Federal – Page 94 – City Business News

February 6, 2019 No Responses

Nigeria Begins Local Production Of Passport

The Nigerian Security Printing and Minting Plc on Tuesday signed a Memorandum of Understanding (MoU) with an indigenous firm, Iris Smart Technology Ltd, for the production of international passports locally. Speaking at the signing ceremony in Abuja, the minister of...

December 22, 2018 No Responses

NLC Explains Need For Urgent Alternative Model Of Economic Growth In Nigeria

The Nigeria Labour Congress (NLC) commends the National Bureau of Statistics for its consistency in living up to its mandate of providing relevant statistical information and data on Nigeria’s economy. The recent report on unemployment and underemploym...

December 15, 2018 No Responses

States In Nigeria To Access World Bank’s $750m Loan, Grant

The 36 states in Nigeria and the Federal Capital Territory (FCT) will soon access World Bank’s 750 million dollar loan, grant. The Minister of Finance, Mrs Zainab Ahmed, said this on Friday in Abuja while addressing the 7th Community of...

December 13, 2018 No Responses

2018:FIRS To Hit N5.3tri Revenue

The Federal Inland Revenue Service (FIRS) is expected to generate N5.3trillion revenue by the end of this year. Already, as at the second week of this month, FIRS has generated N5 trillion. Executive Chairman, Mr. Tunde Fowler, in a statement...

December 13, 2018 No Responses

Nigeria Approves $22.99m For Maritime Security

The Federal Executive Council (FEC) on Wednesday approved 22.995million dollars (N7.14billion) to enhance security of the nation’s Maritime sector The Minister of Transportation, Mr Rotimi Amaechi, disclosed this when he briefed State House correspondents on...

December 6, 2018 No Responses

Senate Approves N338b For States, Contractors

Delta and Taraba States are to share N102.3 billion of the N338 billion approved on Wednesday by the Senate for disbursement as settlement for inherited local debts and contractual obligations. The funds approved for the two states are reimbursement for...

December 4, 2018 No Responses

AfDB Approves $200m For Nigeria’s power sector

The Federal Government has secured a loan of $200 million to fund its electrification project. The African Development Bank (AfDB) Group on Monday said it provided $150 million for the project. The balance of $50 million was issued from the...

November 29, 2018 No Responses

FG, States, LGs Share N788.13b

The Federal Government, States and Local Governments, on Wednesday shared N788.13 billion as federal allocation for the month of October at the Federation Account Allocation Committee (FAAC) meeting. A statement issued by Mr Oise Johnson, Head, Press and Publi...

November 18, 2018 No Responses

Nigeria To Raise Funds From Capital Market To Fund Universities

The Government lacks the financial capacity to fund Nigerian Universities, President Muhammadu Buhari has said. Speaking at the convocation of the University of Ibadan which coincided with the institution’s 70th anniversary on Saturday, Buhari explained th...

November 10, 2018 No Responses

FIRS Generates N4.3tri In 10 Months

The Federal Inland Revenue Service (FIRS) on Friday said it generated N4.3 trillion as tax revenue between January and October this year. FIRS Executive Chairman, Babatunde Fowler, disclosed this during the “Federal Inland Revenue Service Special Day” at t...

November 6, 2018 No Responses

Labour Suspend Strike

Members of the organised labour union on Monday evening called off the proposed nationwide industrial action initially scheduled to commence on Tuesday to press home workers’ demand for a new national minimum wage. The National Chairman of the Nigeria La...

November 5, 2018 No Responses

TSA Cost Gulps N16b In Two Years

The Nigeria Government has spent N16 billion on Treasury Single Account (TSA) transaction costs in two years, Accountant-General of the Federation (AGF) Ahmed Idris has said. He said the government would no longer bear the service charge on all payments...

November 3, 2018 No Responses

Nigerian Senate Probes 100% Foreign Ownership Of Some Multinational Firms

The Committee on Local Content has concluded plans to investigate 100 per cent foreign ownership of some multinational companies registered in Nigeria. The Chairman of the committee, Senator Solomon Adeola, made this known in Port Harcourt, while briefing ne...

October 26, 2018 No Responses

FG, States, LGAs Share N698.71B For September

The Federal Government, 36 States and FCT as well as 774 Local Governments on Thursday shared N698.7billion for the month of September. The Minister of Finance, Mrs Zainab Ahmed, said this in Abuja, while briefing newsmen on the outcome of...