Lawmakers Question N475bn Spent On N-Power In Four Years   The House of Representatives’ Committee on Public Accounts wednesday queried the sum of N475 billion allegedly spent on the N-Power scheme between 2016 and 2020. When asked to give account of the amount expended so far, against...

NSIA Invests N107bn In Presidential Fertiliser Initiative   The Nigeria Sovereign Investment Authority (NSIA) has invested N107 billion in Presidential Fertiliser Initiative (PFI). The agency plans to invest another N114 billion in the year on raw materials, logistics, contract blending costs by third party blenders, among others. The...

Maritime Contributing N7trn Yearly To Economy – Shipper’s Council     The maritime transportation industry is contributing about N7tn to the national economy annually, the Nigerian Shippers’ Council has said. According to the council, the sector, however, must be supported by the Central Bank of Nigeria to enable...

Customs Rake In N3.2bn From Seizures In Katsina     The Nigerian Customs Service, NCS, Border Drill Operation Sector 4, Katsina, said it seized various goods with Duty Paid Value, DPV, of N3.2 billion, between January and May 2020. The sector coordinator, Aliyu Mohammed, said the sector which...

Fed Govt Needs $100bn Investment In Roads – IMF     The International Monetary Fund has said Nigeria needs to invest $100bn in its road network to improve accessibility to all regions. The IMF stated this in its report, titled ‘Nigeria: Technical assistance report – additional spending toward...

Nigeria Loses $29bn Yearly To Power Sector Failure – Lawan   The President of the Senate, Ahmad Lawan, said on Monday that Nigeria was losing an average of $29bn to power sector failure. Lawan stated this in Abuja while declaring open an investigative public hearing on the...