Tag: Economy - Page 20 - African News Today

Nigeria: God Has Used Buhari and Some of Us to Make Nigeria Work – Ngige

9Sep

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Economy, News, Nigeria

Nigeria: God Has Used Buhari and Some of Us to Make Nigeria Work – Ngige

The Minister of Labour and Employment, Dr Chris Ngige on Sunday said Nigeria would have been in ruins if President Muhammadu Buhari was not elected to pilot the affairs of the country in 2015. Ngige who spoke with journalists in Onitsha, Anambra State, said the All Progressives Congress met the country in tatters when it took over from the Peoples Democratic Party about three years ago. He expressed surprised that Nigerians were not “clapping” for Buhari for reviving the economy of the country from what he called a state of comatose. Reminded that the general feeling was that Buhari had failed in areas of security and economy, Ngige said “Don’t just talk about that. We are wonderful with the economy; nobody, I mean no person would have done better than this present government in t...

Africa: Africans Deserve to Know Details of Deals their Leaders Sign with China

7Sep

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Africa, Economy, Nigeria

Africa: Africans Deserve to Know Details of Deals their Leaders Sign with China

China's footprints are all over the African continent, signing deals with many countries. However, the finer details of China-Africa loans are often kept secret. There are concerns that African countries are mortgaging their natural resources as collateral for the loans. The China-Africa deals ought to be transparent, and the public has the right to scrutinise the agreements. The news of China taking over Sri Lanka’s port and 15000 hectares of land on a 99 year lease recently raised questions and debate on the African continent about the kind of agreements African presidents are signing with China. The deal which has raised eyebrows was signed between two state firms, Sri Lanka Ports Authority (SLPA) and China Merchants Port Holdings. The South African parliament, led by the minority...

Opinion: Chris Ngige Fights for Oppressive Multinational ExxonMobil Instead of Oppressed Nigerians Workers Femi Aribisala.

4Sep

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Economy, Justice, News, Nigeria

Opinion: Chris Ngige Fights for Oppressive Multinational ExxonMobil Instead of Oppressed Nigerians Workers Femi Aribisala.

The message Chris Ngige delivered to ExxonMobil loud and clear is that it does not have to be subject to Nigerian laws. It can operate here in Nigeria as a law unto itself. Last week, I complained that 860 Nigerian workers at ExxonMobil (Nigeria) are being treated like orphans in Nigeria; their home-country. They have fought this injustice with fortitude and resilience in the courts for 18 long years, during which 171 of them have died along the way (one more since last week). In court, ExxonMobil denied that the workers are its employees. It claimed instead that they are “SPY Police” in the attempt to circumvent its lawful commitments to them. The Nigerian workers, on the other hand, maintained they are directly employed by ExxonMobil and, therefore, should be treated as ExxonMobil ...

Opinion: ExxonMobil Should Not be Allowed to Show Contempt for the Supreme Court of Nigeria – Femi Aribisala

28Aug

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Economy, Environment, Judiciary, News, Nigeria

Opinion: ExxonMobil Should Not be Allowed to Show Contempt for the Supreme Court of Nigeria – Femi Aribisala

To Chris Ngige, Minister of Labour and Productivity. EXXONMOBIL Should Not be Allowed to Show Contempt for the Supreme Court of Nigeria!! The message must be sent to ExxonMobil loud and clear that, as long as it is operating within the sovereignty of the Federal Republic of Nigeria, it must be subject to Nigerian laws. If you were to visit the Lagos headquarters of ExxonMobil (Nigeria) in Victoria Island, Lagos today, you would immediately notice that something strange is going on. You will find a number of people camped outside the building; sometimes chanting, sometimes dancing, sometimes shouting slogans. They are there 24/7; day and night. Surely, this is anomalous to the activities of an international oil company. You will also notice that there are placards hanging everywher...

18Jul

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Aviation, Economy, News, Nigeria

Nigeria: Nigeria Air Unveiled in London

The Minister of State for Aviation, Hadi Sirika today Wednesday the 18th of July unveiled the name and logo of the long awaited Nigerian carrier - Nigeria Air. This happened at the Farnborough International Airshow in London. Speaking at the event, the Minister noted that this was not a social service but a private sector driven initiative. According to him, the Federal Government will only own 5% of the new carrier. He said "This will be a National Carrier that is Private sector-led and driven. "It is a business, not a social service. The government will not be involved in running it or deciding who runs it. The investors will have full responsibility for this." He noted that though the announcement is coming later than initially planned, the Federal Government was committed t...

