The Federal Government has set a $2 billion fund target for Nigerians in Diaspora to serve as an instrument of sale to the Diaspora for the development in Nigeria.
Dr. Olusegun Aganga, Minister of Trade and Investment, said this in Abuja, recently at a diaspora conference, entitled, ‘Diaspora and Nigeria’s Transformation Agenda’ in Abuja yesterday.
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Monday, 1 August 2011
US debt crisis: Nigeria’s economy will suffer -Experts
As the United States of America (USA) struggles to find a way out of its debt crisis, a professor of Economics at the University of Ibadan, Adeola Adenikinju and a Lagos-based economist, Dr Ayo Teriba, have warned that the value of the dollar and dollar-denominated commodities such as crude oil in Nigeria could depreciate.
The United States Congress has until Tuesday, August 2, to agree to raise the US debt ceiling which would allow the government to continue paying its creditors and to fund state pensions, student loans, military salaries and contracts.
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The United States Congress has until Tuesday, August 2, to agree to raise the US debt ceiling which would allow the government to continue paying its creditors and to fund state pensions, student loans, military salaries and contracts.
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Sunday, 31 July 2011
One South Africa Bank bigger than nine top Nigeria banks
Nigeria’s top nine banks that featured in the Banker’s top global 1000 banks have a combined tier one capital of $11.332 billion.
This is lower than the $12.06bn of Standard Bank Group of South Africa which is, by capital base classification, the leading bank in Africa.
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This is lower than the $12.06bn of Standard Bank Group of South Africa which is, by capital base classification, the leading bank in Africa.
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Saturday, 30 July 2011
Reps Halt N500 Billion CBN Bail-Out for Banks
House of Representatives yesterday stopped an attempt to compel the Federal Government spend N50 billion annually, through the Central Bank of Nigeria (CBN) as bail out fund for ailing banks.
The Bailout Fund is expected to be generated by a pool of contributions by all the commercial banks, as well as the CBN, from where bail outs could be drawn for banks in critical financial condition.
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The Bailout Fund is expected to be generated by a pool of contributions by all the commercial banks, as well as the CBN, from where bail outs could be drawn for banks in critical financial condition.
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Nigeria urgently requires a broadband policy to improve its rating on the global ICT league table, says Ernest Ndukwe, former executive vice-chairman of the Nigeria Communications Commission.
Ndukwe, who was the keynote speaker at the stakeholders' conference and exhibition on the proposed NigcomSat-1R launch earlier this week, said the absence of such a policy was hampering Nigerians' access to broadband-related services.
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Ndukwe, who was the keynote speaker at the stakeholders' conference and exhibition on the proposed NigcomSat-1R launch earlier this week, said the absence of such a policy was hampering Nigerians' access to broadband-related services.
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Lagos strategic to Nigerian economy says Onolememen, Works Minister
In less than two weeks as Federal Minister of Works, Mike Onolememen made a working tour of on-going federal government roads in Lagos State last weekend to scan the extent of damage and progress on the roads.
He went from the Tincan Island Port Project, Apapa-Oshodi Expressway to Lagos-Otta Highway and the Lagos -Ibadan Expressway. He also visited the flooded areas in Lagos, including Mile 12. Onolememen told the contractors handling the projects that he would not accept anything other than performance from them .
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He went from the Tincan Island Port Project, Apapa-Oshodi Expressway to Lagos-Otta Highway and the Lagos -Ibadan Expressway. He also visited the flooded areas in Lagos, including Mile 12. Onolememen told the contractors handling the projects that he would not accept anything other than performance from them .
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Probing the Privatisation Process
Nigerians are increasingly worried about the wisdom of selling government-owned enterprises to individuals in the name of the unfortunate IMF-orchestrated privatisation within the past twelve years.
Protagonists of privatisation claimed that it would stimulate the economy, create employment and generate profit. This seems to be far from the truth as more than 80 per cent of government companies privatised, especially during the Olusegun Obasanjo administration, has failed to operate properly due to what is described as lapses in the privatisation process.
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Protagonists of privatisation claimed that it would stimulate the economy, create employment and generate profit. This seems to be far from the truth as more than 80 per cent of government companies privatised, especially during the Olusegun Obasanjo administration, has failed to operate properly due to what is described as lapses in the privatisation process.
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Technocrats, not solution to Nigeria’s problems
That President Goodluck Jonathan decided to appoint some Nigerians in the Diaspora, minister is not popular in some circles. The impression created is that experts in various fields would know how to get Nigeria out of the hole.
But criticism of the appointment of technocrats is growing by the day. Critics claimed that the president should know by now that what Nigeria needs are people knowledgeable about the way things work in the country and not Nigerians in the Diaspora that will apply unrealistic principles. Such ideas, they said had further confused issues in the past.
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But criticism of the appointment of technocrats is growing by the day. Critics claimed that the president should know by now that what Nigeria needs are people knowledgeable about the way things work in the country and not Nigerians in the Diaspora that will apply unrealistic principles. Such ideas, they said had further confused issues in the past.
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World Ranking: Same Old Story For Nigerian Universities
The webometric ranking of world universities often paints a gloomy picture of university education in Africa and Nigeria in particular as no Nigerian university was listed in the top 2,500, and the ensuing contentious issues.
The world university ranking since its inception has always generated controversies whenever it is released. For some years, top flight universities such as Harvard University, University of Oxford UK, University of Cambridge and the University of Toronto have been at the top of the ranking. However, this year’s ranking published in January shows the table taking a different complexion with some universities making their way up.
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The world university ranking since its inception has always generated controversies whenever it is released. For some years, top flight universities such as Harvard University, University of Oxford UK, University of Cambridge and the University of Toronto have been at the top of the ranking. However, this year’s ranking published in January shows the table taking a different complexion with some universities making their way up.
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Friday, 29 July 2011
FG unveils 25 years development plan for railways sector
THE Minister of Transport, Senator Idris Umar has assured that the nation’s railway sector would be fully resuscitated within the next twenty five years to enable Nigeria to compete favourably with the other countries of the world in the area of railway transportation.
Senator Umar who disclosed this while on the inspection tour of the ongoing construction of Abuja-Kaduna standard gauge, railway modernization project, said the government is developing a twenty five year plan that would ensure the fully resuscitation of the railway sector.
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Senator Umar who disclosed this while on the inspection tour of the ongoing construction of Abuja-Kaduna standard gauge, railway modernization project, said the government is developing a twenty five year plan that would ensure the fully resuscitation of the railway sector.
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