FERMA Gets N8.1bn From FG To Repair Ten Roads       The Federal Executive Council on Wednesday approved a total of N8.1bn for the Federal Roads Maintenance Agency to carry out emergency repairs of 10 roads across the country. The Minister of Works and Housing, Babatunde Fashola, disclosed...

CBN Debits 23 Banks N349.72bn       The Central Bank of Nigeria has debited 23 financial institutions N349.72bn in Cash Reserve Requirement. These debits occurred towards the end of last week, as the apex bank intensified its effort in mopping liquidity amid rising inflation. The recent action by the...

Reps Begin Probe Of N19bn 2011 Rail Contract To Ghost Firm         The House of Representatives has resolved to investigate a contract awarded in 2011 for the rehabilitation of the Port Harcourt-Makurdi section of the Eastern Rail Line valued at N19.2bn. The House is especially probing into...

CBN Disbursements On 3.1m Projects Rise To N6.01trn         The Central Bank of Nigeria’s financial disbursements on about 3.1 million projects have risen to N6.01tn, the apex bank has said. It was learnt that the over three million projects were financed through 29 interventions, while the bank...

Africa Needs $108bn For Infrastructure Financing – Adesina         The President of the African Development Bank, Dr Akinwumi Adesina, has urged African leaders to tackle infrastructural challenges as an annual estimate of between $64 and $108bn is required to finance the infrastructural gap. According to a statement...

Ibom Deep Seaport First Phase To Gulp $2bn, Says Commissioner         Akwa Ibom State Commissioner for Economic Development and Ibom Deep Sea Ports, Mr Akan Okon, has said the construction of the first phase of the Ibom Deep Seaport and Industrial City in the state would...