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Wed, Jan

FG Launches NG-CARES

The Federal Government has introduced the NG- CARES program with the World's Bank's Seven Hundred and fifty million dollars loan as a way to encourage Nigeria's economy as revealed by Vice President Yemi Osinbajo, in the nation's capital on Thursday during the National Launch of the NG-CARES program.

FG To Establish 18 Modular Refineries In Oil-Producing States

The Federal Government (FG) said it was in the process of establishing 3 modular refineries in 6 of the country’s major oil-producing states in the Niger Delta including Bayelsa, Akwa Ibom, Rivers, Edo, Delta, and Cross River.

NLC Threatens Nationwide Protest Rally Over plans By Government To Increase Price OF Fuel

The Nigeria Labour Congress has threatened to embark on nationwide protest rallies from January 27, 2022, to reject the planned increase in the price of premium motor spirit otherwise known as petrol by the Federal Government.
The NLC said the protests would kick off instantly and without notice in all the 36 states in the case, the government goes ahead to increase fuel before the planned January 27 nationwide rallies. These, among other decisions, were reached at the National Executive Council of the NLC held in Abuja on Friday.

LSG Acquires High Speed Trains For Intra-State Movement

The Lagos State government has acquired two new Talgo 330kmph high-speed trains for the Red Line Metro project, as part of its efforts to improve traffic management and transportation within the state. The Train will commute passengers from Marina on the Lagos Island to Agbado on the mainland. The governor assured that the first phase of the Red Line would begin by the last quarter of 2022 or the first quarter of 2023, with a capacity of 500,000 passengers daily.

eNaira Completes Over N100m Worth Of Transactions - CBN

The central bank digital currency, eNaira with over 500,000 consumer wallets, and over 80,000 merchant wallets with downloads occurring in over 160 countries, the currency recorded over N100 million worth of transactions. According to Ch’Edozie Okonjo, the central bank of Nigeria (CBN) Controller, Enugu branch, since the launch of the e-Naira, there had been a flood of interest and positive feedback from users within and outside the shores of Nigeria.

President Buhari Replaces Ifeanyi Ararume As NNPC Board Chairman

President Muhammadu Buhari has appointed the Board Management of the Nigerian National Petroleum Company Limited, NNPC Limited, presidential spokesperson, Femi Adesina confirmed. The President appointed Margret Chuba Okadigbo as the new Chairperson of the board, replacing Senator Ifeanyi Ararume, while Mele Kolo Kyari remains the Chief Executive Officer and Umar I. Ajiya as the Chief Financial Officer of the company.

Buhari Did Not Sack The AEDC Management – Presidency

The Presidency has disclosed that President Muhammadu Buhari did not order the sacking of the Abuja Electricity Distribution Company (AEDC) management. This was stated by the Senior Special Adviser to the president on media and publicity, Mallam Garba Shehu, that the information was not true. The spokesperson said, “This cannot be true. Since the privatization of the Power Sector in 2013, the management of the successor companies has reverted to the new owners,”

President Appoints Doyin Salami As Chief Economic Adviser

President Muhammadu Buhari has approved the appointment of Chief Doyin Salami as Chief Economic Adviser to the President (CEAP). Presidential spokesman, Femi Adesina disclosed the appointment in a statement on Tuesday. According to the statement, Adesina highlighted Salami's qualifications, saying the Professor is “A 1989 doctorate degree graduate in Economics of Queen Mary College, University of London,

N4.4trn Debt: Cabals Frustrating AMCON Effort - Senate

The Senate committee on banking, insurance and other Financial institutions has raised an alarm that some highly-placed individuals in the country are thwarting the effort of The Asset Management Corporation of Nigeria (AMCON) to recover N4.4trillion cornered by some individuals. According to Senator Uba Sani, the Committee Chairman, who made this known today during a meeting on “Consolidating the effectiveness of the asset recovery model adopted by AMCON” at Zuma Rock Resort, Niger State.

Senate Approves 2022 Budget With Additional N700billion

The Senate has today Wednesday approved the nation’s budget for the year 2022 financial year but increased the sum by N700 billion. This is coming as the green chamber just passed the same budget yesterday. Accordingly, the budget was pushed from N16.4 trillion as proposed by the executive, President Muhammadu Buhari during October, 7th to now N17.12 trillion indicating a difference of N700 billion from the proposed one. More so, the red chamber increased the oil bench march from $57 to $62 to reflect the current market price in the international market. 

FG To Recover Fresh $200m Loot – Malami

The Attorney General of the Federation (AGF) and Minister of Justice Abubakar Malami, SAN, has revealed that the Federal Government of Nigeria would soon make more recovery of public fund of about $200million stolen which is kept outside the country. Malami made this known during the 2021 annual public lecture organised by the centre for Media and Peace Initiative, New York, United state of America. The Special Assistant on Media and public Relations to the AGF, Dr Umar Gwandu made the statement on behalf of the AGF saying that outstanding successes recorded by the President Buhari administration in international asset recovery, could be a good template for other African countries to copy from.

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