Nigeria, others spend $14 billion importing pharmaceutical products
Nigeria and other African countries currently spend at least $14 billion on importation of pharmaceutical products needed in the continent, owing to lack of capacity in local products, therefore exporting needed jobs to other countries, United Nation’s Economic Commission for Africa’s (ECA) Executive Secretary, Vera Songwe, has said. Songwe said Africa should stop exporting much-needed…
Depletion of Excess Crude Account fraudulent, says PDP
The Peoples Democratic Party (PDP) yesterday described revelation of furtive depletion of $1.68 billion from the Excess Crude Account (ECA) as a fraud...
FG releases N820 billion to MDAs from 2018 budget
Promises increase to N1.1 tri before end of year The Federal Government yesterday said it had released N820.57 billion to Ministries, Departments and Agencies (MDAs) as capital expenditure from 2018 budget. It also said it would soon increase it to N1.1 trillion before the end of the year. Minister of Finance, Mrs. Zainab Shamsuna Ahmed,…
‘Commitment to agric spending will aid market penetration under AfCFTA’
Africa’s leaders should honour their commitment to allocate 10 percent of their budgets to agriculture if the continent is to improve food security, reduce poverty and spur economic growth, says Economic Commission for Africa’s (ECA) Batanai Chikwene.
‘Why Nigeria, others should develop local drug manufacturing capacity’
There is an urgent need to develop the pharmaceutical sector in Africa to reduce the continent’s dependence on imported pharmaceutical and medical products, says United Nations Economic Commission for Africa’s Soteri Gatera.
Experts want ECA, 0.5% stabilisation fund brought under SWF
Financial experts have urged the Federal Government to collapse Excess Crude Account (ECA) and 0.5 per cent of Stabilisation Fund into Sovereign Wealth Fund (SWF). They made the call yesterday at a roundtable discussions on savings and stabilisation mechanism for Nigeria, organised by Shehu Yar’Adua Foundation and Nigeria Natural Resource Charter, in Abuja. According to…
‘Infrastructure development, panacea for economic growth’
The Pipeline Professionals Association of Nigeria (PLAN), and Energy & Corporate Africa (ECA), promoters of the Nigerian International Pipeline Technology and Security Conference...
Osinbajo, Gowon, Gambari, others canvass effective leadership for Africa
Eminent politicians and diplomats from Africa, yesterday, called for effective democratic values, accountability and sense of patriotism to overcome marginalisation and impunity in the continent.
Row over oil money to fight Boko Haram in Nigeria
Nigeria's opposition has rejected a plan to spend a billion dollars of oil money to fight the Boko Haram insurgency in the country's volatile northeast.
Nigeria’s oil licensing round rated 77th in global ranking
Licensing of oil blocks is the weakest link in Nigeria’s “value realisation” component, with a score of 17 out of 100 points in policy statement, which placed it 77th among 89 countries assessed, according to the 2017 Resource Governance Index...