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 […]

FG lifts suspension on tax holidays for pioneer companies

The Federal Government on Monday announced the lifting of the administrative suspension Pioneer Status Incentives, following the conclusion of critical reforms to the incentive regime. It also announced a release of new guidelines for PSI applications as well as a revamped list of pioneer industries and products The Minister of Industry, Trade and Investment, Dr. […]

Finally, FG to Tax First, Business Class Tickets

Finance Minister, Mrs. Kemi Adeosun, said Thursday that the federal government would begin to tax first and business class flight tickets in line with the new tax drive aimed at boosting revenue. The move is coming almost three years after the previous administration rolled out the initiative among a cocktail of measures to boost revenue […]

FG releases N268.27 billion for power, roads, housing in 2016

Whooping sum of N268.27 billion was released by Federal Government for the implementation of various projects in the Power, Works and Housing sector in the 2016 fiscal year. The amount released reflects 63.44 percent of the total sum of N422.900 billion appropriated for the sector, leaving a balance of N154,628,527,315 (36.56 percent) of the total […]

FG, Lagos bicker on who controls Waterways

…As NIWA reacts to Lagos claims Despite court rulings, the battle between National Inland Waterways Authority (NIWA) and Lagos State government over who controls Waterways in the state is far from being over as the Federal government agency has reacted to the claims of the Lagos state government that the waterways in the state are […]

FG postpones JV cash call exit to December

The Federal Government has shifted the deadline for the exit of joint venture cash call arrangement with oil companies to the end of this year. The government failed to exit the JV cash call arrangement in January in line with the agreement it reached with the international oil companies in December last year. The nation’s […]