Federal Government has perfected a plan to concession 10 major highways in the country. Minister of Works, Mr Babatunde Fashola, stated this on Wednesday while presenting details of the plan to National Assembly Joint Committee on Works. He told lawmakers that the project titled, “Highway Development and Management Initiative,” was anchored on a private sector engagement. The minister said investors would carry out the development and management of the road networks. He said the rationale behind the private sector engagement was to provide an avenue to mitigate paucity of funds. Fashola said the first phase of the project would attract…

Federation Account Allocation Committee (FAAC) wednesday shared N547.309 billion among the three tiers of government as allocation for May. A statement by Director (Press) in the Ministry of Finance, Budget and National Planning, Mr Hassan Dodo, said from the shared amount, which included Value Added Tax (VAT), Exchange Gain and Excess Bank Charges recovered, federal government received N219.799 billon; states, N152.436 billion; local government councils got N114.095 billion while oil producing states received N37.021 billion as 13 per cent derivation. The statement noted that cost of collection/Federal Inland Revenue Service (FIRS) refund/allocation to North East Development Commission (NEDC) was N23.958…

Federal Airports Authority of Nigeria (FAAN) says passengers who are not travelling won’t be allowed into the airport terminal building when commercial flights resume. “Covid-19 flight resumption protocol for passengers: Non-travelling passengers will not be allowed into the airport terminal building,” the agency said in a statement on Tuesday. This means that only passengers with valid travel documents will be allowed inside the airport terminal building. This directive is part of FAAN’s measures to ensure smooth operations when airports reopen and commercial flights resume. Presidential task force on Covid-19 (PTF) had announced June 21, 2020, as the tentative date for…

President Muhammadu Buhari has foreclosed the possibility of federal government backing a unilateral takeover of the 11 electricity distribution companies (Discos) by state governments following poor performance of the Discos since the power assets were handed over to the private sector in 2013, investigation by Thisday has revealed. Buhari made his position known in response to recommendations of National Economic Council (NEC) Adhoc Committee on Ownership Review of the Discos and Power Sector Review. The committee was headed by Governor of Kaduna State, Mr Nasir El-Rufai. The president’s response to the El-Rufai-led committee’s report also coincided with moves by stakeholders,…