Tag: FEC
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FEC approves N310b for road projects
The Federal Executive Council (FEC) on Wednesday approved three memos and a total of N310 billion for roads projects. The Minister of Works and Housing, Babatunde Fashola briefed State House correspondents at the end of FEC meeting chaired by Vice President Yemi Osinbajo at the Presidential Villa. He was with the Minister of State for…
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FEC approves 2.2 per cent increment in Value Added Tax
A new Value Added Tax (VAT) of 7.2 percent has been approved for Nigeria by the Federal Executive Council (FEC), Minister of Finance, Budget and Planning, Mrs Zainab Ahmed, has announced. Addressing newsmen after the weekly FEC meeting on Wednesday, the Minister said this increment was subject to an amendment of the VAT act of…
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FEC approves N52bn for e-monitoring of porous borders
Federal Executive Council (FEC) meeting has approved N52 billion for e-border solution to monitor the country’s porous borders. The weekly meeting was presided over by Vice President Yemi Osinbajo, Briefing newsmen on the decision, Interior minister, Lt. Gen. Abdulrahman Dambazau (rtd) said the contract will cover 86 border posts and all the 1,400 illegal routes…
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FEC approves N5.5bn to create 60,000 jobs
The Federal Executive Council (FEC) Wednesday approved N5.5 billion for the creation of 60,000 jobs. The contract, under the N-Power Knowledge Multipack project, is to train 12,000 youths between 18 and 25 years old. The 12,000 youths will in turn be empowered to train additional youths, bringing the total beneficiaries to 60,000. The Minister of…
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FEC approves five new clean-up contracts for Ogoni land
The Federal Executive Council (FEC) has approved five more contracts for the clean up of Ogoni land in Rivers State. This was announced by the environment minister, Suleiman Hassan, while briefing journalists at the end of a seven-hour meeting of the council on Wednesday. The meeting was chaired by President Muhammadu Buhari. Mr Hassan said…
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Minimum Wage: Buhari summons emergency FEC meeting over labour’s strike threats
President Muhammadu Buhari has summoned a Special Federal Executive Council meeting over labour’s demand for a new minimum wage. The meeting might consider the draft Bill on the new wage structure before it is sent to the National Assembly. The Nigeria Labour Congress (NLC) has made the presentation of the Bill a precondition for shelving…
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FEC approves establishment of four new private universities
The Federal Executive Council (FEC) on Wednesday approved the establishment of four new private universities in Nigeria. The Minister of Education, Adamu Adamu, who announced the approvals while briefing State House correspondents at the end of the first meeting of the council this year, said the new universities are Greenfield University, Kaduna; Dominion University, Ibadan…
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Subsidy debt: Depot owners suspend shutdown of operations, give 5-day grace
The Depot and Petroleum Products Marketers Association (DAPPMA) has suspended its planned shutdown of depots across the country from loading petroleum products effective from 12-midnight on Sunday, Dec. 9. The suspension directive was conveyed in a statement issued by DAPPMA Executive Secretary, Mr Olufemi Adewole, at about 1.20 a.m. on Monday in Lagos and made…
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N800b subsidy debts: Senate gives FG two-week ultimatum
Worried by possible fuel supply crisis in the country, the Nigerian Senate has issued a two-week ultimatum to the federal government to pay off the N800 billion subsidy debts owed oil marketers. TheNewsGuru (TNG) reports Senate issued the ultimatum on Thursday, urging the FG to as a matter of urgency direct relevant agencies to pay…
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Fuel crisis looms as marketers write Senate over N800b subsidy debts
As Nigeria nears the yuletide, the nation may suffer yet another fuel supply crisis as oil marketers have written Senate Committee on Petroleum Downstream over non-payment of subsidy arrears by the federal government. TheNewsGuru (TNG) reports the oil marketers had on Sunday in Lagos gave the FG a seven-day ultimatum to settle outstanding debts totaling…