[News Update] Jonathan's New Perm Secs and Ministries, Ojerinde now IAEA Boss

 

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Jonathan's New Perm Secs and Ministries: The Acting President, Commander-in-Chief of the Armed Forces of Nigeria, Dr. Goodluck Jonathan has approved the posting and redeployment of Federal Permanent Secretaries in Federal Ministries, Departments and Agencies. …See the List

 

Nigeria Demands a Review of World Bank Road Programmes: The Minister of Works, Housing and Urban Development, Dr. Hassan Muhammad Lawal, has urged for a review of the procedures and policies on various road projects under the World Bank Road Assisted Programmes … Read

 

Ojerinde Elected President of IAEA: Professor 'Dibu Ojerinde, the Registrar and Chief Executive of the Joint Admissions and Matriculation Board has been elected the President of the International Association for Educational Assessment; the world body for examination  and associated organizations. … Read

 

FG Disburses N329.706Bn from the Federation Account in February: The Three tiers of the Government in Nigeria have shared the total sum of N329.706 billion from the Federation Account for the month of January shared in February, 2010. … Read

 

Hospital Patients Can Now Report to Minister Directly: Henceforth, patients attending Federal Government Hospitals can now report or complain on the services directly to the Minister of Health through SMS. The Minister, Prof. Babatunde Osotimehin who disclosed this development at the launch of Patients' Feedback Platform with the generic shortcode 30500. … Read

 

Stakeholders Endorse Kano Economic Blueprint: Over 500 stakeholders drawn from all socio-political spheres unanimously endorsed an economic blueprint designed by Shekarau administration to reposition the economic and commercial sectors of the state. … Read

 

Nigeria to Have Reduced Emission Project: Nigeria will soon have the first project on Reduced Emissions from Deforestation and Degradation (REDD) in West Africa to be established in Cross Rivers State. The project has been registered as a Clean Development Mechanism (CDM). … Read

 

FG Inaugurates Oil and Gas Asset Protection Sub-Committee: The Federal Government has raised a 17-man Sub-Committee for the protection of oil and gas assets within the Niger Delta region, to consolidate the gains realised through its Amnesty programme. The Committee is being headed by the Minister of Petroleum Resources, Dr. Rilwanu Lukman. ... Read

 

Online Propaganda and Social media: The real bad news is that the next World War will not be fought with conventional armaments, but through the social media. The social media has uplifted propaganda, another tool of public relations to another level. Even in Nigeria, a country notorious for sectional infighting, parties in conflicts are using online platform to promote themselves and destroyed their opponents with malicious and some libellous campaigns. ...Read

 

Still on the Conditional Grants Scheme of MDGs in Nigeria: Funds for the Conditional Grants Scheme were first allocated under the 2007 budget, where they were focused on the health, water and power sectors. ...Read

FG Repositions Staff Housing Loans Board: The Federal Government has repositioned the Staff Housing Loans Board in order to make it more effective and achieve its mandate of assisting civil servants to own houses. ...Read

 

Banking Sector Reforms: CBN Gets Finance Ministry Full Backing: The Federal Ministry of Finance has expressed its full support for the ongoing banking sector reforms by the Central Bank of Nigeria (CBN) towards ensuring stability in the sector and the economy. ...Read

 

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[News Update] Yar'Adua Disburses $13bn ... Acting President Jonathan Receives New Envoys

 

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YarÁdua's Administration Disburses $13bn from Excess Crude Account.. Excess Crude Reduces to $6.2bn from $20bn: In its efforts to satisfy all the tiers of government, the administration of President Umaru Musa YarÁdua disbursed over US$13billion from Excess Crude Proceeds Account and increased allocations from the Federation Account in 2009… Read

Nigeria will be a Leading Economy in 10years – Minister of Planning: In an exclusive interview with the Economic confidential, Dr Shamsudeen Usman, Minister of National Planning said that Nigerians must believe in their capabilities as a people. "The problems of power failure, corruption and kidnapping are inherent no doubt. However, the fight against the cankerworm is on-going."There is a Vision, a rallying call for the citizens, regardless of ethnicity, economic status, or religion to unite and stand behind a common cause of placing the country firmly on a path of sustainable growth, and taking it to its rightful place in the comity of nations."… Read

Acting President Jonathan Receives 4 New Envoys … As Minister Invites Japan to Invest in Nigeria: The Nigeria's Vice President, Dr Goodluck Ebele Jonathan who is Acting President of the country, in the absence of his ailing boss, Umaru musa YarÁdua, has started to receive letters of credence from new envoys to Nigeria… Read

Power Failure: Nigeria to Go for Solar and Wind Energy: … Generates only 2,700 Mega Watts: The government has stated it is working towards the diversification of power generation beyond thermal and hydro power stations to include other sources of energy including coal, wind and solar, in order to improve power supply in the country… Read

