Federal Executive Council has approved N17.4 billion for provision of broadband infrastructure across the six geopolitical zones for micro, small, and medium enterprises as well as tertiary and higher learning institutions. This will come in the form of a supply of IT communications equipment and furniture for communication centres, in[Read More…]
News
NESG Says $2.5m Badagry Seaport will Boost Economy
The Nigeria Economic Summit Group and the Center for the Promotion of Private Enterprise have stated that the Badagry Deep Seaport has the potential to enhance international trade between Nigeria and other nations, especially within the subregion of West Africa. A member of NESG, Dr Emeka Nwosu, said that the[Read More…]
FG, States And LGAs Share N700.235bn For Sep 2022
The Federation Account Allocation Committee (FAAC) has shared N700.235 billion to the three tiers of government as federation allocation for September, 2022. From this stated amount, inclusive of Gross Statutory Revenue, Value Added Tax (VAT), and Electonic Money Transfer Levy (EMTL), the Federal Government received N262.636 billion, the States received[Read More…]
Fed Govt’s Earnings From Spectrum Sales Rise To $1.09bn
The Federal Government through the Nigerian Communications Commission (NCC) is set to make at least $1.09bn (N476bn) from the sale of four 5G spectrums. This is after the NCC revealed in a new ‘Information Memorandum on 3.5 GHz Spectrum Auction’ that it has set the reserve price for two more[Read More…]
CBN Approves Dollar Sales By Payment Service Banks
The Central of Nigeria (CBN) has released supervisory framework for Payment Service Banks. The framework among other things empowered the PSB operators to sell foreign currencies, especially dollars, to authorised foreign exchange dealers. The CBN framework also authorised the PSBs to accept deposits from individuals and small businesses, which shall[Read More…]
In One Year , Airfares Rose By 96.87%
The National Bureau of Statistics has stated that air transportation rose by 96.87 per cent in one year. In its report titled ‘transport fare watch’ (September 2022), the Bureau noted that the average fare paid by air passengers for specified routes single journey, increased by 96.87% from N36,922.97 in September[Read More…]
BUHARI HONOURS ABDUL SAMAD RABIU OVER CONTRIBUTIONS TO TERTIARY EDUCATION DEVELOPMENT WITH NEAPS AWARD
For Abdul Samad Rabiu, the year 2022 can easily be described as a year of Awards both in Nigeria and globally. His philanthropic activities have continued to catch the eyes of national and international leaders even as he spares nothing to put smiles in the faces of the less privileged.[Read More…]
FG Retains N4.23trn Revenue, Records N5.33tn Deficit in Eight Months
The Federal Government has disclosed that it recorded a deficit of N5.33tn between January and August 2022, which is N430.82bn above the prorate level. FG spent N9.56tn from January to August 2022, out of N11.55tn pro rata expenditure projected for the period. Of the N9.56tn spent in eight months, N3.52tn[Read More…]
Startup Act Will End Youth Harassment, Says Minister
The Minister of Communications and Digital Economy, Prof. Ali Pantami, says the Digital Innovation and Entrepreneurship Council, chaired by the President, Major General Muhammadu Buhari (retd.), would stop law enforcement agencies from harassing youths carrying laptops. Pantami disclosed this to State House correspondents after meeting the President who had recently[Read More…]
FG Earmarks N30bn For Nigeria Air, New Projects
The Federal Government has earmarked the sum of N29.87bn as working capital for the proposed national carrier – Nigeria Air, and for 46 new projects in the aviation sector. An analysis of the 2023 budget presented to the National Assembly by President Muhammadu Buhari showed the amount allocated for the[Read More…]
Consumer TV
FG Revenue Rises 76% to N12.5tn, Fueled by Tax and Oil Gains — Budget Office
The Federal Government’s earnings have increased by 76 percent, rising from N7.1 trillion in 2022 to N12.5 trillion in 2023, due to higher taxes and oil revenues. This information was revealed in the recently released 2025-2027 Medium Term Expenditure Framework and Fiscal Strategy Paper from the Ministry of Budget and[Read More…]