Tag: Nigerian Economy

The Unprecedented Level Of Patience Shown To Buhari—The ECONOMIST

The Unprecedented Level Of Patience Shown To Buhari—The ECONOMIST

Opinions, Politics
The Rise and Fall of Buhari. This write up is coming from the London Economist, a magazine that endorsed Buhari for President in 2015, is perhaps the most significant, objective, unbiased,  unsentimental and deeply incisive analysis of the policies and actions of this president so far. The facts are unimpeachable by any objective mind. Nigerians have never shown such level of patience and tolerance towards any of their past leaders for his record and strange policies as that shown to their current leader, Muhammadu Buhari – a former military dictator now self-confessed democrat who said he came to fight corruption. Buhari, 75, is being plagued with failures across every single sector in the economy, the like as has never been seen before. Less than a year into office, the economy
Chief Obasanjo, Campaigning For President Buhari

Chief Obasanjo, Campaigning For President Buhari

Opinions, Politics
With barely a year to the presidential election and until a while ago, beyond speculations and perhaps clamour for particular favourites, we never knew the aspirants. But, more out of arrogance and jealousy, former President Olusegun Obasanjo (already) descended on those he diagnosed should forget the elections. Jealousy? That is deplorable enough. Yet, we must add envy to Obasanjo’ reasons for his self-imposed political obstruction. In his Christmas message to Nigerians in 1962, Nnamdi Azikiwe, as Governor-General, described envy as a more deadly disease than jealousy. We now know reason(s) for Zik’s observation. Jealousy is the exhibition of inferiority complex of a desperation to preserve a presumed personal distinction. With that status, envy sets in at the slightest seeming or r
Buhari’s Government, Epitome Of Disaster – Junaid Mohammed

Buhari’s Government, Epitome Of Disaster – Junaid Mohammed

Breaking, Metro, Politics, Security
  Elder statesman and Second Republic lawmaker, Junaid Mohammed has described the president Muhammadu Buhari-led government as a complete disaster. Mohammed said the Buhari government had thrown Nigeria into turmoil, thereby making the nation ungovernable. He made these observations in an interview with Vanguard. According to him, “The country is in turmoil. The country is essentially ungovernable. The country has no leadership, politically, economically or otherwise. And the appearance, unfortunately, as it was, through free and fair election of the Buhari government in 2015 has now turned to be an unmitigated disaster. We have a president who is horribly limited, no ability. “And I am not surprised that his governance has turned out to be the biggest disaster in t
Zubair Out, Uduk In As DG – SEC

Zubair Out, Uduk In As DG – SEC

Business, Economy
Mrs Kemi Adeosun, Minister of Finance, on Friday appointed Ms Mary Uduk, as the new Director -General, the Securities and Exchange Commission (SEC) following the  redeployment of Dr Abdul Zubair, who had held forte since December last year. Mr Oluyinka Akintunde, Special Adviser, Media & Communications to the  Minister of Finance made the changes known in a statement today. Adeosun said that Uduk’s appointment was governed by the provisions of the Investments and Securities Act (ISA), 2007 and the conditions of service applicable to the Director-General of the commission. The Minister in a letter dated April 13, said Uduk’s appointment had become necessary to ensure effective regulation of the Capital Market. “Her appointment will, subject to satisfactory performance, subsi
Nigerian Population Hits 198million – NPC Boss

Nigerian Population Hits 198million – NPC Boss

Breaking, Metro, Opinions, Politics
Nigeria’s population now estimated at 198million The National Population Commission (NPC) has put Nigeria’s current population at 198 million people with urban population growing at an average annual growth rate of about 6.5 per cent
. Chairman of NPC, Mr Eze Duruiheoma, stated this in New York while delivering Nigeria’s statement on Sustainable Cities, Human Mobility and International Migration at the 51st Session of Commission on Population and Development. Duruiheoma said: “Nigeria remains the most populous in Africa, the seventh globally with an estimated population of over 198 million. “The recent World Population Prospects predicts that by 2050, Nigeria will become the third most populated country in the world. “Over the last 50 years, the Nigeria’s urban population has
Failure Assessment, Presidency Rebuffs Obasanjo’s

