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Tag: FG

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FG allocates N47bn to boost agric, medical education

The Federal Government of Nigeria has set aside N47 billion to improve agricultural and medical education across the country. The funding aims to strengthen food security and develop a more robust healthcare workforce to support national growth. This was disclosed by the Minister of Education, Dr. Tunji Alausa, during a meeting with Pro-Chancellors of federal […]

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FG approves N263bn for power substations devt

The Federal Executive Council has approved a funding of N262.75bn (€161.33 million) for the first phase of the Presidential Power Initiative. This phase includes the engineering, procurement, construction, and financing of 330/132 KV and 132/33 KV substations in various locations, including Onitsha, Offa, Abeokuta, Ayede, and Sokoto. This was disclosed by the The Minister of […]

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FG raises N1.1tn via Sukuk to finance road projects

The Federal Government of Nigeria has raised N1.1 trillion ($657.6M) through six Sovereign Sukuk to finance 124 federal road projects across the country’s six geopolitical zones. These projects will cover a total of 5,820 kilometers, aimed at enhancing infrastructure and fostering economic growth. The Director General, Security and ExchangeCommission, Dr. Emomotimi Agama, made this disclosure […]

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FG secures $600m agric loan to boost food security

The Federal Government of Nigeria, through the Ministry of Agriculture and Food Security, has successfully secured over $600 million in foreign agricultural loans in 2024. This funding aims to enhance food security, and boost agricultural production. According to information from the ministry’s website, the government obtained a $134m loan facility from the African Development Bank […]

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Blue economy policy to strengthen maritime governance – Oyetola

The Minister of Marine and Blue Economy, Adegboyega Oyetola, has hailed the National Policy on Marine and Blue Economy as an inclusive framework to strengthen maritime governance. He stated that the policy aims to position the sector as a key contributor to national prosperity, in alignment with the sustainable development goals of Africa’s Agenda 2063. […]

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FG proposes Fly Nigeria act to boost aviation – Keyamo

The Fly Nigeria Act, introduced by the Federal Government, aims to boost the aviation sector by requiring government-funded travel to prioritize Nigerian flag carriers. Aviation Minister Festus Keyamo presented the Act during a stakeholders’ engagement event on Friday, highlighting its potential to revitalize the industry and strengthen local airlines. Keyamo referred to the Fly Nigeria […]

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Nigeria, UN partner to boost bioethics development

The Federal Government and the United Nations Educational, Scientific, and Cultural Organisation are preparing to strengthen their partnership on bioethics development in Nigeria through a planned Memorandum of Understanding. This was disclosed in a statement by the Minister of Innovation, Science, and Technology, Uche Nnaji, on Friday. Bioethics involves the ethical principles and guidelines that […]

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Minister targets $23bn exotic livestock breed market

The Minister of Livestock Development, Dr Idi Maiha, has urged the Raw Materials Research and Development Council to spearhead the transformation of Nigeria’s livestock sector through research and development. Maiha emphasized that this initiative would position Nigeria to tap into the $23 billion exotic livestock breed market and boost the country’s leather production capabilities. This […]

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FG intervenes in gas supply crisis amid N2.7tn debt

Power generation in Nigeria reached a peak of 3,624.34 MW on Thursday after engineers from the Transmission Company of Nigeria restored the national grid, which had collapsed the previous day. It was also reported that the Federal Government stepped in to address the issue of gas supply to generation companies, as gas suppliers had halted […]

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FG threatens demolition of illegal structures on Lagos shoreline

The Federal Government has issued a warning to developers along the Lagos shoreline to regularize their projects or risk revocation and potential demolition. This disclosed in a statement by the Director of Press and Public Relations at the Ministry of Housing and Urban Development, Salisu Haiba, on Thursday. The ultimatum was issued by the Minister […]

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Nigeria’s oil production hits 1.7mbpd – FG

The Federal Government announced that Nigeria’s oil production, including condensates, rose by 9.9% to 1.69 million barrels per day in November 2024, up from 1.538 mbpd in October 2024. Data from the Nigerian Upstream Petroleum Regulatory Commission shows that liquid crude oil production rose by 11.42% to 1.48 mbpd in November 2024, up from 1.33 […]

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FG targets 150MW boost to national grid by year-end – Minister

The Federal Government of Nigeria has announced plans to increase the country’s electricity supply by an additional 150 megawatts before the end of 2024. The Minister of Power, Adebayo Adelabu, made this disclosure on Wednesday after a business session at the State House during the state visit of the German President, Frank-Walter Steinmeier, to President […]

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