Amid Nigeria’s fiscal crisis, the Federal Government is compiling the list of assets that will be either sold or ‘concessioned’ to fund the 2023 budget deficit of N10.7tn. According to sources at the Ministry of Finance, Budget and National Planning, the government was considering selling or concessioning the Tafawa Balewa Square in Lagos as well as all the National Integrated Power Projects in Olorunsogo, Calabar II, Benin (located at Ihorbor), Omotosho II and Geregu II plants. The government is also planning to sell or concession all the hydro power plants across the country, including Oyan, Lower Usuma, Katsina-Ala and Giri…
Author: Elvis Eromosele
The Fiscal Responsibility Commission (FRC) said between January-July, 2022, Nigeria saved a total Operating Surplus and Internally Generated Revenue of over N729 billion through its Fiscal Responsibility Act. The Chairman of the commission, Victor Muruako, disclosed this at the October monthly lunchtime seminar organised by the Bureau of Public Service Reforms (BPSR) in Abuja, with the ‘Strengthening Fiscal Transparency, Accountability & Prudence through the Fiscal Responsibility Act, 2007.’ Muruako, the Chairman, also highlighted some results achieved by the commission from monitoring and enforcing transparency, accountability and prudence, the core mandates of establishing it. Some of them according to him includes,…
Fintech will determine which countries will become powerhouse economies of the next decade, affirms the CEO of one of the world’s largest independent financial advisory, asset management and fintech organisations, Nigel Green. The observation from Green, deVere Group’s chief executive and founder follows his appointment as an adviser to Thailand’s National Innovation Agency (NIA), a Thai government agency. The NIA has a special focus on fostering strategic innovation, boosting innovation investment, and nurturing the innovation ecosystem to enhance national productivity, economic restructuring, social development and global competitiveness. Green, says: “There’s an intensifying war happening right now that is going to…
LEAP Africa, in partnership with Dow and other technical partners, recently concluded the third edition of the Pan African youth-led social impact campaign – Youth Day of Service (YDoS) 2022- across various African communities. The week-long campaign with the theme – Youthful and Useful – kicked off with a pre-event press conference in Lagos and was activated between Friday, 12th – Saturday, 18th August 2022. During its activation, youth across the continent came out in large numbers to accentuate the strength and possibilities of their agency in actualising a sustainable future through volunteerism and community service. With much confidence and…
Prof. Umar Garba Danbatta, Executive Vice Chairman of the Nigerian Communications Commission(NCC) says over 30 million Nigerians don’t have access to the internet. Danbatta disclosed this on Thursday in Abuja at the Broadband Technical Awareness Forum for Governors organised by NCC, where he also explained that over 30 million Nigerians are not connected to the internet due to infrastructural deficit. He explained that nations with leading broadband infrastructure are those with the highest Gross Domestic Product(GDP) per capita He said:” When you take a look at the Global Broadband Infrastructure Ecosystem, you will find that the leading broadband infrastructure nations…
The United Kingdom Prime Minister, Liz Truss, on Thursday, October 22, 2022, stepped down from her role. Her resignation was coming barely two months after coming into office. Truss, who spend 45 days in office, said she would step down after a week-long emergency contest to find her successor She announced her decision to step down on Thursday outside Downing Street. “I entered office with a vision for a low-tax, high-growth economy that would take advantage of the freedoms of Brexit,” Truss said. She added, “I recognise that, given the situation, I cannot deliver the mandate on which I was elected…
President Muhammadu Buhari has signed into law the Nigeria Startup Bill to open a new progressive chapter for Nigeria’s tech and innovation community. The new law mandates government to set up a N10 billion Investment Fund for young innovators and also make provision for incentives and tax holidays to encourage local innovators. It is a new deal that will further strengthen Nigeria’s startup community, touted as Africa’s largest ecosystem, with legal and funding instruments. According to reports, African startups raised over $4 billion in 2021 with Nigeria accounting for over 35 per cent of that amount. Nigeria is home to…
No fewer than 300,000 uncollected Permanent Voters Cards (PVCs) are lying in the local government of Independent National Electoral Commission (INEC) offices spread across the twenty-five local government areas in Delta state. INEC Delta State Electoral Commissioner, Rev Monday Udoh Tom who made the revelation during INEC PVC Collection/ Political Campaigns sensitization to the Delta State House of Assembly in Asaba, Delta State disclosed that the Commission carried over 244,715 uncollected PVCs from the 2019 general elections, while it has so far received about 69,946 PVCs for those who registered between June –December 2021 and 17,000 transfer PVCs, bringing the…
The Federal Government has engaged a private firm in Build, Operate and Transfer (BOT) scheme in order to keep an appropriate record of helicopter movements in and out of Nigeria. Mr. Stanley Chike, the Managing Director, Naebi Dynamic Services Limited informed journalists in Lagos that the firm was investing in multi-billionaire naira state-of-the-art equipment to monitor activities in the aviation and the oil sectors across the country. He explained that the firm is investing in a multinational control room centre, radar equipment and navigational facilities to monitor the activities in the two sectors and beyond. According to him, with this…
The Christ Chapel International Churches has announced a grant of N1 million to 10 entrepreneurs to support their businesses. This is part of the highlights of its 40th anniversary and the commencement of the 2022 annual camp meeting. According to the Chairman of the anniversary committee, Pastor Niyi Odetayo, the grant is mainly for members of the church who have established businesses and need small support to expand their operations. He added that the church is also providing solar-powered electricity for the Bode Thomas Police Station in Surulere, Lagos in its efforts to combat crime. Odetayo said that the solar-powered…