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Tag: FG

Nigeria, others spent $1.4trn on debt servicing in 2023 - World Bank
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FG partner W’Bank to unlock over $300bn in dead capital 

The Federal Government has established a partnership with the World Bank Group to raise land formalization to 50% over the next 10 years, in an effort to free up more than $300 billion in dead capital. This was disclosed by the Minister of Housing and Urban Development, Arc. Musa Dangiwa, during the Nigerian Liveable Cities […]

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FG warns IOCs against disregarding gas flare directives

The Federal Government, on Wednesday, warned International Oil Companies operating in Nigeria to refrain from disregarding directives of various regulatory agencies on gas flaring. It stressed that noncompliance would not be tolerated and indicated that while a small number of IOCs frequently followed these instructions, the majority of oil companies did not. This was disclosed […]

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FG eyes 9,000MW from renewable energy

The Federal Government has stated that it anticipates the renewable energy sector to contribute roughly 9,000 Megawatts of power supply to the nation by the year 2030 as part of the overall plan to address energy poverty in Nigeria. This was disclosed by the Minister of Power, Adebayo Adelabu, on Wednesday at the opening of […]

FG spends 74% of revenue on debt in Q1 2024
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FG spends 74% of revenue on debt in Q1 2024

Debt servicing costs have become a burden for Nigeria’s federal government, consuming a staggering 74% of its retained revenue in the first quarter of 2024, according to the latest data from the Central Bank of Nigeria. The federal government’s retained revenue for this period amounted to N1.76 trillion, marking a notable increase of 33.8% from […]

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FG to spend N36bn on CNG conversion of 30,000 diesel-powered cars

The Federal Government plans to convert 30,000 petrol or diesel-powered vehicles to run on compressed natural gas, at an average cost of N36 billion in the next ninety days. The Project Director and Chief Executive Officer of the Presidential Compressed Natural Gas Initiative, Michael Oluwagbemi, stated this during the Park to Park CNG Mobilisation programme […]

Nigeria to phase out diesel, embrace hybrid energy — Shettima
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FG launches strategy for Africa’s digital trade transformation

The Federal Government of Nigeria unveiled a comprehensive plan on Friday to drive the continent’s digital trade revolution aligning with the African Continental Free Trade Agreement framework. This was disclosed by the Vice President, Kassim Shettima while delivering a keynote address during a stakeholders summit with the theme “Digital Trade in Africa: The Renewed Hope […]

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FG shuts illegal hold mine site in Kogi

The Federal Government has shut down an illicit gold mine location in Kogi State’s Yagba East Local Government Area. The Minister of Solid Minerals Development, Dr Dele Alake, stated that the action was taken as part of the Federal Government’s resolve to stop illicit mining and reposition the industry to raise Nigeria’s status internationally. This […]

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FG launch cleantech initiative to empower startups, SMEs 

The Federal Government has unveiled the National Cleantech Innovation Entrepreneurship Ecosystem, an initiative that aims to promote small and medium-sized businesses and startups in the nation. This was disclosed in a statement by the Minister of Innovation, Science, and Technology, Chief Uche Nnaji via his official X account on Thursday. The Global Cleantech Innovation Programme […]

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FG seeks regulations for e-commerce platforms in Nigeria

Federal government intends to create regulations for e-commerce platforms and provide cyber insurance to enhance security in the digital economy. This was revealed in the National Digital Economy and E-Governance Bill currently before the National Assembly, according to The Punch. To increase security in electronic trade, the National Insurance Commission is required by law to […]

AfCFTA: Intra-Africa exports to surpass $1trn by 2035 - Standard Chartered
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FG to maximise benefits of AfCFTA for Nigerian businesses

The Federal Government has stated that it will ensure that Nigerian Nigerian companies take full advantage of the African Continental Free Trade Area. This was disclosed by President Bola Tinubu on Tuesday while speaking at the launching ceremony of the Guided Trade Initiative under the African Continental Free Trade Area in Lagos, according to The […]

News

FG considers N10 sugar tax suspension

The federal government is currently considering a temporary suspension of the N10 tax on Sweetened Sugar Beverages (SSBs) to stabilise the economy. This was disclosed by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun during a meeting with the members of the National Action on Sugar Reduction (NASR) according to […]

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Tinubu appoints Walson-Jack as head of service

President Bola Tinubu has appointed Mrs. Didi Esther Walson-Jack, OON, as Head of the Civil Service of the Federation, effective, August 14, 2024 This was disclosed by the Special Adviser to the President, Ajuri Ngelale via his Facebook page on Wednesday. She will replace Dr. Folasade Yemi-Esan, CFR, who retires on August 13, 2024. The […]

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