The Federal Executive Council (FEC) yesterday approved N102.077 billion and $1.79 billion for roads projects across the country and rail project in the Federal Capital Territory (FCT). Minister of Power, Works and Housing Babatunde Fashola and Minister of FCT, Bello Mohammad, spoke with State House correspondents at the end of the meeting

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The Nigerian National Petroleum Corporation (NNPC) will generate about 4, 000 megawatts (Mw) of electricity over the next 10 years to boost power supply in the country. Its Corporation’s Chief Operating Officer (COO), Gas and Power, Engr. Saidu Mohammed, who spoke at the 2017 retreat of the Autonomous Business Unit (ABU), Gas and Power,

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Creditors have lost their battle to take over mobile giant Etisalat. The Nigerian Communications Commission (NCC) and the Central Bank of Nigeria (CBN) staved off the planned takeover by a consortium of banks the company is owing over N200 billion. NCC Executive Vice Chairman Prof. Umar Garba Danbatta broke the news yesterday at a conference

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Ogun State is Nigeria’s leading producer of solid minerals according to the data released by the National Bureau of Statistic (NBS) at the weekend. The NBS report titled: “State Disaggregated Mining and Quarrying Data (2016)” the NBS lists limestone, laterite and granite as the nation’s leading types of solid minerals while there are sizable quantities of

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The Naira is set to appreciate further this week as the Central Bank of Nigeria (CBN) plans to inject more Foreign Exchange (Forex) into the market to meet the requests of genuine customers. CBN spokesman Isaac Okorafor, gave the assurance yesterday. The News Agency of Nigeria (NAN) reports that the apex bank had so far kept to its promise

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The President of Fertiliser Producers and Suppliers Association of Nigeria (FEPSAN), Mr. Thomas Etuh, has said the Presidential Fertiliser Initiative will save the Federal Government about $200 million in foreign exchange (forex). He spoke yesterday while monitoring the fertiliser project in Kaduna State. He said it was a Public Private

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A rescue mission was launched yesterday for troubled mobile giant Etisalat. The Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) resolved to intervene in the over $1billion loan repayment issue between the telco and its local creditors. According to the NCC, the decision was taken yesterday afternoon after a meeting

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