The Federal Government has announced that it attracted over $2bn in investments in the renewable energy sector over the past decade. It announced this through the Rural Electrification Agency, adding that in advancing these achievements, it established partnerships with the World Bank, African Development Bank, Global Alliance for People and Planet, Rocky Mountain Institute, and Japan International Cooperation Agency. Others include the Sustainable Energy for ALL, Agence Française de Développement, the United Kingdom Nigeria Infrastructure Advisory Facility, European Union, United Nations Industrial Development Organisation, Global Environment Facility, United States Agency for International Development. among others. Mutari Ibrahim, Director, Promotion and…
Author: Elvis Eromosele
On the evening of Sunday, October 1, 2023, the Ikoyi Club 1938 brought its week-long 85th-anniversary celebration to a grand conclusion with an award ceremony and gala night held on the Main Lawn of Ikoyi Club 1938. The star-studded event marked the culmination of a week of festivities that commenced on September 25, 2023, with a press conference. The Ikoyi Club 1938’s Awards Ceremony and Gala Night was a truly colourful and unforgettable experience, graced by the crème de la crème of Nigerian society. The evening was impeccably hosted by the dynamic duo of Akindele Semowo and Bolaji Martins, who…
The Socio-Economic Rights and Accountability Project (SERAP) has asked the Federal High Court in Lagos to stop the House of Representatives from procuring and taking delivery of 360 Sports Utility Vehicles (SUVs) worth N57.6 billion for its members, pending the hearing and determination of the applications for injunction filed by the organisation.” This is coming 10 weeks after the advocacy group filed a lawsuit against the Senate President, Godswill Akpabio and Speaker of House of Representatives, Tajudeen Abbas over “the unlawful plan to spend N40 billion on 465 exotic and bulletproof cars for members and principal officials, and N70 billion as…
Unilever Nigeria Plc released its unaudited interim report for the nine-month period ended 30th September 2023. The Company recorded a turnover of N81.6 billion in the period under review which represents 26 per cent topline growth compared to N64.8 billion Turnover recorded in the corresponding period in 2022. The company recorded a gross profit of N19.4 billion for the period ended 30th September 2023 which is a 13 per cent increase versus N17.2 billion reported for the same period last year. The result showed a profit for the period from continuing operations of N1.7 billion for the period ended 30th…
Fifteen Nigerian states have yet to implement the N30,000 minimum wage for their workers since it was signed into law in 2019, BudgiT has revealed. This is as organised labour unions are set to push for a further increase in minimum wage following worsening living conditions in recent times. According to BudgiT, even though 15 states are yet to implement the minimum wage of N30,000, the 36 states of the federation grew their cumulative personnel cost by 13.44 per cent to N1.75tn in 2022 from N1.54tn in 2021. Also, these states grew their overhead bills by 23.42 per cent to…
The Federal Government through the Rural Electrification Agency in partnership with ENGIE Energy Access Nigeria, and a subsidiary of CrossBoundary Access, CrossBoundary Energy Access Assets Nigeria Limited, is set to bring clean and stable electricity to 15 rural communities spread across Nigeria. According to a press statement by REA recently, the public-private partnership agreement, which is a portfolio of mini-grids, will be constructed to connect hundreds of households and micro-businesses in underserved and unserved rural communities. This initiative, the Agency said reflects the commitment of President Bola Tinubu’s administration to enhance power supply and increase access to reliable electricity for…
The Infrastructure Concession Regulatory Commission says the federal government will generate over N28 billion from the 20-year concession of the Central Workshop Ijora. In a statement on Thursday, the Head of Media and Publicity, Manji Yarling, said the workshop was used for the maintenance of vehicles, sewage treatment plants, and water supply equipment during the colonial era. According to her, the concession will adopt a Rehabilitate-Operate-Maintain-Transfer PPP model to upgrade the Central Workshop till its functions are realised. She said the project, an unsolicited (Privately Initiated Infrastructure Proposals) by Beta Transport Nigeria Limited is domiciled under the Federal Ministry of…
The European Union (EU) is to disburse 150 billion Euros in four years by 2027 through its Global Gateway Initiative to Nigeria and other African countries to enhance infrastructure in over eight sectors. The EU Commissioner for International Partnerships, Jutta Urpilainen, made this known during the launch of the Global Gateway initiative on Thursday in Abuja. According to Urpilainen, the Global Gateway initiative is crafted to enhance connectivity, promote sustainable development, and strengthen economic ties between the EU and its partner countries, including Nigeria. She said that through the initiative, the EU would support Nigeria to achieve enhanced infrastructure connectivity,…
The Edo State Government has said it has renovated over 336 primary and junior secondary schools in the State, built over 200 blocks of classrooms, and renovated 202 others in the last ten months, while several others have been pencilled down for remodelling. The Edo State Commissioner for Communication and Orientation, Chris Nehikhare, who disclosed this while speaking to journalists in Benin City, reiterated the government’s commitment to remodelling all primary and junior secondary schools across the three senatorial districts of the State, with priority on the welfare and wellbeing of the pupils and teachers under its State Universal Basic…
The Poultry Association of Nigeria’s (PAN) FCT Chapter has reported a loss of N6 billion over CBN’s cashless policy, fuel subsidy removal, and various other factors. Hon. Musa Hakeem, the Secretary PAN FCT, made this announcement in Abuja recently as part of the World Egg Day commemoration. He pointed out that additional factors leading to the loss encompassed foreign exchange fluctuations and the restrictions on maize and soybean imports. Hakeem listed other challenges bedevilling the industry as a high rate of diseases, lack of access to credit facilities, high cost of feed, and poor-quality chicks. Moreover, he emphasized that the…