Abuja, May 13, 2013 – Nigeria’s short term macroeconomic outlook looks generally strong, with the likelihood of higher growth, lower inflation, and reserve accumulation. This will present the Government with an opportunity to make progress in key reforms and public investments associated with the Transformation Agenda for job creation, diversification, and more effective governance, says … Continue reading
President Goodluck Jonathan on Friday said corruption is the system where equals are treated unequally he made this statement when he pledged that the Federal Government would ensure even distribution of developmental projects among the states. The President made the pledge at the foundation stone laying ceremony of the new ultra-modern federal secretariat complex at … Continue reading
President Goodluck Jonathan last night fired back at a group of Northern Progressives who had earlier accused him of plotting to secure a “third Term” with the Justice Alfa Belgore Committee, warning them to desist from deliberately distracting his Government , and wondering why he should be concerned about a third term bid when in actual … Continue reading
Determined to return the glorious era of cocoa production in Nigeria, the federal government yesterday disclosed plans to rehabilitate over 246,000 hectares of cocoa farms by 2015 in partnership with the cocoa producing states and private sector in Nigeria. This, according to the Minister of Agriculture and Rural Development, Dr Akinwunmi Adesina, would commence this … Continue reading
In a bid to ensure that state governments play active role in electricity distribution in Nigeria, the National Council on Privatisation (NCP) has given approval to state governments to distribute electricity in their territories after reaching agreement with the relevant distribution company. The Bureau of Public Enterprises (BPE) made this known in a statement issued … Continue reading
The Minister of Power, Prof. Barth Nnaji, says the nation’s current power generation is 4, 400 megawatts, representing more than 40 per cent of the expectation in 2012. Nnaji disclosed this on Monday at the opening ceremony of a gymnasium built for workers at Egbin Power Station in Lagos. He said that the power generation … Continue reading
A former Chairman of the Economic and Financial Crimes Commission, Nuhu Ribadu, has just issued a statement explaining why he accepted an offer from the Federal Government to serve the country. Mr. Ribadu was on Tuesday named as head of a 17-member petroleum revenue special task force designed to enhance probity and accountability in the … Continue reading
December 6, 2011 at 10:38 am by BusinessNews Staff The 36 Nigerian state governments will next month get the statutory right to generate and distribute electricity from their domain. Chairman, Nigeria Electricity Regulatory Commission (NERC), Dr. Sam Amadi, disclosed this yesterday in Abuja at a stakeholders’ workshop on the review of the Independent Electricity Distribution … Continue reading
Croydon-based Trans4mation Agritech Ltd (T4M) has negotiated an impressive 25-year contract to grow rice in Nigeria, using innovative Vietnamese rice-growing techniques, and is finding joint venture partners with the help of UKTI. The project will give the UK a share of the worldwide rice industry by adapting 30,000 hectares of land in the Niger Delta … Continue reading
BY PROVIDENCE OBUH (Vanguard News) Nigeria’s economy has been projected to be Africa’s biggest economy by 2018, overtaking South Africa in the process. Head of Research Africa, Standard Chartered Bank, Mrs Razia Khan, stated this at the Africa Summit organised by the bank in Lagos, with the theme, “Africa in the Super-Cycle”. In her words, … Continue reading
