The Federal Executive Council on Wednesday approved the issuance of promissory notes for the settlement of debts owed local contractors worth N740 billion. The Minister of Finance, Mrs Kemi Adeosun, gave the hint while addressing newsmen after the Federal Executive Coucil meeting, adding that debts to GENCOS, DISCOs and state governments stood at N193.69 billion. […]
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The Federal Executive Council (FEC)has approved a $1.3 billion loan credit facility for the commencement of the Development Bank of Nigeria. The approval came on the heels of a memo submitted by the Finance Minister, Kemi Adeosun seeking council’s ratification on the loan’s request. Adeosun, who briefed State House correspondents on the outcome of FEC […]
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At the federal executive council (FEC) held on Wednesday, the federal government approved the $500 million Eurobond from the international capital market to fund the 2016 budget.Last week, the senate approved the request of Buhari to raise additional $500 million Eurobond to fund the 2016 budget. Kemi Adeosun, minister of finance, said FEC had also […]
Continue ReadingSpeaking with journalists at the end of the federal executive council meeting in Abuja, on Wednesday, Nigeria’s Minister of information and culture, Lai Mohammed said that reports of planned asset sale by the government were mere speculations.He said that the government has not yet come out with its position on bailing out the economy despite a […]
Continue ReadingThe Federal Executive Council (FEC), on Wednesday directed Ministries, Departments and Agencies (MDAs), to fast-track the release of their capital budgets to quickly reflate the economy.The Minister of Budget and National Planning, Sen. Udoma Udo Udoma, announced this to State House correspondents after the FEC meeting presided over by Vice President Yemi Osinbajo in Abuja. […]
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