Category: Development
Federal Government Approves Contract for 258 km Concrete Superhighway in Kebbi and Sokoto States
The Federal Executive Council (FEC) has sanctioned a contract for the construction of a 258-kilometer, three-lane roadway that will feature continuous reinforced concrete pavement in Kebbi and Sokoto States. The project is part of a larger initiative to enhance road infrastructure across Nigeria. This approved section is part of the 1,000-kilometer superhighway, which will eventually…
VP Shettima Departs Abuja for the 79th UNGA in New York
Vice President Kashim Shettima has departed Abuja for New York to lead Nigeria’s delegation at the 79th Session of the United Nations General Assembly (UNGA). The trip comes following a directive from President Bola Ahmed Tinubu, who asked Shettima to represent the country at the global forum while he focuses on urgent domestic issues, including…
Nigeria Signs Agreement with Russian Consortium to Revive Ajaokuta Steel and National Iron Ore Mining Company
The Federal Government of Nigeria has entered into a significant agreement with a Russian consortium for the rehabilitation, completion, and operation of both the Ajaokuta Steel Company Limited (ASP) and the National Iron Ore Mining Company Limited (NIOMCO). This development comes after years of efforts to revitalize Nigeria’s steel industry, which has been dormant for…
CBN Appoints New Board for Keystone Bank, Adds Executive Directors
The Central Bank of Nigeria (CBN) has appointed a new board for Keystone Bank, a move aimed at strengthening the leadership and strategic direction of the financial institution. Lady Ada Chukwudozie has been named as the new chair of the board, taking on the critical role of guiding the bank’s policies and ensuring effective governance….
BREAKING: President Tinubu Announces Kickoff of $550 Million Ubeta Gas Project in Rivers State
In a major boost to Nigeria’s energy sector, President Bola Tinubu has officially launched a $550 million upstream gas development project in Rivers State. The project, a collaboration between the Nigerian National Petroleum Corporation Ltd. (NNPCL) and TotalEnergies, will focus on developing the Ubeta gas field. The announcement was made by President Tinubu’s Special Adviser…
Nigeria Takes Major Step Toward Energy Self-Sufficiency: Diesel and PMS Now Manufactured Locally
In a historic move, Nigeria has successfully commenced the local production and sale of Diesel and Premium Motor Spirit (PMS) for the first time in years, marking a significant milestone in the nation’s journey toward energy self-sufficiency. The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, and the Chairman of the…
Nigeria Takes Major Step Towards Energy Self-Sufficiency: Crude Purchase and Product Sales in Naira Commence
Abuja, Nigeria – September 13, 2024 In a landmark development aimed at reducing pressure on the naira, eliminating transaction costs, and enhancing the availability of petroleum products, the Federal Government has officially launched the sale of crude oil to local refineries and the corresponding purchase of petroleum products in naira. The Honourable Minister of Finance…
Federal Government Inaugurates Committee to Review Salary Adjustments Following New Minimum Wage
In a move aimed at implementing the recently enacted National Minimum Wage Act, the Federal Government has inaugurated a 16-member committee tasked with reviewing and negotiating salary adjustments in line with the newly established minimum wage of ₦70,000. The inauguration took place on Thursday, signaling the government’s commitment to ensuring fair wage increases across various…
Petroleum Marketers Seek Clarity on Dangote Refinery Petrol Pricing
The President of the Petroleum Products Retail Outlets Owners Association, Billy Gillis-Harry, has called on the Dangote Refinery to disclose the pricing of its petrol, stating that local marketers are eager to engage with the refinery but are currently unaware of its pricing structure. Gillis-Harry expressed that the lack of transparency has made it impossible…
NELFUND Clarifies Delay in August Stipend Disbursement
The Nigerian Education Loan Fund (NELFUND) has issued a statement addressing the delay in the disbursement of the August stipends to students. In a press release dated September 12, 2024, NELFUND attributed the delay to ongoing payment processing, which includes conducting essential security checks to protect public funds. Mrs. Oseyemi Oluwatuyi, Director of Corporate Communications…