The Federal Government is set to draw $1.3 billion (about N468 billion) from the National Sovereign Investment Fund NSIF) to fund five critical infrastructure projects nationwide. The Minister of Information and Culture, Alhaji Lai Mohammed, who gave this on Sunday when he appeared as guest on a Nigerian Television Authority programme – ‘Stepping Up’ – […]
The Nigeria Civil Aviation Authority (NCAA) recorded about N15.27 billion being Ticket Sales Charges (TSCs) on foreign and local commercial airlines plying the nation’s airspace from January to August this year. The charges comprised $16.98 million (about N6.12 billion) as TSC from international airlines and another N9.16 billion from local airlines This is even as the […]
The Federal Government has committed about $3.1 billion out of its foreign loans to various railways and airports construction and rehabilitation projects in the past eight years. While the present administration has borrowed $1.6 billion to fast-track the completion of the various projects nationwide so far, the previous administration took $1.4 billion loans for the […]
The Federal Executive Council on Wednesday approved N72.9 billion for the reconstruction of the road from Apapa to the toll gate on Lagos-Ibadan expressway project. The project, which is being executed by Dangote Group through a Public-Private Partnership model, finally got the FEC’s approval for funding after prolonged years of neglect which had worsened its […]
The Lagos State Governor, Mr Akinwumi Ambode, on Friday sought private sector investments in water transportation to complement his government’s current efforts to ease transport gridlock in major roads across the state and by so doing, improve the environment for businesses. Ambode, who described water transportation as critical to solving the traffic congestion in the […]
There are strong indications that the Federal Government may not have selected equity partners for the 95% equity of the about to the floated national carrier – Nigeria Air Media reports indicated that a document sourced from the Nigeria Civil Aviation Authority, NCAA, which debunked speculations in certain section of the social media that the […]
The Federal Executive Council (FEC) on Wednesday approved contracts totalling about N35.8 billion for roads, bridges and power at the end of its meeting presided over by President Muhammadu Buhari in Abuja. The Minister of Power, Works and Housing, Mr. Babatunde Fashola, gave this hint to State House correspondents at the end of the Council’s […]
President Muhammadu Buhari is billed to commission the completed first phase of the Abuja light rail project this Thursday 11 years after the project was initiated. The commissioning and flagging-off of the railway services by the President would mark the commencement of modern intra-city rail services in the Federal Capital Territory (FCT). A statement signed […]
The Federal Government has concluded plans to fully implement air safety recommendations released by the Accident Investigation Bureau (AIB). Giving this hint on Tuesday in Abuja when he received the report of the Safety Recommendation Committee headed by the Commissioner of AIB, Mr. Akin Olateru, Minister of State for Aviation, Hadi Sirika, recalled that the […]