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BPP To Sanction MDAs Over Violation Of Standard Bidding Guidelines …..Seeks Public Input To Draft Bidding Documents

    The Federal Government has threatened that effective from 2023,  Ministries, Departments and Agencies (MDAs) that failed to adopt the reviewed Standard Bidding documents would be sanctioned. Director General of the Bureau of Public Procurement (BPP), Dr. Mamman Ahmadu, who made this disclosure at a stakeholders’ Workshop on the Review of Draft Standard Bidding […]

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DMO Offers N100Bn “Ijarah Sukuk” Bonds To Fund Road Construction

The Debt Management Office (DMO) on Monday offered N100 billion “Ijarah Sukuk’’ bonds for subscription at N1,000 per unit on behalf of the Federal Government. It stated that the offer, which opened the same day it made the announcement, is of 10-year tenor due for maturity in December 2032 and the bonds were issued by […]

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Travellers Now More Sensitive To Airlines’ Safety Standards, Pricing – Survey

Phillips Consulting Nigeria, one of Nigeria’s leading economic research and investment consulting firms, in its ‘Nigeria’s Aviation Industry: Customer Satisfaction Survey Report 2022’  just published, has identified airlines’ safety standards, pricing affordability and timeliness of flights as among the key criteria air travellers in the country are considering before choosing airlines for travels. In the […]

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NPA Targets 2030 For Smart Ports Operations In Nigeria

The Managing Director of the Nigerian Ports Authority (NPA), Muhammed Bello-Koko, has hinted of  strategic efforts being made by the management of the authority to ensure smart ports in the country by 2030. The NPA boss unveiled this plan at an event in Lagos, said to achieve the target the NPA board and management would […]

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NASS, FRSC Commend Dangote Firm On CSR, Road Safety Interventions

The House of Representatives and Federal Road Safety Corps (FRSC) have commended Dangote Coal Mines Limited for supporting the government through its multi-million Naira social schemes and for adopting innovations that have remarkably reduced the rate of auto crashes in the country. Speaking at an interaction session involving the company’s host community’s leaders and youths […]

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NPA Boss Tasks Terminal Operators, Others On NAP-AD Compliance

The Managing Director of the Nigerian Ports Authority (NPA), Mohammed Bello-Koko, on Tuesday advised terminal operators, shipping companies and other stakeholders in the maritime sector to strictly comply with the government’s National Action Plan on Agro- Export Development (NAP-AD) to ensure the achievement of its objectives. Bello-Koko, who made the call at the commissioning of […]

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Trapped Funds: CBN To Disburse $120Mn To Foreign Airlines

Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has disclosed that the Federal Government will disburse $120 million to international airlines plying the Nigerian routes next Monday, October 31, to partly offset their trapped funds in the country. The governor disclosed that the decision was taken at a meeting between the leadership of […]

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LCCI Charts Roadmap To Fiscal Efficiency, Flaws FG On New Loans

The Lagos Chamber of Commerce and Industry (LCCI) has flawed Federal Government’s plans to finance the N10.78 trillion deficit estimates in the 2023 proposed budget through new commercial loans and drawdown on bilateral and multilateral loans. The Chamber, in a statement issued on Sunday and signed by its Director-General, Dr. Chinyere Almona, described the fiscal […]

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Nigeria’s Insurance Industry Assets Hit N2.3Trn In Q2 – NAICOM

The National Insurance Commission (NAICOM) has reported that Nigeria’s insurance industry’s total assets grew to about N2.3 trillion in the second quarter (Q2) of 2022, representing 11.9 percent quarter-on-quarter growth. The commission gave these figures in its latest bulletin on ‘Insurance Market Performance’ which also reflected that the total in Non-Life Insurance stood at N1.2 […]

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Fuel Subsidy Regime To End In 2023 – Buhari

……Proposes N20.51Trn Budget For Fiscal 2023   President Muhammadu Buhari said on Friday that oil subsidy would be discontinued in fiscal 2023 to ensure improved  efficiency in public finance and enable the administration to commit savings from the subsidy to other critical sectors with huge potentials to ameliorate the current socio-economic hardships of ordinary citizens […]