The Federation Account Allocation Committee (FAAC) has disbursed a total of ₦1.088 trillion in revenue for November to the Federal Government, States, and Local Government Councils (LGCs), according to the communique released following its recent meeting. The breakdown of the distributable revenue includes a statutory revenue of ₦376.306 billion, Value Added Tax (VAT) revenue of…
The Kano State Government has agreed to compensate the Incorporated Trustees of Masallacin Eid Shop Owners and Traders Association with a sum of N3 billion for the controversial and unlawful demolition of their properties. This resolution stems from a terms-of-settlement application dated December 12, filed before Justice Inyang Ekwo of the Federal High Court (FHC),…
The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, revealed that the company has generated N4.5 trillion in revenue for the federation as of October 2023. Kyari shared this update during an interactive session with the Senate Committee on Finance in Abuja. He expressed optimism about the future, citing…
In a significant development, former Nigerian President Olusegun Obasanjo has declared his preparedness to provide testimony on behalf of Nigeria in the ongoing $2.3 billion disputed Mambilla power contract case involving former Minister of Power and Steel, Olu Agunloye. The dispute has landed at the International Chamber of Commerce (ICC) in Paris, where Sunrise Power…
The Director-General of the Bureau of Public Enterprises (BPE), Alex Okoh, has affirmed the bureau’s dedication to maximizing the value of Federal Government assets through private sector investments. Speaking at a media event in Abuja, Okoh emphasized the importance of reducing reliance on borrowing and promoting private sector participation to fund the government’s fiscal plans….
The Federal Government of Nigeria has introduced a new foreign policy framework dubbed the “4D foreign policy,” aimed at leveraging the nation’s diplomatic relationships for strategic advantages. Yusuf Tuggar, the Minister of Foreign Affairs, launched the initiative in Abuja on Monday, emphasizing its focus on Democracy, Development, Demography, and Diaspora. In his address during the…
Law students and graduates of Baze University, both at the graduate and undergraduate levels, are expressing deep anxiety over the recent actions taken against the institution by the Council of Legal Education. The ban, which prevents the admission of Baze University law graduates to the Nigeria Law School for a period of five years, has…
The Transmission Company of Nigeria (TCN), Benin region, has launched a series of projects aimed at expanding and upgrading the electricity grid in the sub-region. Mr. Isaac Okpe, the General Manager of TCN, Benin region, shared details of the initiatives during a press briefing in Benin after a comprehensive tour of the region, sub-region, and…
The Central Bank of Nigeria (CBN) has raised an alarm concerning the surge in the circulation of counterfeit banknotes, particularly higher denominations, within major cities across the country. The disclosure, conveyed in a press statement by CBN’s Acting Director for Corporate Communications, Mrs. Hakama Sidi Ali, on December 8, 2023, highlights the potential risks associated…
The Association of Freight Forwarding Practitioners of Nigeria (AFFPON) has disclosed that the weekly loss incurred due to Nigeria’s border closure by the Federal Government amounts to at least N13 billion. Miftahu Ya’u, the president of AFFPON, shared this information during a joint stakeholders’ forum for freight forwarders and importers. The association urged the government…