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FEC Approves Funds To Boost Power, Agriculture Efficiency

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The Federal Executive Council (FEC) has approved 701 billion Naira payment assurance for power generating companies in Nigeria.

The fund, kept by the Central Bank of Nigeria, is to enhance evacuation of power by the Transmission Company of Nigeria to the various power distribution companies in the country without wastage.

The Minister of Power, Works and Housing, Babatunde Fashola, briefed State House correspondents on the approval after the FEC meeting presided over by the Acting President, Professor Yemi Osibabjo.

He said the guarantee is an instrument meant to resolve liquidity problems encountered by the power generating companies in payments to gas suppliers.

Also approved by FEC was the sum of 263 million Naira for the growing of gum arabic seedlings in the country.

The Minister of Agriculture, Audu Ogbeh, said the fund was approved to strengthen the capacity of Nigeria in producing the gum, as the country ranks second in the world behind Sudan.

He said $43 million was earned from the export of gum arabic in 2016, and that 17 states are involved in the gum’s cultivation across Nigeria.

Mr Ogbeh added that the FEC also approved the distribution of improved cassava stems to farmers in the southern part of the country.

The cassava stems, to be provided by the International Institute of Tropical Agriculture, are to improve Nigeria’s cultivation of cassava which is a primary source of ethanol and industrial starch production.

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1 Comment

1 Comment

  1. OLU

    March 3, 2017 at 9:26 pm

    AFTER ARABIC GUM OTHER FARM PRODUCES NEED GOVERNMENT TO BEAM INTERVENTION FUNDS THERE

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National News

Court To Begin Nnamdi Kanu’s ‘Treason’ Trial In Absentia

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Court To Begin Nnamdi Kanu’s ‘Treason’ Trial In Absentia

IPOB Leader, Nnamdi Kanu

A Federal High Court sitting in Abuja, Nigeria’s capital, is set to commence the trial of the leader of the Proscribed Indigenous People of Biafra (IPOB), Nnamdi Kanu.

The trial of the IPOB leader has been scheduled for November 26th and will see five prosecution witnesses lined up to testify against Kanu.

Also Read: Wike Ordered Police, Army To Kill IPOB Members, Nnamdi Kanu Alleges

This was disclosed in a hearing notice served on the prosecution team in the office of the attorney general and Kanu’s lawyer, Ifeanyi Ejiofor.

Kanu is facing charges bordering on treasonable felony instituted against him in response to years of campaign for the independent Republic of Biafra through IPOB.

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Court Orders Reps Member To Produce Fleeing Maina’s Son Within Nine Days

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JUST IN: Court Orders Reps Member To Produce Fleeing Maina’s Son Within Nine Days

Abdulrasheed Maina’s son

House of Representatives member, Umar Sani Dan Galadima has been asked to produce Faisal, the son of Abdulrasheed Maina, who is believed to have jumped bail on or before December 4.

Faisal is being prosecuted before the court on money laundering related offences and was granted bail in 2019.

Honorable Galadima who is representing Kaura Namoda Federal Constituency of Zamfara State is standing surety for Faisal after signing a N60 million bond.

Also Read: BREAKING: Court Fixes Date For Ndume’s Bail Application

Justice Okon Abang in a ruling on Wednesday ordered Dan Galadima, who was present in court, to show cause by December 4 why he should either not forfeit the N60 million he pledged while taking Faisal on bail, or be sent to prison until he is able to produce the defendant.

Recall that on Monday, Justice Abang sentenced Senator Ali Ndume who is a surety for the former Chairman of the defunct Pension Reform Task Team who has also jumped bail.

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Lawyer Dumps Maina, Applies To Quit Case

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Lawyer Dumps Abdulrasheed Maina, Applies To Quit Case

UpAbdulrasheed Maina

Adeola Adedipe, a lawyer hired by Abulrasheed Maina, ex-Chairman of defunct Pension Reform Task Team (PRTT), in his ongoing trial for money laundering, has applied to quit the case.

Maina’s lawyer who is also representing the company of the former PRTT Chairman – Common Input Property and Investment Ltd, informed a Federal High Court sitting in Abuja at the resumption of proceedings in the case on Wednesday, that he has filed a notice, indicating his intention to withdraw from further representing his client.

Also Read: Court Revokes Faisal Maina’s Bail For Failure To Attend Trial

Adedipe revealed that his brief has not been perfected due to the failure of his client to pay.

He apologised to the federal court presided over Justice Okon Abang for being absent from proceedings during some of the recent adjournments.

 

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