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Tag: FG

Umahi threatens MTN over Enugu-Onitsha road, orders N15bn monthly payment
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FG disburses N15bn compensation for Lagos-Calabar highway demolitions

The Federal Government said it has disbursed N15 billion out of the N18 billion allocated for the first phase of compensation to property owners affected by demolitions along Section One of the Lagos-Calabar Highway. This was disclosed by the The Director of Federal Highways, Bridges, and Design at the Federal Ministry of Works, Bede Obioha, […]

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FG targets 50% increase in land formalisation

The Minister of Housing and Urban Development, Ahmed Dangiwa, has announced plans to increase the formalization of land transactions in Nigeria by 50 per cent over the next decade. He stated that this initiative aims to unlock over $150 billion in dead capital, potentially boosting Nigeria’s GDP by 30 per cent. Dangiwa revealed this at […]

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FG woos China to establish electric vehicle assembly plants

The Federal Government is actively seeking to collaborate with China to diversify its economy, particularly by establishing electric vehicle assembly plants within the country. Minister of State for Foreign Affairs, Ambassador Bianca Odumegwu-Ojukwu, emphasized this initiative during a meeting with Chinese Ambassador to Nigeria, Yu Dunham. She highlighted China’s role as one of Nigeria’s largest […]

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FG plans Free Trade Zone hubs to boost local building materials

The Federal Government is exploring the establishment of manufacturing hubs for local building materials within free trade zones nationwide. This initiative seeks to harness the benefits of these zones—such as tax incentives, streamlined regulations, and market access—to enhance local production, reduce construction costs, and improve housing affordability. The Minister of Housing and Urban Development, Musa […]

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FG reaffirms commitment to market-driven crude oil pricing

The Federal Government has reaffirmed its commitment to market-driven pricing for crude oil, rejecting price-fixing. It emphasizes adherence to international best practices, allowing transactions based on a willing-seller, willing-buyer framework. The Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe, stated this in Abuja during a meeting with members of the Oil Producers […]

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FG considers port automation to cut costs

The Minister of Marine and Blue Economy, Adegboyega Oyetola, has emphasized the need for port process automation to reduce business costs in Nigeria. Speaking during a recent media chat with editors in Lagos, Oyetola noted that some port-related costs do not contribute to government revenue but instead reflect systemic inefficiencies. “If you want to be […]

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FG bans 60,000-litre fuel tankers from roads, depots

The Federal Government has disclosed the ban of trucks carrying more than 60,000 litres of hydrocarbon products from loading at depots and using federal roads, effective March 1, 2025. It added that by the fourth quarter of 2025, the maximum load limit will be further reduced to 45,000 litres. The Executive Director of Distribution System, […]

News

Power generation reaches 5,543MW as govt unveils new plans

The Federal Government has announced plans to move most electricity consumers in Nigeria to Band A, ensuring a minimum of 20 hours of power supply daily. This comes as the Transmission Company of Nigeria reported a new peak power generation of 5,543.20 megawatts, marking a significant milestone in the nation’s power sector. This milestone was […]

Nigeria Exchange in decline two weeks in a row
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FG lists ₦368.3bn bond, raises market offerings on NGX

The Federal Government of Nigeria has listed a ₦368.3 billion bond on the Nigerian Exchange Limited, accompanied by ₦234 billion in supplementary bond issues. This development was announced in a notice filed on the Exchange by the Head of the Issuer Regulation Department, Obioma Oge, on Tuesday. The newly listed bond, 22.60% FGN JAN 2035, […]

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Federal roads need alternative funding for maintenance – Minister

Minister of State for Works, Muhammad Bello Goronyo, has emphasized the need for alternative funding for Nigeria’s 35,000km federal road network, as budgetary allocations remain insufficient. This comes despite the approval of N926.2 billion for road projects and N64.88 billion for maintenance in the 2025 budget. This was disclosed by Goronyo during a visit to […]

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FG launch 40 million-dose vaccine storage facility

The Federal Government has inaugurated a solar-powered strategic vaccine storage facility in Sheda, FCT, with a 40-million-dose capacity. Built under the Livestock Productivity and Resilience Support Project with World Bank support, the facility was unveiled by Livestock Development Minister, Idi Maiha and Prof. Attahiru Jega, co-chair of the Presidential Livestock Reforms Committee. Maiha made this […]

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FG mulls ban on 60,000-litre tankers amid rising accidents

The federal government announced on Wednesday that it is considering banning 60,000-litre petroleum trucks due to the rising number of tanker accidents, which have claimed 493 lives in less than three years. During a stakeholders’ engagement in Abuja, the government proposed limiting tankers’ carrying capacity to a maximum of 45,000 litres to reduce the frequency […]

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