Category: Development
FG Sets Ultimatum for Abuja-Lokoja-Benin Road Contractors: Sign Contract or Forfeit Job
The Federal Government has issued a stern ultimatum to construction companies working on the Abuja-Lokoja-Benin highway, demanding their prompt signing of a N870 billion contract by Thursday, April 25, and Friday, April 26, 2024. Failure to meet this deadline will result in their removal from the project. Minister of Works, David Umahi, announced the deadline,…
Lagos State Government Doubles Minimum Wage for State Workers
In a significant move aimed at improving the welfare of civil servants in Lagos State, Governor Babajide Sanwo-Olu has announced a doubling of the minimum wage. Effective immediately, the minimum wage for Lagos state workers has been increased from 35,000 Naira to 70,000 Naira. The announcement comes as welcome news to thousands of workers across…
Ogun State Government Expresses Condolences to Victims of Ado Odo/Ota Rainstorm Destruction
Following the devastating effects of Sunday’s rainstorm in parts of Sango, Ado Odo/Ota Local Government Area of Ogun State, the state government has extended its sympathies to affected residents. The rainstorm resulted in the destruction of property and infrastructure in various communities. In a statement signed by the Special Adviser on Media, Hon. Kayode Akinmade,…
Nigerian Consumer Credit Corporation Launches Online Portal for Consumer Credit Applications
The Nigerian Consumer Credit Corporation (CREDICORP) has unveiled an online portal to facilitate consumer credit access for Nigerians, aligning with the President’s directive to expand credit availability across the country. The newly launched portal, accessible at credicorp.ng, provides a platform for working Nigerians to register their interest in obtaining consumer credit. This initiative, implemented in…
Federal Government Cancels 924 Inactive Mining Licenses to Enhance Industry Transparency
In a bid to bring greater transparency to Nigeria’s mining sector, the federal government has made the decision to cancel 924 inactive mining licenses across various sectors including exploration, mining, small-scale mining, and quarrying. The announcement was made by Mr. Dele Alake, the Minister of Solid Minerals Development, during a press conference held on Wednesday….
Nigeria Launches New Fiscal Incentives to Revitalise Oil & Gas Sector, Aiming to Attract $10 Billion Investment
In a significant move aimed at reviving Nigeria’s oil and gas industry and bolstering its contribution to the economy, Wale Edun, OFR, Minister of Finance and Coordinating Minister of the Economy, presided over a signing ceremony endorsing the Consolidated Guidelines for the implementation of Fiscal Incentives for the Oil & Gas Sector. The ceremony took…
Ekiti State Polytechnic Gets New Governing Council to Drive Development
Today marks a significant milestone in the journey of repositioning the Ekiti State Polytechnic, Isan Ekiti, as the institution inaugurates its new Governing Council. The constitution of this council, comprising individuals of impeccable credentials and track records, signals a renewed commitment to excellence and progress in the academic landscape of the state. In his address…
Ojumele-Ajegunle Road Damage: Human Error, Not Project Deficiency, Says Ogun Governor’s Aide
The recent damage to the newly constructed road at Ojumele-Ajegunle in Makun-Sagamu, Sagamu Local Government Area of Ogun State, has been attributed to human error rather than project deficiency, according to Hon. Kayode Akinmade, Special Adviser on Media to Governor Dapo Abiodun. In a press statement released in Abeokuta, the Ogun State capital, Akinmade clarified…
Banks Retain N530 Billion CBN Funds Amidst Temporary Halt in Support Schemes
Amidst a temporary suspension of all Central Bank of Nigeria (CBN) support funds by the current governor, Olayemi Cardoso, banks in the country continue to retain over N530 billion in unutilized intervention funds. According to recent financial statements reviewed, nine banks still hold substantial amounts of intervention funds designated for distribution to various recipients. Leading…
Diesel Prices Expected to Drop to N700/litre Following Dangote’s Move
The Independent Petroleum Marketers Association of Nigeria (IPMAN) is eyeing a potential reduction in diesel prices to N700 per litre in the wake of Dangote refinery’s recent price adjustment. Hammed Fashola, the National Vice President of IPMAN, expressed optimism regarding the anticipated decrease in diesel prices, attributing it to the impact of Dangote refinery’s actions….