Latest from factual, authoritative and accessible economic magazine, the Economic Confidential. You can also join us on the Facebook http://www.facebook.com/economicmagazine and Linkedin: http://www.linkedin.com/in/economicconfidential also Twitter : http://twitter.com/economicng
Real Ownership of Indigenous Oil Blocks Revealed
Investigations also revealed that even among indigenous oil operators, northern shareholders/directors do not account/own 83 per cent of local oil output, as Enang's list left out several oil blocks that had been awarded over the years to Nigerian companies and failed to include oil concessions awarded from 1999 to date.A breakdown of oil leases granted operators showed that the total number of Oil Mining Leases (OMLs) in operation by December ending 2012 was 109, while Oil Prospecting Leases (OPLs) stood at 92. Read: http://economicconfidential.net/new/financial/facts-a-figures/1280-real-ownership-of-indigenous-oil-blocks-revealed
Hamman Tukur: From Revenue Mobilisation to Electricity Transmission
... To Generate 10,000 MW in 10months
To resolve the logjam, the administration has turned to tested and trusted power engineer, Hamman Tukur. He has just been sworn in to head the supervisory board of Transmission Company of Nigeria (TCN) given out to Manitoba Hydro International of Canada to manage. His appointment, Economic Confidential was told, is deliberate because of his antecedent as a go-getter in various institutions he had worked especially in the academia, electricity company, Petroleum Ministry and Revenue agency. Read: http://economicconfidential.net/new/profile/1276-hamman-tukur-from-revenue-mobilisation-to-electricity-transmission
On Okonjo-Iweala and Biafranization of Public Offices
For those of us who still respect the Hon Minister of Finance and Economic Development, we strongly believe she should dissociate herself from current allegations of 'biafranization' of top public offices in Nigeria. We are in democratic government where policy issues should not be done in dictatorial manner of 'we-are-now-in-power'. Read: http://economicconfidential.net/new/features/1250-still-on-okonjo-iweala-over-controversial-appointments
Nigeria Realised $900m from Export of Cocoa in 2012
The Minister of Trade and Investment, Olusegun Aganga has disclosed that Nigeria realised about $900m from the export of cocoa and cocoa products in 2012. Read: http://economicconfidential.net/new/news/national-news/1266-nigeria-realised-900m-from-export-of-cocoa-and-cocoa-products-in-2012
How Northerners Corner the Oil Blocks
There should be caution in the definition and assignment of functions to the Minister because the need may arise in the future to split the functions and powers of the Ministry under the Petroleum Industry to 2 or 3 Ministers, even for gas, so that amendment of the Act may not then be necessary before it can be affected. Read: http://economicconfidential.net/new/features/1257-how-northerners-corner-the-oil-blocks
MDGs to Reduce Maternal Mortality
The Federal Government has adopted an initial strategy known as Millennium Development Goals Acceleration Framework to reduce the maternal mortality rate in the country to the barest minimum.Read: http://economicconfidential.net/new/news/national-news/1268-mdgs-to-reduce-maternal-mortality
FG inaugurates boards of SON, CAC, NEPC, OGFZA
…warns against interference with agencies' day-to-day operations
The Federal Government, has inaugurated the boards of Standards Organisation of Nigeria (SON), Corporate Affairs Commission (CAC), Nigerian Export Promotion Council (NEPC) and the Oil and Gas Free Zone Authority (OGFZA) and warned that their appointment is on part-time basis only. As such, they are not expected to interfere or participate in the todayto-day running of their respective agencies. Read: http://economicconfidential.net/new/news/national-news/1268-mdgs-to-reduce-maternal-mortality
President Jonathan's Transformation Agenda and Diversifying
Jonathan's 5-year development plan 2011-2015, differs from others based on its being a well thought out policy document backed by a world class team of 28 technocrats under his personal Chairmanship and the coordination of the renowned Economist, Dr Ngozi Okonjo-Iweala. Read: http://economicconfidential.net/new/features/1248-president-jonathans-transformation-agenda-and-diversifying-nigerias-economy
Between Financialism and Progressive Capitalism
Increasingly, few elite will grow wealthy and powerful beyond decent measure. The middle class will atrophy into non-existence while the vast pool of our citizens will be shackled to a lifetime of misery and sour destitution. Gone will be the chance of broad prosperity and economic justice. Fleeing with it will be the hope of political democracy. Read: http://economicconfidential.net/new/features/1258-between-financialism-and-progressive-capitalism
