Saraki: Godfather of Kwara Politics is Gone as Oil Moguls Fight Ribadu

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Saraki: Godfather of Kwara Politics is Gone
Tributes and more tributes pour in as former Senate leader and strongman of Kwara politics Dr. Abubakar Olusola Saraki breathed his last yesterday morning at his Lagos residence. A victim of cancer, he has since been buried according to Muslim rites. Read: http://economicconfidential.net/new/news/national-news/1173-abubakar-olusola-saraki-1933-2012-departure-of-a-strongman

Ribadu report: Oil moguls fight back

Following the brouhaha that followed President Goodluck Jonathan's New Year 2012's increment of the price of premium motor spirit (pms) from N65 to N141, the executive arm of government through the Minister of Petroleum Resources, Mrs. Deziani Alison Madueke established some committees including Petroleum Revenue Special Task Force ostensible aimed at instilling the culture of transparency and accountability in the oil industry. Read: http://economicconfidential.net/new/features/1142-ribadu-report-oil-moguls-fight-back

CBN to punish banks that reject voters' card as identification
Nigerians, especially those in the informal sector who normally have difficulty identifying themselves during banking transactions can now heave a sigh of relief with the central bank adopting voters' registration card as a formal form of identification. Read: http://economicconfidential.net/new/financial/monetary/1166-cbn-to-punish-banks-that-reject-voters-card-as-identification-

Again FIRS Exceeds Target, Generates N3.81trn
As it continues to improve its tempo of operations, the Federal Inland Revenue Service (FIRS), under its Acting Chairman and Chief Executive Officer, Alhaji Kabir Mashi, has once again exceed its set target, generating N3.81 trillion as revenue in nine months, beating its provisional target of N3.6 trillion. Read: http://economicconfidential.net/new/financial/tax-matters/1151-again-firs-exceeds-target-generates-n381trn

Cross Rivers Gets Political Solutions Over Oil Wells
A meeting on how to resolve the economic logjam created by the loss of 76 oil wells by Cross Rivers State was recently held at the Presidential Villa, Abuja and was presided over by Vice President Arc Mohammed Namadi Sambo. Read: http://economicconfidential.net/new/news/state-news/1164-cross-rivers-may-get-political-solutions-over-oil-wells

FG to boost non-oil export trade with ECOWAS countries
The Federal Government has said that it has put structures in place to boost trade between Nigeria and other member states of the Economic Community of West Africa (ECOWAS). Minister of Trade and Investment, Mr. Olusegun Aganga, said this during the opening ceremony of the 3rd Nigerian Non-Oil Export Conference Exhibition and Awards, in Abuja. Read: http://economicconfidential.net/new/news/national-news/1155-fg-to-boost-non-oil-export-trade-with-ecowas-countries-

Again, Ineptitude Kills 9 Miners in Zamfara
At least nine miners were confirmed dead when a mining pit collapsed on them at Dogon Daji village of Maru Local Government Area, Zamfara State, Nigeria. Unfortunately, the dead are among the hordes who take advantage of the chaotic mining sector in the country to engage in illegal mining activities. Read: http://economicconfidential.net/new/news/state-news/1163-again-ineptitude-kills-9-miners-in-zamfara

Ajimobi promises discount on lands to UK investors
Governor Abiola Ajimobi of Oyo State has promised at least 80 per cent discount on lands for investors in the agriculture sector, as an incentive to bringing them to the state. Read: http://economicconfidential.net/new/news/state-news/1161-ajimobi-promises-discount-on-lands-to-uk-investors-

Kwara to create 16 more parastatals
As part of efforts to energise the workings of the government with a view to meeting the ever increasing demands of the people, the Kwara State Government is poised to create 16 more boards of parastatals in the state. The state Governor, Dr. Abdulfatah Ahmed, disclosed this while receiving the Chairmen of Boards of Parastatals and Agencies of the state who paid him a visit at the Government House, Ilorin, the state capital. Read: http://economicconfidential.net/new/news/state-news/1158-kwara-to-create-16-more-parastatals-

Anambra to Revive Onitsha Mineral Water Industries
Anambra State Government has initiated measures to resuscitate the collapsed Nigeria Mineral Water Industries, Onitsha. The state Governor, Mr. Peter Obi disclosed this intention during an inspection tour of the facility in company of some top government officials and a team of foreign investors from South Africa. Read: http://economicconfidential.net/new/news/state-news/1159-anambra-to-revive-onitsha-mineral-water-industries-

