• Airports concessioning to wait until N120bn fund probe over – Reps

    Airports concessioning to wait until N120bn fund probe over – Reps

    According to reports, the House of Representatives has called on the minister of state for aviation, Sen. Hadi Sirika,  to suspend plans on the proposed concession of airports until he is able to brief the House as well as Nigerians, the benefits of the concession as well as how it will tackle the challenges the aviation sector faces.

    It also called for the probe of the former minister of aviation, Sen. Stella Oduah, over the diversion of the N120 billion aviation […]

  • FG approves release of N30bn intervention fund for solid minerals – Fayemi

    FG approves release of N30bn intervention fund for solid minerals – Fayemi

    According to reports, the Minister of Mines and Solid Minerals Development, Dr. Kayode Fayemi, said on Tuesday in Abuja that the Federal Government had approved the release N30 billion intervention fund for molid Minerals development.

    Fayemi disclosed this at the fifth Extractive Industries Conference held by CSR-in-Action.

    The theme of the event was: “Revisiting the Nigerian Economy beyond Oil: Prospects for a thriving Export-Driving Extractive Sector.”

    The minister, represented by Prof. Okey Onyejekwu, his Senior Special Adviser, said the fund would be used […]

  • I’m not afraid of probe on bailout fund, says Ortom

    I’m not afraid of probe on bailout fund, says Ortom

    Benue State governor, Chief Samuel Ortom, has said that he is not afraid of any probe on how he spent the N28billion bailout fund he collected from the federal government.

    The governor who spoke through his Chief Press Secretary (CPS), Mr Terver Akase, against the backdrop of the proposed probe by the senate, said that his administration would welcome any investigation of his administration.

    Ortom maintained that “the call by the Senate is apt. It is the responsibility of the legislature to […]

  • FG yet to remit N63.34b pension fund – PENCOM

    FG yet to remit N63.34b pension fund – PENCOM

    According to reports, the Federal Government is still having outstanding accrued rights due its employees that retired between 2015 and October 2016 amounting to N63.34 billion.

    Director General of National Pension Commission (PENCOM), Chinelo Anohu-Amazu who disclosed this at a function organised by the National Union of Pensioners (NUP) in Abuja also said the total registered participants in the Contributory Pensions Scheme (CPS) have increased to 7, 240,196 as at September 2016.

    The DG further said that a total of 174, 844 […]

  • Nigeria needs PPP to fund infrastructure – Experts

    Nigeria needs PPP to fund infrastructure – Experts

    As the drama of the $30 billion external borrowing continues to unfold, analysts have stressed the need for the federal government to design a framework that would allow public private partnership in developing the country’s infrastructure.

    Although the federal government said it has so far released N753.6 billion for capital expenditure out of the N1.8 trillion budgeted for 2016, analysts said the country still has a long way to go in meeting its N6 trillion infrastructure deficit.

    The minister of Budget and […]

  • Senate orders refund of N264bn diverted from education fund

    Senate orders refund of N264bn diverted from education fund

    According to reports, the Senate Thursday ordered the refund of N263,931,254,708.51 billion allegedly diverted from the Tertiary Education Trust Fund (TETFUND) by the Federal Government.

    The decision follows a revelation of mismanagement of funds in the education sector between 2011 and 2015 when TETFUND allegedly lent to other government departments, contrary to the law establishing the agency.

    The Chairman of the Committee on Education, Senator Barau Jibrin (APC, Kano North), while presenting the report of his panel on the floor of the […]

  • Senate faults disbursement of N80bn Intervention Fund

    Senate faults disbursement of N80bn Intervention Fund

    According to reports, the Senate yesterday queried the disbursement of N80 billion out of the N500 billion social intervention fund to undisclosed persons without the representatives of the National Assembly.

    The resolution is sequel to a motion by the Senate leader, Senator Ali Ndume (APC Borno South), titled “the Need to avoid the mismanagement of the 500 billion social intervention funds” who drew the attention of the senate over the disbursement.

    It warned against mismanagement of the intervention fund, adding that previous […]

  • FG’s N500bn Intervention Fund bound to fail, says Ndume

    FG’s N500bn Intervention Fund bound to fail, says Ndume

    Majority Leader in the Senate, Senator Ali Ndume, on Tuesday said the N500bn social intervention programme of the President Muhammadu Buhari administration is bound to fail like the previous welfarist programmes of successive governments.

    Ndume said that the way the programme is structured and the process of its implementation would not benefit the target members of the populace.

    “Getting everybody involved is very important; but as of now, they are trying to run it exclusively and it is bound to fail; and […]

  • Buhari to launch $10bn Niger Delta Reconstruction Fund

    Buhari to launch $10bn Niger Delta Reconstruction Fund

    According to reports, the federal government under the watch of President Muhammadu Buhari plans a $10 billion infrastructure development fund for the oil-rich but restive Niger Delta, the Minister of State for Petroleum, Dr. Ibe Kachikwu, said yesterday in Abuja.

    “We are launching $10 billion infrastructural rebirth investment programmes in the Niger Delta region. This is not money that is going to come strictly from the federal government. It is going to come from investors, individuals who are ready to do […]

  • CBN to consider Anambra’s request for N5bn Agric Intervention Fund – Emefiele

    CBN to consider Anambra’s request for N5bn Agric Intervention Fund – Emefiele

    According to reports, the Central Bank of Nigeria (CBN) has promised to consider Anambra State government’s request for N5b mechanised agriculture intervention fund to farmers in the state.

    CBN Governor Godwin Emefiele, disclosed in Awka, yesterday, during a one-day assessment visit to the state in company of a Federal Government delegation that included Minister of Agriculture and rural development, Chief Audu Ogbe, the Governor of Kebbi State, Alhaji Abubakar Bagudu, top CBN and Federal Ministry Agriculture officials that the apex bank […]

  • Buhari approves ecological fund projects in 11 states

    Buhari approves ecological fund projects in 11 states

    President Muhammadu Buhari has approved a number of Ecological Fund Intervention Projects for the 4th Quarter of 2016.

    A statement by the Director (Press) in the Office of the Secretary to the Government of the Federation, Bolaji Adebiyi, said that the approved projects spread across the 6 Geo-Political Zones are located in 11 States.

    The projects and their various locations included erosion and flood control project of rice fields in Suru, Bagudu and Shanga Local Government areas of Kebbi State, remediation of […]