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Senate Warns Customs: Dont Collect Duties on Old Vehicles

The Senate of the Federal Republic of Nigeria has warned the Nigerian Customs Service (NCS) from collecting duties on old vehicles. In its resolution, the Senate said that Customs should drop the proposed move until its Comptroller-General, Hameed Ali appeared before it, to explain the...

Senate Approves $1 billion Eurobond Sale as Investors Fret Over Oil, Forex Risk

Nigeria's Senate has approved the government's request to sell a $1 billion Eurobond to help the country finance its budget deficit, senate spokesman said. Nigeria is suffering its first recession in 25 years and needs to find money to make up for shortfall in its...

2017 Fiscal Year: Senate Approves MTEF

The Senate has approved the Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) and set oil benchmark for 2017 budget at 44.5 dollars per barrel. It also approved the exchange rate at N305 to a dollar as proposed by the executive for the...

Relocation of Abuja Airport to Cost N1.1bn

Minister of State for Aviation, Sen. Hadi Sirika has said that the relocation of operations of the Nnamdi Azikiwe International Airport to Kaduna would cost over N1.1 billion. Sirika while briefing the senate on the logistics implication of the relocation said that the ministry had...

Senate Confirm NERC Commissioners, Reject Chairman

The Senate has confirmed six commissioners of the Nigerian Electricity Regulatory Commission (NERC) and asked President Muhammadu Buhari to nominate another person for the chairmanship of the commission. President Buhari had nominated , Professor Akintunde Ibitayo Akinwande, a US based scholar but he refused to...

Senate Pushes for Diaspora Voting in 2019

The Senate Committee on Foreign Affairs is pushing for Diaspora voting in the coming general elections in 2019, Chairman, Senate Committee on Foreign Affairs, Sen. Monsurat Sunmonu has said. Sunmonu told the News Agency of Nigeria (NAN) in New York that giving franchise to Nigerians...