African immigrants sent home over $40 billion (N6 trillion) in remittances last year, according to a new joint report by the World Bank and African Development Bank. The figure is down from $41 billion in 2008 and just over US$38 million in 2009, according to a similar report last year. The report which covers r e m i t t…
The naira may not necessarily come under uncontrollable pressure due to the delayed elections, according to some finance experts. Victor Ndukauba, investment research analyst on banking and infrastructure, Afrinvest, a finance research and analysis firm, said though there has been an accumulating pressure on the naira, “the delay in elections would not translate to an uncontrollable pressure on the naira.”…
Goodluck Jonathan, the presidential candidate of the ruling Peoples Democratic Party (PDP), has promised to consolidate his administration’s achievements on the economy, particularly in ensuring that the country attains stable power supply, while agriculture is commercialised and mechanised to provide employment to the youth as well as build a stable economy. His manifestoes, called ‘Agenda for Transformation’, launched as part…
By April 15, 2011, important financial reforms proposed by the U.S. government will come into force. Transnational corporations listed on the US Securities and Exchange Commission (SEC) have been scrambling to insert clauses that would allow them continue operations on the well-worn path of double ‘transparency’ standards. Observers hope there will be no serious changes in the SEC rule as…
The new chief executive officer (CEO) of the Nigerian Stock Exchange (NSE), Oscar Onyema, said his agenda for the market will soon be unveiled to the public. Mr. Onyema, 43, who assumed office officially yesterday, as the fourth CEO of the NSE, told NEXT that he has developmental plans for the market but "will soon address the general public" on…
Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin-top:0in; mso-para-margin-right:0in; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0in; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:"Times New Roman"; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;} The Central Bank of Nigeria, yesterday, said it is closer to achieving its target ratio of less than…
Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin-top:0in; mso-para-margin-right:0in; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0in; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:"Times New Roman"; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;} The economic plans of the presidential candidate of the All Nigeria Peoples Party (ANPP), Ibrahim Shekarau, for Nigeria,…
Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin-top:0in; mso-para-margin-right:0in; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0in; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:"Times New Roman"; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;} In this interview, the director general of the National Office for Technology Acquisition and Promotion (NOTAP), says billions…
Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin-top:0in; mso-para-margin-right:0in; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0in; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:"Times New Roman"; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;} African immigrants sent home over $40 billion (N6 trillion) in remittances last year, according to a new joint…
The south-west zone of Independent Petroleum Marketers Association of Nigeria (IPMAN) will soon acquire a storage facility to ease distribution, Olumide Ogunmade, the south-west chairman of the group, said. He told the News Agency of Nigeria (NAN) in Lagos on Monday that the aim of IPMAN owning a facility was to reduce difficulties often encountered by members in times of…
The naira and its $500 million Eurobond could come under pressure in the coming days as the postponement of national elections unnerves investors, traders and analysts said on Monday. Africa's most populous nation postponed parliamentary and presidential elections by a week on Sunday, after failing to get logistics prepared in time, a major embarrassment for a nation hoping to break…
Nigeria may have foreclosed any plans to explore nuclear energy as an alternative source of electricity power generation. Minister of state for power, Nuhu Wya, who gave this hint in Lagos, said the country would explore other means of power generation in which it has comparative advantage. Responding to a question at the power conference held in Lagos last week,…
Cote d'Ivoire's weather last week was ideal for the development of the April-to-September mid-crop with both rain and sunshine, but political instability has disrupted the harvest, farmers and analysts said on Monday. This year's mid-crop cocoa was expected to be larger compared with last season. But a violent political standoff in the world's top cocoa producing nation after a disputed…
Eni's chief executive has contacted rebels in Benghazi about energy cooperation, as the Italian oil and gas group moved to protect its role as the leading foreign oil operator in Libya. Eni's efforts were supported on Monday by Italy giving Libyan rebels its full backing. CEO Paolo Scaroni had phone contact with representatives of the rebels' National Transitional Council in…
The presidential candidate of the Action Congress of Nigeria (ACN), Nuhu Ribadu, has stated that he will focus on nine major policy themes that would enable the nation address and effectively manage the difficulties that its citizens are presently grappling with. Spelling out his vision in his manifestoes, he listed the policy themes as human capital development, the economy, infrastructure,…