Despite COVID-19 Challenge, Nigeria Economy Wax Strong – NBS

The National Bureau of Statistics has yesterday revealed that Nigeria’s economy despite challenges posed by the coronavirus pandemic has grown by 0.51% in the first quarter of 2021. In the new report were the results for the two consecutive quarters of growth following the negative growth that send the country into recession in the second and third quarter of last year.

MDAs Failed To Remit N3Trillion Revenue Into Federation Account – Senate

The Senate Committee on Finance has revealed that 60 federal government agencies failed to remit a total of about N3 trillion in six years, contrary to provisions of the constitution and Fiscal Responsibility Act. The failure of key revenue-generating agencies to pay what they generated into the Consolidated Revenue Fund (CRF) has been a source of financial bankruptcy of the Federal Government and a cause of huge borrowing, particularly from 2015 to date. Chairman of the committee, Solomon Adeola (APC, Lagos West), who revealed the development to journalists, Yesterday, stated that the breach was uncovered during the panel’s ongoing investigation of remittances by Ministries, Departments, and Agencies (MDAs). The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, Director-General of Budget Office, Ben Akabueze, Auditor-General of the Federation, Idris Ahmed, and other heads of MDAs appeared before the Senate committee during the ongoing probe of revenue remittances by MDAs between 2014 to 2020 and payment of 1% Stamp Duty on all contract awards by the MDAs within the same period.

Buhari Approves Four Airports As Speciall Economic Zones

President Muhammadu Buhari has approved the four International airports in Nigeria as Special Economic Zones, Minister of Aviation, Hadi Sirika said on Thursday. The airports are the Murtala Muhammed International Airport, Lagos; Nnamdi Azikiwe International Airport, Abuja; PortHarcourt International Airport, Rivers and Mallam Aminu Kano International Airport, Kano.

FG To Commence Distribution Of CBN’s Free Prepaid Meters

The Federal Government has on Wednesday disclosed that the distribution of the four million free electricity prepaid meters sponsored by the Central Bank of Nigeria (CBN) will soon commence across the country. Mamman Saleh, minister of Power made the disclosure while addressing State House Correspondents after the Federal Executive Council Meeting at the Presidential Villa in Abuja. He explained that the distribution will begin as soon as the ongoing “phase zero” distribution of one million electricity meters is concluded.

New National Air Carrier To Take Off First Quarter 2022 - Aviation Minister

The Minister of Aviation, Hadi Sirika has revealed today (Wednesday) in a briefing at the State House noting the Federal Government is on a course in providing a national carrier to the country. The Minister noted that the new national carrier which is meant to commence operation by the first quarter of 2022 is long overdue, and expected to be a viable airline with a potential poised to cater to millions of travelers in Nigeria and Africa with possible cheaper rates.

Hope As Buhari Directs Expansion Of N-Power To Accommodate 1million Nigerians

President Buhari has disclosed that his government in an effort to cushion the effect of hardship on Nigeria has directed the expansion of N-Power to accommodate more people from the former 500,000 persons to now 1million people. Buhari made the announcement in his speech to commemorate the year 2021 workers' day celebration.

AfDB, EBRD Partner To Address $2.5Trn Financing Gap In Africa

The African Development Bank Group (AfDB) and European Bank for Reconstruction and Development (EBRD) have partnered, signing a Memorandum of Understanding (MoU) to promote the development of a sustainable private sector in Africa. According to the new partnership, the AfDB and EBRD will capitalize on their respective expertise, focusing on climate change, green and resilient infrastructure, and capital markets development, while bridging the $2.5 trillion annual financing gap.

Transportation: FG Harnessing Opportunities To Create Jobs For Youths — Minister

The Federal Government is harnessing opportunities to create jobs for Nigerian youths, says the Minister of State for Transportation, Senator Gbemisola Saraki. Saraki stated this on Thursday during a courtesy visit to Governor Inuwa Yahaya of Gombe State.

Total Black Out As TCN Knock Off All 33kv Line In Kaduna

Following an early warning by the National Union of Electricity that it had been directed by the Nigeria Labor Congress to join in the warning strike, they have been a total blackout in Kaduna state which took place midnight Saturday. This is coming after NLC has pleaded with the government of Malam Nasir El-Rufai to revoke its policy of the sack workers ahead of a five-day warning strike which is to commence from midnight today (Sunday).

Petrol Subsidy: No Remittance For Federation Account In Month Of May - NNPC Groans

As the Nigerian government is planning on revenue diversification to increase its income into the federation account, Nigerian National Petroleum Corporation, NNPC has hinted that its corporation cannot remit anything to the federation account in the incoming month of May.