How They Share Billions of Naira Monthly
The monthly meeting of the Federation Account Allocation Committee has continued to dole out billions of Naira, and iin some cases trillions to the tiers of Government: Federal, Slates and Local Councils. For the details of February allocation which was in three different allocations (Statutory and VAT N724bn; Excess Oil Revenue Account N3.5bn; and NNPC Refund N7.6bn) see the tables of disbursements: http://economicconfidential.net/new/financial/facts-a-figures
The Mama in the Aso Villa
In fact, while the likes of Reuben Abati and Doyin Okupe dithered for a while, before coming out to deny her hospitalisation, Mr. Ayo Osinlu, her personal media aide, vehemently rejected the ascription of ill health, to a woman he said was on a sightseeing trip to the insightful wonders of Deutschland. Read: http://economicconfidential.net/new/features/1256-a-mama-in-the-villa
Poverty Trap as Elite's Conspiracy
Nigerian elites are definitely in a very hot race of their lives to cover up their collective act of economic genocide that they have since the last five decades unleashed on an unprecedented scale on the citizenry by their unbridled quest to consistently corner our nation's commonwealth into their private pockets. Read: http://economicconfidential.net/new/features/1255-poverty-trap-as-elites-conspiracy
Nigeria approves rules for firms to issue Islamic bonds
Nigeria has approved new rules allowing companies to issue Islamic bonds, a move aimed at attracting Middle Eastern investors, Director General of Securities and Exchange Commission (SEC) told Reuters. Read: http://economicconfidential.net/new/news/national-news/1254-nigeria-approves-rules-for-firms-to-issue-islamic-bonds
Mitigating the Impacts of Global Warming on Biodiversity
The earth has hitherto witnessed series of atmospheric changes, among which is increasing global warming, which continues to wreak havoc among biological beings on the earth. Read: http://economicconfidential.net/new/features/1253-mitigating-the-impacts-of-global-warming-on-biodiversity
Analysis: Nigeria losing ground in changing oil world
The U.S. accounted for 35 percent of oil exports from Nigeria in 2011. But it imported around 40 percent less last year, taking purchases from Nigeria to their lowest in over 20 years, according to data from the Energy Information Administration (EIA), a U.S. government agency. Read: http://economicconfidential.net/new/features/1246-analysis-nigeria-losing-ground-in-changing-oil-world
Now, weapons of mass disruption
Also in the first two months of year 2013, the five largest financial institutions have suffered denial of service attack. The financial impacts of these attacks have not been established. The cyber attack reached a credo when big corporations started releasing statements that they have been hacked. As at date, Washington Post, New York Times, Wall Street Journal (WSJ), Apple, Microsoft, Twitter, Facebook have all released statements on the attempted hacking. The incessant attack forced the U.S. president to issue executive order on cyber security to strengthen and protect the basic infrastructure. Read: http://economicconfidential.net/new/features/1249-now-weapons-of-mass-disruption
Economy and Reserves: Between the truth and government clarifications
Despite Okonjo-Iweala's tripartite classification of reserves, the process of consolidating both the excess crude and CBN's component of reserves remains hazy in public consciousness, as the Excess Crude Account unnecessarily accommodates increasing budget deficits and national debt! Paradoxically, such avoidable deficits are ultimately funded by borrowing at costs, which exceed such risk-free sovereign debts elsewhere. Read: http://economicconfidential.net/new/features/1247-economy-and-reserves-between-the-truth-and-government-clarifications
How to Drastically Reduce Unemployment
Nigeria's Minister of National Planning had declared that unemployment rate for 2011 stood at 23.9%; which translates to almost 40 million citizens. Another figure from the National Bureau of Statistics had indicated that over 70% of Nigerians live on a US$1 a day or less. These figures have actually been rolling over for decades to reach the monumental level they are today. Read: http://economicconfidential.net/new/features/1272-how-to-drastically-reduce-unemployment
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Economic Confidential
Factual, Authoritative and Accesible
Nigeria's Economic Magazine
