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Finally Jega's INEC Gets N87bn Towards 2011 Elections
The Senators have finally approved a total sum of N87.72 billion for the Independent National Electoral Commission (INEC) towards preparation for next 2011 election. The approved figure indicated an increase of about N13 billion higher than the earlier request of N74 billion made by INEC but short of N1.87 billion from the N89.59 billion presented by the Presidency. READ
We never Borrow Money for Projects in Kano - Shekarau
Recently before officially declaring his intention to contest for the position of President of Nigeria through the All Nigerian Peoples Party (ANPP), the Economic Confidential was granted an exclusive interview by the Executive Governor of Kano State, Mallam Ibrahim Shekarau on national problems and how he addresses some them in his state including executing projects without borrowing money. READ
Lagos, Ogun have Oil Wells as RMAFC Denies Partiality over Oil Revenue
The Revenue Mobilisation and Fiscal Commission (RMAFC) has described the recent accusations and outburst against it by Governor of River State Chief Rotimi Amaechi as mere balderdash claiming that the governor had visited the Commission contrary to his claims and that Lagos and Ogun States have Oil Well. READ
Dependency on Oil Exposed Banks' Weaknesses
One of the banks rescued by the CBN had a loan book of about N900bn and 90% of the loan is non-performing, even with the intervention of Asset Management Corporation of Nigeria (AMCON) there will still be a vacuum of about N500bn, because these were loans without collaterals. N500bn of depositors' money given away without collateral! READ
Korea Donates Classrooms to States, Advises FG on Priority
The Korean government has donated 37 newly constructed classrooms to Nigeria's government through its special Department, Korea International Cooperation Agency (KOICA). The Korean Government has also approved and prepared the ground for the take-off of other big projects which are the construction of two comprehensive model schools of 25 classrooms each in Gombe and Adamawa states. READ
Crude Oil Production to be measured at Terminal
Realising the huge loss of revenue from crude oil production in Nigeria due to inaccurate metering systems, the Federal Government would engage officials of the Department of Weights and Measures from Ministry of Commerce to perform their duty by ensuring accurate record and measurement as well as volume of crude oil at various terminals. READ
VP Directs Immediate Clearance of All Power Project Containers at the Port
The Vice President, Arc Mohammed Namadi Sambo, has directed the Nigeria Customs Service to clear all containers concerning the National Integrated Power Project (NIPP) and other power equipment at various Ports in the country. READ
CBN Partners AGRA to Stimulate Agric Financing
The Central Bank of Nigeria,(CBN ) has signed a landmark agreement with the Alliance for a Green Revolution in Africa (AGRA) to develop a new innovative mechanism for unlocking billions of Naira of financing to serve the needs of all farmers, especially smallholder farmers, agro-processors, agribusinesses and input suppliers in the agricultural value chain. AGRA is an Africa based organization working in partnership with governments, agricultural research organizations, farmers, private sector, civil society and other rural development stakeholders to significantly and sustainably improve the productivity and incomes of resource poor farmers in Africa. READ
Haiti: 6 Months After the Earthquake
Its over six months now after the earthquake that ripped through Haiti on 12th January 2010 this year, normal activities have gradually returned to the Caribbean country. The people are gradually putting behind them the devastating shocks suffered from the disaster and looking forward to a better life. However, from the streets to the buildings that are still standing and dots of camps used by the displaced population bellies realities of the time. READ
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