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LAMENTS DEATH RUMOUR CIRCULATING IN SOCIAL MEDIA, SAYS ‘I’M ALIVE’TRUTH ABOUT THE IGBO NOT SELLING LAND TO NON-IGBOCONTROVERSY OVER PETROL PRODUCTION FROM PORT HARCOURT REFINERY: NNPCL NOT PRODUCING – REPORT; IT’S MISLEADING CLAIMS, WE’RE PRODUCING – NNPCENUGU TO LAUNCH AIRLINE AS GOV MBAH PRESENTS N971.8B FOR 2025WILL PRICE OF PETROL DROP?, NIGERIANS ASK AS PORT HARCOURT REFINERY BEGINS OPERATIONBREAKING: EFCC ARRESTS YAHAYA BELLOEBONYI GOVERNOR, NWIFURU, SUSPENDS TWO COMMISSIONERS, OTHERSPORT HARCOURT, WARRI, KADUNA REFINERIES TO BE PRIVATIZED – PRESIDENCYEND OF DARK TUNNEL: PORT HARCOURT REFINERY COMMENCES CRUDE OIL PROCESSINGOPEN LETTER TO SOUTHEAST SENATORS, HONOURABLE MEMBERS OF HOUSE OF REPRESENTATIVES, OHANAEZE YOUTH COUNCILNIGERIA WOULD HAVE BEEN BETTER UNDER PETER OBI – ABARIBEWHY NIGERIANS ARE POORER AMID GDP GROWTH -ECONOMISTSZAMANI LEKWOT: HOLDING JUDICIAL, MILITARY TERRORISM TO JUSTICE, BY OWEI LAKEMFAYOU FAILED TO SUPPORT, PARTICIPATE IN IFEANYI UBA’S BURIAL – FAMILY 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Tue. Dec 3rd, 2024
Trending News: UPROAR IN HOUSE OF REPS OVER TAX REFORM BILLSAGF FAGBEMI ASKS ICC TO STOP PROBE OF NIGERIAN MILITARYOVER 61,000 FCT RESIDENTS ON HIV/AIDS TREATMENTNLC BLASTS EBONYI GOVERNOR, SAYS THREAT TO SACK WORKERS IRRESPONSIBLE, UNHELPFULFIVE KEY TAKEAWAYS FROM TAX REFORM BILLS BY OPEYEMI BAMIDELEMINIMUM WAGE: STRIKING WORKERS SHUT DOWN KADUNA, NASARAWA, EBONYI, CROSS RIVERYORUBA, HAUSA LIVING IN ABIA, FAULT REUBEN ABATI, SAY WE’RE NOT DENIED LANDEARLY MORNING FIRE KILLS CUSTOMS OFFICER, WIFE, FOUR CHILDRENLACK OF AUTONOMY, CORRUPTION, CRIPPLING LOCAL GOVTS – HOUSE OF REPS SPEAKER, TAJUDEEN ABBASFG BEGINS ROAD REPAIRS IN ENUGU, EBONYI, ANAMBRA FOR CHRISTMASGOVERNORS SAYING TAX BILLS WILL CAUSE HARDSHIP ARE RESPONSIBLE FOR POVERTY IN NORTH – SANI SHINKAFIFORMER CBN GOVERNOR, EMEFIELE, OWNS 753 DUPLEXES RECOVERED BY EFCC – SOWOREWHY SIMON EKPA CANNOT BE GRANTED BAIL – FINNISH AUTHORITIESEBONYI GOVERNOR THREATENS TO SACK STRIKING WORKERS OVER MINIMUM WAGEGUNMEN KIDNAP GOD IS GOOD MOTORS PASSENGERS IN KOGI, DEMAND N100M PER VICTIMOIL MARKETERS REJECT N1,O30/LITRE PETROL PRICE AS PH REFINERY OPENS UP ON HALTING OPERATIONSTOP TEN BANKS IN NIGERIA BY SHAREHOLDERS FUND IN Q3 2024NIGERIANS IN URBAN AREAS NOW USE CHARCOAL, FIREWOOD FOR COOKINGPORT HARCOURT REFINERY ANNOUNCES RESUMPTION OF FULL OPERATIONCBN TO RETIRE 1,000 EMPLOYEESSEVEN FOUNDERS OF LOCAL AIRLINES IN NIGERIA’S $1.78B