Tuesday, March 26, 2019

Tag "Babatunde Fashola"

    FG to halt bailout for power firms, asks GenCos to find more customers

FG to halt bailout for power firms, asks GenCos to find more customers

The federal government has asked power generation companies (GenCos) to find eligible customers for its product as the payment for shortfalls might end soon.Speaking at a workshop on eligible customer regulation in Abuja on Tuesday, Louis Edozien, permanent secretary of the ministry of power, works and housing, said it is no longer sustainable for GenCos to complain of stranded power [...]

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    ‘He will deliver on the job’ — Fashola endorses Sanwo-Olu

‘He will deliver on the job’ — Fashola endorses Sanwo-Olu

Babatunde Fashola, minister of power, works and housing, says Babajide Sanwo-Olu, governorship candidate of the All Progressives Congress (APC) in Lagos state, is in the best position to lead the state.Speaking at a pre-campaign event in Surulere, Lagos on Friday, the ex-governor said Sanwo-Olu displayed his “competence” when he served as a commissioner under him.“I am in a vantage [...]

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    Fashola: 108 firms approved to supply electricity meters

Fashola: 108 firms approved to supply electricity meters

Babatunde Fashola, minister of power, works, and housing, says 108 firms have been approved to supply electricity meters.The minister said this in Lagos on Sunday during a neighborhood campaign for the re-election of President Muhammadu Buhari.Speaking to voters at his ward, Fashola said the deployment of the firms for the meter asset providers (MAPs) scheme will end estimated billing and [...]

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    ‘We can’t divert $600m that doesn’t exist’ — Fashola speaks on Mambilla power project

‘We can’t divert $600m that doesn’t exist’ — Fashola speaks on Mambilla power project

Babatunde Fashola, minister of power, works and housing, says the reports that the Mambilla power project has been stalled, due to an attempt to divert funds, is not true.The $5.8 billion project, a 3,050-megawatt hydropower facility, was conceived in 1982.In a statement on Sunday, Hakeem Bello, the minister's spokesperson, said the federal government never awarded a contract for the Mambilla [...]

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    FACT CHECK: Verifying Fashola’s claims on debts, unemployment and APC promises

FACT CHECK: Verifying Fashola’s claims on debts, unemployment and APC promises

Babatunde Fashola, minister of power, works, and housing, has made numerous claims on the performance of the Muhammadu Buhari-led All Progressives Congress (APC), its public debt and unemployment figures.Fashola, who said the promises made by the ruling APC were aspirational, also went on to make some controversial claims, which were greeted by public concern, and doubt.TheCable took some time to [...]

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    Nigeria risks $2.3bn fine as Mambilla power project faces crisis

Nigeria risks $2.3bn fine as Mambilla power project faces crisis

The federal government is at risk of a $2.3 billion fine in arbitration over an alleged breach of contract for the $5.8 billion Mambilla power project in Taraba state.The project, a 3,050-megawatt hydropower facility, has stalled owing to legal and funding crises after Sunrise Power and Transmission Company Limited (SPTCL), a local content partner, was reportedly sidelined in the project [...]

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    Ex-APC chieftain: Ambode will return at the end of Agbaje’s tenure

Ex-APC chieftain: Ambode will return at the end of Agbaje’s tenure

Sunday Ajayi, a former chieftain of the All Progressives Congress (APC) in Lagos, says Akinwumi Ambode, governor of the state, will come back after Jimi Agbaje has ended his tenure.Agbaje is the candidate of the Peoples Democratic Party (PDP) in the 2019 election.Ambode had lost the governorship ticket of the party to Babajide Sanwo-Olu, who enjoys the support of influential [...]

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    Fashola: Between substance and shadow

Fashola: Between substance and shadow

A friend once described Nigerians as such atypical, hopelessly-hard-to-satisfy creation on the face of the earth that just when you thought it was time to roll out the carpet and beat the drums for you for having satisfied their yearnings and demands, you see them carrying placards and beating war drums again asking for yet another set of yearnings and [...]

