Nigeria's distributable revenues have dropped to N429.127 billion in February from the N465.19 billion recorded in January. This drop is ascribed to the lower oil prices in the global market paired with attempts to sabotage oil pipelines in the country, a government statement revealed on Tuesday. According to the statement, oil prices fell to $44.74 from $49.57 per barrel in...

The Kebbi State Government on Tuesday said it is targeting N14 billion ($44.7 million) in Internally Generated Revenue (IGR) this year. The state Commissioner for Budget and Economic Planning, Zailani Muhammad, disclosed this at an interactive session with officials on how to find a way to boost the IGR of the state from N4 billion ($12.7 million) to N14 billion in 2017. According to him,...

The Nigeria National Petroleum Corporation (NNPC) has revealed an independent power plant construction programme that will improve the country’s power generation capacity over the next 10 years. This programme which is expected to begin within three years will require $15 billion in investment. According to NNPC’s, Chief Operating Officer (COO), Gas and Power, Saidu Mohammed, the...

The Government of Japan has approved a $33.3 million humanitarian emergency funding to fight polio in Nigeria, Chad, Niger, Cameroon and the Central African Republic. Of this $33.3 million, about $27 million will be used in Nigeria. The money will be used to purchase polio vaccines, conduct house-to-house polio vaccination campaigns and support efforts to mobilize communities...

ASKY, the Pan African Airlines, is pleased to announce new nonstop service between Lomé and Johannesburg effective 8 April 2017. With this flight, Johannesburg will join the growing ASKY hub in Lomé. Passengers will be able to connect between Johannesburg and ASKY’s entire network in West and Central Africa, including Abidjan, Bamako, Conakry, Dakar, Douala, Lagos, Libreville, Niamey,...

Canada will provide $119.25 million in humanitarian funding to crisis-affected people in Nigeria, Somalia, South Sudan and Yemen, Marie-Claude Bibeau (photo), the Minister of International Development and La Francophonie of Canada, revealed on Monday. “The funding announced will help provide life-saving assistance to crisis-affected people in these countries and will take into account the...

The World Bank has approved a $200 million Multi-Sectorial Crisis Recovery Project aimed at tackling the acute humanitarian and forced displacement crisis in the North-east. This project will cover three states; Borno, Yobe and Adamawa, and is expected to restore service delivery and infrastructure rehabilitation in the health, education, transport, water and sanitation sectors. According...

GreenWish Partners will invest $280 million to build solar power plants in three states in Nigeria. These power plants are expected to start producing electricity in the first quarter of 2018. According to CEO, Charlotte Aubin-Kalaidjian, the company will construct a power plant in the southeastern state of Enugu to produce 100 MW, and two others of 50 MW each in the northern Kaduna and...

Kwara State Government has signed a partnership agreement with the Africa Nations Development Programme (ANDP), to build 5,000 housing units in the state. Under the partnership, ANDP will spend N78 billion ($250million) on the project which is expected to cut across all the three senatorial districts of the state. According to the Governor of Kwara, Abdulfatah Ahmed (photo), the mass housing...

By decreeing the promulgation of « Law N° 028/2016 on the Code of Social Security in the Gabonese Republic » on February 6, 2017, the President of the Republic materializes two years of a collective effort to which FINACTU is pleased to have been a dynamic player. This new Code replaces a version, which dates from 1975. The idea of a new Code saw the light and then flourished...