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Tag: FG

Economy

FG approves two new satellites for $1tn economy goal

The Federal Government has approved the purchase of two new communication satellites. This move aims to boost Nigeria’s digital infrastructure and support President Bola Tinubu’s plan to grow the economy to $1tn. The Minister of Communications and Digital Economy, Mr Bosun Tijani, disclosed this on Wednesday in Abuja. He spoke at a press conference to […]

Business

FG hits full subscription for first power sector bond

The Federal Government has achieved full subscription for its N501 billion maiden power sector bond under the Presidential Power Sector Debt Reduction Programme, reflecting strong investor confidence in ongoing electricity market reforms. This was disclosed on Tuesday by the Special Adviser to the President on Energy, Mrs. Olu Arowolo Verheijen, via X (formerly Twitter). Proceeds […]

Business

FG forms committee to restore Aluminium Smelter Company operations

The federal government has inaugurated an 11-member project delivery committee in a renewed effort to revive the Aluminium Smelter Company of Nigeria and restore it to full operational capacity in the near future. The committee includes three representatives from ALSCON, two from the Niger Delta Power Holding Company, two from the Transmission Company of Nigeria, […]

Court dismisses MAN’s lawsuit against electricity tariff hike
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FG issues ₦501bn bond to settle power sector debts

The Federal Government has moved to address Nigeria’s estimated N4 trillion power sector debt as five power generation companies signed settlement agreements under the Presidential Power Sector Debt Reduction Programme following the issuance of a N501 billion bond. The bond recorded 100 per cent subscription when it was issued in Lagos on Tuesday, drawing participation […]

News

Contractors reject FG claim of ₦152bn payment

The All-Indigenous Contractors Association of Nigeria has rejected claims that its members have received ₦152 billion from the Federal Government, describing the assertion as false, misleading and deliberately crafted to misinform the Nigerian public. The association said the claim poses a serious threat to ongoing reconciliation efforts between contractors and the government, while also eroding […]

Aviation

Court hands over aircraft to FG over unpaid Customs duties

The Federal High Court sitting in Abuja has ordered the final seizure, condemnation and forfeiture of a Bombardier BD-700 Global 6000 aircraft with registration mark 9H-GVG and manufacturer’s serial number 9470, operated by Orlean Invest Africa Limited, to the Federal Government of Nigeria. The court delivered the judgement on January 22 in suit number FHC/ABJ/CS/1085/2025 […]

Business

FG allots ₦1.54tn in January 2026 bond auction

The Federal Government allocated a total of ₦1.54 trillion at its January 2026 bond auction, reflecting continued investor confidence in government securities despite a high-interest-rate environment. The Debt Management Office reported that the auction, held on January 26, involved the reopening of three existing bonds, with total allotments well above the initial offer. DMO had […]

Aviation

FG allocates N580m for airport chillers, software upgrades

The Federal Government has earmarked N580 million for the purchase of chillers and software upgrades at airports as part of the N87.3 billion allocation for the aviation sector in the proposed 2026 budget. Although the specific software was not named, the budget document indicated that N500 million would be used to procure chillers for the […]

Business

Nigeria eyes Africa’s second-largest cloves production with 74,000 farmers

Nigeria is poised to become Africa’s second-largest commercial producer of cloves, with 74,000 farmers gearing up to participate in the country’s first-ever nationwide cloves farming initiative ahead of the 2026 wet season. The National Coordinator of the Cloves Producers Association, Malam Abdullahi Shuaibu, made this disclosure during the North-West Farmers Training Workshop held at Ahmadu […]

Finance

2026 budget: FG allocates N198.53bn for 9,230 intervention projects

An examination of the consolidated ZIP/ZIF master project sheet for the 2026 budget cycle reveals that the Federal Government has set aside N198.53 billion for 9,230 intervention projects across the country. These projects cover social welfare, infrastructure rehabilitation, agriculture, health, education, and community development. The dataset combines projects under intervention and recovery programmes. The allocation […]

Electricity featured

FG bans payment for installing electricity meters, threatens prosecution

The Federal Government has banned electricity distribution companies and installers from collecting any form of payment for meters, warning that DisCo officials and installers found extorting customers will be prosecuted. The Minister of Power, Adebayo Adelabu, issued the warning on Thursday during an on-site inspection of newly imported smart meters at APM Terminals, Apapa, Lagos. […]

Aviation featured

FG concessions Enugu international airport to Aero Alliance

The Federal Government has officially signed the concession agreement for Akanu Ibiam International Airport, Enugu, as part of its drive to modernise Nigeria’s aviation sector through public-private partnerships. The agreement was signed on Wednesday at the Ministry of Aviation and Aerospace Development in Abuja by the Minister of Aviation and Aerospace Development, Mr Festus Keyamo, […]

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