Thursday, October 19, 2017

Tag "Babatunde Fashola"

    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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    Fashola: Metering customers NOT a monopoly of DisCos

Fashola: Metering customers NOT a monopoly of DisCos

Babatunde Fashola, minister of power, says supply of meters to electricity consumers in the country is not exclusive to distribution companies (DisCos).He said as it is an “open but regulated” business.Fashola said this on Monday at the 18th monthly power sector and stakeholders’ meeting in Kumboso, Kano state.He was, however, quick to add that for anybody to be involved in [...]

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    Fashola should ‘stop flying and start using roads’

Fashola should ‘stop flying and start using roads’

Emmanuel Bello, a former commissioner of information in Taraba state, says the minister in charge of roads should stop flying and start using roads to know how bad they are.It is the ministry of power, works and housing, which Babatunde Fashola, presides over, that is in charge of roads.Speaking with journalists on Monday, Bello said the elitist class do not feel [...]

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    Fashola honours reps’ invitation, tenders apology

Fashola honours reps’ invitation, tenders apology

Babatunde Fashola, minister of power, works and housing, has apologised to lawmakers in the national assembly for comments he made on the 2017 budget.The minister had said some provisions in the budget were "unconstitutional."This led to an exchange between him and lawmakers, and he was eventually summoned by the lower legislative chamber.Speaking when he appeared before an ad hoc committee [...]

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    Fashola asks Nigerians to accept the reality of tariff review

Fashola asks Nigerians to accept the reality of tariff review

Babatunde Fashola, minister of power, works and housing, says Nigerians must accept the reality that electricity tariff might be increased for the country to enjoy reliable power.In an interview with THISDAY, the minister urged Nigerians to ask that meters be supplied instead of getting court injunctions against tariff review."If we want to experience reliable electricity, we must accept the reality [...]

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    Saraki, Fashola, Amaechi ‘earning N40bn double pay, life pensions’

Saraki, Fashola, Amaechi ‘earning N40bn double pay, life pensions’

The Socio-Economic Rights and Accountability Project (SERAP) has asked Abubakar Malami, attorney-general of the federation, to take legal action against former governors, who are now either senators or ministers so as to recover an alleged N40bn earned in double payment.SERAP alleged that Bukola Saraki, senate president, Rabiu Kwankwaso, Godswill Akpabio, Theodore Orji, Abdullahi Adamu, Sam Egwu, Shaaba Lafiagi, are among [...]

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    Sam Amadi: I — not Jonathan — reversed electricity tariff

Sam Amadi: I — not Jonathan — reversed electricity tariff

Sam Amadi, former chairman of the Nigerian Electricity Regulatory Commission (NERC), says ex-President Goodluck Jonathan did not order the reversal of electricity tariff in 2014. In the build-up to the 2015 general election, the commission announced an increase in electricity tariff, but it later suspended the action.Speaking at a public lecture in Lagos on Thursday, Babatunde Fashola, minister of power, works [...]

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    Jonathan ordered reversal of electricity tariff to win election, says Fashola

Jonathan ordered reversal of electricity tariff to win election, says Fashola

Babatunde Fashola, minister of power, works and housing, says the Goodluck Jonathan-led government reversed electricity tariff "to win electoral votes".He said the privatisation of the country's power sector was delivered with "some deception".Fashola said this on Thursday while speaking at a public lecture organised by the department of economics, University of Lagos.He said after the privatisation process was concluded, the [...]

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Exchange Rates

Oct 18,2017USDGBPEUR
INTERBANK360.45487.18428.32
LAGOS362475427
KANO363477428
PH364476427
ABUJA362480426
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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