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Tag: FG

News

FG to roll out CNG-powered buses, Keke May 29

The Federal Government has announced that it was ready to launch about 2,700 CNG-powered buses and tricycles before May 29 when President Bola Tinubu turns one year in office. This disclosure was made in a statement signed via a post on X by the Special Adviser to the President on Information and Strategy, Mr. Bayo […]

Tinubu orders NNPC to sell Crude to Dangote in Naira
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FG to criminalise fiber cable damage – Report

Nigeria is initiating a move to criminalise the destruction of broadband fiber cables in response to ongoing grievances from major telecommunications companies. It is reported that the Works Ministry, responsible for overseeing federal road constructors, is in the final stages of drafting regulations, according to Bloomberg. It is expected that these regulations will be signed […]

Economy

FG pays N600bn monthly on fuel subsidy – Rainoil CEO

The CEO of Rainoil Limited, Gabriel Ogbechie, has declared that the federal government has resumed the payment of subsidy on petrol following the devaluation of the Naira in the foreign exchange market. This disclosure was made in a statement by Ogbechie during the Stanbic IBTC Energy and Infrastructure Breakfast Session held in Lagos on Tuesday, […]

Economy

Nigeria’s FDI dropped by $19bn in 10 years – Minister

The Foreign Direct Investments into Nigeria dropped by $19bn in 10 years, from $22.7bn in 2014 to $3.7bn in 2023. This disclosure was made by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, during a presentation to top business leaders in Lagos recently, according to The Punch. The Minister outlined the […]

News

Finance minister hails SecureID over digitisation efforts

The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has commended the smartcard manufacturing company, SecureID Limited, for its unwavering contributions to the country’s digitisation drive. This disclosure was made by the minister during a recent visit to SecureID Limited’s corporate headquarters, according to The Punch. Impressed by the factory’s capacity […]

Oil and Gas

FG faults pipelines issue for oil production decline

The Federal Government has attributed the decline in crude oil production in Nigeria to the disruption of the Trans Niger Pipeline, as well as the maintenance activities carried out by some oil companies. This was disclosed in a statement by the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri in Abuja by his Special […]

News

MDAs remittance hits M835.7bn in February – Minister

The Minister of Finance and the Coordinating Minister of Economy, Wale Edun, has said that the revenues of government-owned ministries, departments, and agencies rose to N835.70bn in February. This disclosure was made by the minister during a presentation titled “Reconstructing the Economy for Growth, Investment, and Climate Resilience Development,” delivered at the Lagos Business School […]

News

Lagos-Calabar coastal highway to cost N15.36tn – Minister

The Federal Government, has said that the 700km Lagos-Calabar Coastal Highway would cost N15.36 trillion or N4.39bn per kilometre. This was disclosed by Umahi during a live appearance on Channels TV on Thursday. However, this new figure is quite different from the one earlier stated during a live interview on Television Continental on Wednesday. Umahi […]

News

Lagos-Calabar: FG to compensate property owners across nine states

The Federal Government has announced that all property owners along the path of the 700km Lagos-Calabar Coastal Highway would be compensated. This disclosure was made by Umahi while speaking at a stakeholders meeting with affected residents in Lagos, according to The Punch. The Minister said that President Bola Tinubu had approved the payment of compensation […]

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