FEC okays $242.2m World Bank loans for Lagos

The Federal Executive Council (FEC) yesterday approved two World Bank loans of $242.2 million (over N40 billion) for infrastructural development in Lagos State.Addressing reporters after the FEC meeting presided over by President Goodluck Jonathan, Minister of Information Labaran Maku said the first loan of $200 million from the International Development Association (IDA) was for the Second Lagos State Development Policy Operation.

Nigeria’ll implement UN Arms Trade Treaty

President Goodluck Jonathan has promised Nigeria’s commitment to the implementation of the United Nations (UN) Arms Trade Treaty (ATT) of April 2013.The President spoke yesterday at a three-day National Stakeholders’ Consultative Forum on Illicit Arms and Light Weapons, which opened on Monday in Abuja.Represented by the Minister of Interior Abba Moro, the President said the ATT was in the best interest of Africa.He urged countries that had not implemented the ATT in Africa to do so to fast-track its implementation.

Nigerian Senators Negotiate Bribe To Endorse Report On Missing Petro-Billions

A credible source at the Nigerian Senate has told SaharaReporters that members of the Senate Committee on Finance led by Senator Ahmed Makarfi have been offered unspecified amounts of bribe by agents of Nigeria’s Minister of Petroleum Resources, Diezani Alison-Madueke, and officials of the Nigerian National Petroleum Corporation (NNPC), to endorse the committee’s interim report on billions of dollars in crude oil sales that Sanusi Lamido Sanusi, suspended Governor of the Central Bank of Nigeria, claimed were never accounted for.Last week, the 11-member committee prematurely released an interim account that sought to absolve Ms. Alison-Madueke and NNPC officials,

Clark To Jonathan: Revoke Asari And Tompolo Contract

A prominent Ijaw leader, Chief Edwin Clark on Tuesday asked the Federal Government to revoke the multi-billion naira pipeline and maritime protection contracts awarded to two former leaders of the Niger Delta militants, Government Ekpemukpolo (Tompolo) and Asari Dokubo.The Ijaw leader, who said this while contributing to a debate on the report of the National…