Tinubu signs N2.17trn 2023 supplementary budget into law
President Bola Tinubu has signed the 2023 supplementary budget of N2.17 trillion into law to address urgent security and economic needs of the nation. He signed the Supplementary Appropriation Act, 2023 at the State House in the presence of the Secretary to the Government of the Federation, George Akume, Senate President, Godswill Akpabio, Speaker Tajudeen Abbas, […]
FG loses N793.3trn annually to dependence on foreign ships
The Federal Government (FG) is losing about N793.3 trillion ($1 trillion) to dependence on foreign ship owners for the shipment of its import and export goods. A member of the former Presidential Committee of Fleet Expansion and Chief Executive Officer of Starz Marine and Engineering Ltd, Greg Ogbeifun, disclosed this at a one-day event with the […]
Oil sector attracted zero foreign investment in Q2 – NBS
The oil and gas sector in the country failed to attract any foreign investment for the first time in Q2 2021, amid the global push for cleaner energy, according to the National Bureau of Statistics. The NBS in its ‘Nigeria Capital Importation Q2’ report stated that the Federal Government failed to convince IOCs to invest […]
Poor power supply: FG to probe extension of DisCos operational licence
The Federal Government has ordered a high-powered investigation into the circumstances regarding the extension of the operational licence of distribution companies whose performances are considered abysmally poor. Minister of Power, Adebayo Adelabu, who announced the probe, yesterday, wondered why their operational licences should be extended for five years in the event of poor performance. He asked […]