• Nigeria imports $18m tooth picks yearly – Minister

    Nigeria imports $18m tooth picks yearly – Minister

    It was gathered that the Federal Government yesterday bemoaned Nigeria’s over dependence on imports for its daily needs including food items.

    Minister of Agriculture and Rural Development, Chief Audu Ogbeh said it was ridiculous that the country spends over $18m annually on importation of tooth picks.

    Asked how he arrived at the figure, he said it was from a recent Central Bank of Nigeria (CBN) report, stressing that it was pathetic that Nigeria was spending its hard earned resources on non-essential items. […]

  • CJN, other judicial officers’ remuneration, hit N33bn yearly

    CJN, other judicial officers’ remuneration, hit N33bn yearly

    According to reports, the Chief Justice of Nigeria (CJN), federal judicial officers, and State Judicial officers have in the last one year guzzled a total sum of N33.47 billion as emoluments and other allowances, checks by the Economic Confidential has revealed.

    The report obtained and computed by the Economic intelligence magazine and shared by PRNigeria, yesterday, showed annual salaries, regular and non-regular allowances of 934 judicial officers in the country, including the CJN.

    These include: vehicle maintenance and fuel, Personal Assistants, domestic […]

  • Nigerians spend N3.5trn generating their own electricity yearly – Onanuga

    Nigerians spend N3.5trn generating their own electricity yearly – Onanuga

    Due to irregular supply of public electricity, about N3.5 trillion ($21.9 billion) is spent yearly by businesses, families and others in Nigeria to buy fuel for power generation.

    Disclosing this yesterday at the ongoing 2016 Huawei Connect conference in Shanghai, China, the Business Leader (Distribution), Sahara Group, the firm with majority stakes in Ikeja Electricity Distribution Company, Rotimi Onanuga, said that in addition to the challenge, “the power infrastructure in Nigeria is aging.”

    Onanuga lamented that despite the rich energy reserves, the […]

  • Africa spends $35b yearly on food importation – IFAD president

    Africa spends $35b yearly on food importation – IFAD president

    Kanayo Nwanze, the President of the International Fund for Agricultural Development, says Africa spends $35 billion a year on food importation.

    This was contained in a statement issued by the IFAD and made available to the newsmen on Monday in Abuja.

    The statement quoted Nwanze as making the disclosure at the opening of a three-day African Union-European Union Conference of Ministers of Agriculture, tagged: “Investing in a Food Secure Future.”

    He said the conference, which was convened by the Government of The Netherlands, […]

  • N37bn yearly not enough to solve housing problem, says Fashola

    N37bn yearly not enough to solve housing problem, says Fashola

    The annual budget of N37 billion as passed in the 2016 appropriation cannot enable the country to meet its housing deficit in the nearest future, Mr. Babatunde Fashola, the Minister for Power, Works and Housing, has said.

    Fashola made the submission while appearing before the House of Representatives Committee on Housing to update lawmakers on the implementation details of the ministry’s housing policy.

    He told the lawmakers the Ministry was made up of professionals of diverse background armed with necessary expertise to […]