Tag: FG
Federal Government Begins Sale of Subsidized Milled Rice to Nigerians
Abuja, Nigeria – The Federal Government has officially commenced the sale of 30,000 metric tonnes of milled rice to the Nigerian populace at a subsidized price of N40,000 per 50-kilogram bag. The initiative, launched on Thursday in Abuja, is part of a broader food intervention program aimed at easing the burden of rising food costs…
President Tinubu Visits China Railway Construction Corporation, Reaffirms Commitment to Ibadan-Abuja-Kaduna-Kano Railway Segments
On Monday in Beijing, President Bola Ahmed Tinubu visited the China Railway Construction Corporation (CRCC), where he reaffirmed his administration’s commitment to the completion of the Ibadan-Abuja-Kaduna-Kano railway segments. The President recognized CRCC as a reliable partner in Nigeria’s infrastructure development and praised the company’s ongoing railway projects in the country. During the visit, President…
President Tinubu Visits Huawei’s Beijing Research Centre, Unveils DigiTruck Initiative for Nigeria
During a visit to the Beijing Research Centre of Huawei Technologies, President Bola Ahmed Tinubu was presented with Huawei’s latest innovation, the DigiTruck—a mobile ICT classroom designed to boost digital literacy in underprivileged communities across Nigeria. The unveiling marks a significant step in advancing digital education and bridging the technology gap in the country. In…
FG Vows Action as Independent Marketers Defy Government, Sell Fuel at N1,000/litre
Abuja, August 27, 2024 — The Federal Government has vowed to take decisive action against independent oil marketers selling petrol at exorbitant prices, with some stations reportedly charging between N900 and N1,000 per litre. This defies the Nigerian National Petroleum Company (NNPC)’s efforts to maintain pump prices within the range of N568 to N617 per…
Nigeria’s GDP Grows by 3.19% in Q2 2024, Driven by Services Sector
Abuja, August 27, 2024 — Nigeria’s Gross Domestic Product (GDP) recorded a notable year-on-year growth of 3.19% in real terms for the second quarter of 2024, reflecting an uptick in the nation’s economic performance. This growth surpasses the 2.51% growth rate recorded in the corresponding quarter of 2023 and also marks an improvement from the…
President Tinubu Approves New Appointments to TETFund Board Amid NELFUND Disbursements
In a significant move aimed at enhancing the quality of tertiary education in Nigeria, President Bola Tinubu has approved the appointment of several distinguished Nigerians to the board of the Tertiary Education Trust Fund (TETFund). The newly appointed members are: This announcement comes at a pivotal time when the Nigerian Education Loan Fund (NELFUND) has…
Nigerian Education Loan Fund Expands Reach with New Onboarding of State-Owned Institutions
The Nigerian Education Loan Fund (NELF) continues to make significant strides in its mission to provide accessible financial aid to students across the country. As of the latest update, a total of 86 state-owned institutions have been successfully onboarded onto the NELF portal, expanding the reach and impact of the student loan program. In a…
President Tinubu Assures Citizens of Economic Recovery Amid Engagement with Traditional Rulers
Abuja, Nigeria – President Bola Tinubu has affirmed that the nation’s economy is on a gradual but steady path to recovery, assuring citizens that his administration is committed to addressing their needs more effectively. This statement was made during a meeting with traditional rulers at the State House on Thursday, led by the Sultan of…
National Assembly Approves Amendment to Finance Act, Introducing 70% Tax on Banks’ FX Profits
Abuja, Nigeria – In a significant legislative move, the National Assembly has approved an amendment to the Finance Act that imposes a 70% tax on substantial foreign exchange (FX) profits earned by banks in 2023. The decision was finalized on Tuesday during the plenary sessions of both chambers, following the review of the Joint National…
FG Allocates N438 Billion to States and FCT for NG-Cares Program
Abuja, Nigeria – In a major move to bolster economic resilience and support vulnerable communities, the Federal Government has allocated N438 billion to the 36 states and the Federal Capital Territory (FCT) under the Nigeria Community Action for Resilience and Economic Stimulus (NG-Cares) Program. The NG-Cares Program, formerly known as the Nigeria COVID-19 Action Recovery…