All posts by Ottoabasi Abasiekong

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  $79 for Oil Benchmark Approved By National Assembly

  In its outlook for the 2013 budget year, the National Assembly has adopted the benchmark of $79 as the oil benchmark for the period 2013-2015 Medium Term Expenditure Framework (MTEF) and fiscal strategy paper. The House of...

  • Posted December 19, 2012
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  Inflation Soars To 12.3% In November, Driven By Higher Food Prices

  For Nigerians that may be wondering why the price of foodstuffs has experienced an astronomical progression, it has  been confirmed that the post flooding effect that adversely affected  food production in the country, constituted  a major factor...

  • Posted December 18, 2012
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  Imo LG Chairmen Want N13.7 billion Bond Investigated

  As a way of showing their dissatisfaction and unhappiness over the way the state public funds are managed, especially as regards the allocation for the local governments, ousted chairmen of the local governments under the auspices of...

  • Posted December 18, 2012
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  Reliance On Rice Importation Will Cost N23.4 trillion

  The Minister of Agriculture and Rural Development, Dr Akinwunmi Adesina, has disclosed that the Federal Government about $150 billion (N23.4 trillion) could be spent by 2050 to meet the demand of a  population that has an increasing...

  • Posted December 17, 2012
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  FG Sets Goal For 20% Broadband Capacity In 2013

  As part of its target of achieving global competitiveness in the international economy, the federal has set a 20% target of broadband penetration. A recent survey and analysis of broadband penetration in Africa showed that Rwanda is...

  • Posted December 17, 2012
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  Major Oil and Gas Projects Delay Explained by NNPC

  Despite being blamed by the International Oil Corporations operating in the country for delays in the takeoff of phenomenal and remarkable oil and gas projects that could launch the nation into another phase of economic boom, the...

  • Posted December 17, 2012
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  Nigeria Ranked World’s Seventh In Money Laundering

  The quest by the Federal Government to tackle corruption squarely received another challenge as a recent report from the U.S based Strategic Study and Advocacy Group the Global Financial Integrity recently rated Nigeria in the first 10...

  • Posted December 14, 2012
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  Nigeria Gets $250 million Loan from US to Boost Fertilizer Facility

  In a bid to assist Nigeria in expanding the capacity of its Agricultural sector, the United States of America has approved a loan worth $250 million through its strategic Overseas Private Investment Corporation (OPIC). The Spokesperson for...

  • Posted December 14, 2012
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  Nigeria Telcos Face N20 billion Interconnection Debt

  Key telecommunications operators are believed to be exposed to an interconnection debt of a whooping N20 billion, a development that poses a risk for the heavily subscribed sector in the Nation. The process of interconnection in the...

  • Posted December 14, 2012
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  MTN Plans $1.3 billion Upgrade For 2013

  South African telecommunications firm MTN is planning to improve its facilities nationwide investing about $1.3 billion for 2013. This is in a resolve to ensure that it maintains its capacity and leadership in the Nigerian mobile technology...

  • Posted December 13, 2012
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