By Bekeme Masade
2014 saw the commencement of a steady decline in the value of the naira and the skyrocketing of the cost of goods. The Gross Domestic Product (GDP) prophets preached the gospel of emancipation from the hands of economic recession that besieged the nation since the first quarter 2016 and assured Nigerians that our dear economy would be restored in no time. While other nations were heading towards the path of sustainable development, hunger-stoked NigerRead More
Ever wondered why news about the positive growth of the Nigerian economy doesn’t positively affect you personally? Ever wondered why the common man finds it difficult to grasp the fact that although Nigeria has the largest economy by Gross Domestic Product (GDP) in Africa, it still doesn’t translate to improved quality of life for them?
The answer lies in the fact that GDP - which is the totality of goods and serviceRead More
Samsung Group, South Korean multinational is scaling down it operations in Nigeria, no thanks to the dwindling economic fortunes of the country, Nigeria CommunicationsWee has learnt.
Though the federal government claimed it was on top of the situation, companies are closing shops in large numbers.Nigeria CommunicationsWeek investigations revealed that Samsung’s plan to expand heavily into Nigeria with a manufacturing plant has been truncated by the economy.
Samsung has aRead More
Fidelity Bank Plc has sustained its efforts at touching lives and impacting communities with its Fidelity Helping Hands Project (FHHP)- its Corporate Social Responsibility (CSR) interventions.
A community in Northeast benefit from the bank’s corporate philanthropy initiative last week, when its employees donated hospital equipment and renovated a maternity and child welfare clinic in Kofaran, Bauchi State.
Managing Director and Chief Executive Officer, Nnamdi Okonkwo, unRead More
Nigeria’s domestic mining industry is still underdeveloped as it contributes only 0.3 per cent to the nation’s gross domestic product (GDP).
Ebhota Al-Amin, a staff of the federal ministry of mines and steel development, said this on Tuesday while speaking at the maiden edition of the national council on mining and mineral development (NCMMRD) organised by the ministry.
The programme, which held in Abuja, was themed ‘enhancing mineral resourcRead More
The Mandela Washington Fellowship is conducted as a merit-based open competition. After the deadline, all eligible applications will be reviewed by a selection panel. Chosen semifinalists will be interviewed by the U.S. embassies or consulates in their home countries. If selected for an interview, applicants must provide a copy of their passport (if available) or other government-issued photo identification to verify eligibility.
By Bekeme Masade
When the Federal Government of Nigeria embarked on the Economic Reforms and Governance Project (ERGP) in conjunction with the World Bank in 2004, one of its objectives was: Effective Management of Cash Assets through the Implementation of Treasury Single Account (TSA). This is a crucial element of monetary and budget management. The World Bank had recommended this TSA approach to Nigeria when it analysed the country’s spending and lending behaviRead More
Local content defined
A minimum level of local content is sometimes a requirement under trade laws when giving foreign companies the right to manufacture in a place. The Longman Business English Dictionary describes local content as when a foreign company makes products in a country, with the use of materials or parts that have been made in that country rather than imported ones. It also involves the development of local skills, technology, and use of local manpower anRead More
To ensure sustainability of various interventions in the real sector, local producers in Nigeria have challenged the Federal Government on the need to adopt indigenous policies in addressing socio-economic problems in the country.
Adopting the Tanzanian example, the manufacturers said similar challenges were addressed by the country deploying home-grown solutions.
Besides, the Manufacturers Association of Nigeria (MAN), also extolled the Central Bank of Nigeria’s (CBN&rsRead More
Simbi Kesiye Wabote, the Executive Secretary/Chief Executive Officer of the Nigerian Content Development Monitoring Board (NCDMB) is a man bubbling with ideas but challenged by paucity of funds, tough operating environment and other institutional factors that frustrate efficiency in the public sector.
However, the oil and gas professional with over two decades of cognate experience in engineering, supply chain, stakeholder management, local business development (Local ContRead More