The Senate on Wednesday approved the 2023-2025 Medium Term Expenditure Framework(MTEF) and Fiscal Strategy Paper (FSP) for the country. This followed the adoption of the report of the Senate Committee on Finance at plenary.As part the approval, the Senate requested that 10 out of the 63 Government Own Enterprises(GOEs) be exited from the budget and placed on cost of collections to serve as a test case for others in the future. The GOEs included Nigeria Communication Commission(NCC,) Cooperate Affairs Commission(CAC) Nigeria Ports Authority (NPA),Nigerian Maritime Administration and Safety Agency (NIMASA)and Nigeria Upstream Petroleum Regulatory Commission(NUPRC). Others were Federal Inland Revenue…
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The Federal Government says plans are ongoing to add additional 817 Megawatts (MWs) of electricity to the national grid to boost power supply within the FCT and its environs. Mr Sule Abdulaziz, the Managing Director of Transmission Company of Nigeria (TCN), said this in Abuja while inspecting ongoing projects in the Federal Capital Territory (FCT) on Wednesday. Abdulaziz said that the project which belonged to TCN and referred to as the Abuja Feeding Scheme, was being funded by the French Development Agency (AFD), a donor agency. He said when completed, it would contribute an additional 1. 465 transmission lines to…
The National Drug Law Enforcement Agency, (NDLEA) and the International Criminal Police Organisation (Interpol), have signed a Memorandum of Understanding (MoU) that would enable the agency contribute to the pool of global criminal data. This is contained in a statement by the Director, Media and Advocacy, NDLEA, Mr Femi Babafemi, on Wednesday in Abuja. Speaking at the brief ceremony, the NDLEA Chiarman, retired Brig. Gen. Buba Marwa said that the MOU would enable the agency access criminal records of 195 countries around the world for its use. Marwa said drug business was international in scope while the scourge of drug…
The Chief of Defence Staff Action Committee (CDSAC), has announced the release of all the remaining 23 Abuja-Kaduna train passengers abducted by terrorists on March 28. A statement by the Secretary of CDSAC, Prof. Usman Yusuf, said the release of the hostages was secured on Wednesday. The statement reads: “I am pleased to announce to the nation and the world that at 1600Hrs (4:00pm) today, Wednesday, 5-10-2022. “The seven-man presidential committee assembled by the CDS, Gen. Lucky Irabor, secured the release and took custody of all the 23 remaining passengers held hostage by Boko Haram Terrorists following the attack on the…
Trading closed on the floor of the Nigerian Exchange Ltd. (NGX) Wednesday with market capitalisation losing N227 billion or 0.09 per cent to close at N26.6 trillion from N26.373 trillion on Tuesday. The All-Share Index (ASI) also lost 43.04 points or 0.09 per cent to close at 48,836.70 compared with 48,879.74 posted on Tuesday. The market’s weak performance was driven primarily by extended selloffs in Tier-one banks such as Guaranty Trust Holding Company, (GTCO), FBN Holding, Zenith Bank and Access Holding. Accordingly, the year-to-date returns moderated to 14.33 per cent. However, the market closed negative with 12 gainers against 22…
Joseph Kruzich, Public Affairs Officer of the U.S Consulate in Lagos, says Nigerian youths are active, dynamic and difference makers, especially in the private sector. Kruzich, who described the youth as the future of the country, spoke on Wednesday, at a reunion and debriefing conference organised by the consulate for the 2022 Mandela Washington Fellows. The fellows recently completed their fellowship programmes at various prestigious institutes and universities in the U.S. The News Agency of Nigeria (NAN) reports that the Mandela Washington Fellowship was established in 2014 by the U.S. government. It is to empower young African leaders in Sub-Saharan Africa through…
Mr Adewale Adebote, Federal Ministry of Works Engineer supervising section one of the ongoing Lagos-Ibadan Expressway reconstruction/rehabilitation on Wednesday said the project was over 90 per cent completed. The News Agency of Nigeria (NAN) reports that section one of the Lagos-Ibadan Expressway project stretches from Ojota in Lagos to Sagamu Interchange and is being handled by Julius Berger Nigeria Plc. Section two extends from Sagamu Interchange to Ojoo in Ibadan, and is being handled by Reynolds Construction Company Ltd. Adebote; during inspection of the project, said the construction work was progressing fast because three teams were working simultaneously on various…
By Tony Obiechina, Abuja African Export-Import Bank (Afreximbank) and the Nigerian Government have signed the Host Country Agreement for the first African Medical Centre of Excellence (AMCE) currently under construction in Abuja. The agreement was signed on 30 September 2022 between Professor Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank and Mr Geoffrey Onyeama; Minister of Foreign Affairs, in presence of the Minister of Information and Culture, Mr Alhaji Lai Mohammed; Hon. Joseph Nkama, Minister of State for Health; Dr. George Elombi, Afreximbank Executive Vice President, Corporate Governance and Legal Services; and Mrs. Kanayo Awani, Afreximbank…
The International Foundation for Science, IFS, has awarded a grant worth $15,000 to Dr Gabriel Anyanwu of the Department of Biochemistry, Bingham University, Karu, Nasarawa State, to support his research work, which seeks plant remedies for diabetes and obesity. According to THE CONCLAVE, the IFS is a non-governmental organization based in Sweden. It supports men and women scientists in developing countries to work in their own countries and take on research works that will lead to solving local problems, thereby stemming the tide of brain drain out of the country.
South African Singer, Elaine, has been selected by Spotify, an online streaming platform to join the EQUAL AFRICA programme aimed at spotlighting female artists across the continent. Phiona Okumu, Spotify’s Head of Music for sub-Saharan Africa, in a statement, said Elaine had become Spotify’s EQUAL Africa artiste for the month of October. Okumu said this was coming days after celebrating the fourth anniversary of Elaine’s debut extended play (EP) “Element”. She noted that the programme extended resources and opportunities to women artistes, amplified their music, and exposed their music to a global listenership through EQUAL AFRICA and EQUAL GLOBAL playlists. ”…