Nigerian Economy

The Goodluck Ebele Jonathan Administration in Nigeria (2010 – 2015) has generated quite a number of post-tenure publications which significantly, in varying degrees of articulation, veracity and delivery shed light on key developments during that momentous phase in Nigerian politics.

Even with the signing of the Nigerian Oil and Industry Content Development (NOGICD) Act of 2010, many Nigerian investors still exploit the old loopholes in the system to take advantage of this law.

The World Bank’s Senior Agriculture Economist, Adetunji Oredipe, says Nigeria’s neglect of the agricultural sector has cost the country about $10 billion annually.

The ruling All Progressives Congress (APC) on Thursday came hard on the South African government, accusing it of backing the wave of xenophobic attacks on Nigerians and other Africans in the rainbow nation, and asked the President Muhammadu Buhari administration to take steps to immediately nationalize telecommunications giant, MTN.

The Minister of the Federal Capital Territory (FCT), Muhammadu Bello, has appealed to its residents, especially students and youth, to eschew retaliatory attacks on South African nationals and business interests in the territory over the recent xenophobic attacks on Nigerians in South Africa.

A constitutional lawyer, Mr Realwan Okpanachi, has urged the Federal Government to take drastic measures that would send a strong signal to the South African Government over Xenophobic attacks on Nigerians in that country.

President Muhammadu Buhari has invited investors to make inroads into priority sectors of the Nigerian economy, including power and renewable energy, petrochemical and gas, maritime (shipping and ports), automobiles, mining, agribusiness, healthcare and pharmaceuticals, Information and Communication Technology (ICT) and railways.

President Muhammadu Buhari says Nigeria has very attractive investment opportunities with some of the highest “Returns-on-Investment’’.

The Chartered Institute of Purchasing and Supply Management of Nigeria (CIPSMN) on Wednesday said the country loses about 30 per cent of her procurement budget yearly due to ineffective and inefficient procurement process and system.

Adamu put forward that the Buhari administration has nothing good in stock for Nigerians, having, in his words, brought in “fantastically corrupt” politicians as ministers whose character and track records are a reflection of the president’s person, having promised to bring in people that are best known to him and represents his ideals.

The Federal Government, on Thursday, celebrated its non-oil export commodities earnings which, it said, rose from U$1.17billion in 2016 to US$3.16billion in 2018.

The Minister of State for Budget and National Planning, Mr Clement Ikanade Agba, has urged the staff of the ministry to work as a team to ensure that next 2020 Budget is ready next month.

Minister of Finance, Zainab Ahmed, has warned that the Nigerian economy could go into fiscal crisis if the country fails to increase its revenue.

The World Bank and the African Development Bank (AfDB) have sanctioned and blacklisted more companies and consultants operating in Nigeria for various breaches of their contracting processes considered fraudulent and corrupt.

Akwa Ibom state governor, Udom Emmanuel, has asked Federal Government support any venture that would strengthen the economy of Nigeria, thereby, strengthening its democracy.

President Muhammadu Buhari has felicitated with renowned chartered accountant, iconic leader and legendary teacher, Chief Akintola Williams, who turns a centenarian, August 9, 2019.

The Managing Director, APM Terminals, Mr Martin Jacob, says the firm has employed six female crane operators within the last six months to encourage female participation in the maritime industry.

The Presidency has described as untrue the Peoples Democratic Party (PDP) assertion that the Nigerian economy is in trouble.