Poverty Reduction

In the last couple of weeks, the economic and political news coming out of Nigeria has not been positive. It has been about doing things the wrong way, lack of due process, desecration of the rule of law, outright impunity for violators of rights and economic policies that have attracted negative ratings

The Founder of the Tony Elumelu Foundation and Chairman, Heirs Holdings and United Bank for Africa Group (UBA), Mr. Tony Elumelu, yesterday advised African, Caribbean and Pacific (ACP) Heads of State to improve the business environment in their countries to drive industrialisation and wealth creation in member states.

Nigeria, which signed the landmark African Continental Free Trade Agreement in July, will on Thursday and Friday hosts its national AfCFTA Forum on the “Effective Implementation of the AfCFTA for Industrialization and Inclusive Economic Development”.

The Federal Road Maintenance Agency (FERMA) on Monday lamented that poor funding of the agency is limiting the maintenance of roads in the country.

The lack of an efficient and resilient financial system is still holding back inclusive and sustainable growth in emerging markets. Policymakers, regulators and financial services organisations should more actively shape a financial system that is fit for purpose.

The World Bank has appointed Mr Shubham Chaudhuri as the new Country Director for Nigeria, succeeding Mr Rachid Benmessaoud who completed his term recently.

President Muhammadu Buhari’s directive that budgets of government owned enterprises (GoEs) are captured in the nation’s annual budget is novel but a most welcome idea.

The federal government has defended its decision to increase Value Added Tax (VAT) from 5 to 7.5percent.

In efforts to ensure every child acquire basic education, the United Nations Children’s Fund (UNICEF) has pledged to collaborate with the Kano State government.

At the disbursement centre in Idi-Agba Titun, Akure, Governor Oluwarotimi Akeredolu said the scheme was to assist the unemployed but productive poor in the state to become self-reliant.

Imo State government has ordered “a comprehensive forensic audit of the local governments’ accounts.”

The National Directorate of Employment (NDE) on Thursday began a massive skill acquisition training for 600 youths in Ekiti State under its National Open Apprenticeship Scheme.

The Governor, Central Bank of Nigeria, CBN, Mr Godwin Emefiele, yesterday said that the apex bank will sustain its use of unconventional monetary policy to boost economic growth and enhance price stability.

The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, yesterday disclosed that total aggregate loans granted by Microfinance Banks (MFBs) to micro small and medium enterprises (MSMEs) in the country stood at N482.896 billion as at December 2018.

An expert in the aquaculture industry and former Chairman of the Lagos Chamber of Commerce and Industry (LCCI) Agriculture Sector, Prince Wale Oyekoya, has urged the government to adopt effective measures towards curbing fish smuggling.

President Muhammadu Buhari on Saturday said the country’s universities have a role to play in reducing insecurity, corruption and ethnic tensions.

A former member representing Gummi/Bukkuyum constituency at the federal house of representative, now the Gubernatorial candidate of Advanced people Democratic Alliance (APDA) in Zamfara state Hon Sani Takori has disclosed that poor governance was responsible for the collapse of education in the state.

Consumers’ cooperatives in the South-East and South-South geopolitical zones have called on the Federal Government to ban the importation of local produce including palm oil to protect the rural producers and farmer.