Connect with us

latest

Highlights Of Decisions Taken At Federal Executive Council Meeting On 13th And 14th May 

Published

on

Highlights Of Decisions Taken At Federal Executive Council Meeting On 13th And 14th May
The Federal Executive Council (FEC), presided over by President Bola Tinubu, concluded its meeting spanning May 13 and 14, 2024. The Council approved numerous policies and projects aimed at boosting the economy, facilitating investments, and enhancing the ease of doing business in Nigeria. Below are the major highlights from the meeting, as shared by Bayo Onanuga, Special Adviser to President Tinubu on Information and Strategy:....KINDLY READ THE FULL STORY HERE▶

  1. Infrastructure and Housing Initiatives: The FEC supported initiatives to revolutionize Nigeria’s infrastructure and housing sectors through Public-Private Partnerships (PPPs), aiming to unlock N2 trillion. The government envisions providing 25-year low-interest mortgages to enable affordable homeownership.
  2. Airport Tolls: All users of federal airports across Nigeria must now pay tolls at the gates, including the President and Vice President.
  3. Sand Dredging Ban: Sand dredging is banned within 10 kilometers of all federal bridges nationwide.
  4. Visa Policy Review: A 4-week deadline was set for reviewing visa policies to facilitate tourism, business, and creativity. The review aims to allow online visa applications with a 48-hour processing time and potential visa waivers for certain countries.
  5. Disabled Aircraft Recovery System: Approval was granted for the supply, installation, and training for a disabled aircraft recovery system at Murtala Muhammed Airport in Lagos, costing N4.2 billion.
  6. Fibre Optic Cable Development: A Special Purpose Vehicle (SPV) will be created on a PPP basis to develop 90,000 kilometers of fibre optic cable, increasing Nigeria’s internet connectivity by 60-70%.
  7. NITDA Reconciliation and Expansion: Approval for consultancy services for the reconciliation and expansion of remittances to the National Information Technology Development Agency (NITDA).
  8. Digital Technology Exchange Programme Hub: Conversion of the property at 324 Jackson Street, San Francisco, USA, into a Nigerian Digital Technology Exchange Programme Hub, valued at close to $7 million.
  9. Bus Terminals in Abuja: Contracts worth N51 billion were approved for building bus terminals and other transport facilities in Abuja. The project will be completed by Planet Projects Nigeria Limited within 15 months.
  10. Kwaita-Yebu Road Upgrade: A contract worth N7.6 billion was awarded to Messrs El & Matt Nigeria Limited to upgrade the Kwaita-Yebu Road in Abuja, to be completed in 18 months.
  11. Court of Appeal Abuja Division: A contract worth N37.2 billion was awarded for the construction of the Court of Appeal Abuja Division, to be executed by Messrs Visible Construction Limited.
  12. Street Lights on Bill Clinton Drive: A N412 million contract for street lights on Bill Clinton Drive, including the procurement of 8 back-up generators powered by Compressed Natural Gas (CNG) or Solar.
  13. Toyota Land Cruiser Buffalo V6 for Customs: Nigeria Customs Service will purchase 200 CNG-powered Toyota Land Cruiser Buffalo V6 vehicles at a cost of N12.5 billion, with insurance cover provided by NEM at a cost of N522 million.
  14. Revenue Assurance Platform for Lottery and Gaming Sector: A 15-year concession was granted to Messrs Yuan Resources Limited for deploying a revenue assurance platform under a PPP arrangement in the lottery and gaming sector.
  15. Road Projects: Several road projects were approved, including the reconstruction of Iseyin-Okeho-Iganna Road in Oyo State and Section 2 of the Lagos-Calabar Coastal Superhighway at a cost of N1.6 trillion.
  16. Koton-Karfe – Abaji Road Reconstruction: An N89 billion contract was awarded for the reconstruction of Koton-Karfe – Abaji Road in Kogi State.
  17. Lokoja-Benin Road Reconstruction: Approval for the reconstruction of Lokoja-Benin Road, Okpela Section, Lokoja-Benin Dualised Auchi Section – Uromi Link Road, and Lokoja-Benin Road, Ekpoma Section, financed by BUA Cement at a cost of N120 billion under the tax credit scheme.
  18. Additional Road and Bridge Contracts: Various contracts for roads and bridges in Kwara, Edo, and Kebbi States, totaling N546 billion.
  19. Kano Bypass: A N230 billion contract to Messrs CCECC for the construction of a 37km Kano Bypass, including bridges and flyovers, to be completed in 36 months.
  20. Sokoto-Illela-Badagry Superhighway: Procurement approval for the Sokoto-Illela-Badagry superhighway to join the Lagos-Calabar Coastal superhighway, initially awarded in 1976 but abandoned.
Tension in Lokoja: Popular Blogger Dragged Into Custody Over Ododo Allegations
Stay connected via Google News
Follow us for the latest travel updates and guides.
Add as preferred source on Google
Advertisement

