The Financial Times, on January 31, 2022, published an article titled “What is Nigeria’s government for?”, where the writer, David Piling stated, “On the British Airways flight between London and Nigeria’s administrative capital of Abuja, one of the airline’s most profitable routes, nearly all the space is taken up with flatbeds. The unfortunate few making their way to a crunched economy section at the back must trudge through row after row of business class. “Evidently,...

ABUJA — The Federal Executive Council (FEC) has said the Nigerian National Petroleum Corporation (NNPC) requested a bill of N3 trillion as payment for petrol subsidy in 2022. The minister of finance, budget and national planning, Zaniab Ahmed told state house correspondents on Wednesday at the end of the FEC meeting presided over by President Muhammadu Buhari. Ahmed said a request to provide additional funding to meet the incremental petrol subsidy request in the 2022...

ABUJA — The federal government in a circular has approved a prior review of the threshold service-wide application for procurements in Ministries, Departments, and Agencies (MDAs). According to a circular signed by the Secretary to the Government of the Federation (SGF), Mr. Boss Mustapha, ministerial tenders board can now award a contract of N30 million and above but less than N1.5 billion for works. TheCable reported that this represents a 200 percent increase from the...

ABUJA — A Report has it that the Federal Government may have turned the over N1trn Natural Minerals Resources Fund set up to develop the solid minerals sector to a ‘slush’ fund. The report further revealed that the fund was set up by former President Olusegun Obasanjo during his administration via an Executive Order in 2002 to develop alternative mineral resources to lessen the country’s dependence on petroleum. Findings indicated that N738.7bn and $3m had...