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Nigeria’s gas revolution will lift West Africa’s energy

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Tag: FG

Only 5% have over N500,000 in their bank accounts — Wale Edun
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FG to Issue N758bn bonds to settle pension arrears

The Federal Government has announced plans to issue bonds worth N758bn to settle accumulated pension debts. This includes arrears under the old Defined Benefit Scheme prior to the introduction of the Contributory Pension Scheme in 2004, according to the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, who spoke to journalists on […]

News

Nigeria needs annual $20bn gas investment to boost production – NEITI

The Nigeria Extractive Industries Transparency Initiative announced on Monday that Nigeria, ranked as the ninth largest gas producer globally and the top producer in Africa, would need to invest $20 billion annually into its gas infrastructure. The Executive Secretary of NEITI, Dr. Ogbonnaya Orji, made this disclosure in the 2021–2023 report on Oil, Gas, and […]

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FG eyes 12% mortgage interest rate on low-cost homes

The Minister of Housing and Urban Development, Ahmed Dangiwa, recently revealed that the government is working towards a 12 per cent mortgage interest rate to make homeownership more accessible to Nigerians. Speaking at the Saudi Arabia Real Estate Forum, Dangiwa emphasized the significant opportunities within Nigeria’s real estate sector, especially through the government’s Renewed Hope […]

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Minister laments Nigeria’s low natural gas utilization despite reserves

The Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, has expressed concern over Nigeria’s paradoxical situation as a gas-rich nation with strikingly low natural gas utilization. He urged operators like SEPNU to collaborate with the government to address and rectify this issue. Ekpo made this call during a meeting with SEPNU’s senior management, led […]

Minister threatens to revoke Kogi-Benin Road contracts
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Road projects hit N20tn from N13tn due to reforms – Umahi

The Minister of Works, David Umahi, stated that reforms under the current administration, including the naira floatation and fuel subsidy removal, have increased the N13 trillion road projects inherited by the Bola Tinubu administration to approximately N20 trillion. Speaking during a meeting with a delegation from the Anambra and Enugu caucus of the 10th National […]

News

FG grants 25-year license to 10 gas distribution companies

The Nigerian government, through the Nigerian Midstream and Downstream Petroleum Regulatory Authority, has granted 25-year gas distribution licenses to 10 companies for the establishment and operation of gas networks. These licenses, focused on promoting domestic gas use, cover franchise areas in Lagos, Ibadan, Port Harcourt, and Benin City. The goal is to ensure natural gas […]

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Ministry of Interior raked in over N6bn in revenue – Minister

Dr. Olubunmi Tunji-Ojo has stated that the Ministry of Interior generated over N6 billion in revenue for 2024. This was achieved through various services provided to Nigerians, such as expatriate quotas, marriage services, citizenship applications, and the registration of places of worship. Dr. Tunji-Ojo provided a comprehensive breakdown of the N6 billion revenue generated, emphasizing […]

FG to intervene in building, manufacturing sector – Shettima
News

FG eyes WEF collaboration on African Atlantic Gas Pipeline

The Federal Government of Nigeria plans to collaborate with the World Economic Forum on the African Atlantic Gas Pipeline project, aimed at connecting Nigeria to Morocco and other African countries to boost regional energy security and economic growth. The announcement was made by the President’s Spokesperson, Stanley Nkwocha, on his official X (Twitter) page on […]

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FG eyes $5bn revenue from annual Orisa congress

The Federal Government, through the National Institute for Cultural Orientation, has projected that the proposed Annual World Orisa Congress could generate over $5 billion in revenue. NICO revealed on Thursday that the project could attract more than one million visitors worldwide and enhance investment opportunities for Nigeria. The World Orisa Congress aims to celebrate and […]

Nigeria borrowed money to fight Boko Haram - Oyedele
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Nigeria can achieve 15% inflation target in 2025 – Oyedele

The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele has expressed optimism about Nigeria’s inflation outlook for 2025, believing the country can lower the inflation rate from an average of 34.80 percent in 2024 to 15 percent. Oyedele made this statement at the PwC & BusinessDay Executive Roundtable on Nigeria’s […]

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Strict penalties needed for flight delays, cancellations – FG panel

The Federal Government, through the Central Results Delivery Coordination Unit, has called on the Ministry of Aviation and Aerospace Development, along with the Nigerian Civil Aviation Authority, to review a draft policy that suggests imposing stricter sanctions on airlines in response to the rising number of flight delays and cancellations across the country. The Special […]

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FG to raise N450bn in January bond auction

The Nigerian government, through the Debt Management Office, intends to raise N450 billion in January 2025 via its bond auction. This is notably higher than the N360 billion offered in January 2024 and the N120 billion in December 2024 This initiative is designed to help bridge the fiscal deficit and meet the government’s financial obligations, […]