Chairman of the Special Presidential Panel for Recovery of Public Property, Mr. Okoi Obono-Obla, noted in a News Agency of Nigeria report, on September 7, 2018, in Abuja, that the agency was continuing its investigations to “recover monies that have been taken away (stolen?) from the people of Nigeria.” According to Obono-Obla, “the ‘$7bn’ fund […]
MORE Nigerians have abandoned their bank accounts majorly due to economic hardship caused by sluggish economic growth, rising job losses and reduction in purchasing power occasioned by double digit inflation. Statistics from the Nigeria Interbank Settlement System, NIBSS, showed that Nigerians abandoned 10 million bank accounts in 2018. NIBSS is owned by all Nigerian banks […]
Nigeria’s most economically successful state wants to go it alone, improving gas feedstock supply in a bid to woo private power project investors. Lagos State is attempting to rewrite the rules of Nigeria’s power sector by developing an independent power project (IPP) programme, based on both pipeline gas and liquefied natural gas (LNG), that would […]
The Bureau of Public Enterprises (BPE) at the weekend said the $3.2 billion Aluminium Smelting Company of Nigeria (ALSCON), located at Ikot Ibasi, Akwa Ibom State was set to recommence operations as the hitherto existing gas supply challenge that rocked the establishment had been largely resolved by the bureau and other relevant stakeholders. The Director-General […]
After two days of deliberations on human right to water by over 150 participants drawn from local, national and international civil society and grassroots groups representing a global movement committed to resisting corporate control of water, Nigerian government and governments across Africa, have been told to, among others, reject privatisation projects designed by the World […]
Volkswagen has signed a Memorandum of Understanding with the Government of Ethiopia for the development of an automotive industry including the establishment of an assembly plant in the country. Ethiopia has thus become the third country in the sub-Saharan Africa to sign a MoU with Volkswagen in the last six months. This is coming after […]
Socio-Economic Rights and Accountability Project (SERAP) has sued the Minister of Power, Works and Housing Mr Babatunde Fashola SAN over “failure to disclose specific names and details of contractors and companies that allegedly collected money for electricity projects but failed to execute any projects, starting from the return of democracy in 1999 to 2018.” In […]
The Nigerian leather industry has been projected to generate over $1 billion by 2025, the Nigeria Economic Summit Group (NESG) stated in its 2019 macro-economic outlook report. The macro-economic outlook report is an annual publication of NESG that reviews the Nigerian economy and provides policy options. Reporting on the theme, “Steering Nigeria through the inclusive […]
The Economist Intelligence Unit (EIU) Africa is insisting that Atiku Abubakar, the presidential candidate of the Peoples Democratic Party (PDP) will win the February 16 presidential election. On Friday, EIU Africa said the margin of victory is getting narrower as the election approaches, but Atiku and his political party will win the historic election. “#NigeriaDecides2019 […]
The federal government and the Academic Staff Union of Universities (ASUU) have again failed to reach a compromise to end the ongoing strike by university lecturers. Lecturers commenced strike on November after accusing the federal government of reneging on some of its promises. All attempts to make them return to the classroom have ended in […]