latest

Uzodinma Sparks Fresh Debate, Says Imo Governorship Must Not Stay In One Zone.

Published

on

Governor Hope Uzodinma of Imo State has reiterated his position that the governorship seat must continue to rotate among the state’s three senatorial zones.....KINDLY READ THE FULL STORY HERE▶

He made the remark while receiving the report of the Imo Elders Council, which was constituted to review the Charter of Equity guiding the rotation of the governorship position among Orlu, Okigwe, and Owerri zones.

Uzodinma stressed that Imo State would not tolerate any form of political domination or forceful takeover, insisting that fairness, inclusion, and consensus remain essential for sustaining peace and stability in the state.

Speaking at the Government House Banquet Hall in Owerri, the governor recalled the political tensions that followed the 2020 leadership crisis when he assumed office, noting that exclusion breeds resentment and instability.

He maintained that anyone denied justice is unlikely to support peace, adding that his administration is committed to building agreement among stakeholders to prevent political conflict.

Nigerians Pay Homage To Overlooked Heroes In The War On Terrorism

The governor described the Elders Council as the moral compass of the state, explaining that it was legally established to provide non-partisan guidance in governance.

He also revealed plans to strengthen the law establishing the council to enhance its authority, including provisions to address misconduct among members where necessary.

Uzodinma reaffirmed that the Charter of Equity is designed to ensure fair distribution of political offices across the three zones and urged stakeholders to respect zoning arrangements to avoid unnecessary divisions.

He further reaffirmed the state’s alignment with the Federal Government and expressed appreciation for President Bola Tinubu’s support.

According to him, strict adherence to equity and justice would guarantee lasting peace and a smooth political transition in Imo State.

He added that the Charter of Equity is permanent and called on stakeholders to embrace dialogue, unity, and prayer while allowing divine guidance to shape outcomes.

Osimhen’s Move in Jeopardy! Galatasaray–Napoli Talks Crumble While Lookman Attracts More Suitors

Uzodinma also pledged continued consultations with stakeholders from all three senatorial zones to strengthen consensus and promote political stability in the state.

Earlier, the Chairman of the Elders Council, Eze Cletus Ilomuanya, commended the governor for fostering unity, noting that balanced development across all regions is key to sustainable progress.

Ilomuanya urged full implementation of the Charter of Equity through equitable appointments, fair distribution of projects, and equal opportunities across the state.

He described the charter as a framework for inclusiveness, where no part of the state is marginalised and leadership opportunities are open to all citizens.

The elder statesman also advised the governor to remain guided by fairness, justice, and peace in implementing the principles of the Charter of Equity.

Stay connected via Google News
Follow us for the latest travel updates and guides.
Add as preferred source on Google
Continue Reading

latest

Tinubu’s Decision To Drop Finance Minister Edun Sends Panic Through Economy.

Published

on

President Bola Ahmed Tinubu’s decision to remove Wale Edun as Minister of Finance and appoint Taiwo Oyedele as his replacement on Tuesday has triggered mixed reactions across Nigeria’s economic landscape.....KINDLY READ THE FULL STORY HERE▶

The development, along with the dismissal of the Minister of Housing and Urban Development, Ahmed Musa Dangiwa, was confirmed in a memo issued by the Secretary to the Government of the Federation, Senator George Akume.

