Read Full Story
The European Union has written a letter to the World Trade Organisation to complain about the milk and dairy restriction policy of Nigeria. Director-General, World Trade Organisation, Ngozi Okonjo-Iweala, disclosed this during her visit to the Central Bank of Nigeria on Tuesday in Abuja. CBN in July 2019 included milk and dairy products on its […] Read Full Story
The Federal Government on Monday inaugurated the National Livestock Breed Improvement Programme with the aim of curbing incessant clashes between farmers and herders across the country. It said the programme would also address the development and transformation of the livestock value chain in the agricultural sector. [READ ALSO] AstraZeneca fear: Vaccination suffers setback, five more […] Read Full Story
The Federal Government is going to consult widely before halting subsidy on Premium Motor Spirit, popularly called petrol, the Nigerian National Petroleum Corporation has said. On Monday, The PUNCH exclusively reported that the NNPC might spend N102.96bn on petrol subsidy this month going by the recent pricing template for the commodity. Findings by our correspondent […] Read Full Story
The President, Major General Muhammadu Buhari (retd.), on Monday said the Federal Government had allocated 0.5 per cent of the country’s annual Gross Domestic Product to improve investments and aid the development of science, technology and innovation in Nigeria. He said the investment in STI was in line with the African Union resolution that member […] Read Full Story
The Federal Government has been called upon to extend the reduction of duties and tariffs on cars and minivans that carry less than 10 persons. Recently the government reduced the duties and tariffs on imported vehicles that carry more than 10 persons from 35 per cent to five per cent, a development that was greeted […] Read Full Story
The Federal Government on Sunday explained why it was constructing a narrow gauge railway on the Eastern rail line as opposed to the clamour for a standard gauge line. Minister of Transportation, Rotimi Amaechi, gave the explanation in a statement issued by his media aide, Taiye Edeni. He said the standard gauge line was going […] Read Full Story
The Federal Government has pledged to hasten the clean up of Ogoniland as it inaugurated the Second Governing Council of the Hydrocarbon Pollution Remediation Project and the Board of Trustees of Ogoni Trust Fund on Friday. It said the aim of the inauguration was to achieve the remediation process and improve the socio-economic situation of […] Read Full Story
Okechukwu Nnodim, Abuja The Federal Government on Thursday commenced the selection process for 500,000 Batch C beneficiaries of the N-Power programme. Minister of Humanitarian Affairs, Disaster Management and Social Development, Sadiya Farouq, said one million persons would benefit in the current batch of the social investment programme. She spoke in Abuja during the inauguration of […] Read Full Story
Okechukwu Nnodim, Abuja The Federal Government on Thursday declared that the Nigerian Postal Service is the agency authorised to produce and collect stamp duties in Nigeria. READ ALSO: Wike was my staff, I can’t bring myself low to his level –Amaechi By the latest declaration, NIPOST has reclaimed the right to collect stamp duties from […] Read Full Story
Okechukwu Nnodim, Abuja The Federal Government plans to adopt a new technology to halt explosions in oil tanks and petroleum products’ distribution tankers. Director-General, National Oil Spill Detection and Response Agency, Idris Musa, said the Explo-Control Technology by Qcuboyds Limited was being explored by government to prevent explosions in facilities that convey, transport and store […] Read Full Story
Okechukwu Nnodim, Abuja It is high time the Federal Government stopped the illicit movement of cattle on various roads across the country, retired General Evangelist, Christ Apostolic Church Worldwide, Samuel Abiara, has said. He also charged the government to emulate other developed and emerging economies of the world on how to manage cattle for the […] Read Full Story
Okechukwu Nnodim, Abuja The Central Bank of Nigeria has said that it received over 286 proposals from the public for grants under its Healthcare Sector Research and Development Intervention Scheme. CBN Governor, Godwin Emefiele, disclosed this at the award of grants for the HSRDIS in Abuja. READ ALSO: Private sector not allowed to import COVID-19 vaccines […] Read Full Story
Okechukwu Nnodim, Abuja Under no circumstances should a customer be placed on estimated billing on account of the failure of a power distribution company to install a replacement meter, the Nigerian Electricity Regulatory Commission has said. According to NERC, Discos must desist from such acts henceforth, as a lot of customers had raised complaints about […] Read Full Story
Members of the Senate Public Account Committee and the officials of the office of the Auditor-General for the Federation engaged in a heated debate on Tuesday with officials of the Nigerian National Petroleum Corporation over the agency’s alleged unremitted N4.06tn into the Federation Account. The Senate panel currently probing the allegation as contained in the […] Read Full Story