Tag "federal executive council"

    FG: We’ve released $1m for delivery of free contraceptives

FG: We’ve released $1m for delivery of free contraceptives

Isaac Adewole, minister of health, says the federal government has released $1 million for the delivery of contraceptives to improve family planning.The minister made this known while addressing state house correspondents after the federal executive council (FEC) meeting.According to him, procurement for the implementation of the plan led by a committee chaired by a director in the ministry had equally [...]

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    Nigeria exits 90 international organisations

Nigeria exits 90 international organisations

The federal government has decided to stop Nigeria's membership of 90 international organisations.This is as a result of a backlog of $120 million in membership dues and other financial commitments.The decision was reached at the federal executive council meeting presided over by President Muhammadu Buhari on Wednesday.Addressing reporters at the end of the weekly meeting, Kemi Adeosun, minister of finance, said [...]

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    FEC approves three-year tax holiday for 27 industries

FEC approves three-year tax holiday for 27 industries

Okechukwu Enelamah, minister of industry, trade and investment, says the federal executive council has approved a three-year tax holiday for 27 new industries and products.Enelamah, who made this known after the federal executive meeting on Wednesday said it was done in a bid to enable them to grow and expand investments.He said: "The FEC gave approval to a memorandum that [...]

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    FG issues IOUs to clear 11-year backlog of debt

FG issues IOUs to clear 11-year backlog of debt

The federal executive council (FEC) on Wednesday approved the issuance of promissory notes for the settlement of debts owed local contractors worth N740 billion.Kemi Adeosun, minister of finance, said this at a briefing after the FEC meeting, adding that debts to GENCOS, DISCOS and state government were N193.69billion."The memorandum that the council approved was for the issuance of a promissory [...]

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    FG sets $38 oil benchmark in 2016 expenditure

FG sets $38 oil benchmark in 2016 expenditure

The federal executive council (FEC) has approved a N6trn expenditure for 2016 in the medium term expenditure framework (MTEF).Udoma Udoma, minister of budget and national planning, disclosed this to journalists after a meeting of the council presided over by President Muhammadu Buhari on Monday.Udoma also revealed that an oil benchmark of $38 was being projected for the framework.The MTEF, which [...]

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    Buhari inaugurates national economic council

Buhari inaugurates national economic council

President Muhammadu Buhari has inaugurated the National Economic Council (NEC) headed by Vice President Yemi Osinbajo.Speaking at the event, which held at the council chambers of the presidential villa in Abuja, Buhari challenged the council, comprising the 36 state governors and the governor of Central Bank of Nigeria (CBN), to look into outstanding salaries and wages across the country.He also [...]

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    Lagos gets approval for $242.2m IDA loan

Lagos gets approval for $242.2m IDA loan

The Lagos State Government received approval from the Federal Executive Council on Wednesday for two separate loans totalling $242.2m (about N40bn) from the International Development Association (IDA).The minister of information, Mr. Labaran Maku, who disclosed this to state house correspondents at the end of the FEC meeting presided over by President Goodluck Jonathan, said $200m loan was approved to support [...]

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    2014 budget full of distortions, says FG

2014 budget full of distortions, says FG

The 2014 budget passed by the National Assembly is "full of distortions", the federal government has said.Information Minister Labaran Maku said the Goodluck Jonathan administration was doing everything possible to resolve the issues which may cause a negative impact on its implementation.The Senate and House of Representatives passed the budget shortly before Easter, raising the figures from the N4.642 trillion [...]

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Exchange Rates

May 25, 2018USDGBPEUR
INTERBANK360.45487.18428.32
LAGOS360495436
KANO360494435
PH361494430
ABUJA360495430
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