Author: Akintayo Adams

In Lagos State, the federal government has declared the opening of new hope cities and real estate initiatives, totaling roughly 20,000 cheap mass housing units. The declaration was made during an assessment of government land suitable for further building under the scheme and ongoing housing projects by Dr. Markus Ogunbiyi, the Permanent Secretary of the Federal Ministry of Housing and Urban Development. Remember that President Bola Tinubu recently unveiled the Renewed Hope Cities and Estates Scheme, which intends to give 100,000 Nigerians access to reasonably priced mass good homes across the country. Ogunbiyi was at Eric Moore with Mrs. Margaret…

The Federal Government has stated it had signed a Memorandum of Understanding (MoU) with an American firm John Deere where the corporation would supply Nigeria with roughly 2000 tractors yearly in the next five years. The effort according to the Minister of Agriculture and Food Security, Sen. Abubakar Kyari is oriented towards solving the problem of land preparation and mechanised farming across the country. The Minister remarked that the discrepancy between overall arable land and those available for cultivation is largely attributable to the shortage of tractors for farmers The “tractorization” issue is next, in his opinion. According to our…

On Friday, February 16, 2024, Oyo State Governor Engineer Seyi Makinde will officially open the 12.5 km Challenge-Odo Ona-Elewe-Elebu-Apata dualized road project. Dr. Peter Mbah, the governor of Enugu State, is scheduled to attend the function as a special honoree. The Oyo State Government awarded Kopek Construction Ltd the contract in 2020 for the repair of section 1 and dualization of section 2 of the Challenge-Odo Ona Elewe-Apata Road. The total contract amount was ₦5,646,384,211.92, which included compensation (₦775,403,670.19) and all required deductions. The project is the 2nd in a list of three projects to be commissioned by the Governor…

Security sources claim that since a soldier in Israel was killed by Hezbollah rocket fire, at least seven civilians have died as a result of Israeli operations in Lebanon. In Souaneh, a woman and two children perished, and subsequently, in Nabatieh, at least four family members perished. According to the group, assaults in southern Lebanon also claimed the lives of at least two Hezbollah fighters. The Israeli military said that it attacked Hezbollah infrastructure in retaliation for a lethal rocket assault on the country’s north. Since the beginning of the conflict between Israel and the Palestinian organization Hamas in the…

It has been revealed that the Dangote oil refinery has released tenders to sell two fuel cargoes for export, the first from the recently commissioned facility. Built on a peninsula on the outskirts of Lagos, the commercial center of Africa, the refinery has a nameplate capacity of 650,000 barrels per day, making it the largest on the continent, owned by Aliko Dangote, the richest man in Africa. Nigeria has long been dependent on pricey imports for almost all of the petroleum it uses, but the $20 billion refinery is expected to change that, potentially shifting the industry’s power and profit…

Senator Abubakar Kyari, Minister of Agriculture and Food Security, made it clear on Wednesday that the 42,000 metric tons of grains that were just approved for distribution to Nigerians in need would be given out without charge. According to the minister, the required equipment and safeguards had been installed to make sure that the food palliatives were only available to communities and individuals in need. As a temporary solution to the nation’s growing food scarcity, President Bola Tinubu ordered the immediate release of 42,000 metric tons of various foods from the strategic reserve and the Nigerian Rice Millers Association. At…

The second FGN bond auction of the year is intended to raise ₦2.5 trillion for the Federal Government. In a circular released on Wednesday, the Debt Management Office said that the offerings were ₦1.25 trillion with a 10-year tenor and ₦1.25 trillion with a maturity date of February 2031. The Federal Government’s domestic borrowing plan includes FGN savings bonds. About N7.06 trillion was raised by the Federal Government from the fixed income market last year. The Federal Government estimates that it would borrow ₦7.83 trillion this year. The National Assembly was asked to approve President Bola Tinubu’s plan to borrow…

The Federal Government of Nigeria said on Wednesday that the country’s power sector now owes approximately ₦3.3 trillion to gas and electricity producing businesses. It also showed that, in contrast to the ₦450 billion allocated for this purpose in this year’s budget, the electricity subsidy for 2024 would cost over ₦3 trillion, and it was already exceedingly difficult to maintain power subsidies. It is imperative that Nigeria transition to a tariff model that is cost-effective. He disclosed that the nation owes $1.3 billion to gas businesses and ₦1.3 trillion to companies that generate power. Despite calls from some quarters for…

On Thursday, February 15, 2024, President Bola Tinubu will leave Abuja for Addis Ababa, Ethiopia, to take part in the 37th Ordinary Session of the African Union’s (AU) Assembly of Heads of State and Government. “Educate an African fit for the 21st Century: Building resilient education systems for increased access to inclusive, lifelong, quality, and relevant learning in Africa” is the theme of this year’s summit. Ajuri Ngelale, the presidential spokesman, said that the president will attend high-level meetings with other African leaders to discuss institutional reforms of the African Union, peace and security, particular thematic issues like climate change,…

To move from the current presidential style of administration to a parliamentary one, about 60 members of the Federal House of Representatives are presently attempting to modify the 1999 Constitution. Leading the charge for a return to the parliamentary system was Wale Raji, an All Progressives Congress legislator representing Lagos State. Among other reasons, the Reps cited the need to lower government expenses and have vigorous policy discussions. The group, known as the Parliamentary Group, introduced a constitution alteration bill on the floor of the House of Representatives on Wednesday, setting in motion what could be a transition to a…