Diversification
PDP tasks federal government on Dangote refinery shares
The Peoples Democratic Party has advised the Federal Government to ensure transparency in its planned acquisition of 20 per cent shares in Dangote refinery. The PDP said this in a statement by its National Publicity Secretary, Kola Ologbondiyan, in Abuja. Ologbondiyan said: “The PDP has nothing against any genuine and honest incentives for private refineries, but we insist that such must not be used as avenues for siphoning funds from national treasury. “The transaction must be made completely open, in terms of conditions for crude barter trade, duration, equity sharing and signatories among other things.” Ologbondiyan urged the National Assembly to take advantage of its oversight power on the Nigerian National Petroleum Corporation to ensure that the deal was transparent. “The PDP insists...
NBMA reiterates commitment to clamp down on GMOs
The National Biosafety Management Agency, NBMA, Tuesday, reiterated commitment to ensuring the eradication of Genetically Modified Organisms, (GMOs) in the country, as well as assuring Nigerians of safe products in the market. The Director-General of the NBMA, Dr. Rufus Ebegba, made the disclosure while addressing newsmen in Abuja, stating that Nigerians should be aware of the roles of the Agency in the proper regulation of GMOs in the country. He insisted that the NBMA has not been resting on its oars in ensuring that only safe and approved genetically modified seeds and grains for food and feed processing are allowed into the Nigerian market. Hence, he said, the constant upgrading of GM detection, analysis laboratory, and constant inspection of GMO facilities, confined field trial sites,...
Analysts: Printing currency could hurt economy
Analysts have expressed concerns over a recent claim that the federal government resorted to printing money to augment the monthly allocation to the three tiers of government, warning that it could heighten inflationary pressure with dire consequences for the country’s exchange rate and economy. The analysts, in separate interviews with newsmen, warned that a sustained policy of printing the currency, if not well managed, would hurt the economy. The concern came on the heels of recent revelation by Governor of Edo State, Mr. Godwin Obaseki, that due to the dwindling revenue in the face of declining oil revenue arising from the growing sources of alternative sustainable energy, the federal government had to print money to augment the amount available for sharing by the federal, state and lo...
Kaduna governor: Bandits have lost rights to life, must be wiped out
Gov. Nasir El-rufai of Kaduna State says bandits terrorising Nigeria have lost their rights to life under the constitution and must be wiped out. El-rufai made this known during a town hall meeting on national security organised by the Ministry of Information and Culture held in Kaduna with theme:”Setting Benchmark for Enhanced and National Unity in Nigeria”. ”The bandits are at war with Nigeria and there is no other way to approach the current insurgency but for security forces to take the war to the bandits and recover forests where they are occupying. “The security agencies mostly react to cases of banditry and abduction, we are in a war with these terrorist challenging the sovereignty of the Nigerian state. “Our security forces must collaborate to take the war to the bandits and terror...
Nasarawa committed to sports development – governor
Gov. Abdullahi Sule of Nasarawa has reiterated his administration’s commitment to sports development in order to positively engage youths in the state. Sule stated this when he hosted members of National Super Bike Clubs’ Association of Nigeria who paid him a courtesy call in his office, on Friday in Lafia. The governor, represented by the Commissioner for Youths and Sports Development, Alhaji Othman Bala-Adam, thanked members of the association for the visit, assuring them of a fruitful stay in the state. “My administration remains committed to harnessing youths’ sporting potentials and tackling restiveness in the state. “I appreciate your decision to choose Lafia for your maiden Super Bikes Clubs competition and assure you of my support. “This is a timely initiative and a call for invest...
DPR: Market forces should determine gas prices
File Photo The Department of Petroleum Resources (DPR) has advocated that market forces should be allowed to determine gas prices to guarantee the security of supply and demand of the commodity. Mr Sarki Auwalu, the Chief Executive Officer, DPR, disclosed this while presenting keynote address at the pre-summit conference on “Decade of gas’, in Abuja, on Monday. Auwalu said that the right and market-based pricing of gas was critical, as it would assure producers of returns on their investments. He also outlined five critical levers for gas development, especially as Nigeria moves to leverage its abundant gas resources for national growth, diversification of the economy and to use gas as the fuel for economic transformation. According to him, the levers include availability, accessibility, a...