FCT Area Councils Share N1.89bn
The Federal Capital Territory Area Councils Joint Account Allocation Committee (JAAC) has distributed a total sum of N1,894,400,916.45 among the six area councils being revenue and Subsidy Reinvestment and Empowerment Programme (SURE-P) allocations for the month of September. Read: http://economicconfidential.net/new/news/state-news/1160-fct-area-councils-share-n189bn-

To be black, to be African
Many Africans – especially Nigerians – who came to the US as toddlers or as teenagers, also tend to deny their African heritage. Many have gone on to anglicise their African names. It is also not uncommon to find those, whose parents and grandparents are Nigerians, say "my parents are Nigerians, but I am an American." It is as if to be a Nigerian is a sin. Read: http://economicconfidential.net/new/features/1144-to-be-black-to-be-african

Oil economy: Between Nigeria and Ghana
Much has been written in recent times on how Ghana has been getting it right on many fronts, notably politics and economy. The decision of the United States President Barack Obama to choose Ghana as one of the very few African countries he visited in 2009 was another strong statement on the place of Ghana in this region. Read: http://economicconfidential.net/new/features/1147-oil-economy-between-nigeria-and-ghana

Rising Anarchism And Its Socio-Economic Implications
The ongoing accelerating cases of deadly attacks involving kidnapping, rape, and bombing across the land have posed series of unbearable challenges to governments, individuals, security personnel, and other stakeholders as they are backpedalling political and socio-economic efforts toward the achievement of the Vision 20:20:20. Read: http://economicconfidential.net/new/features/1143-rising-anarchism-and-its-socio-economic-implications

Does Nigeria Need a Revenue Crisis?
I am thinking about a situation when crude oil prices do not exceed 40 US dollars a barrel and the demand for Nigeria's oil drops, partly because the US (a country that imports about 40 percent of Nigeria's crude oil) cuts down significantly on imports of the product from Nigeria as from other exporters of crude oil to that country. Read: http://economicconfidential.net/new/features/1141-does-nigeria-need-a-revenue-crisis

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Nigeria Gets $5bn FDI from US as Embassy Reduces Visa Waiting Time; FG, States Share N712bn in October

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Nigeria Receives $5 bn FDI from US as We Reduce Visa Waiting Time - Ambassador McCulley
Ambassador Terence P. McCulley, the United States Ambassador to Nigeria recently granted an interview to the Economic Confidential magazine in Abuja. He speaks on various economic, socio-political issues affecting Nigeria and USA and efforts being made to address challenges of securing US Visa by Nigerians. Read: http://economicconfidential.net/new/interviews/1140-nigeria-as-giant-of-africa-receives-5-billion-fdi-from-us--ambassador

EFCC arraigns eight fuel subsidy fraud suspects
The Economic and Financial Crimes Commission (EFCC) has arraigned another eight suspects in connection with part of a multi-billion dollar fuel subsidy scam.The eight suspects, working for five companies, were charged with involvement in about N3.7 billion ($23.57 million) worth of fraud. Read: http://economicconfidential.net/new/news/national-news/1128-efcc-arraigns-eight-fuel-subsidy-fraud-suspects

Canada's Confidence In Nigerian Economy Stronger -Envoy
The Canadian High Commissioner to Nigeria, Mr. Chris Cooter, has said that Canada is currently working on strategies aimed at increasing its foreign direct investment in Nigeria within the next few years due to enhanced confidence in the Nigerian economy. Read: http://economicconfidential.net/new/news/national-news/1154-canadas-confidence-in-nigerian-economy-stronger-envoy-

Rivers Loses 117 oil wells and N17bn
Rivers State government has raised the alarm over the loss of 117 oil wells and accused the Federal Government of paying N17bn Rivers money to Bayelsa. The money was expected to remain in a special account until the land/oil well dispute between the two states was resolved. Read: http://economicconfidential.net/new/news/state-news/1165-rivers-loses-117-oil-wells-and-n17bn

Kano Builds Governors' College, First Ladies' College
In its efforts to improve education in the state and encourage more children's enrolment in schools, Kano State Government has commissioned a new secondary school, known as the Governors' College and will soon commence the construction of its feminine counterpart to be christened First Ladies' College. Read: http://economicconfidential.net/new/news/state-news/1157-kano-builds-governors-college-first-ladies-college-

