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NRC grants 15-yr rail operating license to Lagos transport agency
Nigerian Railway Corporation (NRC) has granted a permanent rail operating license to the Lagos Metropolitan Area Transport Authority (LAMATA) under a long-term Track Access Agreement, a landmark regulatory approval expected to accelerate the expansion of Lagos’ rail network and significantly boost…
PenCom, ICPC recover over N3bn in unremitted pension contributions, as crackdown on defaulters intensifies
National Pension Commission (PenCom) says it has recovered over N3 billion in unremitted pensions contribution,as its crackdown on defaulting employers across the country intensifies. PenCom, in collaboration with the Independent Corrupt Practices and Other Related Offences Commission (ICPC), had commenced…
FG to seek compensation from S/Africa for Nigerian businessowners displaced by xenophobic attacks
Federal Government has stated that it will seek compensation from South Africa for Nigerians who lost businesses and properties after fleeing violent anti-African immigrant protests sweeping that country. Acting Nigeria’s High Commissioner to South Africa, Alexander Ajayi said affected returnees are…
FG, SSANU, NASU sign renegotiated 2009 agreement on conditions of service, others
Federal Government has formalised the renegotiated 2009 agreement with the Senior Staff Association of Nigerian Universities (SSANU) and the Non-Academic Staff Union of Educational and Associated Institutions (NASU). The new agreement follows on the heels of a similar deal with…
FG scraps JSS/SSS model, adopts 12-year continuous basic education
Federal Government has scrapped the four-decade long Junior (JSS) and Senior (SSS) model in secondary education, in a major reform of the country’s basic education programme. This is also the government introduced a 12-year continuous and uninterrupted programme in the…
FG to issue fresh N729bn bond for GenCos settlement, as legacy debt rises to N6.8trn
Nigerian government has disclosed that it is pushing ahead with the second tranche of about N729 billion bond issue to settle part of the power sector’s legacy debt to Electricity Generation Companies (GenCos). The Nigerian Bulk Electricity Trading Plc (NBET) confirmed…
Cooking gas prices drop amid supply surge
Retail prices of the Petroleum Liquefied Gas (LPG) also known as cooking gas have dropped massively from the N2, 300+/kg across the country to as low as N1, 000/kg, as confirmed by the Nigerian Association of Liquefied Petroleum Gas Marketers…
FEC approves $2.96bn, €200m, N215bn financing for transport, agric, power, MSMEs sectors
Federal Executive Council (FEC), Monday, approved a series of financing arrangements worth about $2.96 billion, €200 million and N215 billion to boost transportation, agriculture, power, infrastructure and micro, small and medium enterprises (MSMEs). Disclosing after the FEC meeting in Abuja,…
ProvidusUnity Bank announces commencement of unified operations
Fresh from its recent merger deal, the ProvidusUnity Bank has announced official commencement of operations as a single banking institution. The new bank disclosed that it has completed all regulatory approvals, shareholder endorsements and judicial processes required to consummate the business…
FG may clamp down on petrol marketers over continued high pump prices
Federal Government has expressed displeasure with Premium Motor Spirit (PMS) or petrol marketers over the continued high pump price of the product despite the easing of global tensions in the Middle East which triggered the rise in the first place. The…
