Yushau A. Shuaib: February 2009

Tuesday, February 10, 2009

[News Update] Nigeria's Banks, Stocks in Crises: Govt May Reacquire Shares

Latest from the Economic Confidential (www.economicconfidential.com)

... Government May Reacquire Shares

Dangerous signals are in the air in the Nigeria's financial sector unless urgent actions are taking to save the entire economy which presently relies on the activities of the banking and stock market. Already there is a strong feeling that the government may reacquire some of the banks any moment... Read

Special Fund: N200bn to be allocated to Agriculture- CBN

...Warns Against High Demands for Forex

The Central Bank of Nigeria has disclosed that a Special Fund of about N200bn would be allocated to the agricultural sector to boost food production while warning against the high demand for Foreign Exchange [FOREX] as a result of the current financial meltdown will spend doom for the Nigerian economy... Read

Manufacturers Reject High Lending Rates

Manufacturers operating in the Nigerian economic environment have kicked against high lending rates. The chairman, Economic Committee of the Manufacturers Association of Nigeria [MAN], Chief Clement A Olowokande frowned at the exorbitant lending rates in the country, stressing that it is anti production... Read

More States Go E-Payment with Remita

As the federal government e-payment regime for all her contractors and suppliers kicks off in January 2009, more states have join the league in the application of latest technology in business transaction, just as the Ogun State government celebrates its success story in e-payment with Remita... Read

Governor Sambo Presents N153.17bn Budget

…Endorsed by LGs' Chairmen

The Kaduna state government is to spend the sum of N153.170 billion for the 2009 fiscal year. The state governor, Arch. Mohammed Namadi Sambo made this known when he presented the budget proposal to the state House of Assembly... Read

Also: Full Detail of Budget 2009 of Kaduna State

More stories and Media Updates from the HomePage: www.economicconfidential.com

*FG Declines Bailout For Banks

*N822b flight led to Capital Market crisis

*N70bn textile fund for disbursement March

*Chevron demands $0.5 mn from villagers

*Lagos records N3.68tr GDP

*FG dumps OBJ's Heart of Africa project

*Oil prices rise, Iran seeks pact with Nigeria

*Economy tops agenda as Yar'Adua returns

*Minister defends $50m polio loan

*Interest Rates Soar as States borrow

*N500m Found in NERC's man's account

*FCT To Introduce Property Tax – Aliero

*Stock market loses N2.2tr in January

*Naira, Oil crash- Banks to lose N300bn

Economic Confidential

Factual, Authoritative and Accesible

Nigeria's Economic Magazine

www.economicconfidential.com

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Friday, February 06, 2009

[News Update] How FG, States, LGs Share N487bn in Jan 2009, N5.4tr in 2008

Latest from the Economic Confidential www.economicconfidential.com

How They Shared N487bn in January 2009

Statutory and VAT 396bn….Excess Crude Proceeds N91bn

As double allocations were made at the meeting of the Federation Account in January 2009, the Economic Confidential magazine provides here the distribution of a total sum of N487billion being the statutory and VAT allocations and disbursement from the Excess Crude Account. In statutory allocations alone, from the total disbursement of nets after deductions, the highest recipients are: Rivers State which receives N17.7bn, Akwa Ibom N112.6bn, Delta N9.1bn and Bayelsa N7.9bn. The lowest recipients are Gombe N2.97bn, Nasarawa N2.98bn, Ebonyi N2.99bn and Ekiti N3bn… Read

Sanusi Barkindo: The New Helmsman Man At NNPC

His appointment could not have come as a surprise to many players in the oil sector, considering his enviable progression in that sector. The newly appointed Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Mr. Mohammed Sanusi Barkindo's career in NNPC spanned more than 23 years…Read

Federation Account: FG, States, LGs Shared N5.4tr In 2008

The 36 States of the federation and the Federal Capital Territory were paid N1.992 trillion, which include statutory allocation of N1.396 trillion, budget augmentation of N398.618 billion and VAT of N198.057 billion... Read

Reviewing the Impact of FAAC in 2008

By Remi Babalola

We may not be able to describe this out-going year 2008 as a page-turner, but it certainly has kept Federation Account Allocation Committee engaged and actively involved in shaping the Nigerian Economic history... Read

INTERVIEW

We Are Revolutionizing the Agricultural Sector through Cooperatives

- Dr Abba Sayyadi Ruma, Minister of agriculture

The young looking Minister of Agriculture and Water Resources, Dr. Abba Sayyadi Ruma, was born on 13th March 1962. He holds a Bachelor of Arts degree in History from University of Sokoto and Masters in International Affairs and Diplomacy from Ahmadu Bello University, Zaria, capping them all with Ph.D in International Relations from University of Abuja. In this interview granted to the Economic Confidential, the minister stresses the importance of Cooperatives towards the revitalization of the Agricultural sector…Read

Also from Media Update from the HomePage www.economicconfidential.com:

*Fed Govt may reacquire banks' shares

*Interest Rates Soar as States borrow

*N500m Found in NERC's man's account

*26 jostle for PPPRA top job

*CBN plans to prevent banks' failure

*Court orders re-opening of Savannah Bank

*FCT To Introduce Property Tax – Aliero

*Reps to probe $125bn foreign reserve loss

*Lagos raises N58.9bn from capital market