By, Etete Enideneze & Uchechukwu Ugboaja Ahead of imminent recession occasioned by the Coronavirus (COVID-19) pandemic, Nigeria is weighing in on its abundant solid minerals as one of the potential ways to diversify and provide safety valves for its economy beyond oil, a...
President Muhammadu Buhari seeks $5.5 billion loan approval from the House of Representatives. The external loan if approved is equivalent of about two trillion in naira. The Speaker of the House of Representatives, Femi Gbajabiamila who made this known on...
ABIDJAN, Ivory Coast, African Development Bank Group (www.AfDB.org) President Akinwumi Adesina says an accelerated global health and economic effort is needed to overcome the COVID-19 pandemic in Africa. Stating that “one death is one too many” and that “our...
The Nigerian Government has sent a revised budget to the National Assembly, cutting down some costs in view of the coronavirus pandemic in Nigeria. A top source in the National Assembly shared a copy of the revised 2020 budget on Wednesday, noting that...
Zainab Ahmed, the Minister of Finance, Budget and National Planning, says the federal government is considering giving out stipends to people whose jobs have been affected by the coronavirus outbreak. Ahmed made this known while speaking on Politics Today, a programme on Channels TV.
With the Senate's approval of $22.7billion foreign loan request by President Muhammadu Buhari, the total debt profile of Nigeria hits N33 trillion which raised eyebrows. Speaking at the one day public lecture organised by the National Institute for Legislative and Democratic Studies (NILDS), on...
The Nigerian Electricity Regulatory Commission (NERC) has placed limits on estimated bills that can be issued by electricity distribution companies to unmetered customers. It said it had cancelled the Estimated Billing Methodology Regulation as a basis for computing the consumption of unmetered customers by the Discos.
Some Enugu residents have expressed concern over the astronomical rise in house rent in the city. A cross-section of the people, who spoke on the development in an interview with the News Agency of Nigeria (NAN) Enugu on Friday, said that decent accommodations in Enugu were...
In Nigeria, the Socio-Economic Rights and Accountability Project (SERAP) has asked the Federal Government to “disclose within seven days the exact amount of public funds stolen by former military Head of State, Gen. Sani Abacha, and details of spending of the about $5 billion of the loot reportedly recovered since...
The Oyo State government will, on Monday, name and inaugurate managers for motor parks in all the 33 local government areas across the state. Prof Raphael Afonja, the state Commissioner for Works and Transport, disclosed this while addressing newsmen in Ibadan on Friday. Afonja said that the...
The Nigerian House of Representatives has called on President Muhammadu Buhari, to declare a state of emergency on the power sector. The call followed the unanimous adoption of a motion on the power sector at the plenary on Thursday. Hon. Nnolim Nnaji, had...
The Nigeria’s Government on Tuesday explained why it decided to approach the China-Exim Bank for a $17bn loan request. It said other lending institutions like the World Bank and the African Development Bank were not showing much interest when Nigeria approached them during recession.
The Government of Jersey in the United States of America has said it would monitor how Nigeria spends the US$308 million looted by the late former Head of State, General Sani Abacha. This was contained in a press statement published on the website of the US...
The Attorney-General of the Federation and Minister of Justice, Mr. Abubakar Malami, SAN, has stated how the country would spend the expected US$308 million looted by the late former Head of State, General Sani Abacha when it is finally returned. He said this while signing an...
On Monday, 3 February 2020, the Government of Jersey, the Federal Republic of Nigeria and the Government of the United States of America entered into an Asset Recovery Agreement to repatriate over US$308 million of forfeited assets to Nigeria. The funds were laundered through the US banking...
The support group of Gov. Aminu Tambuwal of Sokoto state (AMWATA), has lauded the governor for paying the new national minimum wage approved by the Federal Government. A statement jointly signed by the Group Chairman and his Secretary, Muhammad Sokoto and Alhaji Abubakar Ahmad respectively confirmed this...
Amidst public outcry against the increasing cost of fuel subsidy to the economy, the Senate has disclosed that, until the nation can boast of fully functional refineries, the subsidy would not be removed. The disclosure is in sharp contrast to the upper...
Through the implementation of various public sector financial management reforms, over N700bn had been saved by the Federal Government. In addition to the N700bn savings, about N300bn had been recovered by the anti-graft agencies of government through the collaborative efforts of the...