AVIATION INDUSTRYTRUMP APPOINTS NIGERIA-LEBANESE BUSINESSMAN ADVISOR ON ARAB MIDDLE EASTERN AFFAIRS2027: ATIKU, OBI’S PARLEY IN YOLA REIGNITES MERGER PERMUTATIONSPH REFINERY STILL OPERATING – ENGINEERS CLAIMCOURT STOPS UNN FOR CONDUCTING CONVOCATION ELECTIONGOWON, OJUKWU NEVER RECONCILED – ONOHNIGERIANS LIVING FAKE GOOD LIFE’ PRIOR TO REMOVAL OF OIL SUBSIDY – TINUBUYET-TO-BE IDENTIFIED CATHOLIC PRIEST KIDNAPPED IN ENUGUFEDERAL PENSIONERS PLAN PROTEST OVER N32,000 INCREMENTMAN LOSES WIFE, DAUGHTER IN CKC ABA STAMPEDEOBASANJO DISOWNS GOWON, SAYS HE NEVER KNEW HE TOLD ABACHA NOT TO KILL HIMA HISTORY OF ZIONIST ATROCITIES, BY FEMI FANI-KAYODECHIDIOKA ACCUSES INEC OF ELECTION RIGGING, QUITS PDPWE’RE NOT PART OF BIAFRA DECLARATION IN FINLAND – IPOBATIKU, OBI PLAY DOWN 2027 AMBITION, SAY WE’RE FRIENDSNIGERIANS TO PAY MORE FOR MTN, GLO, AIRTEL FROM DEC 13PH REFINERY SHUTS DOWN TEMPORARILYSIMON EKPA NOT BAILABLE, FOLLOWERS DECLARE UNITED STATES OF BIAFRA IN FINLANDATIKU, OBI, EL RUFAI PLAN ALLIANCE AHEAD OF 2027NIGERIA, FRANCE SIGN 300M EURO AGREEMENT ON AGRICULTURE, FOOD SECURITYPH REFINERY HALTS OPERATIONS, LOADING BAY EMPTYNLC DIRECTS WORKERS IN 13 STATES TO PROCEED ON STRIKE FROM MONDAYREACTIONS TRAIL SEYI TINUBU’S ENDORSEMENT AS LAGOS GOVERNOR FOR 2027WHY NIGERIA NEEDS TAX REFORM, BY OYEDELEPH REFINERY: NNPCL WILL FURTHER SLASH PMS PRICE – PETROANNO GOING BACK ON NIGERIA’S ECONOMIC REFORMS, TINUBU TELLS FRENCH PRESIDENT, MACRONTINUBU ASSURES OKONJO-IWEALA OF NIGERIA’S SUPPORT ON REAPPOINTMENT AS WTO DIRECTOR GENERALGUSAU UNIVERSITY CONFIRMS ODOH’S PROFESSORSHIP STATUSFIT GROUP TO CONSTRUCT HILTON GARDEN INN IN ENUGUWTO REAPPOINTS NGOZI OKONJO-IWEALA AS DIRECTOR GENERALPETROL PRODUCTION: CONTROVERSY SURROUNDS PH REFINERY, NNPCLMISUSE OF SOCIAL MEDIA FUELS INSECURITY – ARMY ALLEGESFG COMPLETES PH-ABA RAILWAY SECTION, HANDS IT OVER TO NRCPROF AZINGE RECEIVES STAFF OF OFFICE AS 14TH ASAGBA OF ASABAIMO STATE REELS UNDER DEBT: OWES N43B TO CONTRACTORS, N163B DOMESTIC BORROWING, N70B TO CBNENUGU RETIREES LANGUISH AS GOVERNOR MBAH OWES OVER N26.8B IN PENSIONS, GRATUITIESPROF UCHE LUCY ONYEKWELU EMERGIES VICE CHANCELLOR, LUX MUNDI UNIVERSITYTAX REFORM BILLS PASS SECOND READING IN SENATE AS HOUSE OF REPS GOES INTO EXECUTIVE SESSIONHOW POLICE KILLED 24 #ENDBADGOVERNANCE PROTESTERS, DETAINED OVER 1200 OTHERS, INCLUDING MINORS – AMNESTY INTERNATIONALTAX REFORM BILLS: NIGERIANS EARNING BELOW N1M EXEMPTEDNIGERIA TO CONDUCT NATIONAL CENSUS IN 2025WIKE, FUBARA ACCUMULATE HUGE DEBTS FOR RIVERS