Friday, December 8, 2017

Tag "Babatunde Fashola"

    FULL LIST: 20 roads billed for construction in 2018 budget

FULL LIST: 20 roads billed for construction in 2018 budget

Twenty new road construction projects across the country will cost N13.3 billion, the 2018 budget document has shown.The federal government allocated a total of N555.99bn to the ministry of power, works and housing, the highest in the budget.Out of that amount, N295bn has been earmarked for key capital projects, to fund road construction, expansion and maintenance across the country.Of the [...]

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    Fashola: We’ve concluded plans to reintroduce toll gates nationwide

Fashola: We’ve concluded plans to reintroduce toll gates nationwide

Babatunde Fashola, minister of power, works and housing, says the federal government has concluded the plan to reintroduce toll gates on various highways across the country.He said this on Thursday while speaking at an interactive session with the senate committee on the Federal Roads Maintenance Agency (FERMA).Fashola said they would be reintroduced in 38 points across the roads.He added that [...]

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    40 years after conception, FG signs $5.79bn contract for Mambilla power plant

40 years after conception, FG signs $5.79bn contract for Mambilla power plant

The federal government has signed the contract for the Mambilla hydro power project.The project was first designed 40 years ago and is expected to add 3,050 megawatts of power to the national grid.The federal executive council had approved the award of the contract on August 30 to Messrs China Gezhouba Corporation, Sinohydro Corporation Limited and CGOC Group Limited.While signing the [...]

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    ‘Dino could have simply written to confirm’ — Fashola rubbishes $35m allegation

‘Dino could have simply written to confirm’ — Fashola rubbishes $35m allegation

Babatunde Fashola, minister of power, has denied allegations of financial impropriety made against him by Dino Melaye, senator representing Kogi west.Melaye had alleged that the power ministry diverted $35 million to the Afam fast power project without the approval of the national assembly.He also said a sum of $350 million ‎raised from a $1 billion Eurobond was spent by the ministry [...]

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    FG signs agreement for Lagos-Abidjan highway

FG signs agreement for Lagos-Abidjan highway

Babatunde Fashola, minister of power, works and housing, says the federal government has signed financial agreement for the execution of Lagos-Abidjan highway.NAN reports that Olusegun Ogunkayode, senior information officer in the ministry, disclosed this in a statement in Abuja on Wednesday.According to the statement, Fashola made this known at the ninth steering committee and experts meeting of the Lagos-Abidjan Corridor [...]

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    Senate summons Fashola over $35m power project

Senate summons Fashola over $35m power project

The senate has summoned Babatunde Fashola, minister of power, works and housing, over $35 million power project.On Thursday, Dino Melaye, senator representing Kogi west, alleged that in 2016, the ministry spent the amount on the Afam fast power project without the approval of the national assembly.He also said a sum of $350 million from a $1 billion Eurobond was spent by the [...]

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    FLASHBACK: How Fashola denied the six-month power solution allegation raised by Jonathan

FLASHBACK: How Fashola denied the six-month power solution allegation raised by Jonathan

On Thursday, former President Goodluck Jonathan fired some shots into the camp of the political party which prevented him from extending his stay at the presidential villa in Abuja.Jonathan also singled out Babatunde Fashola, minister of power works and housing, for allegedly saying a serious government will fix power in six months.Taunting Fashola, Jonathan wondered why the power sector was [...]

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    Senate asks FG to remove ‘power’ from Fashola’s three-in-one portfolio

Senate asks FG to remove ‘power’ from Fashola’s three-in-one portfolio

The senate has urged the federal government to appoint a separate minister for the ministry of power to ensure optimal performance.Under the present administration, the ministry of power is combined with those of works and housing, with Babatunde Fashola overseeing them.The senate also urged the government to immediately incorporate special purpose vehicles (SPVs) for the implementation of alternative energy projects, [...]

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    Works ministry gets N100bn Sukuk proceeds

Works ministry gets N100bn Sukuk proceeds

The ministry of works, power and housing has received N100 billion proceeds from the Sukuk subscription.This comes nine working days after the subscription period of the non-interest bond.The offer period, which opened on September 14, closed on September 20. It was oversubscribed to the tune of N105.87 billion.At an event in Abuja on Thursday, Kemi Adeosun, minister of finance, handed [...]

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    FG won’t revoke privatisation of power sector, says Fashola

FG won’t revoke privatisation of power sector, says Fashola

Babatunde Fashola, minister of power, works and housing, has questioned the call for the cancellation of the privatisation of the power sector.Fashola, who spoke at a policy dialogue on the power sector, organised by the Lagos Chamber of Commerce and Industry (LCCI), said such move would send a negative message to investors.He said the federal government remain committed to honouring [...]

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    Dangote will extend Apapa road construction to Oshodi, says Fashola

Dangote will extend Apapa road construction to Oshodi, says Fashola

Babatunde Fashola, minister of power, works and housing, says the Dangote group has decided to extend the construction of Apapa Wharf road.The minister made this known while speaking at the Lafarge Road Construction Summit in Lagos on Friday.In June, the federal government signed a N4.34 billion memorandum of understanding on the road to be paid for by Flour Mills of Nigeria, [...]

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    Fashola, Egbin disagree over government debt

Fashola, Egbin disagree over government debt

Babatunde Fashola, minister of power, works and housing, has disagreed with the management of Egbin power station over the amount owed it by the federal government.In an interview with Bloomberg, Dallas Peavey, chief executive officer of Egbin Power Plant Plc, had said the government owed the company N125 billion and that about 700MW of electricity was wasted because of inadequate [...]

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    Fashola: Decay of infrastructure in Apapa can shut down Nigeria’s economy

Fashola: Decay of infrastructure in Apapa can shut down Nigeria’s economy

Babatunde Fashola, minister of power, works and housing, says the level of decay, vandalism and deterioration of infrastructure in the Apapa area of Lagos state can shut down the nation's economy.The major seaport in the country is located in Apapa.Fashola, who inspected roads and other infrastructure in Apapa, on Saturday, said the facilities in the area were supposed to boost the [...]

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    Fashola: Bear with us on the state of roads… we are constrained

Fashola: Bear with us on the state of roads… we are constrained

Babatunde Fashola, minister of power, works and housing, says his ministry is constrained, appealing to Nigerians to exercise patience.Speaking with state house correspondents at the end of the federal executive council meeting, Fashola lamented the effect of the raining season on ministries departments and agencies responsible for civil works and road maintenance.The minister said during his tour in the first [...]

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    FG building 2736 housing units in 33 states, says Fashola

FG building 2736 housing units in 33 states, says Fashola

Babatunde Fashola, minister of power, works, and housing, has said 2,736 housing units were being built by the federal government in 33 states.According to Fashola, the ongoing construction is the pilot-phase of the federal government's national housing programme.Speaking on Thursday at the sixth edition of the national council on land, housing and urban development in Abuja, he said: "I am pleased [...]

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    At 6800MW, power generation now beyond DisCos’ capacity, says Fashola

At 6800MW, power generation now beyond DisCos’ capacity, says Fashola

Babatunde Fashola, minster of works, power and housing, says the power being generated is higher than the carrying capacity of electricity distribution companies.Speaking at the 18th monthly power sector stakeholders meeting hosted by Kano electricity distribution company on Monday, Fashola described the situation as a serious challenge to efforts made by the government."It is a serious problem that the distribution [...]

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Exchange Rates

Dec 06,2017USDGBPEUR
INTERBANK360.45487.18428.32
LAGOS362480426
KANO363480427
PH363478427
ABUJA362479426
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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