Author: tolulope

FG begins building of 300,000 houses this week – Presidency

FG housing project

The Senior Special Assistant to the Vice President on Media and Publicity, Laolu Akande, on Sunday disclosed that the Federal Government’s plan to build 300,000 affordable houses for Nigerians will start this week. The houses will be built under the Social Housing element of the government’s Economic Sustainability Plan. In a statement titled ‘About 20 states indicate interest in ESP plan to build 300,000 houses for Nigerians at about N2m each’, Akande said about 20 state governments had indicated interest in joining the housing plan. “This week, the portal to invite Nigerians interested either as beneficiaries of the Social Housing or as delivery...

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FG signs investment promotion agreement with Singapore, Morocco

FG signs investment promotion agreement with Singapore, Morocco

The Federal Government on Monday announced that it had signed an investment promotion agreement with Singapore and Morocco. It also stated that it was in talks with the World Bank to develop a strategic plan for trade and investment in Nigeria. Permanent Secretary, Federal Ministry of Industry, Trade and Investment, Nasir Sani-Gwarzo, disclosed this at the virtual/physical technical session of officials of the 12th meeting of the National Council on Industry, Trade and Investment in Abuja. The theme of the meeting was “Revitalisation of the industry, trade and investment sector in Nigeria in the post-COVID-19 pandemic era.” Sani-Gwarzo said the FMITI was reviewing many...

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FG executes 30 housing projects in Kwara

FG housing in Kwara State

The Federal Government has executed more than 30 projects across the three senatorial districts in Kwara State from January 2019 till date. The projects, executed by the Special Projects Unit of the Federal Ministry of Works and Housing, included health centres, blocks of classrooms, solar-powered boreholes and roads, among others. Mr Ibrahim Usman of the Federal Ministry of Works and Housing made the disclosure in Babaloma, Ifelodun Local Government Area of Kwara state during a sensitisation tour of some of the housing projects. According to Usman, who was the team leader for the sensitisation team of the projects the Federal Government embarked on...

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FG granted N341.94bn waivers in three years –Minister

minister of finance

The Federal Government said on Monday that it granted import duty waiver worth N341.94bn from August 2017 to August 2019. The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, disclosed this at a one-day sensitisation seminar on the Automated Import Duty Exemption Certificate at the Nigeria Customs Training College, Kano. The Minister, who was represented by the Kano State Commissioner of Finance, Alhaji Shehu Na-Allah Kura, said between 2011 and 2015, the Federal Government had conceded about N1.024tn through the grant of only four types of incentives including import duty waivers, VAT waivers, pioneer status non-oil companies and pioneer status...

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NNPC projects N11tn revenue for 2021, $14bn industry spending

The Nigerian National Petroleum Corporation plans to generate N11.39tn revenue in 2021, while projecting an increase in oil and gas output and sales between 2021 and 2023. According to a written presentation to the National Assembly by the NNPC, the estimated revenue for 2021-2023 was underpinned by a total base production of 1.864 million barrels of oil per day in 2021, 2.091 in 2022, and 2.382 in 2023. The Group Managing Director of the NNPC, Mele Kyari, was at the House of Representatives on Thursday last week to present the 2020 budget performance and 2021 estimates proposed by the corporation, the first...

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Access Bank, IFC Empower 50 Female Entrepreneurs

Access Bank, IFC Empower 50 Female Entrepreneurs

Access Bank Plc and the International Finance Corporation (IFC) have empowered 50 women across Africa who graduated from the bank’s ‘W’ Womenpreneur pitch-a-ton Africa initiative.The participants were put through a mini Masters in Business Administration (MBA) programme by the International Finance Corporation (IFC), a member of the World Bank Group. The programme, in its second edition, had over 40,000 applications which was later pruned down to 50 participants, who took part in the free mini Masters in Business Administration (MBA) certification programme.The Womenpreneur Pitch-a-ton Africa 2020 campaign was designed to provide female owned businesses across Africa an opportunity to access to...

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Firm Launches Grant for SMEs

A media platform in Nigeria focused on young audience demographic, Pop Central, has launched the Small Medium Enterprises (SMEs) Ad Grant.The organisation said the initiative would afford small businesses the opportunity of free exposure on live television. According to a statement made available to THISDAY, the media platform would be giving verified SME in Nigeria millions of naira worth of free advert grants via its station, Pop Central TV, DStv channel 189.Chief Executive Officer, Pop Central Yinka Obebe , stressed that SMEs are crucial for local and economic development. He said: “According to research, in Nigeria, SMEs contribute 48 per cent of...

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Crude in commercial quantity discovered in Benue Trough – NNPC

Crude oil discovery in Benue state

The Nigerian National Petroleum Corporation on Thursday said the volume of crude oil discovered in Benue Trough was in commercial quantity. It said Nigerian geologists were spearheading efforts in the discovery of the commodity in the trough. The corporation’s Group Managing Director, Mele Kyari, disclosed this in a statement issued in Abuja by NNPC’s spokesperson, Kennie Obateru. In October last year, NNPC announced the discovery of hydrocarbon deposits in the Kolmani River II Well on the Upper Benue Trough, Gongola Basin, in the North Eastern part of Nigeria. In its statement on Thursday, the NNPC said it would grow the nation’s hydrocarbon reserves to...

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Nigeria’s wheat production may rise to 450,000MT

Wheat producton in Nigeria

Nigeria wheat farmers have increased the forecast for the country’s wheat harvest for 2020/2021 by seven per cent on the back of availability of improved seeds. Wheat is now projected to yield 450,000 metric tonnes, up from 420,000 metric tonnes produced by farmers in the last season, the President, Wheat Growers Association of Nigeria, Salim Muhammad, confirmed this to The PUNCH on Tuesday. Under the Anchor Borrowers Programme of the Central Bank of Nigeria, Muhammad said, about 100,000 farmers would be given the necessary incentives to improve wheat production. After harvesting the wheat, he said the grains would be purchased by flour millers...

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FG releases funds to Discos for mass metering

The Federal Government has released funds to power distribution companies for the mass deployment of about six million free electricity meters to power consumers nationwide. It was gathered that some senior officials of power distribution companies met with the Central Bank of Nigeria on Tuesday and funds were released for the purpose of mass metering in Nigeria. The amount released was not made public. However, The PUNCH had exclusively reported on Monday that the Federal Government would spend between N269.38bn and N497.13bn for the provision of the six million free meters to various unmetered power users. The Managing Director, Abuja Electricity Distribution Company,...

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