Allocation Drops By N20 bn, FG, States, LGs Share N635.55 bn

The Federation Account Allocation Committee on Thursday approved the sum of N635.55 billion to be shared to the three tires of government from the Federation Account as statutory allocation for the month of January. The figure was announced by the Accountant-General of the Federation, Idris Ahmed, shortly after the FAAC meeting, which was held at […]

FG earmarks N66bn for N-Power, school feeding, others

The Federal Government has earmarked N66bn to further boost its four social welfare programmes namely Home Grown School Feeding, N-Power, Conditional Cash Transfer and Government Enterprise and Empowerment Programme. The Special Adviser to the President on National Social Investment, Mrs. Maryam Uwais, gave this hint on Monday during the commencement of a retreat at Tinapa […]

Nigeria Makes N118.49trn From Oil in 53 Yrs

-Needs N9.1trn to end Poverty  Tayo Olanipekun Nigerian crude oil production in 2012 recorded the monetary value higher than the amount it presently requires to end poverty at national level as revenues were buoyed by high exchange rate and international prices that year, reports have shown. Africa’s largest economy produced 32.70bn barrels of crude oil […]


FG negotiates with US on looted funds

The Federal Government has revealed plans to adopt a new approach to recover stolen funds stashed abroad. Minister of Foreign Affairs, Geoffrey Onyeama, who briefed State House Correspondents at the end of the Federal Executive Council (FEC) meeting, yesterday, said the approach was to negotiate directly with the Ministry or Department of Justice of the […]

FG begins repair of federal roads, bridges in Lagos

The Federal Controller of Works in Lagos State, Mr. Godwin Eke, has said that the Federal Government has commenced the rehabilitation of roads and bridges in Lagos State. Eke, who spoke with journalists in Lagos on Saturday, said some of the roads had become deplorable and required urgent attention, adding that the Federal Government was […]

Hadi Sirika Minister of State Aviation

FG Says No going back on airports’ concession

The Federal Government says the planned concession of major airports across the country will go ahead as planned. This is just as it announced that N45 billion would be paid to ex-workers of the defunct Nigerian Airways as severance package. The Minister of State for Aviation, Hadi Sirika, stated this while fielding questions from State […]

FG has schemes to combat unemployment –Minister

The Minister of Industry, Trade and Investment, Okechukwu Enelamah, says  the Federal government has put in series of projects to create an enabling environment for businesses to thrive. He said the intervention projects were geared towards reducing unemployment among the teeming youths, Enelamah said that loans and grants, which are being accessed by some firms, […]

FG withdrew N359.39bn from ECA for fuel subsidy –FRC

The Fiscal Responsibility Commission has said that the Federal Government withdrew the sum of N359.39 billion from the Excess Crude Account in 2015 to fund the payment of petroleum products subsidy in 2015. The FRC position is contained in a report on the Excess Crude Account obtained by Punch in Abuja on Monday. According to […]

Electricity: FG yet to release N701bn gas supply guarantee fund 5months after

The much famed N701.9 billion Payment Assurance Fund (PAF) meant to provide more liquidity for Generation Companies (GenCos) to pay for gas and increase electricity supply, has not been released five months after it was announced, Daily Trust reports. The Minister of Power, Works and Housing, Mr Babatunde Fashola, while berating the 11 Distribution Companies […]

FG to review ALL trade, investment agreements since 1960

Chiedu Osakwe, director-general of the Nigeria office for trade negotiations, says the agency will embark on a review of all trade and investment agreements entered into with countries and entities since 1960. In an interview with Businessday, Osakwe said the aim of the review is to update and modernise such agreements. “The review focuses on […]