Sunday, February 18, 2018

Tag "Babatunde Fashola"

    Fashola: Stop putting Nigeria down… this is a great country

Fashola: Stop putting Nigeria down… this is a great country

Babatunde Fashola, minister of power, works and housing, says Nigeria is a great country which should not be compared to other countries.The minister made this statement while answering questions at a workshop on the power sector recovery programme (PSRP).He said people needed to understand power dynamics before making statements."When people say Germany is exporting power, your country is exporting power [...]

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    INVESTIGATION: How electricity distribution officials racketeer, extort customers in need of prepaid meters

INVESTIGATION: How electricity distribution officials racketeer, extort customers in need of prepaid meters

Disguised, for two weeks, as a desperate customer in need of a prepaid meter, TAIWO ADEBULU investigates racketeering rings among officials of Ibadan Electricity Distribution Company (IBEDC). In this report, he details how the officials source for prepaid meters from local producers, vend them in the black market to extort customers who can part with a huge sum for the [...]

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    Fashola: Works ministry didn’t carry out any capital project in 2017

Fashola: Works ministry didn’t carry out any capital project in 2017

Babatunde Fashola says the works arm of his three-fold portfolio did not carry out any capital project in 2017.Fashola, who heads the ministry of works, power and housing, made this known on Wednesday when he appeared before a senate committee to defend the ministry's 2018 budget.He attributed the situation to the late passage of the 2017 budget."The 2017 budget was [...]

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    FEC approves new framework to expand electricity transmission

FEC approves new framework to expand electricity transmission

The federal executive council (FEC) has approved a new framework to expand the 33KVA and 11KVA electricity transmission lines in the country.The framework will ensure distribution of 2,000 megawatts of generated energy currently not being distributed from power stations.FEC gave the approval on Wednesday during the council’s weekly meeting.Addressing state house correspondents after the meeting, Babatunde Fashola, minister of power, [...]

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    Fashola: 2000 megawatts of electricity currently idle

Fashola: 2000 megawatts of electricity currently idle

Babatunde Fashola, minister of power, says the country currently has 2000 megawatts of electricity that is idle because it cannot be distributed.Fashola said the power is not being utilised because manufacturers have not shown interest in making use of it.The minister made this known at the January 2018 edition of the monthly power sector operators’ meeting in Lafia, Nasarawa."I will [...]

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    Power transmission hits 5,222 megawatts — highest ever

Power transmission hits 5,222 megawatts — highest ever

The ministry of power says the Transmission Company of Nigeria (TCN) successfully transmitted 5,222 megawatts of power to the national grid, the highest transmission in the country's history.The ministry announced this in a tweet on Tuesday morning."The Transmission Company of Nigeria, (TCN) recorded a new national peak with the transmission of 5,222.3 mega watts (MW) of electricity into the national [...]

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    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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Exchange Rates

Feb 16, 2018USDGBPEUR
INTERBANK360.45487.18428.32
LAGOS364497448
KANO364495430
PH363498435
ABUJA365497434
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