Failure Assessment, Presidency Rebuffs Obasanjo’s

Metro, Opinions, Politics
The presidency has said that former President Olusegun Obasanjo’s failure tag on the current administration is not new. It said that the administration of President Muhammadu Buhari would, therefore, not join issues with the former president over his comments and assessment. Obasanjo had on Monday night, while addressing a group of youths, who visited him at his country home Abeokuta, described the Buhari’s administration as a failure. Obasanjo also asked the All Progressives Congress (APC) -led government to stop complaining about the challenges it met on the ground. “What we have now is failure. Never you reinforce failure, let failure be failure… Those of you who are in business, your business could have been better today if we have a competent and effective and performing
Be Specific On Your Apology To Nigerians- Most Rev. Nicholas Okoh To PDP

Be Specific On Your Apology To Nigerians- Most Rev. Nicholas Okoh To PDP

Breaking, Metro, Opinions, Politics
Most Rev. Nicholas Okoh , Primate of the Church of Nigeria, Anglican Communion, has faulted the recent apology by the Peopls Democratic Party (PDP) to Nigerians. Rev. Oko also dismissed the looters’ list released by the Buhari government, saying corruption was widespread and not limited to one party. He  told newsmen in Abuja that PDP should be specific to mention the particular areas they took Nigerians for granted. “Their confession appeared to be general and one can’t put a finger on any particular thing. If they believe truly that they had offended Nigerians, and are convinced about it, they should state things more specifically. “For instance, they could have stated that they intended to do this or that, but were unable to do so due to a given reason. Therefore, please
Your Excellency, Lagos Deserves Special Status – Ambode To PMB

Your Excellency, Lagos Deserves Special Status – Ambode To PMB

Economy, Opinions, Politics, Security
Lagos State Governor, Mr. Akinwunmi Ambode on Thursday evening urged President Muhammadu Buhari to seriously consider the possibility of granting Lagos a Special Status to enable it sustain its position as the driver of the nation’s economic growth. Governor Ambode, who spoke at a State Dinner in honour of President Buhari at the Eko Hotels and Suites, Victoria Island, as part of activities to commemorate his two-day official visit to the State, expressed concerns that 26 years after the Federal Capital was relocated from Lagos to Abuja, the State has been left to strive for development without much Federal support. The Governor said that despite the strategic position the State plays in the nation’s economy, there was still much untapped potentials and opportunities for econ
$800m Credit Lines Opened  For 55 banks – Afreximbank

$800m Credit Lines Opened For 55 banks – Afreximbank

Business, Economy, Foreign
The African Export-Import Bank (Afreximbank) has opened credit lines amounting to $800 million in 55 banks across Africa to facilitate the confirmation of letters of credit to support intra-African trade. Mr Obi Emekekwue, the bank’s Director and Global Head, Communications and Events Management Department, said that under the strategy launched in 2016, about $25 billion would be disbursed in support of intra-African trade during the five years ending in 2021. He explained that the bank’s President, Dr Benedict Oramah, disclosed the strategy at the signing of African Continental Free Trade Area (AfCFTA) agreement in Kigali. Oramah said that under the strategy launched in 2016, about $25 billion would be disbursed in support of intra-African trade during the five years ending i
Kaduna DISCO Cries Out, Lament Serious Cases Of  Vandalism

Kaduna DISCO Cries Out, Lament Serious Cases Of Vandalism

Economy, Metro, Security, Technology
Kaduna Electricity Distribution Company on Thursday said it had lost 10 transformers and equipment worth millions of naira to vandals within the last three months in Kaduna metropolis. The power distribution company said in a statement, signed by Abdul-Aziz Abdullahi that the activities of vandals had continued to cause “untold hardship to customers and colossal revenue loss to the company.’’ “In the first three months of this year alone, the Company in its Rigasa Area office has lost equipment worth millions of naira in about 10 incidents of vandalism of power supply assets belonging to the Company.” It said the development was “a serious set-back to the company’s effort at providing steady and qualitative power supply to the customers.’’ The company, therefore, appealed c
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