The United Bank for Africa has revealed plans to sell the Abuja Electricity Distribution Company to recover a $122m debt the Disco is owing it.
The lender had in December 2021 taken over the disco following the government’s approval.
The plan to sell was revealed at the bank’s audited 2022 results conference call (strategic review and outlook).
In December 2021, UBA took over AEDC over the…
The National Agency for Food and Drug Administration and Control on Wednesday in Abuja sealed two shops for allegedly selling unapproved products to Nigerians.
The shops are located in the Zuba Central motor park and Utako main market.
The News Agency of Nigeria reports that…
Lagos-Ibadan Expressway Completed April 30, Drainage Delayed, Oyo Section - FG
April 6, 2023
The Minister of Works and Housing Mr Babatunde Fashola, has said the Lagos-Ibadan and Abuja-Kano Expressways will be completed by April 30.
The minister gave the assurance at the pre-inspection of the completed Loko-oweto Bridge in Nasarawa State on Wednesday.
Fashola said…
The Federal Government has secured $800m from the International Bank for Reconstruction and Development (World Bank) to provide post-petroleum subsidy palliatives for over 50 million Nigerians ahead of June 2023.
The Minister of Finance, Budget and National Planning, Zainab Ahmed, revealed this to State House correspondents on Wednesday, after this week’s Federal Executive Council chaired by the…
In a bid to facilitate a seamless parking experience across the metropolis, the Lagos State Government has partnered ARCA Payment Ltd. to develop a parking payment application that will enhance coordinated parking operations.
Revealing this development at a partnership…
The Director of the Correctional Service Special Study Centre of the National Open University of Nigeria, Francis Enobore, has called on sub-national governments and well-meaning Nigerians to support the free education policy of the NOUN for prisoners to enhance sustainable…
The Nigerian Exchange Limited has recorded N318.52bn of listings across its equities, fixed income, mutual funds and derivatives categories in the first quarter of 2023.
This was disclosed in the X-Compliance report of NGX released on Tuesday.
According to the report, the NGX saw N11.23bn in Federal Government of Nigeria bond listings which constituted FGN Savings Bonds with maturities ranging…
The Federal Government has said the second Niger bridge will be fully open to vehicular movement on May 15.
The Minister of Works and Housing Babatunde Fashola revealed this on Tuesday while inspecting and confirming the completion of the Loko-Oweto Bridge and link roads…
The African Development Bank has approved a grant of $525,000 for an online digital hub to serve as a repository of knowledge for fintech entities in Africa.
This was disclosed during the signing ceremony for the Letter of Agreement between the AfDB Group and the Africa…
Vice President Yemi Osinbajo, on Tuesday, in Abuja, directed the Nigeria Sovereign Investment Authority to develop the country’s first carbon market activation plan and drive engagement on the plan.
He also argued that Africa could become the first truly green civilisation given its status as the lowest carbon emitter and its relatively young population that could effectively deploy green…