29 C
Lagos, South Africa and New York
Sunday, July 5, 2020

Fashola inaugurates 100 housing units in Ogbomosho

Mr Babatunde Fashola, the Minister of Power, Works and Housing, has inaugurated 100 housing units in Ogbomosho, Oyo state, a project funded by the Federal Mortgage Bank of Nigeria (FMBN). Inaugurating the housing units on Friday, Fashola said meeting the housing needs of Nigerians was...

Investors said to consider investing in Arik, Aero Contractors Airlines

Some private equity investors are reportedly seriously considering investing in Arik Air and Aero Contractors – two distressed local airlines that have been taken over by the Asset Management Corporation of Nigeria (AMCON). The Minister of Finance, Mrs. Kemi Adeosun, who revealed this during an...

Federal Govt. approves $1bn loan from China Exim Bank to finance Gurara Hydro Power Project

The Federal Executive Council (FEC) has approved the financing of the Gurara Hydro Power Project II by the Forum on China-Africa Cooperation (FOCAC) to the tune of one billion dollars. The Minister of Water Resources, Alhaji Suleiman Adamu disclosed this when he briefed State House...

Nigeria to Privatize 10 Electricity Utilities To Boost Power Supply

Nigeria plans to sell 10 electricity generation companies to private investors this year as it seeks to boost power supply in the West African nation, the Guardian reported. The government has set up a committee for the sale of the remaining companies established under the...

AfDB targets $8 billion investments in Nigeria by 2019

The African Development Bank, (AfDB) would increase its investments in Nigeria to $8 billion by next year, the President, Dr. Akinwumi Adesina, has revealed. Speaking at the opening of the bank’s Country Office building in Abuja, Thursday, he said that the institution would...

Nigeria to Start Building $5.8 Billion Power Plant in 2018

Government in funding talks with China’s Export-Import Bank Nigeria’s power generation and transmission insufficient Nigeria plans to start building a $5.8 billion hydro-power plant in the eastern Mambila region this year, after it agrees on loan terms with China’s Export-Import Bank. “We hope to break ground this...

Nigeria’s Telecom sector leaps to 1.8% growth

 Nigeria’s telecommunications sub-sector jumped to 1.8 per cent in the first quarter of this year, Naija247news has learnt This, according to latest data from the National Bureau of Statistics (NBS), shows a general improvement in the Information and Communication sector. The telecoms and information services, which...

World Bank seeks $4.5 billion investments to support Nigeria’s infrastructural deficits

by David Malingha Doya Bank expects to put $2.5 billion in projects in 18 months Nigeria plans to boost spending in roads, rail, ports, power The World Bank plans to increase its funding to Nigeria by $4.5...

CBN extends N200bn commercial agric fund to Non-Interest banks

The Central Bank of Nigeria (CBN) yesterday said that Non-Interest Financial Institutions (NIFIs) can now participate in the N200 billion Commercial Agricultural Credit Scheme (CACS). The CBN disclosed this in the revised guidelines for the scheme released yesterday via a circular titled ‘Amendment to...

Works, Housing ministry has created 193,469 jobs in two years – Fashola

The Ministry of Power, Works and Housing has created 193, 469 jobs, with 40,429 direct and 153,040 indirect jobs, within the two years of President Muhammadu Buhari’s administration, the minister, Babatunde Fashola, said Tuesday. Speaking in Abuja at a town hall meeting to celebrate the...
Open chat
Send us your story