The Federal Executive Council on Wednesday approved the payment of €15.21 million offshore and N1.
708 billion onshore as part of Nigeria’s counterpart funding for the power deal with Siemens AG, signed by the Nigerian and German governments in 2019.The council also ratified the air transport agreement between Nigeria and the United States at its virtual meeting presided over by the President, Major General Muhammadu Buhari .
The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, told State House correspondents at the end of the meeting that the council ratified the President’s anticipatory approval for the funding. In July 2019, the Federal Government and Siemens signed a Letter of Agreement on the Nigeria Electrification Road Map after the President and the German Chancellor, Angela Merkel met on August 31, 2018, in Abuja.
She said the project would also support the regulator, Nigerian Electricity Regulatory Commission, towards improving metering in the electricity industry in the country.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Sallah Celebration: FG Extends Phase Two of Eased Lockdown by One Week - THISDAYLIVEOlawale Ajimotokan The Federal Government has extended the phase two of eased COVID-19 lockdown which originally ought to expire on Wednesday, July 29, by another one week. It will now end on August 6. The Chairman, Presidential Task Force on COVID-19, Boss Mustapha, announced the extension on Monday when the PTF addressed the media. He …
Read more »
BREAKING: FG lifts ban on airline that flew Naira Marley to Abuja
Read more »
FG names railway stations after Tinubu, Saraki, Soyinka, othersPresident Muhammadu Buhari has named railway stations along the Lagos-Ibadan and Itakpe-Ajaokuta-Warri corridors after some prominent...
Read more »
COVID-19: FG working to resume international flightsThe Federal Government, on Monday, said it was working with the Aviation Sector to fasttrack the reopening of the international airspace which was closed over the impact of the COVID-19 pandemic. Read more:
Read more »
Coronavirus remains very dangerous - FG warns Nigerians - Daily Post NigeriaThe federal government has warned Nigerians that coronavirus remains dangerous. Boss Mustapha, Secretary to the Government of the Federation (SGF), gave
Read more »