FG, CRCC sign $3.9b Itakpe-Abuja railway agreement
The federal government has signed a $3.9 billion agreement with a Chinese firm for the construction of railway from Itakpe to Abuja and construction of..
The agreement, which is Public Private Partnership (PPP), will have Nigeria cover 15 percent of the entire cost of the project while China Railway Construction Corporation (CRCC) will cover 10 percent.
The Minister of Transportation, Rotini Amaechi explained that the government decided to opt for PPP agreement so as to reduce the debt from loans borrowed.
“We will give them sovereign guarantee and they will give us performance bond that protects our sovereign guarantee. When they finish construction, they will manage for 30 years. When they recover their money, the ownership of the asset will revert back to the government of Nigeria. The 15 percent covered by us will be paid gradually.
He said: “We need you to work with us to develop the knowledge of Nigerians and that is why we emphasized on the universities we are asking you to build. We are expecting that not only will you build, you will provide us with lecturers until we can train our own lecturers.
Fashola to appear before Reps over state of Nigerian roads
He explained that the construction of the dry port would reduce the current gridlock witnessed in Apapa area of Lagos state.Read more: The Nation Nigeria
FG may revoke Abuja, Ikeja, six Discos’ licencesAbout time They should also revoke BEDCpower Good move
N30.1bn debt: FG to cancel Abuja, Kaduna,Kano,Ikeja, four discos' licenses – Daily TrustThe Nigerian Electricity Regulatory Commission (NERC) has notified eight power Distribution Companies (DisCos) on its intent to cancel their licences in 60 days after they accumulated N30.1 billion energy invoice debts for July 2019. In a notice signed by Dafe Akpeneye, the Commissioner for Legal, Licencing and Compliance, published today, NERC directed Abuja, Benin, Enugu, … Kaji Koh:🤔 just revoke the license. period.This privatisation landed us in this abyss. A bad idea from the very beginning.Revoke all the licences.
FG launches radioactive detector for Abuja airport – Daily TrustThe Nigeria Nuclear Regulatory Authority (NNRA) has launched a Radiation Portal Monitor (RPM) for the Federal Airports Authority of Nigeria (FAAN) to use at the Nnamdi Azikiwe International Airport, Abuja. Speaking at the launch at the cargo terminal on Tuesday, the acting Director General of NNRA, Dr. Yau Idris, said, with the monitor, it would …
Minimum Wage: FG, Labour In Closed-Door MeetingMinimum Wage: FG, Labour In Closed-Door Meeting Let them get this thing approved. It's long overdue! But no closed door meetings needed to decide your bloated salaries. Continue. They always meet behind closed doors and nothing comes out when the door is finally opened
Abia lawmakers seek FG’s urgent intervention on federal roadsThe Abia House of Assembly has called on federal lawmakers from the state to draw FG’s attention to the deplorable condition of federal roads in the state. Mumu lawmaker, make una try fix am small
Minimum Wage: Again, FG, labour meet to resolve issuesThe meeting was a sequel to the union’s threat to go on strike if the FG refuses to accept its demand on the new minimum wage implementation by October 16. They keep meeting yet nothing ever gets resolved. God punish una Happy meeting!!