• FG spends N2tn annually on goods, says Saraki

    FG spends N2tn annually on goods, says Saraki

    According to reports, the Senate President, Dr. Bukola Saraki, has said that the Federal Government spends more than N2tn on the purchase of goods every year.

    According to the Special Assistant to the Senate President on Print Media, Mr. Chuks Okocha, Saraki said this on Thursday when members of the Leather and Allied Products Manufacturers’ Association of Abia State visited him.

    The visit of the APMAA was premised on the support of the Senate and the Federal Government of their campaign for […]

  • Nigeria can produce N32b worth tomato paste annually – Ministry

    Nigeria can produce N32b worth tomato paste annually – Ministry

    According to reports, the Federal Ministry of Agriculture and Rural Development on Tuesday said the country has market volume of 150,000 tonnes of tomato paste valued at N32 billion annually.

    The Permanent Secretary in the ministry, Dr. Shehu Ahmed, stated this in Abuja at a workshop organised by the Federal Department of Agriculture in collaboration with Fadama III programme for stakeholders.

    Ahmed said that the national output has also been at the average of 1.7 million tonnes, while the demand was 2.4 […]

  • We pay over N200m to Abia government annually – School Proprietors

    We pay over N200m to Abia government annually – School Proprietors

    According to reports, the National Association of Proprietors of Private Schools has said that it paid over N200 million annually to the Abia Government which may not be getting to government treasury.

    The Abia Chapter Chairman, Mr Okey Ufomba, made the disclosure in an interview with the News Agency of Nigeria (NAN) in Aba on Friday.

    “The private schools sector has always been very supportive.

    ‘’By way of revenue, we generate over N200 million for Abia annually but our worry is: does this […]

  • Nigeria spends $1bn annually on medical tourism – Minister

    Nigeria spends $1bn annually on medical tourism – Minister

    Dr Osagie Ehanire, the Minister of State for Health, says Nigeria is spending over $1billion annually on medical treatment.

    He spoke on Friday while commissioning the newly constructed Amenity and Labour wards at the Federal Medical Centre, Jalingo.

    Ehanire said spending such a huge amount of money for treatment abroad was not good for the nation’s economy.

    He said the Federal Government was committed to upgrading health facilities nationwide to minimise medical tourism.

    “The beautiful edifice I am seeing here today will surely provide […]

  • FG targets $5bn cassava export annually – Ogbeh

    FG targets $5bn cassava export annually – Ogbeh

    The Minister of Agriculture and Rural Development, Chief Audu Ogbeh, says the country is targeting to reap over $5billion annually from cassava production in the next few years.

    Ogbeh stated this on Thursday in Abuja at the National Cassava Summit with the theme: “Toward $5 billion per Annum Cassava in the next five years.”

    Ogbeh said that the country had over time neglected agriculture in the last 30 years.

    He, however, added that the industry has the potential ‎to employ more youths and […]

  • $3bn Spent Annually On Airlines Maintenance – Experts

    $3bn Spent Annually On Airlines Maintenance – Experts

    As airlines in Nigeria continue to suspend operations due to the various economic challenges confronting them, experts have identified the huge cost of foreign maintenance, repair and overhaul (MRO), which totals $3 billion annually, as a major drain on their profitability.

    Aviation experts who disclosed this also called for a holistic approach to solving the lingering crises in the sector.

    It was gathered that two domestic airlines, Aero Contractors and First Nation Airlines, suspended their operations recently.

    Speaking with Newsmen Friday yesterday, the […]

  • Company to provide 5,000 houses annually in Kaduna

    Company to provide 5,000 houses annually in Kaduna

    The Kaduna State Development Property Company said on Monday that it would provide at least 5,000 houses annually as part of efforts to reduce housing deficit in the state.

    The Managing Director of the company, Alhaji Mahmud Gazara, told newsman in Kaduna that the move was part of the state government’s commitment at providing affordable houses to the populace.

    Gazara said that the houses, which would be in the range of low, medium and high cost, would help to shore up internal […]

  • National Assembly members earn N6.78 billion annually – See report Tables attached

    National Assembly members earn N6.78 billion annually – See report Tables attached

    At a time Nigerians are groaning under the yoke of recession, Members of the National Assembly (NASS) comprising the Senators and Members of House of Representatives have received a total of N6.78 billion as their official salaries and allowances in one year, investigation by Economic Confidential has revealed.

    The report obtained by Economic intelligence magazine showed the ‘legitimate’ remuneration of the federal legislators in compliance to the statutory approval of the Revenue Mobilisation, Allocation and Fiscal Commission, RMAFC. The remuneration packages […]

  • Nigeria spends $6bn on wheat importation annually – IAR Director

    Nigeria spends $6bn on wheat importation annually – IAR Director

    Director, Institute for Agricultural Research (IAR), Zaria, Prof. Ibrahim Umar-Abubakar, has said that Nigeria’s wheat import bill stood at $6 billion annually.

    Umar-Abubakar said this in Zaria, Kaduna State.

    He said that Nigeria produced only three per cent of wheat it consumed, while the remaining 97 per cent was being imported. Umar-Abubakar said the country had the capacity to produce enough quantity of wheat needed for local processing and consumption.

    “We have the capacity to produce enough wheat not only for our consumption, […]

  • Nigeria imports over N7trn food items annually – Ogbeh

    Nigeria imports over N7trn food items annually – Ogbeh

    Minister of Agriculture and Rural Development, Chief Audu Ogbeh yesterday reeled out worrisome statistics, which showed that the country spends over $22 billion (N7trillion) annually on importation of various food items like wheat, rice, fish, and poultry products among others.

    But the Federal Government said the continued importation of products that could be produced locally was a big threat to local production.

    Vice President Yemi Osinbajo, who unveiled the agricultural roadmap christened: “The green alternative: Agriculture promotion policy-2016-2020”, said the government was […]

  • Nigeria spends N165 billion annually to import fruit juice – MAN

    Nigeria spends N165 billion annually to import fruit juice – MAN

    According to reports, Nigeria spends N165 billion annually to import fruit juice, the president of the Manufacturers’ Association of Nigeria (MAN), Frank Jacobs, has said.

    In a paper presented at a workshop organised by the Raw Materials Research and Development Council (RMRDC) in Owerri on Friday, Mr. Jacobs noted that in spite of the high rate of fruit production and a thriving juice market, the country imported fruits concentrates.

    In the paper entitled “Promoting Investments in Concentrate Production’’, he said the situation […]