Tag Archives: FG

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 United States of America or …

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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 determined to make all its …

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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 House correspondents after the Federal …

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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, were meant to drive the …

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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 the FRC, the withdrawal of …

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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 (DisCos) for their poor payment …

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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 all our trade and investment …

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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. Okechukwu Enelama, announced the decision …

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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 with the precipitous decline in …

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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 budget. According to the document, …

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