Tag: Federal Executive Council
Infrastructure Metro Top Story

FG halts compensation for Lagos-Calabar Coastal Highway project amid plan adjustments

The Federal Government has announced a temporary suspension of compensation payments to property owners affected by the Lagos-Calabar Coastal Highway project, specifically from Kilometre Seven onwards, due to modifications in the project plan. This decision was disclosed by the Minister of Works, Senator Dave Umahi, during an inspection tour of ongoing projects on the Lagos-Calabar Read More…
Business Debt Economy

Approval Granted: Nigeria Secures $1 Billion AfDB Loan for Budget Support and Forex Supply

Finance Minister Olawale Edun announced the Federal Executive Council’s (FEC) approval of a $1 billion concessional loan from the African Development Bank (AfDB) aimed at bolstering the budget and enhancing foreign exchange reserves. Edun revealed the loan details, citing a 4.2% interest rate over 25 years with an eight-year moratorium, following a cabinet meeting in Read More…