Yushau A. Shuaib: [News Update] Drop in Federation Account: How They Share N446bn in Feb 2009 As Agagu Arrested

All these from the Economic Confidential www.economicconfidential.com

Facts and Figures

Federation Account: N446bn Shared in February 2009

For the first time in several months, the meeting of the Federation Account Allocation Committee of February 2009 did not share any revenue from the Excess Crude Account. The statutory allocation too for the month was short of expectation as the global oil price, a major source of revenue for the country dwindled. Some states in Nigeria lost billions of Naira compared to what they received in January 2009. The Economic Confidential magazine provides here the breakdown distribution of a total sum of N446 billion being the statutory and VAT allocations shared to all tiers of government at the February meeting... Read

Nigeria and the Global Financial Crisis

By Joel Nwokeoma

An depth analysis of the official pronouncements and statements of top government functionaries in Nigeria on the current global financial crisis reveals one of two things: Either a clear lack of understanding of the depth and ramifications of the issue at hand or an outright trivilisation of how to go about it, which, essentially, is a function of the former... Read

Nigeria: Bad Case Worsened by Global Economic Recession

By Peluola Adewale

The current crisis of capitalism is indeed pandemic. The contagion has caught up with the countries like Nigeria which had thought that by not being fully integrated into the world economy, they could at worst receive a mere scratch... Read

Suicidal Defence of the Naira

By Les Leba

In spite of the adverse and debilitating effects of Naira devaluation on inflation, our industries, employment and the welfare of our people, the Central Bank of Nigeria (CBN), brazenly declared that it deliberately devalued the naira from less than N120/$1 to the current rate of just below N150/$1. Some critics have observed that the CBN, by this act, declared a war on the welfare of Nigerians! The CBN on its own side countered that the deliberate devaluation was necessary to stabilize the economy and ensure that monthly naira allocations would remain in consonance with 2009 budget expectations... Read

Suswam's eaten words and the Dishonourables from Leviathan

By Norris Benedict

I am no fan of Mr. Gabriel Suswam, a former Member of the House of Representatives who is currently the Governor of the same Benue state he represented at the NASS between 1999 and 2007. As long as I am concerned he is among the clique of individuals who have held the country down to its current deplorable affliction. His very poor stint at positively impacting on our Power generation capacity when he had a rare chance informs my mindset... Read

Zimbabwe: Selling out Masses for Power Sharing

By Kola Ibrahim

While his reason for withdrawing from the elections were genuine, Tsvangirai, rather than start building grass root movement among the working and poor people, including the million of unemployed and the poor peasants, he preferred to hobnob with imperialism and its African lapdogs like the Nigeria's former civilian dictator, Olusegun Obasanjo... Read

Nigeria Acquires Space Technology for Disaster Management- NEMA

More in the Media Update on the homepage: www.economicconfidential.com

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*FG tackles budget deficit

*Budget's setback as FG stops $500m bond

*Importers of contraband granted concesion

*5 Nigerian Banks make top Global 500 List

*Yar'Adua- Why We Opted for Salary Cut