NIRSAL partners NASENI to create 110,000 jobs in agric sector
The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL Plc) has entered into partnership with the National Agency for Science and Engineering Infrastructure (NASENI) with a view to creating over 110,000 jobs in the nation’s agricultural value chain. NIRSAL said in a statement in Abuja Friday that the move is in “continuation of its mandate of providing end-to-end solutions aimed at fixing breakages along the Agricultural Value Chains (AVC) in Nigeria”. According to the statement, NIRSAL has engaged NASENI as its technical collaborative partner for the conceptualization, design, development, deployment, implementation and execution of various schemes/projects under the NIRSAL-NASENI Comprehensive Tractor Recovery Scheme, the NIRSAL Climate-Smart Modular Geo-Coopera...
National Assembly raises 2021 budget by N580 billion, approves N13.588 trillion
The two chambers of the National Assembly yesterday passed the 2021 Appropriation Bill, increasing the budget size from N13.08 trillion presented to them by President Muhamnadu Buhari 11 weeks ago to N13.588 trillion. The passage of the 2021 budget followed consideration and adoption of harmonised reports separately submitted to them by their Committees on Appropriation. The two chambers increased the 2021 budget by about N580 billion and pegged daily crude oil production at 1.86 million barrels per day, while oil benchmark price was fixed at $40 per barrel. They approved N379 to dollar as the official exchange rate while GDP growth rate was pegged at 3 per cent. Highlights of the report approved by the Senate showed aggregate expenditure to be N13,588,027,886,175, statutory transfer of N4...
Minister: Industry, trade, investment key to economic diversification
The Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo, says the sector is crucial in the drive toward diversification of the nation’s economy, away from being oil dominated. Adebayo spoke in Abuja at the Physical/Virtual 12th National Council on Industry, Trade and Investment meeting, with the theme “Revitalisation of the Industry, Trade and Investment Sector in Nigeria in the Post-COVID-19 pandemic era”. He explained the pivotal role of the ministry as a key actor in the economy with the mandate to stimulate domestic investment and attract foreign direct investment into all sectors. The minister said it was committed in facilitating trade in goods and services and maximising benefits of international trade through functional bilateral and multilateral trade relations. Acc...
BMO: President Buhari stands tall in Nigerian youths’ hall of fame
The Buhari Media Organisation (BMO) has stated that no contemporary Nigerian leader has done more to empower young Nigerians than President Muhammadu Buhari. The post BMO: President Buhari stands tall in Nigerian youths’ hall of fame appeared first on TODAY. You Deserve to Make Money Even When you are looking for Dates Online. So we reimagined what a dating should be. It begins with giving you back power. Get to meet Beautiful people, chat and make money in the process. Earn rewards by chatting, sharing photos, blogging and help give users back their fair share of Internet revenue.
Governor Obaseki: I’m committed to economic diversification, food security
Edo Governor Godwin Obaseki, has reaffirmed his government remains committed to economic diversification. He assured the state would continue to initiate and implement policies targeted at boosting the agricultural sector and ensuring food security The Governor, who spoke to journalists in Benin City, said his administration has, in the last three years and eight months, embarked on programmes and reforms created an enabling environment for agricultural businesses to thrive such that more youths and investors could earn a living and create employment. Obaseki said: “We so much believe that with increased investment in agriculture, we will be able to grow sufficient food to sustain food security in Edo State. “Agriculture is a productive venture, not just to feed ourselves, but its products...
Understanding the strength of small businesses
The number of small businesses keeps growing in the formal and informal sectors of the Nigerian economy, due to the role of small businesses as the live-wire of any economy and the backbone of major developed economies the world over. Though Nigeria rely majorly on oil and revenues derived from it, from context observation the economy is largely supported by small businesses covering almost all spheres of activities within the country, ranging from Nano, kiosk, and Micro businesses most importantly. A visible reference usually includes the vulcanizers, corner shop owners, single retail marketers, repairers, painters, business center operators, restaurants, market women, and men in the various open markets, among others. and the formal operations such as the law firms, accounting firms, con...