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Tag: FG

FG saves N400bn in four weeks after subsidy removal
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FG saves N400bn in four weeks after subsidy removal

  The Federal Government has saved approximately N400 billion as a result of the removal of the subsidy on Premium Motor Spirit, commonly known as petrol. According to The PUNCH, this was disclosed through a press statement made by oil marketers on Thursday. Also as a result of the Federal Government’s recent decision to float […]

Discos failed to remit N208bn in 2022- FG
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Discos failed to remit N208bn in 2022- FG

      The Federal Government has reported that in 2022, power distribution companies failed to remit N208.8bn to the Nigeria Electricity Supply Industry. The Nigerian Electricity Regulatory Commission’s Fourth Quarter 2022 Report, along with reports from the preceding quarters, indicate that the Discos failed to make full remittances during this period. The Discos refer […]

Logo of the Trade Union Congress
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Subsidy: FG meets TUC

The Federal Government is in a meeting with the Trade Union Congress at the State House, Abuja, over the removal of fuel subsidy.   The News Agency of Nigeria reported that the TUC Secretary General, Nuhu Toro, made the disclosure while speaking with newsmen on Sunday.   The meeting is a follow-up to the earlier […]

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FG workers, military’s May salaries to be delayed

Nigerian civil servants under the employment of the Federal Government are expected to experience a delay in the payment of May salaries.   According to The PUNCH, this development is because Ministries, Departments and Agencies were yet to get debit approval from the Central Bank of Nigeria.   In a memo addressed to workers of […]

Oil revenue beats solid minerals earning by $393 - FG
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Oil revenue beats solid minerals earning by $393 – FG

  The Federal Government have said oil and gas revenues in Nigeria have surpassed earnings from the solid minerals sector by a staggering $392.6 billion. According to The Punch, the Nigeria Extractive Industries Transparency Initiative provided figures revealing that over a 10-year period, the oil and gas industry generated $394 billion, while the solid minerals […]

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FRCN privatization will boost economy, create jobs – FG

The Federal Government has handed over, the Federal Radio Corporation of Nigeria to the Fish Valley Investments and Properties Ltd, in a Public Private Partnership.   The Minister of Information and Culture, Lai Mohammed, made this known during the handing over ceremony of six hectares of land to MESSRS Fish Valley Investments and Properties Ltd, […]

Experts warn FG against further violation of debt limit
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Experts warn FG against further violation of debt limit

The Nigerian government has been cautioned by a professor of capital markets, Uche Uwaleke, against continuing to exceed the permissible cap on how much money it can borrow from the Central Bank of Nigeria, as specified in the CBN Act. According to The Whistler, Nigeria’s overall debt has increased by 32.5%, from N46.25 trillion ($103.1 billion) to N68.9 […]

Coat of Arm
Business

FG expresses concern over N4tn debt owed by several companies

  A Federal Government agency, Asset Management Corporation of Nigeria has requested assistance from stakeholders in order to recover N4 trillion in debt owed by businesses and other private organizations in Nigeria. Daily Post reported that this was revealed over the weekend in Lagos to stakeholders and external solicitors by AMCON’s managing director, Mr Ahmed […]

FG reaffirms commitment to rubber tyre industry
Business

FG reaffirms commitment to rubber tyre industry

  By Christian George The Federal Government has restated its commitment to revive the rubber industry in Nigeria. This was made known by the Permanent Secretary of the Federal Ministry of Agriculture and Rural Development, Dr Ernest Umakhihe on Wednesday in Abuja. According to a report by PMNews, the permanent secretary said that the federal […]

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