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Saturday, June 6, 2020

Emefiele urges private investors to use local bonds to rebuild Nigeria’s infrastructure

Godwin Emefiele, Central Bank Governor has urged Nigeria corporate companies to float bonds so as to tackle the country's infrastructural deficit. In a speech to President Buhari for signing the Executive Order Number 7, which opened the opportunity for private companies, such as Dangote...

FEC Approves N58.488bn for Road Construction

The Federal Executive Council (FEC) presided over by Vice President Yemi Osinbajo yesterday in Abuja approved N58.488 billion for the construction of Bida-Sachi-Nupeko road and Nupeko-Patigi bridge across the River Niger. Briefing reporters at the end of the weekly cabinet meeting, the Minister of Works...

Nigeria, China partner to enhance security, others

China has said it stands ready to enhance its security cooperation, expand inclusive development, improve connectivity and deepen people-to-people understanding with Nigeria through the Belt and Road initiative (BRI). Chinese Ambassador to Nigeria, Mr Zhou Pingjian, said this at the Abuja-Beijing Consensus Roundtable in Abuja...

Ebonyi road project attracts $70m loan

The African Development Bank (AfDB) has approved a $70 million loan for a road project in Ebonyi. In a statement, the bank said it would provide $40 million. Its co-financier, the Africa Growing Together Fund (AGTF) would contribute $30 million. It also said the bank...

FEC approves N6.17bn for dualisation of Ikot Ekpene-Aba-Owerri Road

The Federal Executive Council (FEC) on Wednesday approved N6.17 billion for augmentation of the contract for the construction of Ikot-Ekpene border-Aba-Owerri Road, Section 1, Phase 1. Suleiman Zarma, the Minister of State for Power, Works and Housing, disclosed this while briefing State House correspondents after...

NASS to approve N563.643bn promissory note, bond to local contractors

Local contractors may soon heave a sigh of relief as the National Assembly on Wednesday approved the issuance of promissory note and bond worth N563.643 billion for the payment of promissory note and bonds to them. Hon. Adeyinka Ajayi, chairman, House Committee on...

Nigeria loses N7 billion to tanker accidents in 25 weeks – FRSC

The Federal Road Safety Corps (FRSC) says the country has lost N7.157 billion to road traffic accidents involving 116 petroleum product tankers in the first half of 2018. Corps Marshal of the FRSC, Boboye Oyeyemi, disclosed this at a stakeholders’ forum on haulage transportation in...

FEC approves N185 billion for 14 roads infrastructure

The Federal Executive Council (FEC) yesterday approved N185. 276 billion for rehabilitation, construction and repairs of 14 roads. Special Adviser on Media and publicity to the President Femi Adesina, who briefed reporters after the meeting, was accompanmied by Minister of Health Prof. Isaac Adewole, Minister...

Reps accuse BPP of playing politics with second Niger bridge contract

The House of Representatives Committee on Works yesterday accused the Bureau for Public Procurement (BPP) of delaying the due process of awarding second Niger bridge contract, even as it disclosed that President Muhammadu Buhari could not award the project because of the sabotage in...

Nigeria awards $7 bln rail project to Chinese state rail firm -Xinhua

SHANGHAI, May 16 - Nigeria has awarded a $6.68 billion contract to the China Civil Engineering Construction Corporation (CCECC) for work on a major segment of a railway linking the country’s commercial hub Lagos, in the southwest, and Kano in the north, Xinhua...