Business

The World Bank Group will be raising $127 billion for mini-grip power funding by 2030.The bank said it will be leveraging development partner funding and government investment to “crowd in” private-sector finance for the project. It explained that solar mini-grids could provide high-quality uninterrupted electricity to nearly half a billion …

The Federal Ministry of Works and Housing has charged senior directors to ensure strict compliance with asset declaration processes, adding that refusal is an offence liable for sanctions. The Permanent Secretary of the Ministry, Bashir Alkali, gave the warning during a sensitisation workshop organised for directors on strict compliance with …

Beneficiaries of various Central Bank of Nigeria (CBN) intervention schemes have re-paid a total of N3.7 trillion out of the N9. 3 trillion disbursed in the last four years. The Director of the Development Finance Department of the bank, Mr Yusuf Yila, disclosed this at a press briefing in Abuja, …

President Muhammadu Buhari on Wednesday in Abuja charged the National Council on Climate Change to formulate appropriate policies toward achieving green growth and sustainable economic development for Nigeria. Inaugurating the Council before the commencement of the Federal Executive Council meeting, the President said it marked the commencement of the implementation …

President Muhammadu Buhari has written separate letters to the Senate, seeking for the approval for the issuance of promissory notes totalling over N402billion. The first letter read by the President of the Senate, Senator Ahmad Lawan was N375billion meant for settling outstanding claims owed various exporters . According to the …

The Federal Government has hinted of a pay raise for workers in the public service to cushion the effect of the global economic downturn. The government admitted that inflation has eroded the purchasing power of workers who are on N30, 000 minimum monthly wage. Labour and Employment Minister Senator Chris …

The Vice President, Prof. Yemi Osinbajo has stressed that the use of gas as a transition fuel would not only help in stemming deforestation, but also advance Nigeria’s broader development goals, especially as Nigeria has one of the largest gas reserves in the world. According to him, other developing countries …

Data collated from the Central Bank of Nigeria (CBN) has shown that banks borrowing from CBN in August 2022 dropped by 47 per cent Month-on-Month (MoM) to N2.4 trillion compared with N4.5 trillion in July 2022.  This is as analysts have predicted that with the recent increase in Monetary Policy …

The Group Chief Executive Officer of the Nigeria National Petroleum Company, Mele Kyari, on Tuesday, said 122 persons have been arrested for oil theft between April and August 2022. He also revealed that government operatives have discovered at least 295 illegal connections tethered to a 200km stretch of pipeline. This, …

Against the backdrop of recent figures of missing/stolen crude oil put at 200,000 barrels daily by the NNPC Limited, the Chief of Naval Staff (CNS), Vice Admiral Awwal Gambo late on Monday night disclosed that it is practically impossible for such quantity of crude to be stolen daily, given the …