Author: straightnewsng.com

The Nigerian Electricity Regulatory Commission, NERC, Tuesday, announced the suspension of the Board of Directors of Ibadan Electricity Distribution Company, IBEDC, over default in the recovery of N6 billion loan. Recall that the IBEDC got the N6 billion granted to Integrated Energy Distribution and Marketing Group, IEDMG, Ltd by the Central Bank of Nigeria, CBN, under the Nigeria Electricity Market Stabilisation Funds, NEMSF, only to be wrongly diverted for other purposes. Irked by the development, NERC had earlier fined IBEDC N50 million for non-compliance to directive to fully recover the outstanding sum of N5.7 billion, being the balance of the…

Nigeria’s rail line would cover the Western corridor of the country traversing nine states and the Federal Capital Territory, Abuja, is expected to be completed in 36 months. The loan agreement reached between Nigeria and China for the project that spans a total of 1,402 kilometres would be completed as soon. Mr. Chibuike Amaechi, Minister of Transportation, said, “This rail line, a total of 1,402 km which covers the Western corridor of Nigeria traverses nine states of our federation and the Federal Capital Territory, Abuja, and is expected to be completed within three years if the expected loan agreement with…

The Federal Government has released N1.6 trillion (N1,580,270,755,084.44) capital cost to Ministries, Departments and Agencies for the 2017 federal budget. Kemi Adeosun, Minister of Finance, who stated this said N1.6 trillion total capital released for 2017 is higher than the N1.2 trillion (N1,219,471,747,443.00) total capital released for 2016. In the 2017 capital released, Power, Works and Housing received the highest allocation of N523,011,701,723.25 or 33.10 per cent of the total capital released. The sector also received the highest released in the 2016 capital budget, which was a total of N307,411,749,682.00 (25.21 percent) of the 2016 capital budget. Defence and Security…

The Presidency has approved a new special funding to curb counter-terrorism fight in the country. The development which is part of a national action plan on preventing and countering violent extremism in the country will see relevant Ministries, Department and Agencies, MDAs, playing key roles in the fight against terrorism. The Presidency said all relevant MDAs were required to include in their subsequent annual budgets, proposals for necessary allocations in preventing and countering violent extremism. Major-General Babagana Monguno (retd), the National Security Adviser, NSA, stated the new measures Monday, at a three-day special training workshop for MDAs and Civil Society…

President Muhammadu Buhari has accused National Assembly of padding the original document he presented to a joint session of the Senate and House of Representatives in November 2017. Buhari said, “the National Assembly made cuts amounting to N347 billion in the allocations to 4,700 projects submitted to them for consideration and introduced 6,403 projects of their own amounting to N578 billion.” “Many of the projects cut are critical and may be difficult, if not impossible, to implement with the reduced allocation. Some of the new projects inserted by the national assembly have not been properly conceptualized, designed and costed and…

Eight months after presenting 2018 budget to National Assembly, President Muhammadu Buhari, Wednesday, signed the 2018 Appropriation Bill into law. The President presented the budget to the National Assembly on November 7, 2017. On his Twitter handle, the president who signed the budget in his office at the Presidential Villa, Abuja, said, “a few minutes past noon today, I signed the 2018 Appropriation Bill into Law.” The Senate and the House of Representatives, had on Wednesday, May 16, passed the 2018 appropriation bill into law. The lawmakers passed N9.1 trillion, an increase of N508 billion from the N8.6 trillion originally…

Reactions have continued to trail the passage of ‘Bill For A Law To Create And Regulate Job Opportunities For Indigenes of Akwa Ibom State’ into law by the state House of Assemly. The bill which was sponsored by Victor Udofia representing Ikono State Constitutency and co-sponsored by seven other House members was passed into law by majority of the members in the House two weeks ago. Though the bill is yet to be assented to by the state governor, Mr Udom Emmanuel, it seeks to, among others, ensure that Akwa Ibom indigenes with requisite qualifications and required skills are not…

Senegal has become the first African country to lift the day with astounding victory by pipping Poland 2-1 in the on-going FIFA World Cup in Russia. In a tension-soaked match, Lions of Teranga are in a first place tie with Japan in Group H while Colombia and Poland sit at the bottom. On the same page, Japan shocked Colombia, Senegal pulled off a similar surprise against the No. 8 FIFA-ranked Poland, coming away with a 2-1 victory that was also controversial. Group H isn’t going how most expected at the 2018 FIFA World Cup in Russia. Senegal led 2-0 on the…

Nigeria loses about $14 billion (₦5.04 trillion) annually to farmers-herders conflicts, the Federal Government has revealed. In addition, hundreds of people have been killed in 2018 alone in violence involving nomadic herdsmen in states like Benue, Plateau, and Kaduna. Consequently, the Federal Government has outlined a plan to permanently solve the farmers-herders conflicts in Nigeria that has claimed the lives of thousands over the years. The presentation of the plan was made by the technical adviser to the president on National Economic Council, NEC, Andrew Kwasari, Tuesday in Abuja. The presentation event was attended by several public officials including the…

The Chief Justice of Nigeria, CJN, Justice Walter Onnoghen, Tuesday, charged judges and other judicial officers in the country to take decisions as heavens will not fall. Swearing in Justice Abdu Adamu Kafarati as the substantive Chief Judge of the Federal High Court, he said that the judiciary would stand behind any judicial officer hounded for taking bold and courageous decisions that have constitutional backing. According to him, the judiciary would remain an arbiter between the Executive and the Legislative arms of government. He said, “Don’t run away from your responsibility, remain courageous and firm. Since God has made it…