Burundi’s annual inflation rate dropped to 6.5 percent last year from 10.5 percent 2009 thanks to lower food costs, but prices will likely rise again in 2011, the country’s statistics board said on Friday. “Prices of food products were generally low in 2010 compared to 2009,” said Elie Ndiririkirirenza, head of the price index at the Institute of Economic Studies…
Kenya’s biggest sugar miller, Mumias, forecast an improved second half after six-monthly pretax profit fell to 1.18 billion shillings from 1.52 billion because heavy rain disrupted cane deliveries. Production in the six months to the end of December 2010 fell to 113,521 tonnes from 123,183 tonnes while sugar sold was down 7 percent to 108,110 tonnes. Earnings from the sale…
Tanzania’s top-grade coffee fetched an all-time high at this week’s auction as the harvest of high quality supply dwindled, traders said on Friday. The price of benchmark grade AA coffee rose to $339.80 per 50 kg bag from $338.00 per bag at the last sale on January 20. “The prices recorded at this week’s auction for premium grade coffee are…
31 January 2011 Pep Guardiola's Barcelona side made more history at the weekend when they equalled the record number of successive league wins held by arch rivals Real Madrid. A Lionel Messi brace and a Pedro Rodriguez strike sealed Saturday's 3-0 win at Hercules - their 15th victory which drew them level with a 50-year-old record held by the great…
31 January 2011 South African champions SuperSport United made heavy weather of it, but defeated Lesotho side Matlama FC 2-0 in their African Champions League preliminary round, first leg, in Polokwane on Saturday. Second-half goals from Jabulani Maluleke and Tebogo Langerman give Matsatsantsa the advantage going into the second leg, which will be played in a fortnight's time. The winner…
The Ekiti State government has concluded arrangements to set up mobile courts to prosecute flouters of the monthly environmental sanitation exercise The state governor, Kayode Fayemi disclosed this at Oye Ekiti in Oye Local Government Area of the state while monitoring the environmental exercise in the state over the weekend. He noted that people of the state did not comply…
The Action Congress of Nigeria(ACN) Senatorial candidate for Abia North, Jerry Eze, has decried the non-development of the area over the years. He said that in spite of the fact that the area was strategic to the development of the state it has not witnessed commensurate development. Mr Eze told the News Agency of Nigeria (NAN) in Ohafia, Abia, that…
The fortune of the Allied Congress Party of Nigeria (ACPN) in Kwara State received a boost over the weekend with the defection of thousands of members from Action Congress of Nigeria (ACN) and the People’s Democratic Party (PDP) to its fold. The ACPN is the new political platform for the strongman of Kwara politics; Olusola Saraki, the father of the…
Winners of this year’s The Future Awards were announced yesterday at a well attended ceremony which took place at Landmark Village, Victoria Island, Lagos. The list covers 21 different categories. Actor of the year Mercy Johnson – Winner Ini Edo Uche Jumbo Best use of advocacy Muyideen Salau – Winner Orode Uduaghan Tola Sunmonu Best use of science Debo Olaosebikan…
BY BENJAMIN NJOKU If you have seen actress Ngozi Nwaosu recently, perhaps, two things are bound to engage your mind; one, that the actress has fallen on bad times and secondly, she has re-invented herself. Whichever way, you want to look at it, you may not be far from the truth. The initially robust-looking, yet fair-complexioned actress is at the…
After wowing Nigerians, especially movie buffs at a classy and well-attended world premiere, which held at posh and pristine Four Points, Lekki, Lagos, Vivian Ejike’s latest film, “A Private Storm’, is poised to storm cinemas nationwide. The big budget production from the stable of the multiple awards winning top female film producer, will sensationally saunter into cinemas on Friday, February…
By Lolade Sowoolu Which young person made the most remarkable contribution in 2010 and is worthy of emulation? That among many more answers will be provided at the sixth edition of The Future Awards holding tomorrow in Lagos. Seyi Law, Ini Edo and Don Jazzy After 3 months of a rigorous judging process, The Future Awards (TFA) released its final…
Nigerians would have to brace up for some tough times ahead as experts say the persistent rise in food prices is set to continue in 2011. Bismarck Rewane, Managing Director, Financial Derivatives Company said “The high food prices experienced in the first half of 2010 are expected to resume in 2011 as increased prices of key food imports such as…
I think the Central Bank of Nigeria’s policy rate is still too low! After nearly two days of meeting early last week, the CBN’s rate-setting committee (the Monetary Policy Committee) agreed to raise the policy rate by 25 basis points. The problem with discussing the monetary policy rate (MPR) in this country is its apparent divorce from the other indices…
The Federal Government said yesterday it would strictly monitor and evaluate all capital projects by its Ministries, Departments and Agencies (MDAs) as a way of improving budget performance and service delivery. Minister of Finance, Olusegun Aganga, who disclosed this at the Procurement Planning Sensitisation Workshop organised by the Bureau of Public Procurement (BPP) last Thursday in Abuja, said this was…