According to the directive, Edun was instructed to hand over duties to Oyedele, while Dangiwa was directed to transfer responsibilities to Muttaqha Rabe Darma, who has been named minister-designate.

The Presidency did not provide specific reasons for the changes but stated that the cabinet reshuffle falls within the President’s constitutional powers as outlined in Sections 147 and 148 of the 1999 Constitution (as amended).

During his tenure, Edun played a key role in driving Tinubu’s “Renewed Hope” economic agenda, which included the removal of fuel subsidy, foreign exchange reforms, and other fiscal and monetary policies. He had previously credited these reforms with contributing to economic growth of 4.07 percent in Q4 2025, up from 2 percent in 2023, while inflation reportedly declined to 15 percent from 22.04 percent.

Osimhen’s Move in Jeopardy! Galatasaray–Napoli Talks Crumble While Lookman Attracts More Suitors

Despite these improvements on paper, many Nigerians continue to face high living costs, particularly in food, transport, and essential goods.

His exit comes shortly after the International Monetary Fund revised Nigeria’s growth outlook downward to 4.1 percent from 4.3 percent, citing global economic pressures linked to geopolitical tensions in the Middle East.

Edun had recently returned from the World Bank/IMF Spring Meetings in Washington, where he maintained that Nigeria would not seek an IMF bailout despite external challenges, assuring continuity in domestic economic policies.

However, his sudden removal has raised concerns among investors and market observers.

Following the announcement, the naira weakened slightly, closing at N1,350.74 to the dollar, while the Nigerian Exchange Limited recorded an N88 billion gain, though this was lower than the previous day’s N609 billion increase.

Protecting Your Airtel Connection A Comprehensive Guide To Blocking Your SIM Card

Speaking on the development, Professor of Accounting and Finance at Lead City University, Godwin Oyedokun, said the situation should be assessed from both strategic and economic stability perspectives.

He noted that cabinet changes can reflect a government’s effort to reassess its policy direction and strengthen economic management, but warned that poorly communicated or abrupt decisions could create uncertainty.

According to him, investors are less concerned about individual officeholders and more focused on policy consistency, predictability, and institutional strength.

Oyedokun urged the government to ensure transparency and stability in economic communication going forward, stressing that these factors would determine investor confidence in the wake of the reshuffle.

Stay connected via Google News
Follow us for the latest travel updates and guides.
Add as preferred source on Google
Continue Reading

latest

Breaking: Security Forces Neutralize Two Armed Men In Late-Night Plateau Raid.

Published

on

Troops of Operation ENDURING PEACE have neutralised two armed men during a coordinated ambush in Barkin Ladi Local Government Area of Plateau State.....KINDLY READ THE FULL STORY HERE▶

The operation was conducted on the evening of Tuesday, April 21, 2026, at about 7:49 p.m. in the Marit general area near Doruwa Babuje, following credible intelligence on the movement of suspected criminal elements.

According to a military statement, the suspects were allegedly responsible for terrorising surrounding communities through violent attacks, sexual assault, and armed robbery.

Protecting Your Airtel Connection A Comprehensive Guide To Blocking Your SIM Card

Acting on the intelligence, troops set up an ambush and engaged the armed men in a gun duel. Two of the suspects were killed during the exchange, while others escaped into nearby bushes under the cover of darkness.

Following the operation, a search of the area led to the recovery of a locally fabricated rifle, five rounds of 7.62x39mm ammunition, a cutlass, a jackknife, and a mobile phone.

Security forces have since maintained a strong presence in Marit and Lajam villages to ensure the protection of residents, while efforts are ongoing to track and apprehend the fleeing suspects.

Enough is Enough! Cleric Calls on FG to Rescue Benue from Endless Violence

The statement added that troops remain deployed in the affected areas as part of sustained operations aimed at restoring peace and preventing further attacks.

The military also reaffirmed its commitment to safeguarding lives and property, urging residents to stay vigilant and promptly report any suspicious activities to security agencies.

Stay connected via Google News
Follow us for the latest travel updates and guides.
Add as preferred source on Google
Continue Reading

Trending

Copyright © 2023 NIVONEWS

×