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The World Bank has concluded arrangements to commit the sum of $300 million credit to Nigeria, to tackle poverty particularly among the vulnerable. To this end, the Board of the Bank is to give approval for the release of the credit tomorrow for ...
The federal government is carrying out a comprehensive review of tariffs charged on industrial raw materials across all sectors of the Nigerian economy. The Minister of Industry, Trade and Investment, Mr Olusegun Aganga, made this known during the pres...
The management of NIGAZ company has said that River Kolmari, situated between Bauchi and Gombe States border, is capable of producing 10 Megawatts of electricity for the nation. A representative of the firm, Mr Andrey Maslov, said this on Friday ...
The Cross River Government on Friday disbursed N85.4 million to 56 communities under its World Bank assisted programme.
The disbursement was undertaken through its Community and Social Development Agency.
Presenting cheques to the various communities at the Transcorp Hotel, Calabar, Gov. Liyel Imoke commended the them for complementing government's efforts at transforming rural communities.
Imoke said that government-initiated programmes were not meant for urban areas alone since every citizen had equal right and opportunity to government projects.
He expressed satisfaction with the work done by the agency and the way communities designed, utilised and regarded the projects as theirs.
The governor urged them to continue to protect and utilise the projects as government would increase its annual contribution if demands from communities grew.
Imoke said by meeting the conditionality for the execution of project, it meant that they had the passion and commitment.
He advised them to use the funds judiciously and warned them against its mismanagement.
The chairman of the agency, Chief Asuquo Ekpenyong, said the agency had proven to be reliable, fast and cheap mechanism to fast track rural development.
Ekpenyong said it had so far approved 192 Community Development Plans comprising 531 multi-sectoral micro projects.
He said the projects had ``a cumulative cost of N1.666 billion with the agency’s contribution of N1.499 billion. (NAN)
The number of elderly persons on N5,000 monthly stipend by Ekiti State Government under its social security scheme has risen to 19,270. Mr Oluwole Ariyo, the State Commissioner for Labour, Employment and Human Capital Development, told the News A...
The Federal Government on Thursday in Abuja released N400 billion first quarter allocations for capital expenditure in the 2013 budget. This is contained in a statement signed by Mr Paul Nwabuikwu, Spokesman for the Minister of Finance and Coordinating...
The Federation Account Allocation Committee (FAAC) on Thursday in Abuja shared N886.402 billion to the three tiers of government for the month of February. The Minister of State for Finance, Dr Yerima Ngama disclosed this while briefing newsmen o...
As the ad-hoc committee on Petroleum Industry Bill begins their assignment, the Speaker of the House of Representatives, Aminu Waziri Tambuwal, has warned members of the committee to resist inducement attempts by interest groups. The speaker was ...
As the issue of oil bloc ownership continues to occupy the front burner of national discourse, the Nigerian National Petroleum Corporation (NNPC) and other relevant agencies have been asked to make public a comprehensive list of all oil block own...
The Minister of Petroleum Resources, Diezani Alison-Madueke, has lamented the preference for foreign companies to indigenous companies in the execution of jobs in the oil and gas industry. The minister particularly attributed the development to the con...
Satff of Power Holding Company of Nigeria(PHCN) have asked the federal government to explain the reasons it now decided to pay N45billion as their severance package against the N384 billion it ear lier promised. President General, Senior St...
The Nigerian Electricity Regulatory Commission (NERC) has secured the approval of the Presidential Action Committee on Power (PACP) to commence implementation of the alternative metering scheme aimed at ensuring rapid deployment of pre-payment el...
The Nasarawa State House of Assembly on Wednesday passed the state's 2013 appropriation bill of N110 billion into law.
The Majority Leader of the House, Mr Godiya Akwashiki, moved the motion for speedy passage of the bill to enable the State Government deliver dividends of democracy to the people.
Akwashiki (PDP-Nassarawa Eggon West), urged his colleagues to pass the bill to enable the government execute development projects for the benefit of the people.
He said: ``The total amount approved is N110 billion comprising recurrent expenditure of N42.3 billion, representing 38.4 per cent, and capital expenditure of N67.7 billion, representing 61.6 per cent, for the 2013 fiscal year.”
The Minority Leader of the House, Alhaji Adamu Maikatako (CPC-Lafia Central), seconded the motion for speedy passage of the bill.
Maitakato said the passage of the bill would also enable the government to complete various ongoing projects and embark on new projects for the development of the state.
After listening to various contributions, the Speaker, Alhaji Musa Ahmed, directed the clerk to produce a clean copy of the bill for the governor's assent.
Ahmed (PDP-Nasarawa Central), urged the executive to ensure proper implementation of the budget and prompt release of funds to various ministries and agencies.
The speaker commended his colleagues for passing the budget into law, urging them to closely monitor the implementation of the fiscal policy for effective result.
The News Agency of Nigeria (NAN) recalls that Gov. Umaru Al-Makura had on Dec, 12, last year, submitted a budget estimate of N107 billion for the 2013 services for approval by the assembly.
NAN also reports that there was an increase of three billion naira from the initial budget, submitted to the house to enable the executive complete some abandoned projects across the state.
A breakdown of the allocation shows that works got the lion share of N15.7 billion, housing N6.6 billion, education N4.2 billion, commerce N3.9 billion, health N3.7 billion as well as land and survey N3.1 billion.
Other sectorial allocations are: water resources N2.9 billion, sports N1.7 billion, information N1.6 billion, agriculture N1.4 billion and judiciary one billion naira.
Meanwhile, the house has also passed into law a bill for a law to establish the College of Selectors of Chun-Mada and a bill for a law to amend the Nasarawa State Local Government Laws 2003, to create additional chiefdoms in the state.
The Minister of State for Finance, Dr Yerima Ngama, on Monday said the Investments and Securities Tribunal (IST) was critical to the growth and smooth operation of the capital market. Ngama, who made this known in Abuja at the inauguration of the IST b...
The Nigeria Deposit Insurance Corporation (NDIC) on Monday urged judges of the Federal High Court to be `hard on Bank fraudsters', so as to restore depositors' confidence.
Alhaji Umaru Ibrahim, the Managing Director of the Corporation, made the call at a sensitisation seminar on ``The Challenges to Deposit Insurance Law and Practice’’, for judges.
Ibrahim said that the judges' understanding was needed to abate the fraud in the banking system.
He said that deliberate efforts should be geared towards quick dispensation of all pending liquidation-related cases.
Ibrahim said the corporation was faced with difficulties in the execution of court judgments.
He said the corporation had a vulnerable funding base, as well as difficulties in recovering debt owed to failed banks by debtors.
According to Ibrahim, most of the problems stem from poor public awareness and inadequate legal framework.
``The Nigerian judiciary, legal practitioners and other esteemed stakeholders have important roles to play in ensuring that the mandate of the Corporation is realised.
``As our partners and stakeholders, I urge you to use your good offices and privileged positions to ensure that the corporation is empowered to safeguard the Nigeria banking system.
In his opening address, Justice Ibrahim Auta, the Chief Judge of the Federal High Court, said the seminar was necessary to keep judges abreast with the operations of the NDIC, and the sustenance of the country’s economy.
``Acquiring such technical capacity will certainly enable us to make efficient, effective and informed decisions based on law for the interest of the nation’s economy,’’ Auta said.
The News Agency of Nigeria (NAN) reports that the court, which has exclusive jurisdiction over NDIC cases, handles the prosecution of directors and officers of banks suspected of banking malpractices.