The theme of the AGM “The Role of the Legislature in a Growing Economy- Reference to the Manufacturing Sector” was timely. The Chairman of the Branch, Chief Godfrey C. Ekenma set the tone for the meeting. In his address, he urged government at all levels to provide cheap and long term funds for its bonafide members. Ekenma also called on governments to grow manufacturing in order to create jobs and wisely improve their Internally Generated Revenue (IGR).
When Nigerian women were still groping in the kitchen because of ignorance and lack of empowerment, Chief Bola Kuforiji – Olubi was one of the first women to pride themselves in the banking profession which was an exclusive for domain for men in the country.
From north to south and east to west, maize is planted in Nigeria. It is one of the staple foods; it is either boiled and eaten or processed into flour for several food uses. Aside being a food crop, maize is also a raw material for industrial production. This dual nature of the crop puts it in high demand.
Two types of maize are planted in the country, the yellow and white varieties and due to its rate of adaptability; it is not a seasonal product.
In order to curtail incidences of tax evasion, the federal government says it has contracted an international tax firm to assist the Federal Inland Revenue Service, FIRS, in strengthening tax collection in the non-oil sector.
Under the arrangement, additional N75 billion is expected t be raked into the FG’s revenue within the 2014 fiscal year. The increase will be through tightening the lapses in tax collection. Also, the drive will increase the FIRS revenue target which is put at N2.2 trillion in 2014 by another N75 billion, making it a total of N2.95 trillion.
Locally produced goods hardly catch the fancy of most Nigerians due to what the market observers blame on the passion for foreign goods.
Interestingly in recent times, rising campaign for Nigerian made items is reversing the situation. In this vein, series of exhibitions are being organized by the stakeholders in the country.
For instance, the made -in-Aba fair which will begins this week, it is expected to show case leather works, steel fabrication and garment home made goods.
According to a recent report by the World Bank, various reform programmes initiated and implemented by the Federal Government in the different sectors of the economy indicate significantly improvement in the country’s business regulatory environment, in the last one year.
The report is coming after a review by the International Finance Corporation, IFC, which also revealed that between June 2012 and June 2013, Nigeria moved closer to global best practices in business regulations than previously, particularly since 2009.
Human life in this modern day is unimaginable without electricity as it lights houses, buildings, streets, provides domestic and industrial heat, and powers most equipment used in homes, offices and machinery in factories. It is also believed that improving access to electricity worldwide is critical to alleviating poverty.
For participants in the Nigeria-UNDP Project on Mainstreaming SMC, the successful completion of the one year project has boosted the country’s journey towards sound management of chemicals. Elated national coordinator of the project, Mr. Hakeem Bello Adediran, in an interview with journalists noted that sound management of chemicals is pivotal to sustainable development.
The decision of the Pan-African bank, Ecobank’s chairman, Kolapo Lawson to resign his position is believed to be a step to retain customer’s confidence in the institution.
The bank announced the departure of chairman Kolapo Lawson last week in an attempt to restore confidence after a series of blows to its reputation. Hitherto, Ecobank has often been touted as a pan-African success story due to its strong growth and aggressive expansion strategy, making it attractive to foreign investors.
According to the African Economic Outlook 2013, which is produced annually by the African Development Bank, AfDB, the OECD Development Centre, the Economic Commission for Africa, ECA, and the UN Development Programme, UNDP, the continent’s economic outlook for 2013 and 2014 is promising.
This confirms its healthy resilience to internal and external shocks and its role as a growth pole in an ailing global economy. Africa’s economy is projected to grow by 4.8 per cent in 2013 and accelerate further to 5.3 per cent in 2014.