In its efforts to ensure proper rewards to pensioners of the FCT administration, who have served the ministry to its maximum capacity, Permanent Secretary, of the Federal Capital Territory, Dr. Babatope Ajakaiye has said that the new leadership is poised to give better services to pensioners who are in the employment pay roll of capital city. Dr. Ajakaiye made the disclosure in Abuja, while inaugurating a high-powered Ministerial Committee on Pension Matters. The Permanent Secretary was however quick to mention that the decision to inaugurate a Committee on pension matters emanated from the Minister, Malam Muhammad Musa Bello. According to…
Author: Pride Team
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Petroleum Technology Association of Nigeria (PETAN) has advised the Federal Government to allow the private sector run the country’s refineries. Mr Bank-Anthony Okoroafor, chairman of PETAN who gave the advice in Lagos said government should roll out a policy framework that would drive business activities in the downstream sector. According to him, Refinery business is a business on its own; governments do not run such businesses. It was good at the initial stage for government to kick-start such investments and be able to build capacity. Speaking further, Okoroafor said Nigerian government or any government for that matter has no capacity…
It was another bearish week for investors in the Nigerian equities market as the market remained southwards despite renewed interest in notable banking counters. Some traders believe last week’s performance was probably in response to potential delisting of Nigeria from MSCI index. At the close of trades, the NSE All-Share Index and market capitalisation depreciated by 2.40 per cent to close the week at 24,719.27 and N8.503 trillion respectively. Similarly, all other Indices finished lower during the week, with the exception of the NSE Premium Index, NSE ASeM Index, NSE Banking Index, NSE Insurance Index and the NSE Pension Index…
President of Lagos Chamber of Commerce and Industry (LCCI), Chief Mrs.Nike Akande has advised government to urgently explore alternative models of power provision which focuses on diversification of energy sources and decentralization of power supply channels in the country. Akande also lamented high dependence on gas pipelines from the Niger Delta which is fraught by high vulnerability risks which the economy and the citizens can no longer bear. She proposed the need for the review of the current framework/model with a view to finding a sustainable solution to the current challenges in the sector. According to her, The Lagos Chamber…
South Africa may lower its estimate for corn production this season for a third time to the lowest since 2006 because of damage from the worst drought in more than a century, a survey showed. Local growers will probably produce 7 million metric tons this year, according to a median estimate of nine analysts in a Bloomberg survey. That’s 0.9 percent less than last month’s forecast of 7.07 million tons by the Crop Estimates Committee and would also be 30 percent less than the 9.96 million tons produced in 2015. The range was 6.5 million tons and 7.07 million tons.…
South African inflation slows for the first time in seven months to 6.3 percent in March as fuel prices fell. The worst drought in more than a century is driving up food costs, adding to pressure on consumer prices caused by the rand’s 25 percent fall against the dollar in 2015. The Reserve Bank’s Monetary Policy Committee increased its benchmark repurchase rate four times since July to 7 percent and has said inflation will only return to its 3 percent to 6 percent target range in the final quarter of next year. Given the Reserve Bank’s inflation forecast and “hawkish…
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