CAC Launches 24 Hours Service, 2 Hours Business Registration
Minister of Trade and investment, Mr. Olusegun Aganga has launched the Corporate Affairs Commission's (CAC) ``start to finish 24-hour incorporation service" at a ceremony in Lagos. The Minister, who also inaugurated the Lagos office of the agency at Alausa, said the step was part of government's efforts to improve investment climate in the country. Aganga, while lauding the achievement of 24-hours business registration said that the business registration target in the country was for two hours. Read: http://economicconfidential.net/new/news/state-news/1156-cac-launches-24-hours-service-2-hours-business-registration-

Libya: The tragedy of replacing a despot with tyrants
One year ago, Libya's Muammar Ghaddafi was killed in his hometown of Sirte. His death marked a new phase in the history of the country he had ruled for about 42 years. It was also a seeming end to the rebellion that sought, for nearly eight months, to consume his government and 'free' Libyans from his dictatorship. Today, Libya is in ruins and the prospect looks very grim. Read: http://economicconfidential.net/new/features/1150-libya-the-tragedy-of-replacing-a-despot-with-tyrants

Flood in the Eyes of the President
While most of the utterances and actions of President Jonathan over the flooding are commendable, the establishment of the Dangote's committee should have been in consonance with the enabling laws. As former Chairman of the governing council of NEMA, the President would recall that there is a provision envisaging such development in the law that established NEMA: Act 12 as amended by Act 50 of 1999. Read: http://economicconfidential.net/new/features/1145-flood-in-the-eyes-of-the-president

IMF's poisoned pill
President Goodluck Jonathan indicated in the 2013 budget proposal that "the benchmark price is based on a well-established econometric methodology of estimating oil price moving averages". Indeed, Dr. Okonjo-Iweala has similarly maintained that "benchmark pricing is not a thing you just sit down and concoct; they are based on some fundamental economic analysis. And we actually have a model we use to project Nigerian oil benchmark price over the past three years." Read: http://economicconfidential.net/new/features/1149-imfs-poisoned-pill

How To Create Credible Jobs in Nigeria
Nigeria is currently witnessing some of the worst scenarios of joblessness especially of her productive populace who come out of formal educational trainings without any sustainable hope of gaining credible and well paying jobs. Read: http://economicconfidential.net/new/features/1146-how-to-create-credible-jobs-in-nigeria

Of Sandy, Flooding And Disaster Management In Nigeria And The US
For the last month or so, Nigeria, this land that nature so spoils with love, has reeled from the effect of massive flooding. The flooding, a result of heavy rainfall, was not unexpected. NEMA, Nigeria's equivalent to America's heroic FEMA, actually surprised even itself by predicting correctly that there would be massive flooding this year. Read: http://economicconfidential.net/new/features/1148-of-sandy-flooding-and-disaster-management-in-nigeria-and-the-us

How FG, States Share N712bn in October 2012
FAAC: How They Share N658bn as Statutory Revenue and VAT Revenue in October 2012
The Economic Confidential magazine provides here the distribution of a total sum of N658billion being the statutory and VAT allocations shared to all tiers of government at the meeting of the monthly Federation Account Allocation Committee (FAAC) in October, 2012. From the total disbursement of nets after deductions, the highest recipients are from the oil producing states with Akwa Ibom N17.6bn, Rivers receiving N14.4bn, Delta N14.4bn and Bayelsa N9.8bn. The highest recipients from non-oil –producing states are Lagos N13.8bn and Kano N10.6bn. Read: http://www.economicconfidential.net/new/financial/facts-a-figures/1170-faac-how-they-share-n658bn-as-statutory-revenue-and-vat-revenue-in-october-2012

Excess Crude Account: How They Share N35.54bn in October 2012
The Economic Confidential magazine provides the detailed table of the distribution of N35, 549,235,691.43 from Excess Crude Saving Account being Sure-P for October, 2012. See the table: http://www.economicconfidential.net/new/financial/facts-a-figures/1169-excess-crude-account-how-they-share-n3554bn-in-october-2012

NNPC Refund: How They Share N7.6bn in October 2012
The Economic Confidential provides the table of distribution of N7,617,431,250.00 to States & Local Government Councils in October, 2012 being 14th refund made by the Nigeria National Petroleum Corporation (NNPC). Read: http://www.economicconfidential.net/new/financial/facts-a-figures/1172-nnpc-refund-how-they-share-n76bn-in-october-2012

Budget Differential: How They Share N13bn in October 2012
The Economic Confidential provides the table of the distribution of N13,007,902,267.90 to States and Local Government Councils in Nigeria from excess oil revenue account being difference between budget & actual in October, 2012. Read: http://www.economicconfidential.net/new/financial/facts-a-figures/1171-budget-differential-how-they-share-n13bn-in-october-2012

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