$5.8BN MAMBILLA HYDROELECTRIC PROJECT EXISTED ONLY ON PAPER

$5.8bn Hydroelectric Project

Hon. Magaji Da’u Aliyu, the Chairman, House Committee on Power, on Monday declared that the over 40 years old 3,050-MW Hydro-Power project existed only on papers. The Director, Renewable Energy & Rural Power Access, Engr. Faruk Yusuf Yabo indicated that the land for the project has just been acquired. [DAILY INDEPENDENT]

N3.6 billion

A N3.6 billion contract awarded to Adda Nigeria Limited to supply official vehicles to Bauchi government officials included vehicles already purchased and paid for by the government. PREMIUM TIMES has investigated how the Bauchi governor, Bala Mohammed, awarded the contract to a company in which he is a director. [PREMIUM TIMES]

80% financial inclusion

The target by the Central Bank of Nigeria to ensure 80 percent of Nigerian adults have access to financial services by end of 2020 is unlikely to happen Enhancing Financial Innovation and Access (EFInA), the organization that conducts biennial reports on Nigeria’s financial inclusion industry, has said. [BUSINESSDAY]

$129.17 UN funding

Farming will soon get a boost in the Southeast and Southsouth as the Niger Delta Development Commission (NDDC) has received $129.17 funding for agriculture from a United Nations (UN) agency. It came through a partnership with the International Fund for Agricultural Development (IFAD) and the Federal Ministry of Agriculture and Rural Development. [THE NATION]

2.27% Growth

The National Bureau of Statistics on Monday released the Gross Domestic Product report for the 2019 fiscal year with the economy growing by 2.27 percent in 2019. The annual GDP growth rate of 2.27 percent, according to the NBS, represents an increase of 360 basis points over the growth rate of 1.91 per cent recorded in 2018. [PUNCH]

Return 6-3-3-4

Osun State Education Panel, on Monday, submitted its report to Governor Adegboyega Oyetola. Some of the panel’s recommendations are a reversal of the single school uniform regime and return to the 6-3-3-4 education system in line with the National Education Policy. [VANGUARD]

14 years after closedown

The House of Representatives Committee on Public Account heard on Monday that some workers of the Nigeria Mining Corporation (NMC) are still getting salaries from the government, 14 years after the corporation was closed down. [THE NATION]