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Tag Archives: Nigeria

Chief justice of Nigeria discusses recovery strategy for AMCON N5.4 trillion debts

Nigeria

The Chief Justice of Nigeria, Walter Onnoghen, and the President of the Court of Appeal, Zainab Bulkachuwa, said the Asset Management Corporation of Nigeria (AMCON) can leverage the alternative dispute resolution (ADR) infrastructure in courts in its debt recovery mandate. The two justices’ spoke on Monday in Abuja at the interactive session between Justices of Supreme Court; Court of Appeal, ...

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FG exposes 114 companies involved in property fraud

property fraud

Property fraud – The Federal Government has uncovered 114 companies neck deep in shady land deals, even as it raked in N1.173 billion in tax revenues from January till date. The Executive Chairman, Federal Inland Revenue Services (FIRS), Tunde Fowler, made the disclosures in Abuja at the African Union high-level panel on illicit financial flows from Africa. According to him, ...

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Operators urge FG to do more for construction industry in the spirit of independence

construction industry

Some operators in Nigeria’s building sector say the benefits of the country’s independence have not been felt in the housing and construction industry. They urged the leadership to prioritize the industry for Nigeria’s economic revival. They insisted that the federal and state governments should stimulate the economy through the housing and construction industry, which has been “left unattended for a ...

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Power Supply drags at 3,761MW, Sector Loses N381bn

power supply

Nigeria’s power sector has struggled to sustain an average daily power supply of 3,761 megawatts (MW) within the first nine months of 2018, according to a performance trend data obtained from the office of the Vice President, Prof. Yemi Osinbajo. The power sector also lost N381 billion during the period under review as a result of high frequency resulting from ...

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FEC approves $64.2m for Escravos power supply project

FEC

The Federal Executive Council (FEC) on Wednesday approved 64.2 million dollars for power supply project to communities within Escravos area of Delta State. Ibe Kachikwu, the Minister of State for Petroleum Resources, disclosed this while briefing State House correspondents after FEC meeting presided over by the Vice President, Yemi Osinbajo, in the Presidential Villa. Escravos, which hosts two major transnational ...

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What will you do if your Landlord serves you a notice to quit today?

notice to quit

Landlords in Nigeria believe they are the lord and saviour of their tenants so they do whatever they want and whenever they want it. We have heard the case of a Landlord that removed his tenant’s roof, threw out his properties before he came back from work. This question was birthed as a result of the different crazy scenarios we ...

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Nigeria records $45.7bn investments in six months

Nigeria

Nigeria recorded a total investment commitment of $45.7bn in various sectors of the economy within the first six months of this year. Figures obtained from the Nigerian Investment Promotion Commission showed that the $45.74bn investment commitments were made for 42 projects in nine states and the Federal Capital Territory. The sectoral analysis of the commitments indicates that investors were willing ...

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Babalakin says Foreign firms lack capital to develop Nigeria’s infrastructure

Babalakin

The Pro-Chancellor of the University of Lagos (UNILAG) Dr. Wale Babalakin (SAN) has said foreign firms lack the “emotional capital” required to develop Nigeria’s infrastructure. Dr. Babalakin said this at the 60th Anniversary/8th Fellowship Conferment Lecture and Ceremony of the Nigerian Society of Engineers (NSE) in Abuja. Delivering a lecture titled “Constraints of Implementing Infrastructure Projects through Public Private Partnership ...

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Kogi plans to complete road projects in January 2019

road projects

The Kogi State government on Wednesday said about 40 percent of all the ongoing road projects embarked upon across the three senatorial districts of the state would be completed and ready for commissioning by January 2019. Chief of Staff to the Kogi State Governor, Chief Edward Onoja gave hint in Lokoja while speaking to newsmen on the sidelines of the ...

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FG announces it has built 26,002 houses across the country

houses

The federal government has said it spent N197bn on the construction of 26,002 houses across the country. The managing director of the federal mortgage bank of Nigeria, Ahmed Dangiwa, who made the disclosure in Abuja on Tuesday, August 14, said part of the funds was also used for the renovation of 13,953 houses nationwide. Dangiwa said the federal government was ...

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