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Tag: FG

FG threatens to revoke oil block licenses over inactivity
Oil and Gas

FG seeks foreign firms’ return to Nigeria’s oil sector

The Federal Government has called on major Engineering, Procurement and Construction firms to return to Nigeria’s oil and gas industry, insisting that the challenges that once forced them out have been dismantled through reforms and fresh incentives. The call was contained in a statement by Nneamaka Okafor, the Special Adviser on Media and Communication to […]

Agribusiness

FG unveils NiPHaST to curb Nigeria’s ₦3.5trn crop losses

The Federal Government has unveiled the Nigeria Postharvest Systems Transformation Programme to ensure a resilient, efficient, and inclusive post-harvest handling and storage system that reduces losses of produce. This was disclosed in a statement by Ezeaja Ikemefuna, Head of the Information Department, Ministry of Agriculture and Food Security, on Sunday in Abuja. Ikemefuna stated that […]

Business

FG assures indigenous contractors of pending project payments

Finance Minister Wale Edun has assured indigenous contractors that payments for completed projects will commence next week. The assurance was made following a meeting organized by Deputy Speaker Benjamin Kalu in Abuja, according to a statement on Thursday by his chief press secretary, Levinus Nwabughiogu. Edun noted that the federal government has implemented a structured […]

Business

FG to revoke more mining licences in sector clean-up

The Federal Government has announced plans to revoke more mining licences as part of efforts to sanitise the solid minerals sector and protect investors from fraudulent practices. Director-General of the Mining Cadastre Office, Obadiah Nkom, disclosed this on Thursday during a live conversation on X (formerly Twitter) titled “A Deep Dive into the Mining Cadastre […]

Finance

FG spends N8.93trn on debt servicing in nine months

The federal government spent N8.93 trillion on debt servicing from January to September 2024. This represents 61 percent of the N14.55 trillion revenue generated in the period, according to the budget implementation report seen by BusinessDay. A breakdown of the amount showed that debt servicing gulped N2.26 trillion in the first quarter, N3.77 trillion in […]

Oil and Gas

FG denies removing CNG subsidy amid price hike

The Federal government through the Presidential Initiative on Compressed Natural Gas has refuted a report of subsidy removal and an increased price of Compressed Natural Gas. This follows a recent news story that suggested the price increased from N230 to N450 per standard cubic metre. The PiCNG in a statement issued to Journalists on Thursday […]

News

FG posts N20.59trn revenue, driven by non-oil earnings

The presidency says the federal government generated N20.59 trillion in revenue between January and August, with the non-oil sector contributing N15.69 trillion, according to a statement on Wednesday by Bayo Onanuga, special adviser to the president on information and strategy. “With N15.69 trillion collected, non-oil revenues account for three out of every four naira, showing […]

NITDA to develop blockchain "Nigerium" for data Security
Business

FG to partner big tech for hyperscale data centers – NITDA

The Director-General of the National Information Technology Development Agency, Kashifu Inuwa Abdullahi, has said that the Federal Government plans to partner with Big Tech firms and hyperscalers to set up hyperscale data centers in Nigeria, aiming to enhance the country’s data sovereignty, Speaking at the 3rd Biennial Corporate Governance and Enterprise Development Conference in Lagos […]

Business

FG, Polaris Capital partner on skills, job placement for artisans

The Federal Government has partnered with Polaris Capital Limited to train, certify, and place 100,000 construction artisans across Nigeria. Formalized through a Memorandum of Understanding on September 2, 2025, the initiative aims to address skills gaps in the housing and construction sector, according to a statement on the ministry’s website. The Permanent Secretary of the […]

FGN Bonds' value decreases by 93.2% to N183bn
Business

FG raises N3.3bn from August savings bonds – DMO

The Debt Management Office has confirmed that the Federal Government raised a total of N3.3 billion from the allotment of the August 2025 FGN Savings Bonds. Data published on the DMO’s website on Tuesday showed that the offer, which ran from August 4 to 8, 2025, attracted N573.31 million from the 2-year bond maturing in […]

Coat of Arm
News

FG begins payment to contractors of MDAs

The Nigerian government has begun payment to contractors of projects domiciled with federal government ministries, departments and agencies amid outcry. According to Daily Post, the spokesperson for the Office of the Accountant General of the Federation, Bawa Mokwa, disclosed this in an interview on Monday. This comes after more than a year of non-payment to […]

News

FG confirms delayed salary of Nigerian missions’ abroad staff

The Ministry of Foreign Affairs has admitted that Nigerian diplomatic and consular missions are grappling with financial and operational strain, driven by years of budget shortfalls and economic pressures. Spokesperson Kimiebi Ebienfa said the challenges—ranging from delayed salary payments to outstanding service provider bills—have disrupted the smooth running of missions abroad. To ease the pressure, […]

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