Naira Falls Further To N395/$
The naira on Monday depreciated further at the black market in spite of the commitment of the Central Bank of Nigeria to boost liquidity in the market, the News Agency of Nigeria reports. The naira lost two points to exchange at N395 to the dollar from N393 recorded on Friday, while the pound sterling and the Euro closed at N480 and N415, respectively.
Buhari Pledges Incentives For Manufacturers
The Federal Government will support manufacturers and investors who are willing to invest in Nigeria and transfer technology to Nigerians with necessary incentives, President Muhammadu Buhari has said. Buhari said this in a keynote address delivered at the maiden edition of the Technology and Innovation Expo, which commenced in Abuja on Monday.
CBN Pumps Fresh $240m Into FX Market, To Fund BDCs Weekly
The Central Bank of Nigeria (CBN) on Monday injected an additional $240 million into the foreign exchange (FX) market. A breakdown of the intervention by the central bank showed that $90 million was sold directly to banks to meet the requests for retail invisibles while $150 million was also offered to authorised FX dealers through the interbank wholesale auction window.
FG To Integrate SDGs With Economic Recovery Plan
The Federal Government on Monday said it would integrate the Sustainable Development Goals with the recently unveiled Economic Recovery and Growth Plan. The move will enable the government ensure that its plans are implemented in a manner that will support the SDGs.
Tanker Drivers Suspend Nationwide Strike
Petroleum Tanker Drivers (PTD), arm of the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG), yesterday suspended its nationwide strike following the intervention of the Federal Government. The reports of the suspension were confirmed by both the union and the officials of the Ministry of Labour and Employment.
‘Online Registration Of Unemployed Persons Begins Tomorrow’
The Federal Government will tomorrow commence the online registration of unemployed persons in the country as part of its quest to keep a robust data base for unemployed persons and job creation. The registration is in compliance with the third mandate of the National Directorate of Employment (NDE) which requires it “to obtain and maintain a data bank on employment and vacancies in the country with a view to acting as a clearing house to link job seekers with vacancies in collaboration with other government agencies.
Expo As Tool For Promoting Indigenous Technology
Countries like Japan, China and South Korea were adjudged as countries with inferior technology in the 1990s but with the turn of the century their technology products are seen as world class standards with the world queuing at their doorsteps to acquire the latest technology. At a media conference to launch the 2017 Science and Technology expo in Abuja, the Minister of Science and Technology, Dr Ogbonnaya Onu, said these countries were able to grow their brand and products through support from government and patronage by their citizens.
Aggrieved Investors Protest Against Trapping Of N23.7b In CBN
The aggrieved investors of Nospetco Oil & Gas Limited popularly known as ‘wonder bank’, whose over N23.7 billion funds are currently trapped at the Central Bank of Nigeria () has protested the delay in delivering judgment over the case at the Supreme Court. The group, which took their protest to the Television Continental (TVC) office in Lagos, pleaded with the apex court and all authorities concerned for expedition of their case so that the funds can quickly be released.
World Bank Approves N756 million For 81 Beneficiaries Of Nigerian Govt’s Youth Empowerment Scheme
The World Bank, under its Growth and Employment, GEM, project, has approved N756.3 million for disbursement to 81 young Nigerian innovators who participated in the 2016 Aso Villa Demo Day, AVDD. The AVDD is one of the economic empowerment initiatives of the present administration.
Buhari’s Change Of Tack In Nigeria Delta Boosts Oil Production
When militants in Nigeria’s southern Niger River delta started attacking oil installations, President Muhammadu Buhari promised to crush them by force. A year and $7 billion in lost oil exports later, his decision to switch tack by negotiating with the fighters seems to be working. All but one force majeure, a clause that gives oil producers the right to miss supply obligations, have been lifted since peace talks were initiated in November with militants.