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    Fashola: It’s not govt’s problem if you don’t have power

Fashola: It’s not govt’s problem if you don’t have power

Babatunde Fashola, minister of power, works and housing, says the federal government should not be blamed for the problems in the power sector.According to PUNCH, Fashola made the remark at the Nextier Power Dialogue in Abuja on Wednesday.The minister reportedly blamed the past administration for selling assets that would have been used to rehabilitate the sector, adding that the [...]

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    Fashola asks court to dismiss Falana’s suit compelling FG to fix Apapa-Oshodi expressway

Fashola asks court to dismiss Falana’s suit compelling FG to fix Apapa-Oshodi expressway

Babatunde Fashola, minister of power, works and housing, has asked a federal high court in Lagos to dismiss a fundamental rights suit filed against the federal government by Femi Falana, human rights lawyer.Falana had asked the court to compel the government to fix the Apapa-Oshodi expressway, which leads to the seaport in the nation's commercial capital.The poor state of the [...]

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    Fashola: South-west stands to gain more by re-electing Buhari

Fashola: South-west stands to gain more by re-electing Buhari

Babatunde Fashola, minister for power, works and housing, says the south-west has more to gain by re-electing President Muhammadu Buhari.Fashola said this on Tuesday during the inauguration of 5000 foot soldiers for the campaign of Buhari and Vice-President Yemi Osinbajo in Lagos.He said the re-election of Buhari would guarantee that power would come to the south-west in 2023.NAN reports that [...]

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    Group hails Buhari’s ‘Next Level’ policy document

Group hails Buhari’s ‘Next Level’ policy document

Good Governance and Transparency Initiative (GGAT), a socio-political group, has given President Muhammadu Buhari a pat on the back for his development plan for Nigeria.The group said Buhari/APC’s ‘Next Level’ policy document unveiled on Sunday is an indication that Nigeria is surely heading for the desired level under the current government.Emerald Nzeribe, coordinator of the group, made this known during [...]

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    FG awards N206bn contract for 2nd Niger Bridge

FG awards N206bn contract for 2nd Niger Bridge

The federal government has awarded Julius Berger Construction Company a N206 billion contract for the main work on the 2nd Niger Bridge.Babatunde Fashola, minister of power, works and housing, made the disclosure during a press briefing in Abuja on Monday.According to him, the project expected to be completed in 36 months, would be funded under the presidential infrastructure development fund (PIDF).He [...]

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    FG: Why we resisted temptation to cancel power sector privatisation

FG: Why we resisted temptation to cancel power sector privatisation

Lai Mohammed, minister of information, says the federal government resisted the temptation to cancel the power sector privatisation in order not to send wrong signals to prospective investors.The minister said this on Thursday in Abuja while answering questions on a programme aired on Radio Nigeria.The nation's power sector was privatised in November 2013 as private investors took over now-defunct Power [...]

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    Lai claims 7,000MW, Adesina says 4,500MW… what’s the truth about Nigeria’s power generation?

Lai claims 7,000MW, Adesina says 4,500MW… what’s the truth about Nigeria’s power generation?

Within 24 hours, two prominent figures have churned out conflicting figures on Nigeria's current power generation capacity. On Tuesday, Lai Mohammed, minister of information, said the country now generates 7,000 megawatts of electricity. A day after, Akinwumi Adesina, president of the African Development Bank (AfDB), pegged the figure at "around 4,500 megawatts".While speaking at a News Agency of Nigeria (NAN) [...]

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    Nigeria’s debt for infrastructure is good debt, says Fashola

Nigeria’s debt for infrastructure is good debt, says Fashola

Babatunde Fashola, minister of power, works, and housing, says debt for infrastructure in Nigeria is good debt, as far as he is concerned.Speaking at the Africa Investment Forum in Sandton South Africa on Wednesday, Fashola said the Nigerian government should not be judged like a private company when it comes to borrowing."The only thing I want to say about debt [...]

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Exchange Rates

March 25, 2019USDGBPEUR
INTERBANK306397354
LAGOS362475413
KANO361474413
PH361475412
ABUJA362476413
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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