FEC approves Finance Bill 2020 to back 2021 Budget The Federal Executive Council (FEC) has approved the Finance Bill 2020 meant to support the smooth implementation of the 2021 budget. The Council approved the bill at its 24th virtual meeting presided over by President Muhammadu Buhari...

Fed Govt Disburses N195bn Export Grant To 270 Exporters       The Debt Management Office (DMO) has said that a total of N195 billion has been disbursed to 270 exporters under the Export Expansion Grant (EEG) programme of the federal government. However, the figure is lower than the...

FG Rejects Proposal To Repair Ports’ Scanners With N753m       There is an indication that the five faulty scanners at the Apapa ports have been abandoned as the Federal Government rejects proposal to repair them at a cost of N753 million. This development, our correspondent learnt, comes...

FEC Okays $3.02bn For PH-Maiduguri Rail Line       The Federal Executive Council (FEC) on Wednesday approved the reconstruction and rehabilitation of the Port Harcourt-Maiduguri Eastern Narrow Gauge. The cost of the project was put at $3.02bn. The decision was taken at the weekly meeting of the council presided...

Fed Govt Raises Costs For Five Secretariats By N3.97bn     The Federal Executive Council on Wednesday increased the contract sums for six different projects across the country by N5.48bn. The projects that saw their contract sums increased are federal secretariat projects in five states and the rehabilitation...

FEC Okays N8.6bn To Begin Siemens Power Project     The Federal Executive Council (FEC) has endorsed the President’s approval to release €15.21 million (N6.94 billion) offshore and N1.71bn onshore, totaling N8.65bn as counterpart funding to kickoff phase 1 of the Siemens Presidential Power Initiative. The Minister of...