Breaking News: GTB To Pay Innoson’s N14Billion Judgment Debt Into An Interest Yielding Account – Supreme Court

7Jun

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Breaking News, Economy, Judiciary, News, Nigeria, Press Statement

Breaking News: GTB To Pay Innoson’s N14Billion Judgment Debt Into An Interest Yielding Account – Supreme Court

Today, 7th of June 2018, The Supreme Court struck out GTBank’s motion for stay of execution of the Enugu Court of Appeal Division’s order that GTBank pays over N6 Billion into an interest yielding account at the Court of Appeal. Innoson’s legal team which was led by Prof McCarthy Mbadugha ESQ told the Supreme Court that the Judgment debt which arose from excess and unlawful charges which GTB took from Innoson’s account now stood at over N14billion. The Supreme Court decision follows GTBanks motion for stay of execution at the Supreme Court when the Court of Appeal Enugu Division ruled on 9th Dec, 2014 that the appellant (GTB) is hereby ordered to pay the sum of Five Billion, Nine Hundred and thirty Six Million, One Hundred and Twenty Six Thousand, Two Hundred and Nineteen Naira, One K...

Nigeria: Subsidy on Petrol Hits N1.4tn per Year, Says FG

6Apr

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Corruption, Economy, Nigeria

Nigeria: Subsidy on Petrol Hits N1.4tn per Year, Says FG

A total of N1.4tn is now being spent annually by the Nigerian National Petroleum Corporation as subsidy on Premium Motor Spirit, popularly known as petrol, the Federal Government has said. Although it described the amount as under-recovery, the government stated that the national oil firm had been shouldering the huge financial burden, because the NNPC is the country’s supplier of last resort when it comes to the provision of petroleum products. The Minister of State for Petroleum Resources, Ibe Kachikwu, who disclosed this while speaking at a Liquefied Petroleum Gas workshop organised by the Federal Ministry of Petroleum Resources in Abuja on Thursday, also stated that the ministry planned to unveil an infrastructure rebirth map for the oil and gas sector in two months. On March ...

Nigeria: Why I Spoke Directly to Nigerian Leaders – Bill Gates

27Mar

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Economy, Education, News, Nigeria

Nigeria: Why I Spoke Directly to Nigerian Leaders – Bill Gates

The Co-Chair of the Bill and Melinda Gates Foundation, Mr. Bill Gates, again on Monday criticised the Federal Government’s Economic Recovery and Growth Plan. Gates, in an interview with the CNN, said that the Federal Government’s investment in education and health was not good enough. “While it may be easier to be polite, it’s more important to face facts so that you can make progress,” the philanthropist told a room of Nigeria’s government elite that included the President. In an exclusive television interview with the CNN, Gates said he spoke out to implore Nigerian politicians to focus on human capital and its large youth population. “The current quality and quantity of investment in this young generation in health and education just isn’t good enough. So, I was very direct,...

Nigeria: Ogbeh’s Claim on Rice False, Says Thailand Ambassador

8Mar

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Agriculture, Economy, News, Nigeria

Nigeria: Ogbeh’s Claim on Rice False, Says Thailand Ambassador

Ambassador of Thailand to Nigeria, Wattana Kunwongse, has denied the claim by Chief Audu Ogbeh, Minister of Agriculture, that rice mills are collapsing in the Asian country. On Friday, Ogbeh had claimed that Thailand said President Muhammadu Buhari’s policy on local rice sufficiency was responsible for the collapse of seven of its mills. He said: “Just like two weeks ago, the ambassador of Thailand came to my office and said to me that we have really dealt with them. “But I asked what did we do wrong and he said unemployment in Thailand was one of the lowest in the world, 1.2 per cent, it has gone up to four percent because seven giant rice mills have shut down because Nigeria’s import has fallen by 95 per cent on rice alone.” TheCable fact-checked the minister’s claims and fou...

Nigeria: Ikeja NBA Gives Lagos Seven-day Ultimatum to Reverse Land Use Charge

8Mar

By adminNo Comments

Economy, Nigeria

Nigeria: Ikeja NBA Gives Lagos Seven-day Ultimatum to Reverse Land Use Charge

The Nigerian Bar Association, Ikeja Branch, has given the Lagos State Government a seven-day ultimatum to reverse the recent hike in Land Use Charge. The Chairman, NBA Ikeja Branch, Mr. Adesina Ogunlana, said in a statement on Wednesday that the association was set to embark on a mass protest tagged: ‘Hell Tax Must Go’ against the new tax regime. Ogunlana stated that the NBA was strongly opposed to the LUC, which he described as an “excessive and arbitrary tax regime” calculated at turning Lagos State into a “toxic environment and a living hell” for the residents. He said the association would give Governor Akinwunmi Ambode till next Monday to retrace his steps on the LUC, failing which its members would hit the streets on Tuesday. According to him, the protest will be the asso...