Skye Bank Get new CEO Designate: The Board of Directors of Skye Bank Plc has appointed the Deputy Managing Director of the bank, Kehinde Durosinmi-Etti, as the Group Managing Director designate. He will succeed the incumbent Chief Executive Officer (CEO), Akinsola Akinfemiwa, who will retire at the end of July, following the Central Bank of Nigeria's directive… Read

Nigeria the Paradox: Nigeria the Paradox! So enviably endowed with great human and natural resources, but yet so beleaguered in its efforts to attain a liveable standard of socioeconomic development and political stability… Read

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[News Update] Nigeria's Oil Reserve to Dry in 2040 as FAAC shares N386bn in Jan 2010

 

Latest from the Authoritative, Factual and Accessible Economic Magazine Economic Confidential. Just visit www.economicconfidential.com

 

 

Nigeria's Oil Reserve to Dry in 2040: The oil reserves in the Niger Delta currently at 31 billion barrels will dry and disappear by the year 2040. Activities of militant groups in the region, ineptitude leadership and rapid depletion of ore, a major component for the exploration are contributory factors that may see the end of Nigeria's oil. Regulatory and monitoring organs in the country including the Nigeria National Petroleum Corporation (NNPC), Department of Petroleum Resources (DPR) and the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) are concerned about the development… Read

 

Federation Account:  How They Share N386bn in January 2010: As part of the two allocations at the meeting of the Federation Account Allocation Committee (FAAC) in January 2010, the Economic Confidential magazine provides here the distribution of a total sum of N386 billion being the Statutory and VAT allocations shared to all tiers of government. From the total disbursement of nets after deductions, the highest recipients are Akwa Ibom which received N10.08bn, Rivers N10.02bn, Lagos N9.1bn, Delta N8.96bn, Kano N6.4bn. The lowest recipients are…Read

N8.2bn Power Scam: Elumelu, Owan, Others in Courts: The Economic and Financial Crimes Commission (EFCC) has taken federal lawmakers, including Hon. Ndudi Elumelu and suspended Chairman of the Nigeria Electricity Regulatory Commission (NERC) Dr. Ransome Owan to Federal High Court, Abuja on frauds involving N5.2bn and N3bn respectively and on separate cases… Read

 

FEC Approves New Tax Policy: The Federal Executive Council (FEC) has approved a new National Tax Policy (NTP) proposed by the Federal Ministry of Finance, which seeks to provide a set of guideline, rules and modus operandi that will regulate Nigeria's tax system.The document will soon be presented to the national Economic Council (NEC)… Read

 

China Grants Nigeria $500M Loan for Kano-Lagos Railway: A special delegation from the Chinese government led by Deputy Chief Inspector of China EXIM Bank - Mr Yi Zong Hua, has promised that the team will work assiduously with its Nigerian counterpart towards ensuring that the Concessional loan to the tune of $500 million loan is drawdown to enable Kano-Lagos Railway project to take-off by February 2010…Read

 

BPE Extends Deadline for Proposals on NITEL/MTEL: The deadline for the submission of technical and financial proposals for the privatization of Nigerian Telecommunications Plc (NITEL) and its mobile arm, M-tel, has been extended from Friday, January 22, 2010 to Friday, February 5, 2010…Read

 

RE- Alleged Limit to Loan Approval and 5% Equity Holding in Banks: The CBN does not intend to limit the percentage of shareholding of investors in Nigerian banks as this will not only negate the provisions of the Banks and OtherFinancial Institutions Act, 1991 as amended but also the Nigerian Enterprises Promotion Act which encourages unfettered participation of both local and foreign investors in all Nigerian enterprises, including the banking sector…Read

 

A Call on International Bodies to Investigate Jos Violence

It is sad that yet another dastardly orgy of violence erupted in the erstwhile peaceful city of Jos, Plateau State causing the death of hundreds of Nigerians. Clashes between Christian and Muslim, indigenes and non-indigenes mobs reignited in Jos on Sunday morning, January 17, 2010. An exact toll is not known but overall more than one thousand (1000) people are thought to have died… Read

 

Features:

Read the following articles from this link: Features

Uzoma Okere: N100 Million Reward for Military Brutality

Thinking about New Decoration and Furnishing?

Reviewing Impacts of MDGs in Nigeria

Bogus Liberalisation and Capital Flight

Understanding Islamic Banking System

Anambra Soludo is Your Ijele

 

State News:

Read the following news from this link: States

Yobe to Get N400m for desert control in Yobe

Ekiti Warns Civil Servants Against Stealing

Kano to Establish N1bn fish market

Enugu Budgets N150mn for Rural Mobility

Nasarawa to construct 5-Star hotel

For more just visit and search:

Economic Confidential

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Nigeria's Economic Magazine

www.economicconfidential.com

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