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Tag: FG

FG vows to back W'African gas pipeline project
News

FG vows to back W’African gas pipeline project

Bisola David The federal government led by President Bola Tinubu has reaffirmed its commitment to helping the West African Gas Pipeline Project achieve its goals and reach its full potential, according to Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo. The Punch reported that Ekpo said this in his speech at the WAGP Authority Committee […]

How to apply for FG startup support
Business

How to apply for FG startup support

        The Federal government has inaugurated the Startup Support and Engagement Portal, a pivotal component essential for executing the Nigeria Startup Act. This announcement was made by the Minister of Communications Innovation and Digital Economy, Bosun Tijani, via his X account on Wednesday. He wrote, “The startup portal will drive the identification […]

FG bags $2.2bn Sun Africa deal to develop power sector
News

FG bags $2.2bn Sun Africa deal to develop power sector

  By Wilson Adekumola The Federal Ministry of Power has disclosed that Sun Africa LCC has promised $2.2 billion to develop Nigeria’s power sector. Minister of Power, Adebayo Adelabu disclosed this in a statement issued in Abuja on Sunday after a meeting with representatives of Sun Africa, led by its Chairman, Goran Rajsic. The statement […]

FG to partner private sector on CNG production
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FG to partner private sector on CNG production

  By Wilson Adekumola Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has disclosed that the Federal Government will partner with private sector in the adoption of Compressed Natural Gas production. According to The PUNCH, Edun disclosed this at the unveiling of the 2023 Nigerian Banking Sector Report by Afrinvest, which was […]

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Subsidy: FG owes NNPCL N4.207trn, says spokesman

    The Federal government has accumulated a debt of N4.207 trillion to the Nigerian National Petroleum Company Limited, NNPC Ltd, due to months of outstanding petrol subsidy payments. According to Vanguard, this was disclosed by the NNPC’s spokesperson Olufemi Soneye. Soneye, the Chief Corporate Communications Officer of NNPC, issued a statement in Abuja revealing […]

Oil revenue drops by 36% in May, says CBN
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Oil revenue drops by 36% in May, says CBN

  In May 2023, the Federal Government’s oil revenue target saw a significant drop from N804 billion to N223 billion, marking a substantial 72 percent reduction in federal earnings, as per statistics from the Central Bank of Nigeria’s Monthly Economic Report for May 2023. According to the report; “oil revenue at N223bn for May was […]

Tinubu orders NNPC to sell Crude to Dangote in Naira
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FG seeks $10bn to fund SDGs

The Federal Government has stated that Nigeria will need $10 billion a year in funds to implement the Sustainable Development Goals. This revelation was made public on Tuesday during the National Economic Summit being held in Abuja by the Senior Special Advisor to the President on SDGs, Mrs. Adegoke Orelope-Adefulire. Speaking on the theme “Half Point to […]

FG, PWC partner on roadmap for solid minerals
News

FG, PWC partner on roadmap for solid minerals

Bisola David The Federal Government has committed to working with the top consulting firm, PricewaterhouseCoopers, in implementing the seven-point roadmap to reform the industry. This commitment is being made through the Ministry of Solid Minerals Development. According to a statement released on Sunday by the Special Assistant for Media to the Honourable Minister of Solid Minerals Development, […]

FG loses N843bn to gas flaring in 20 months - Report
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FG loses N843bn to gas flaring in 20 months – Report

    Data from the National Oil Spill Detection and Response Agency reveals that the Federal Government lost approximately N843 billion due to gas flaring from January 2022 to August 2023. In its latest gas flare report, NOSDRA disclosed that oil and gas companies operating in Nigeria flared 147.1 billion standard cubic feet of gas […]

Telcos seek price hike, present demand to lawmakers
Telecommunications

FG to boost telecoms connectivity with $5bn

The FG has established a strategy to support startups in increasing their annual investment rounds to $5 billion by 2027 and increasing access in rural areas by at least 40%. The Punch reported that three million Nigerians are expected to receive tech training from the federal government over the next four years. In a document […]

Nigeria allocates $5bn target for startups
News

Nigeria allocates $5bn target for startups

  Nigeria has unveiled an ambitious plan to facilitate startups in raising a total of $5 billion in annual funding rounds by 2027. According to The PUNCH, the Minister of Communications, Innovation, and Digital Economy, Dr. Bosun Tijani, revealed this in a document titled ‘Accelerating our Collective Prosperity through Technical Efficiency: A Strategic Plan for […]

FG launches applications for tech startup accelerator programme
News Tech

FG launches applications for tech startup accelerator programme

The federal government, through the National Information Technology Development Agency, has launched applications for a tech startup accelerator Fellowship programme to encourage Nigerians with creative ideas. According to the Agency, the Founder Institute in Abuja is collaborating with them to organise the Fellowship programme. The Fellowship, according to NITDA, aims to promote an entrepreneurial culture […]

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