1.
Restoration of the oil-devastated Ogoniland will begin in January next year, says the Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke. Speaking Tuesday in Geneva, Switzerland, during the follow-up meeting of technical working groups on environment restoration of Ogoniland, Alison-Madueke stressed that the Federal Government is in a hurry to begin the implementation of the report.
2. The Central Bank of Nigeria yesterday devalued the national currency, the Naira, as it moved the midpoint of the official window of the foreign exchange market from N155 to N168 to the one US Dollar.
This means that the Naira will exchange between N168 and N174 to the dollar at the foreign exchange market. Official devaluation of the Naira became inevitable as a result of reduction in government revenue from oil production and sales. The devaluation will increase the volume of Naira available to the federation account and to various levels of government to prosecute their local programmes.
3.
The President of the Lagos Chamber of Commerce and Industry, Remi Bello, has observed that the growth of the Small and Medium Enterprises in Nigeria remains stunted due to lack of access to finance. Bello, whose observation was contained in an address delivered on his behalf by the Vice President, LCCI, Mr. Soboma Ajumogobia, during a seminar and luncheon organised by the group in Lagos on Tuesday, noted that SMEs were critical in the transformation of the economies of countries worldwide.
4. The Federal Government will spend about N100bn in its fight against desertification in 11 frontline states in the North, President Goodluck Jonathan has said.
The states are Sokoto, Kebbi, Kano, Jigawa, Yobe, Bauchi, Borno, Gombe, Katsina, Adamawa and Zamfara. Jonathan, who inaugurated the Great Green Wall project in Kebbi State on Tuesday, said the government had disbursed N16bn to implement the scheme.
5. Banking sector credit to the private sector increased year-on-year to N17.789 trillion at the end of October 2014, compared to the N17.659 trillion it stood at by the end of September 2014.
The Central Bank of Nigeria (CBN) disclosed this in its latest money and credit statistics for October 2014. In addition, the Central Bank data also revealed that broad money (M2), which generally is made up of demand deposits at commercial banks and monies held in easily accessible accounts fell slightly year-on-year from N16.570 trillion as at September, to N16.323 trillion in October.
6. Data released by the Debt Management Office (DMO) has revealed that the
World Bank Group controls a total of 62 per cent of Nigeria’s public external debt at end-September this year. Analysis of the data also revealed that the international capital market (ICM), where the federal government raised $1billion Eurobond has 16 per cent.
7.
Lagos State Governor, Babatunde Raji Fashola (SAN), yesterday charged serving members of the National Youth Service Corps (NYSC) to live above board in discharging their electoral duties in 2015. He urged them to emulate the good records set by their predecessors and exhibit high sense of responsibility during the period.
8. The government of Osun State has declared Thursday, 27th November, 2014 a work-free day to commemorate the inauguration of
Governor Rauf Aregbesola. The Director, Bureau of Communication and Strategy, Office of the Governor, Mr. Semiu Okanlawon, said the public holiday was declared to allow people of the state partake in what he called the celebration of the “triumph of the Peoples’ Will.”
9. The Federal Ministry of Agriculture and Rural Development has warned Nigerians involved in the smuggling of frozen chicken to desist from doing so as it could bring back the Ebola Virus Disease (EVD) .
The warning was contained in a statement issued in Abuja by the Federal Department of Animal Production and Husbandry Services.
10.
The National Malaria Elimination Programme (NMEP) is set to distribute 2.7 million treated mosquito nets across the 25 local government areas of Niger State. The leader of the state support team of NMEP, Mrs. Adaeze Aidenagbon, disclosed this yesterday during a media orientation programme organised by Society for Family Health in Minna to acquaint the media of the knowledge of the consistent use of the Long Lasting Insecticide Nets (LLIN).
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This article was first published on 27th November 2014
Comments (1)
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