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Tuesday, August 11, 2020

Nigeria to tackle 17m housing deficit with N100b reserved in 2017 budget – Minister

The Nigerian government has  earmarked N100 billion in 2017 budget for Family Homes Fund, which was designed to catalyse delivery of affordable homes to Nigerians, Minister of Finance, Mrs. Kemi Adeosun, said saturday in Washington DC, United States. The finance minister Adeosun, who disclosed this...

Give more priority to investment in infrastructure, IMF tells Nigerian govt

The International Monetary Fund (IMF) advised the federal government to give more priority to investment in infrastructure so as to address the high level of poverty in Nigeria. The Director, African Department of the IMF, Abebe Aemro Selassie, made this call at a media briefing...

With water deficit of 500m gallon daily, Lagos seeks N60b to construct Adiyan Water Project

The Lagos State Government says it will need N60 billion to construct the phase two of the Adiyan Water Project in order to provide portable water for residents of the state. Commissioner for the Environment, Dr. Babatunde Adejare said this at a press briefing held...

Housing deficit: FG provides N500 billion to FMBN for mortgage facilities

The Federal Government says it has provided N500 billion to resuscitate the Federal Mortgage Bank of Nigeria, FMBN, to make mortgage facilities easily available to Nigerians. Mustapha Baba-Shehuri, the Minister of State for Power, Works and Housing, announced this in Lafia on Monday when he...

Nigeria begins construction of N500m earth dam water scheme in Otuo, Edo

Otuo (Edo) – The Federal Government has commenced the construction of an Earth Dam at Otuo in the Owan-East Local Government Area of Edo, in line with its policy to provide potable water to rural dwellers across the country. The Managing Director of the Benin-Owena...

CBN offers $100 mln in currency forward

LAGOS, April 6  - Nigeria's central bank will offer $100 million in currency forwards on Thursday, to be settled within 60 days, currency traders said, quoting a notice from the bank. The bank has been selling dollars to try to narrow the spread between the...

IMF says three Nigerian banks undercapitalised with CARs below 8%

..warns of further naira devaluation  Three Nigerian banks were undercapitlised with their capital adequacy ratio (CAR) far below the regulatory threshold, the International Monetary Fund (IMF) said in a document. Although the IMF did not mentioned the names of the banks but said in its final...

57.5% of Nnamdi Azikwe International airport runway repairs completed

Nigerian Government  on Thursday said the runway repairs ongoing at the Nnamdi Azikwe International airport is 57.5 percent completed. The FG also disclosed that escalators, lifts and lounge will be installed at Terminal building to ease the movement for the aged and the physically challenged. Also,...

GE sole bidder for $2 bln Nigeria rail concession -procurement adviser

ABUJA, March 29 (Naija247news) - A consortium led by General Electric submitted the only bid for a Nigerian railway concession project worth around $2 billion for two lines connecting northern cities to others in the south, a procurement process adviser said on Wednesday. Bids had...

Nigeria Woos Japanese Investors In Special Economic Zones

Japanese companies are invited to take advantage of the various business opportunities that will be presented by the Special Economic Zones being established in various parts of the country. The zones which will serve as manufacturing hubs will have the necessary infrastructural facilities to support...
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