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Tag Archives: Infrastructure

Fire destroys INEC office in Imo

property

The Independent National Electoral Commission’s office (INEC) in Isiala Mbano, Imo North was on Monday gutted by fire, destroying materials and some infrastructure. The cause of the fire was yet to be ascertained as at press time. When newsmen were contacted, the INEC Public Relations Officer, Emmanuella Ben-Opara, confirmed the incident and described it as very unfortunate. The PRO explained ...

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Ekiti earmarks N40bn on infrastructure, industrial development

Ekiti

The Ekiti Government said it had earmarked N40 billion to address underdevelopment in industry and infrastructure of the state, under the current fiscal year. The State Commissioner for Finance and Economic Development, Mr. Dapo Kolawole, made this known in Ado Ekiti on Friday at a public forum where he gave detailed breakdown of the N129.9bn state budget. Kolawole said the ...

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PFAs increase investments in real estate to N225bn

real estate

The Pension Fund Administrators have raised the amount invested in real estate to N225.04bn, latest figures obtained from the National Pension Commission have shown. This amount represents 2.7 per cent of the total assets of the PFAs, which stood at N8.34tn as of the end of September 2018. According to the commission, the amount invested in the real estate fell ...

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NIOB pegs construction industry’s poor performance on corruption

NIOB

The President, Nigerian Institute of Building (NIOB), Mr. Kenneth Nduka, says the poor contribution of the construction industry to the country’s Gross Domestic Product should be blamed on corruption. Nduka said the industry’s performance in 2018 was poor when compared with the preceding years, despite its potential to create employment. “There is corruption in virtually every aspect of construction industry ...

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Oil magnate implores FG to invest over $3tr on infrastructure

Oil magnate

An oil magnate, Dr. Emeka Okwuosa, says the Federal Government needs to invest over three trillion dollars on infrastructure development in the next 20 years for positive impacts in various sectors of the nation’s economy. Okwuosa, who is the Chairman, Oilserve Group, spoke in a paper entitled: “Infrastructural Development: A Key to Economic Growth and Development in Nigeria, which he ...

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 Buhari will not construct new roads, rail projects – APC manifesto

rail projects

Presidential candidate of the All Progressives Congress, APC, in the 2019 general elections, Muhammadu Buhari, will not be initiating fresh road and rail projects if elected for a second term. This was revealed in the APC’s manifesto titled: ‘Next Level’. According to the document, President Buhari will rather focus on completing the ongoing works on the nation’s road and rail ...

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Atiku bemoans south-east state of infrastructure

Atiku

The PDP presidential aspirant, Atiku Abubakar said the issue of restructuring is already an achievable plan. He said he was worried about the state of development in the southeast The Presidential candidate of the People’s Democratic Party (PDP) in the 2019 general elections, Alhaji Atiku Abubakar says his commitment is to fix the ailing Nigerian economy. Abubakar said this on ...

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AfDB signs $40m investment for Nigeria, others

AfDB

The Board of Directors of the African Development Bank (AfDB) has approved an equity investment of $40m in African economies. The $40m would be ploughed in the African Infrastructure Investment Fund, with a focus on acquiring positions of significant influence in roads, airports, rail links, bridges, ports, logistics, power generation, utility distribution, as well as telecommunications assets, the AfDB said ...

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Fashola defends Buhari’s administration, says investment in infrastructure will yield

Fashola

The Minister of Power, Works and Housing, Mr. Babatunde Fashola, yesterday said that the investments made so far by President Muhammadu Buhari, in Nigeria’s road, housing and power sectors would soon come to full fruition, thus urging Nigerians to give the administration some more time for that to happen. Speaking to reporters at a press briefing in Abuja, Fashola who ...

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My administration has spent N9bn on road construction so far – Akeredolu

Rotimi Akeredolu

Governor Oluwarotimi Akeredolu of Ondo State on Tuesday disclosed that his administration had so far spent N9 billion to construct, maintain and rehabilitate roads in the state since its inception. The News Agency of Nigeria reports that Akeredolu assumed office on February 24, 2017 as the Ondo State Governor. Akeredolu disclosed this in Akure during presentation of cheques to owners ...

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