• Ishaku

    Taraba Governor Signs N110.2bn 2016 Budget Into Law

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    Taraba State governor, Darius Dickson Ishaku has signed the N110.2bn 2017 appropriation bill passed by the State Assembly into law. The budget consists of N60.8bn, which is about 55.23% of the total budget for capital projects and N49.3bn, about 44.77% for recurrent projects. While signing the bill, which was presented to the State Assembly by…

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  • Waziri Adio NEITI boss

    FG Loses $198.7m To Oil Swap, Offshore Arrangement – NEITI

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    The Nigeria Extractive Industries Transparency Initiative, NEITI, said the country  lost $198.7 million in 2014 to the crude oil-for-product swap and the Offshore Processing Arrangements, OPA NEITI disclosed this  in its Audit Report for 2014 released in Abuja. It  said the release of the reports was in accordance with the global Extractive Industries Transparency Initiative…

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    Forex: Industries, Aviation, Others Get N1bn Allocation In December

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    The Central Bank of Nigeria (CBN) yesterday disclosed that it has given access to requests for foreign exchange valued at N1,003,373,891.75 through the inter-bank window to enable respective industries procure industrial raw materials and machine spare-parts. The apex bank said this was done in line with its determination to ensure seamless flow of activities in…

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    Citing Recession, Change In Priority, Organisations Ditch Yuletide Decorations

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    The usual glamorous sight of beautiful and colourful decorations of buildings and offices by corporate organisations and government agencies during Christmas and New Year celebrations are missing this year across the country, due to economic challenges in the country and change in priority, among others, by organisations. In Abuja for instance, unlike previous years when…

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  • kemi adeosun

    FG Begins Property Audit In MDAs

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    The federal government said it has commenced an audit of its property in ministries, departments and agencies (MDAs). During this exercise, it will particularly beam its searchlight on those who held government offices in the past and used the property to advance their personal interest to the detriment of the State. This comes as government…

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    SunTrust Bank, FG Partner Over N13bn Housing Scheme

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    Newly licensed commercial bank, SunTrust Bank, is partnering with the federal government, through the Nigeria Mortgage Refinance Company (NMRC), on a housing scheme for 5,635 civil servants across the country. The project is valued at over N13 billion. Speaking at the launch of the federal government’s civil servants mortgage loan refinancing scheme, minister for finance,…

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  • Power-transmission

    Power: Why Gencos Can’t Deliver 6000MW Target

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    Contrary to the expectations of Nigerians that they would soon have improved electricity supply of 6,000 megawatts in the country, which was the target for 2016 set by the federal government earlier in the year, operators in the sector have confirmed that the country cannot achieve this target due to issues of gas shortage, debts…

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    CBN Charges Banks On Economic Recovery

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    The Governor, Central Bank of Nigeria (CBN), Godwin Emefiele yesterday charged commercial banks in the country to take up the role of returning the nation’s economy to normalcy as their financial intermediation activities cut across all sectors. Disclosing this during his opening address at the 2016 Bankers’ Committee retreat in Lagos, yesterday, Emefiele said with…

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    FG Bans Vehicle Importation Through Land Borders

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    Mixed reactions have trailed yesterday’s announcement by the federal government of its plan to ban the importation of used and new vehicles through the country’s land borders. The federal government had in a statement signed by the public relations officer of Nigeria Customs Service, Wale Adeniyi, said the prohibition order covers all new and used…

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