GOVTIBB, ORTOM, TAMBUWAL TOP LIST OF PUBLISHED LAND TITLE DEBTORS200 TRUCKS LOAD 150,000BP DAILY AT PH REFINERY, ELEME PLANT DORMANTFINISH COURT FIXES MAY 2025 DATE AS SIMON EKPA’S TRIALSACKED VC SUES GUSAU UNIVERSITY FOR DENYING HIS PROFESSORSHIPNIGERIANS MORE LOYAL TO ETHNIC GROUPS, THAN NIGERIA – GOODLUCK JONATHANVAT: LAGOS GETS 17%, IMO – 1.716%MAN KILLS MOTHER, GRANDMOTHER, SISTER AND CHILD FOR MONEY RITUAL IN ENGLISH COMMUNITYNORTH MUST NOT TEAR NIGERIA APART – GOWONPH REFINERY WILL CRASH FUEL PRICE, CREATE JOBS – IPMAN, PETRAONSOUTHEAST STAKEHOLDERS WANT NNAMDI KANU RELEASED, SIMON EKPA JAILEDSUPREME GIVES FINAL VERDICT ON AUTHENTIC APGA NATIONAL CHAIRMANOUR MARKETERS PAID N1,045/LITRE FOR PH REFINERY’S PETROL, SAYS PETROANUPROAR IN SENATE OVER TINUBU”S TAX REFORM BILLSEBONYI GOVT APPROVES PRIVATIZATION OF MEDIA OUTFITSYAHAYA CREATES SCENE AS JUDGE ANGRILY LEAVES COURTROOMPH REFINERY OPERATING AT 70% CAPACITY, TO BLEND 1.4M LITRES OF PETROL PER DAYAHEAD OF 2027, ATIKU, OBI MULL NEW POLITICAL PARTYTINUBU WILL RELEASE NNAMDI KANU – BIANCA OJUKWUOBASANJO LAMENTS DEATH RUMOUR CIRCULATING IN SOCIAL MEDIA, SAYS ‘I’M ALIVE’TRUTH ABOUT THE IGBO NOT SELLING LAND TO NON-IGBOCONTROVERSY OVER PETROL PRODUCTION FROM PORT HARCOURT REFINERY: NNPCL NOT PRODUCING – REPORT; IT’S MISLEADING CLAIMS, WE’RE PRODUCING – NNPCENUGU TO LAUNCH AIRLINE AS GOV MBAH PRESENTS N971.8B FOR 2025WILL PRICE OF PETROL DROP?, NIGERIANS ASK AS PORT HARCOURT REFINERY BEGINS OPERATIONBREAKING: EFCC ARRESTS YAHAYA BELLOEBONYI GOVERNOR, NWIFURU, SUSPENDS TWO COMMISSIONERS, OTHERSPORT HARCOURT, WARRI, KADUNA REFINERIES TO BE PRIVATIZED – PRESIDENCYEND OF DARK TUNNEL: PORT HARCOURT REFINERY COMMENCES CRUDE OIL PROCESSINGOPEN LETTER TO SOUTHEAST SENATORS, HONOURABLE MEMBERS OF HOUSE OF REPRESENTATIVES, OHANAEZE YOUTH COUNCILNIGERIA WOULD HAVE BEEN BETTER UNDER PETER OBI – ABARIBEWHY NIGERIANS ARE POORER AMID GDP GROWTH -ECONOMISTSZAMANI LEKWOT: HOLDING JUDICIAL, MILITARY TERRORISM TO JUSTICE, BY OWEI LAKEMFAYOU FAILED TO SUPPORT, PARTICIPATE IN IFEANYI UBA’S BURIAL – FAMILY ACCUSES SENATENIGERIAN ARMY COMPLAINS ABOUT DWINDLING RESOURCESSENATORS KNOCK TINUBU’S GOVT OVER BORROWING DESPITE EXCEEDING REVENUE PROJECTIONSTHEY SAY THEY WANT BIAFRA, YET THEY KILL, KIDNAP THEIR BROTHERS – BISHOP LAMENTS OVER KILLINGS IN SOUTH EASTAUDITOR GENERAL OF THE FEDERATION UNCOVERS N197.72B FRAUD IN CBN, OTHER MDAS1.5M ENUGU LG WORKERS GROAN OVER WITHHELD SALARIES AFTER VERIFICATION EXERCISEENUGU SHINES AT UK BUSINESS FORUM
Tue. Dec 3rd, 2024

