Federal – Page 97 – City Business News

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...

October 25, 2018 No Responses

Nigeria To Secure $1.5m Loan For Abidjan-Lagos Road Project Study

Nigeria’s Finance Minister, Mrs. Zainab Ahmed on Wednesday announced Federal Executive Council (FEC) approval for Nigeria to receive $1.5 million loan from the African Development Bank (AfDB) for the Lagos-Abidjan highway. The fund is part of the $13.5 mil...

October 12, 2018 No Responses

Nigeria Targets $22b Foreign Investments In Two Years

The Nigeria Government will attract $22 billion private sector investments through the Economic Recovery and Growth Plan (ERGP) “Focused Laboratories” in two years, Budget and National Planning Minister, Senator Udoma Udo Udoma has said. According to th...

October 9, 2018 No Responses

Nigeria Commits N1.7 Trillion To Capital Investment

Vice President Yemi Osinbajo says the Federal Government has spent N1.7 trillion in capital investment in two budget years. Osinbajo disclosed this while addressing participants at the 9th Presidential Quarterly Business Forum held at the State House Banquet H...

September 27, 2018 No Responses

Nigeria Approves $64m Contract For Escravos Power Supply

Nigeria’s Federal Executive Council (FEC) meeting on Wednesday approved $64 million for power supply to Escravos communities. Minister of State for Petroleum Resources Ibe Kachikwu made this known at the end of the FEC meeting chaired by Vice President Yem...

September 20, 2018 No Responses

Nigeria Suspends Proposed National Carrier

The Federal Government, on Wednesday suspended its controversial national carrier project, Nigeria Air. This was disclosed by the Minister of State for Aviation, Hadi Sirika, while addressing Journalists. According to Sirika, the decision to suspend the ...

September 16, 2018 No Responses

Nigeria Govt Faults HSBC Report

The Presidency wishes to make clear to all Nigerians, and particularly the global banking giant HSBC which said the second term of President Muhammadu Buhari would stunt the economy, that what killed Nigeria’s economy in the past was the unbridled...