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Progress: North-South Power Pays $61.6m to Close Shiroro Hydro Deal

North-South Power, the preferred bidder which won the bid for Shiroro hydro power station under the power privatisation programmme, yesterday paid $61.62 million to the Bureau of Public Enterprises (BPE) to close the deal on the acquisition on the power utility. North-South Power was one of two bidders which did not complete its payment last … Continue reading

We’ve paid 70% of PHCN workers – FG

The Federal Government on Wednesday said it had paid the severance benefits of over 70 per cent of the workers of the Power Holding Company of Nigeria as it worked towards concluding the privatisation of the power sector. It stated that it would conclude the payment before the end of next week. The government also … Continue reading

Jonathan: We’re Not Opposed to Sovereign National Conference

President Goodluck Jonathan thursday affirmed the belief of his administration in the rights of the nation’s constituent parts to come together to discuss how they will continue to live in peace and unity. Jonathan, responding to a request by The Patriots, which submitted a memorandum, in which, among others, it demanded the convocation of a … Continue reading

FG earmarks $1.6bn for power transmission facilities’ expansion

The Minister of Power, Prof. Chinedu Nebo, on Monday said the Federal Government had designated $1.6bn for the expansion of power transmission facilities in the country. He said a substantial part of the fund came in form of loans from the World Bank, African Development Bank and Chinese Exim Bank as well as proceeds from … Continue reading

Budget 2013: FG releases N250b for third quarter capital projects

The Federal Government has released the sum of N250 billion for capital projects for the third quarter of the year to expedite the execution of key infrastructure, security and social projects captured in Budget 2013. This is according to the Federal Ministry of Finance, is in line with the priorities set out by President Goodluck Jonathan, … Continue reading

Nigeria: FG, Chinese Group Sign U.S.$500 Million Expand Transmission Network Deal

The federal government Tuesday entered into an agreement with a Chinese power firm, Xi’an Electric Company Limited, to execute a $500 million electricity transmission projects aimed at expanding and upgrading Nigeria’s weak transmission network within two years. While Xi’an Electric Company Limited, which is owned by China XD Group would execute the project, it was … Continue reading

Nigeria: Arewa Youths Laud Jonathan On Sack of Youth Devt Minister

A day after the Youth Development Minister, Inuwa Abdulkadir, was sacked, Arewa youths have hailed the decision as a welcome development and praised President Goodluck Jonathan for removing the Minister. The youths, under the aegis of Arewa Youth Forum, AYF, said the former minister did not deserve to occupy his position any longer, having lost … Continue reading

N20bn India-Nigeria hospital to curb medical tourism

AS part of efforts to save the country about $200 million (N32 billion) she loses annually to medical tourism to India and others, Governor of Lagos State, Barrister Babatunde Raji Fashola, Chairman Senate Committee on Health, Senator Ifeanyi Okowa and Minister of Health, Prof. Onyebuchi Chukwu, have inaugurated a N20 billion worth Indo-Nigerian multi specialty … Continue reading

FEC okays N32b for Fadama 111, N290.7m for Third Mainland Bridge

THE Federal Executive Council (FEC) Wednesday rose from its weekly meeting with a stamp of approval for the country to obtain a $200 million (N32 billion) loan facility from the International Development Association (IDA)  (World Bank) to be used to expand the Federal Government’s Fadama 111 projects aimed at boosting agriculture in the country. The … Continue reading

Lagos-Kano rail link keeps death off the roads

Travelling by train was millions of Nigerians preferred means of transport at the time of the country’s independence in 1960. But mismanagement by the Nigerian Railway Corporation meant that all of the country’s colonial-era trains ground to a halt within 30 years. A project to restore Nigeria’s rail system was launched a decade ago and … Continue reading

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