LAGOS-KANO, EASTERN LINES TO BENEFIT FROM RENEWED HOPE INFRASTRUCTURE FUND – ONANUGA

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LAGOS-KANO, EASTERN RAIL LINES TO BENEFIT FROM RENEWED HOPE INFRASTRUCTURE FUND – ONANUGA

The Federal Government intends to use the Renewed Hope Infrastructure Fund, which was recently approved by the Federal Executive Council (FEC), to finance the Lagos-Kano and Eastern Rail Lines, along with other key infrastructure projects.

This is contained a statement signed by Bayo Onanuga, Special Adviser to the President on Information & Strategy, where he explained in detail what the Renewed Hope Infrastructure Fund entails.

According to the statement, Renewed Hope Infrastructure Fund which was unanimously approved by the Federal Executive Council on Monday, is an initiative by the President Bola Tinubu’s administration to finance critical national projects that will accelerate infrastructure and economic development in all parts of the country, particularly in road, rail construction, agriculture, aviation, education, health, energy and technology.

“Among the projects being targeted are major road networks, such as the Lagos-Calabar Coastal highway, Sokoto-Badagry Expressway, Lagos-Kano and Eastern Rail Lines. Ports and aviation facilities will be modernized,” the statement read in part.

Furthermore, the Fund will focus on enhancing the nation’s agricultural value chain to boost food security, as well help create employment opportunities and promote exports, among other things.

The statement said that Nigeria needs $35 billion annually until 2040 to cover its infrastructure expenditure.

This necessitated the establishment of the Presidential Infrastructure Development Fund (PIDF) by former President Muhammadu Buhari, with the National Wealth Authority playing a vital role, to bridge the infrastructural financing gap during his tenure.

While the PIDF contributed to the realization of critical projects, such as the Second Niger Bridge and the Lagos-Ibadan Expressway, it encountered funding constraints and delays in project execution, leading to increased material costs and bureaucratic and institutional challenges.

These challenges faced by the PIDF are what the Renewed Hope Infrastructure Development Fund (RHIDF) aims to overcome, according to Onanuga’s statement.

The initial capital of the RHIDF is N20 trillion (about $14 billion), with investment capital expected from pension funds, concessionary loans, insurance companies, sovereign wealth funds, private sector arms of multilateral development institutions, and bilateral private sector investors.

Other financing sources include individual investors, such as Diaspora Nigerians, endowments, and equity funds.The RHIDF will be managed by a Director-General and will reside within the Presidency, aiming to streamline the bureaucratic processes that usually delay the implementation of projects.

    • Dons Eze

    DONS EZE, PhD, Political Philosopher and Journalist of over four decades standing, worked in several newspaper houses across the country, and rose to the positions of Editor and General Manager. A UNESCO Fellow in Journalism, Dr. Dons Eze, a prolific writer and author of many books, attended several courses on Journalism and Communication in both Nigeria and overseas, including a Postgraduate Course on Journalism at Warsaw, Poland; Strategic Communication and Practical Communication Approach at RIPA International, London, the United Kingdom, among others.

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    NLC BLASTS EBONYI GOVERNOR, SAYS THREAT TO SACK WORKERS IRRESPONSIBLE, UNHELPFUL

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