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Tag Archives: Infrastructure

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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Power sector loses N460.3bn as generation plummets

power sector

The estimated monetary loss in Nigeria’s power sector has risen to N460.3bn in 2018 alone. The data obtained from the Federal Ministry of Power, Works and Housing in Abuja on Friday showed that between January 1 and November 8, 2018, the sector lost N460.253bn. The FMPWH explained that the huge financial loss was due to insufficient gas supply, distribution and ...

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NCC warns against vandalisation of telecommunication infrastructure

NCC

Nigerian Communications Commission (NCC) has warned against vandalism of telecommunication infrastructure, stressing that the act is compromising Federal Government’s efforts toward achieving 30 per cent broadband penetration in 2018. Miss Helen Obi, the commission’s Head of Zonal Operations in Niger, said this at a one-day sensitisation programme on “Protection of Telecommunication Infrastructure” on Thursday. According to her, telecom infrastructure serve ...

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Nigeria’s debt on infrastructure is a good investment – Fashola

Fashola

Nigeria’s Minister of Power, Works, and Housing, Babatunde Fashola, says debt for infrastructure in Nigeria is good debt, as far as he is concerned. Speaking at the Africa Investment Forum in Sandton South Africa on Wednesday, the minister said the Nigerian government should not be judged like a private company when it comes to borrowing. His words: “The only thing ...

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Fayose, Fayemi trades words over poor infrastructural development

Fayose

There is an intense argument between the immediate past governor of Ekiti State, Ayo Fayose, and the current governor, Kayode Fayemi, over the state of infrastructural projects across the state. Gov. Kayode Fayemi has decried the poor state of the Ikogosi Warm Spring Resorts, owing to deliberate abandonment of the facility by the immediate past administration. Speaking with journalists after ...

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Federal government moves to release funds to improve schools’ infrastructure

Private sector

Some tertiary institutions in Nigeria might soon get better infrastructure as the Federal Government announced its readiness to release intervention funds for 219 tertiary institutions in the country. The funds are meant to be released through the Tertiary Education Trust Fund for critical infrastructure. While listing the new tertiary institutions that would receive the funds, the TETFund Executive Secretary, Dr. ...

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Our massive investments in Infrastructure are paying off – Lai Mohammed

Lai Mohammed

The Minister of Information and Culture, Alhaji Lai Mohammed, says the massive investments in infrastructure by President Muhammadu Buhari’s administration are paying off in economy stimulation and jobs creation. The Minister said this on Thursday in Ibadan at a Special Town Hall Meeting on Infrastructure organised by his ministry and the National Orientation Agency. Our correspondent reports that three other ...

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Nigeria needs $1 trillion to modernize energy infrastructure

energy infrastructure

Nigeria will need as much as $1 trillion modernize its energy infrastructure, Vice President Yemi Osinbajo said Thursday in Abuja. While speaking at the National Energy and Climate Change summit held at the Presidential Villa, Osinbajo said “huge investment of about one trillion US dollars required to modernize our energy infrastructure in twenty-nine years between 2014 and 2043.” Osinbajo, who ...

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