Abuja Court to hear suit on President Buhari’s re-election on Jan 21

A Federal High Court in Abuja on Wednesday fixed January 21, 2019 tohear a suit seeking to disqualify President Muhammadu Buhari from contesting the 2019 general elections. Three plaintiffs namely, Mr. Kalu Agu, Labaran Ismail and HassyEl-Kuris, had filed the suit alleging that the president lied in hisform CF 001 submitted to the Independent National […]

Power generation up 8,687Mw in December, boosts supply

The total power generated by the power generation companies in thecountry increased by 8,686.6 megawatts (MW) in December 2018, thereby raising the transmitted power during the month to 125,346.4 mw up from the 116,659.8 mw recorded in the preceding month. According to data provided by the Transmission Company of Nigeria (TCN) as reported by the […]

Rewane heads FG’s Technical Committee on proposed minimum wage

An economic analyst and Chief Executive Officer, Financial DerivativesLtd, Mr. Bismarck Rewane, is to lead other members of the technicalcommittee inaugurated today by President Muhammadu Buhari to advise government on ‘the ways and means’ of funding the proposed new minimum wage pegged at N30,000. The Director General at the Budget Office, Ben Akabueze, will serve […]

FG to transmit Minimum Wage Bill to Legislature latest Jan 23

After several weeks of rigorous deliberations on the Tripartite Committee’s report on the proposed N30,000 minimum wage between government representatives and labour leaders, the Federal Government on Tuesday announced its readiness to transmit the New National Minimum Wage Bill to the National Assembly not later than January 23rd. The decision to transmit the bill to […]

AFDB approves $14.12mn to support Nigeria’s ATI membership

The African Development Bank (AfDP) Group through its Trade Finance operations, on Tuesday announced the approval of a US$14.12 million facility to support Nigeria’s membership in the African TradeInsurance Agency (ATI). The funding support is critical and mandatory step to enable ATI commence its operations in Nigeria, as the country joins 14 other African countries […]

FG assures Kano Govt support on Qua Iboe Power investment

The Federal Government on Tuesday expressed its commitment to ensuring that  Kano State Government’s proposal to invest in the 540 megawatt Qua Iboe Power Plant (QIPP) located in Akwa Ibom State will not go down the drain. The Minister of Finance, Mrs Zainab Ahmed, through a statement by her Special Adviser on Media and Communications, […]

CBN to probe forex restriction on banned items policy violators

The Central Bank of Nigeria (CBN) has expressed its intention to initiate investigations of bank accounts of companies involved in importation of the 41 banned items for possible violation of the policy on foreign exchange restriction on the affected items. In a circular titled ‘Foreign Exchange Restriction on the importation of 42 items’ signed by […]

FAAN parleys contractors, DMBs on project financing options

The Federal Airports Authority of Nigeria (FAAN) on Tuesday engaged its contractors and commercial banks on a collaborative parley with a view to exploring the best financing options, especially for Small and Medium Enterprises, handling its capital projects. Speaking at the event in Lagos, the authority’s Managing Director, Engr. Saleh Dunoma, was quoted in a […]

BudgIT seeks transparency in local govt projects

BudgIT, a civic organisation, on Tuesday canvassed the need for transparency and openness in the implementation of local government projects in the country. The group noted that lots of funds were usually allotted yearly for capital expenditure yet capital projects remained undone or uncompleted, thereby giving room for critical gaps in infrastructural development in the […]

UNIDO, FG to sign $60mn Nigeria’s new Country Programme

The Director General of the United Nations Industrial Development Organisation (UNIDO), Li Yong, arrived Nigeria today on a two-day official visit. Li Yong, who is visiting the country for the second time since his assumption of office in year 2013, will use the occasion of the visit to sign the $60 million UNIDO Nigeria new […]