Tag: FG

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FG orders Discos to replace faulty equipment in seven days

The Federal Government has directed electricity distribution companies to replace weak distribution networks within their franchise areas within seven days. This order was issued through the Nigerian Electricity Management Services Agency and follows a two-month notice previously given to the Discos to implement necessary changes. The government aims to enhance the reliability of electricity supply […]

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ICYMI: FG launches CNG e-portal for youths

The Federal Ministry of Youth Development has launched a Compressed Natural Gas e-portal aimed at youths in the commercial transport sector interested in operating CNG-powered tricycles nationwide. This initiative is designed to promote sustainable transportation solutions and empower young entrepreneurs in the industry. This was disclosed by the Minister of State for Youth Development, Ayodele […]

Minister threatens to revoke Kogi-Benin Road contracts
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FG seeks 30% advance payment from NLNG for Bodo-Bonny road

The Federal Government has proposed a 30% advance payment from Nigeria LNG to expedite the Bodo-Bonny road project in Rivers State. This initiative follows the Federal Executive Council’s approval to boost the project’s funding to N280 billion. Minister of Works David Umahi announced this development during a meeting with Julius Berger (Nig.) Plc, as detailed […]

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FG’s deep-water investment plan faces mixed reactions amid $82bn exodus

In a bid to revitalise the struggling oil and gas sector, the federal government has approved a comprehensive tax relief package aimed at attracting investment in deep-water operations. This initiative comes as the industry faces challenges from underinvestment, declining crude oil production, and the ongoing exit of international oil companies, according to Nairametrics. Recent data […]

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FG to invest in local companies for energy security

The Federal Government of Nigeria has announced its imminent selection of additional beneficiaries for its initiative aimed at investing in indigenous companies specializing in energy security and gas infrastructure development. It stated that this initiative is poised to mark a significant milestone in the country’s efforts to enhance energy security and improve gas infrastructure, signaling […]

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FG launches distribution of 2,000 CNG-powered tricycles to empower youth

The Federal Government of Nigeria, in collaboration with the Presidential Compressed Natural Gas Initiative and the Federal Ministry of Youth Development, has launched a program to distribute 2,000 CNG-powered tricycles. The flag-off event for the distribution of 2,000 CNG-powered tricycles took place on Tuesday at the Old Parade Ground in Abuja, coinciding with the celebration […]

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FG’s debt to CBN increases by over N11tn

The Central Bank of Nigeria announced that credit to the Federal Government rose by N11.33 trillion, or 57.11%, reaching N31.15 trillion in August, up from N19.83 trillion in July. The latest Money and Credit Statistics from the CBN revealed a trend of fluctuating borrowing by the three tiers of government from commercial lenders in recent […]

Minister threatens to revoke Kogi-Benin Road contracts
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FG allocates over N29bn in September for infrastructure development

The Federal Government disbursed over N29 billion in September aimed at enhancing road networks and improving water resources, as facilitated by the Federal Ministry of Works. This information was sourced from GovSpend, a platform tracking government expenditures developed by the accountability firm BudgIT. Notably, N5.88 billion was allocated to Reinforced Global Resources Ltd. for the […]

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FAAC deducts N622.75m over 15 months for anchor borrowers

The Federation Allocation Accounts Committee has deducted a total of N622.75 million over the past 15 months to repay loans disbursed to farmers under the Anchor Borrowers Programme. The CBN established the Anchor Borrowers Programme in November 2015 to foster economic linkages between smallholder farmers and anchor companies, according to The Punch. This initiative aims […]

Emirates to resume Nigerian flights Sept 11
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Nigeria, UAE agree on reciprocal flight rights

Nigeria’s federal government and the United Arab Emirates have reached an agreement on reciprocal flight rights, paving the way for Emirates Airlines to resume its Dubai-Lagos flight service on Tuesday, October 1, 2024. This development also opens the door for Nigerian carrier Air Peace to reinstate its operations to the UAE, following its previous service […]

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FG to boost CNG infrastructure, slash transport fare by 40%

The Federal Government of Nigeria has announced plans to enhance compressed natural gas infrastructure and reduce transportation fares by over 40%. This initiative was formalized during a Memorandum of Understanding signing ceremony in Abuja, which included key stakeholders such as representatives from the National Union of Road Transport Workers from Itakpe, Adavi, and Ajaokuta train […]

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FG secures $600,000 relief fund from Gates foundation

The Nigerian government has secured a $600,000 relief fund along with commitments from the Bill and Melinda Gates Foundation. This announcement came during a meeting between Vice President Kashim Shettima and the head of the Global Development Programme at the foundation, Dr. Christopher Elias on the sidelines of the 79th United Nations General Assembly in […]