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FG heeds to Elumelu’s calls, begins harmonization of national economic data

Tony Elumelu

The federal government has realized the importance of harmonized development statistics, not just for development planning, but in feeding foreign investors and international community with homemade figures that are accurate and reliable for investment planning. Before now, several development statistics on Nigeria are cooked up by foreign data agencies due to the non harmonized approach by the government, thereby presenting ...

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Recession would have lasted if CBN had devalued naira—Nwankwo, Fidelity Bank MD

fidelity-gmd

More reasons why Nigeria’s exit from recession was seamless are still emerging. Explaining issues during a recent interactive session with select editors and publishers in Lagos, the managing director of Fidelity Bank Plc, Mr. Nnamdi Nwankwo said one of the best steps taken by the Central Bank of Nigeria’s (CBN) Governor, Mr. Godwin Emefiele at the heat of recession was ...

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Latest Mckinsey report paints gloomy picture of China’s business relations with Nigeria

china relations 2

There are real fears that contrary to the growing impression that Nigeria is gaining much from several near-free infrastructure loans and inflow of investors from China, a gloomy and very dangerous angle of the relations have emerged. One of the dangers includes the observation that several Chinese firms operating in Nigeria are not documented in China, meaning that their mission ...

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Infrastructure Bank boss, Oyinloye opens up on why PPP deals crash in no time

TIBank

Poor coordination on the side of government agencies packaging the deals, unbankability of the projects in view and lack of credible insurance cover have been identified by the Managing Director of The Infrastructure Bank (TIB), Mr. Adekunle Oyinloye, as the reasons for early collapse of several Public-Private Partnerships (PPP) arrangements. Speaking in Abuja at the Public-Private Dialogue on Infrastructure Financing ...

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NEMA warned weeks before River Niger sacked 500 students in Delta

NEMA Mohammed Sani Sidi

Even though over 500 students of Government College at Bomadi, Bomadi local council of Delta State have been displaced by surging fast flowing floodwater from River Niger, which has overflowed its bank, it would be recalled that the National Emergency Management Agency (NEMA) had on first week of August, warned communities along the River Niger to evacuate immediately to safer ...

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Dangote writes Exchange, says planned takeover of S’Africa’s PPC still loading

Dangote

In keeping with standard operations procedures, Dangote Cement Plc., has written authorities of the Nigerian Stock Exchange (NSE), saying acquisition discursion with PPC Limited of South Africa is in its preliminary stage. The letter seen by Business Hilights, said in parts: “In light of the foregoing, the DCP hereby confirms that the board of directors of the DCP has merely ...

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CBN in Awka, lists 3 policy actions to sustain economy’s exit from recession

CBN Godwin-Emefiele

The Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has given three way action plans to be pursued by the agency to deepen growth and further suppress the chances of recession come back including taming inflation, momentary injection of dollars and routine monetary policy regime. Besides, the CBN hinted that measures adopted in the past to drive the ...

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Labour warns ahead of strike on Monday; expect no fuel, no electricity, others

ULC

After reviewing the very poor attention on their plea and warning strike, the United Labour Congress (ULC), has said all is set to commence a nationwide strike this weekend. The demands of the congress include as follows: “That the Federal Government bans the stationing of the army and police in our workplaces and factory premises. This will stop employers who ...

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FG orders probe of ex-heads of NIMASA, JAMB after praises

Kemi Adeosun

Barely 24 hours after the federal government hailed the performance of the Nigerian Maritime Administration and Safety Agency (NIMASA), over ready remittances to the Federal Government’s accounts since this year, the same government after the Federal Executive Council (FEC), relied on the massive remittances made so far to order for the probe of previous Directors general. Affected in the probe ...

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Onovo queries if it’s right to call 0.55 rise in GDP, a growth in economy?

Onovo M

Petroleum engineer, public affairs analysts and former presidential candidate of National Conscience Party (NCP) during the 2015 general elections, Chief Martins Onovo has taken a swipe on the claims by the National Bureau of Statistics (NBS) that Nigeria exited recession vide the infinitesimal 0.55 climb in Gross Domestic Product (GDP) in second quarter. In an interview on Monday in Lagos, ...

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