• FG spends N750b on infrastructure in five months – Adeosun

    FG spends N750b on infrastructure in five months – Adeosun

    According to reports, the federal government has spent over N750billion on infrastructure in the last five months, Minister of Finance, Mrs. Kemi Adeosun, has said.

    The minister gave this hint yesterday at a public forum in Lagos, where she was guest speaker at the Wealth Creation Platform 2016, organised by KICC International.

    According Mrs. Adeosun, the federal government was concerned about the growing infrastructural deficit in the country, hence the President Muhammadu Buhari-led administration has made infrastructure finance one of its major […]

  • 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 […]

  • I’ll butcher arrested cattle for stomach infrastructure, says Fayose

    I’ll butcher arrested cattle for stomach infrastructure, says Fayose

    According to reports, the Ekiti State governor, Ayodele Fayose, has inaugurated the state’s Grazing Enforcement Marshals, warning that cattle caught feeding after 6 p.m., would be seized.

    He said the state government would collaborate with the police and other security agencies to combat defiant herdsmen. He noted that the marshals would not bear arms and would, therefore, rely on bodies empowered to do so.

    The governor reiterated the need to stop innocent people being killed and farmers’ means of livelihood being taken […]

  • Confiscated cows to go for ‘stomach infrastructure’, says Fayose

    Confiscated cows to go for ‘stomach infrastructure’, says Fayose

    Ekiti State Governor Ayodele Fayose has declared that any cow confiscated under the State Grazing Regulation Law will be slaughtered and shared to the people as part of the “Stomach Infrastructure” policy of his administration.

    The governor who disclosed this on Thursday in Ado Ekiti during the inauguration of Ekiti Grazing Enforcement Marshals (EGEM) said herdsmen caught grazing their cattle beyond the 6.00 pm risks six months jail while their animals will be confiscated.

    Fayose explained that the setting up of the […]

  • Nigeria needs infrastructure, not iPhones – Adeosun tells donors, investors

    Nigeria needs infrastructure, not iPhones – Adeosun tells donors, investors

    According to reports, the Minister of Finance, Mrs. Kemi Adeosun, has informed multilateral donor institutions and investors that Nigeria is hungry for infrastructure that can trigger growth, not iPhones and pricey suits that will drive consumption.

    Adeosun spoke Wednesday night at a session during the International Monetary Fund (IMF)/World Bank annual meetings in Washington D.C., saying investors must start to realise that western economies are matured and offer lower returns, while Africa with its infrastructure gap offers greater returns.

    The minister made […]

  • Obasanjo wants N5.8trn pension funds spent on infrastructure

    Obasanjo wants N5.8trn pension funds spent on infrastructure

    Former President Olusegun Obasanjo has challenged pension managers to invest a portion of an estimated N5.8 trillion pension fund in housing and key infrastructures in order to speed up development in key sectors of the economy.

    Speaking yesterday in Abuja at the third edition of World Pension Summit (Africa Special), the former president made reference to Singapore as a classical example of countries that maximally utilised pension asset to solve housing challenge confronting their citizens.

    The theme of this year’s summit is […]

  • A New Militant Group Vows To Destroy Any Infrastructure Of The FG That Generates Income

    A New Militant Group Vows To Destroy Any Infrastructure Of The FG That Generates Income

    A militant group, Niger Delta Volunteers (NDV), has threatened to cripple every infrastructure of the Federal Government that generates income.

    The NDV also warned oil companies in the Niger Delta to evacuate their staff and suspend their operations, adding that their next strike will be deadly.

    The militant group also described the recent bombing of a facility in Bonny by the Niger Delta Avengers as child’s play.

    The NDV said they will stop their struggle if the Federal Government accepts to restructure the […]

  • FG to inject $5bn into aviation infrastructure

    FG to inject $5bn into aviation infrastructure

    Thee Managing Director of the Federal Airports Authority of Nigeria (FAAN) Saleh Dunoma Tuesday said the aviation sector is expected to be injected with about $5billion out of the $3.10 trillion required by the National Integrated Infrastructure Masterplan (NIMP) over a period of 30 years through Public Private Partnerships (PPP).

    Dunoma stated this at the annual conference and exhibition of the Airport Council International ACI) holding in Montreal.

    Speaking at the session on Public Private Partnership, Eng Dunoma hinged his presentation with […]

  • Lagos Assembly okays N500b for infrastructure

    Lagos Assembly okays N500b for infrastructure

    Lagos State House of Assembly has approved N500billion bond for the state government spanning between this year and 2019.

    Presenting a report during plenary yesterday, the chairman of an adhoc committee set-up by the House on the matter, Hon. Oluyinka Ogundimu informed the House that the bond was necessary for the development of the state and  would be repaid through a 23 per cent of the state internally generated revenue (IGR).

    He added that all necessary plans are being made to ensure […]

  • Revealed!!! Why MTN Is Investing In Infrastructure, New Markets

    Revealed!!! Why MTN Is Investing In Infrastructure, New Markets

    MTN is going through the roughest period in its 22 years as a mobile network conglomerate. Massive disconnection of unregistered phone lines, unconducive operating environments and depressed economies have reduced average revenue per use (ARPU) in key markets like Nigeria, South Africa and few others.

    The Nigerian simcard fine on MTN Nigeria,  which was reduced to N330 billion after much negotiation among other regulatory and operations challenges mentioned above impacted negatively on the group’s bottom line with a dip in profit […]

  • Stomach infrastructure program is way of life – Fayose

    Stomach infrastructure program is way of life – Fayose

    Ekiti State Governor, Mr. Ayodele Fayose, has described his Stomach Infrastructure Program as a way of life which he is not ready to jettison anytime soon.

    Fayose made this assertion while speaking with journalists after a special session with widows from across the state at Funmilayo Olayinka Women Development Centre, Fajuyi, Ado Ekiti on Tuesday.

    Promising to continue with his best in making the widows happy, the Governor assured them that he’ll ensure their quota in the poverty alleviation scheme whereby N5,000 […]