The Senate on Wednesday expressed over the Federal Government’s M150billion investment in the real estate fund at the expense of the Federal Mortgage Bank of Nigeria (FMBN’s) capital share. The government through the Ministry of Finance Incorporated (MOFI) had subscribed to the N150 billion series 1 offering under the MOFI Real Estate Investment Fund (MREIF)…
The National Assembly says its support for the Federal Mortgage Bank of Nigeria (FMBN’s) recapitalisation efforts aims to enhance the bank’s capacity to deliver affordable housing and reduce the nation’s housing deficit. Chairman of the Senate Committee on Lands, Housing, and Urban Development, Sen. Aminu Tambuwal, stated this in Lagos during a top management housing…
The Minister of Aviation and Aerospace Development, Festus Keyamo and the Algerian Ambassador to Nigeria, Mezoued Hosine have met to discuss the commencement of Bilateral Air Service Agreement (BASA) arrangements between Nigeria and Algeria. Ambassador Hosine expressed his country’s interest in launching air services connecting Algeria, Abuja, and Douala. He requested the Minister’s intervention in…
A former Chairman of Manufacturers Association of Nigeria (MAN), Dr Wale Adegbite, has called on the Federal Government to stabilise the exchange rate as a means of controlling inflation in the country. Adegbite made the call in an interview with the News Agency of Nigeria (NAN) in Ota, Ogun State on Wednesday. The former MAN…
Global big tech, Microsoft on Wednesday said with the right skills and access to digital technologies, Artificial Intelligence (AI) could add an estimated $15 billion to Nigeria’s Gross Domestic Product (GDP) by 2030. Managing Director, Microsoft Nigeria and Ghana, Ms Ola Williams, who spoke at a Microsoft AI Tour media briefing in Lagos, also announced…
The Federal Inland Revenue Service (FIRS) has said the digitization of the nation’s tax process is in line with global best practices. It also disclosed that there are over 500,000 active corporate taxpayers recorded in Nigeria’s national database. Speaking at a Stakeholder Engagement for the Pilot Rollout of the E-invoice solution held in Lagos yesterday,…
The Group Chief Executive Officer of NNPC Ltd, Mr. Mele Kyari has condemned talks about the existence of sub-standard fuel in the country, describing it as unfortunate drama and bad marketing practice. Kyari, who was speaking while fielding questions at a fireside chat during the 60th Nigeria Mining & Geosciences Society (NMGS) Conference in Abuja…
The Nigerian Electricity Regulatory Commission (NERC) has issued an amended Order detailing new threshold of penalties for customers and Distribution Companies (DIsCos) on “Unauthorised Access, Meter Tampering, and By-Pass.” In a statement, the Amended Order, which replaces Order No: NERC/REG/41/2017, became effective since January 22, 2025. This amendment, the regulator said, “aligns with the Electricity…
Angry subscribers yesterday took to Airtel Nigeria’s X (formerly Twitter) page to express their displeasure over the operator’s decision to implement a significant adjustment to its data pricing structure. The revised data plans, published on the telco’s website, include daily plans: N50 for 40MB (valid for one day), N100 for 100MB (valid for one day),…
