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Consumer credit and mortgage financing can help fight corruption

Working in Nigeria is quite interesting and as well, very challenging. Public sector workers have to use their meagre salaries to fend for themselves, their immediate and extended families. In a country where the minimum wage is N18, 000 per month and the rate of inflation runs sky high, the average Nigerian public sector worker finds it challenging and begins to cut corners to meet up with his daily expenses. There is no efficient and subsidised transport system, no functional housing scheme to guarantee the workers’ welfare.

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Ministers

The kind of ministers Nigeria needs now

When President Muhmamadu Buhari was elected in April 2015, the expectation of Nigerians was that he was well prepared for the task ahead having attempted to occupy the high office three times and failed but succeeded at the fourth attempt. But to the surprise of many after taking office, it took the President and his party almost five solid months to nominate ministers for senate confirmation. The list expected was kind that will get the nod of majority of Nigerians.

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Buhari

Buhari talking tough on corruption; motion, no movement

AYOBAMIBA wrote and said “If Buhari is keen and sincere about fighting corruption, he should stop this unnecessary media hype of motion without movement and develop a solid anti corruption framework and bill and send it to the NASS on the brutal war against corruption. To me what APC and Buhari had been doing is akin to what I will call fondling and romancing corruption. APC and Buhari are rather in my opinion fondling and romancing corruption, praising and exalting corruption instead of engaging it in a brutal war.

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Market

Nigerian economy heading for recession

Investors across the world are losing their investments in stock and property owners are also suffering losses as a result of depreciation in currencies. With deepening gloom over demand growth from the world’s second-biggest oil user, and expectations for a significant build-up in surplus oil stocks this year, most oil traders are unwilling to stabilize crude oil prices. The market seems to be stuck in a relentless downward trend.

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Buhari

Buhari talking tough on corruption; motion, no movement

Nigeria is a country of ironies. Issues are not treated on merit. Every leader follows his fancy and Nigerians just tag along. There is no clear cut national policy or direction. Today, it is President Muhammed Buhari’s fancy that Nigerians are just kicking one another for. Buhari’s body and vocal language is war on corruption. As it now seems the APC and the President are making it look like everything about Nigeria is corruption.

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BUHARI MEETS APC GOVS/GOVS-ELECT—Front row from left: Govs Tanko Al-Makura (Nasarawa); AbdulFattah Ahmed (Kwara); Abdullahi Umaru Ganduje (Kano); National Chairman APC; Chief John Odigie Oyegun; Vice President-elect, Prof Yemi Osinbajo; President-Elect; Gen. Muhammadu Buhari; Gov. Rochas Okorocha (Imo); Speaker and Sokoto Governor Elect, Aminu Tambuwal; Kebbi Governor-Elect Senator Abubakar Bagaudu Atiku and Deputy Governor-Elect, Ngeri. Back row: Governor Kashim Shettima (Borno); Muhammad Bundow Jubrilla (Adamawa); Kaduna State Governor-Elect, Nasir El-Rufai; Governor Rauf Aregbesola (Osun); Governor Mohammad Abubakar (Bauchi); Plateau State Governor-Elect, Simon Lalong and former Governor of Ekiti State Dr. Kayode Fayemi when the President-Elect met APC governors and governors-elect, yesterday in Abuja to kick-start the new government as May 29 hand-over date approaches. Photo: Sunday Aghaeze.

The proverbial rains are here; no shelter for Governors

Nigerian governors have not stopped to amuse me. They are so empty in thought and imagination that whenever it pleases them, they speak tongue-in-cheek. They double-speak and dance naked to please their mentors or to get political advantage. Development in the country in recent weeks has shown how shameless these small men in agbada can be. They throw up figures they know are not correct to distract public attention from them.

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Economy

Nigerian economy heading towards recession

As crude oil prices dived lower threatening to dip below $40 a barrel for the first time since the financial crisis of 2008 and notching their longest losing streak since 1986, economies around the world are catching cold. Investors across the world are losing their investment in stock and property owners are also suffering losses as a result of depreciation in currencies. With deepening gloom over demand growth from the world’s second-biggest oil user, and expectations for a significant build-up in surplus oil stocks this year, most oil traders are unwilling to stabilize crude oil prices. The market seems to be stuck in a relentless downward trend.

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Dr. Emmanuel Ibe Kachikwu, GMD, NNPC

What has changed in NNPC?

President Muhammadu Buhari recently appointed a new Managing Director for the Nigerian National Petroleum Corporation, NNPC. The appointment drew applause as usual from ever-ready Nigerians to sing the praises of those in power. Many did not look closely at the process involved in the appointment and the implication for the future of NNPC and the Nigerian oil and gas industry. The new Managing Director, many have said, hit the ground running because on the first day of his assumption of office, he fired the existing executive directors and brought in new persons.

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Buhari

Trapped dollars in Nigeria, money nobody wants

For Nigerians who are old enough to remember the currency change in 1984, what is happening now is similar, though different in nature and context. In 1984, the Nigerian military government of Muhammadu Buhari in an attempt to legitimize its interruption of the democratic process through a military coup d’état directed the CBN to cause a change in the colours of the Nigerian currency. The exercise was designed to render the money alleged to have been stolen by Nigerian political leaders useless in their hands.

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President Muhammadu Buhari

Tough times ahead after elections

Behind the façade of stability, the rebalancing triggered by the price collapse has yet to run its course, and it might be overly optimistic to expect it to proceed smoothly. As a result of the above oil market scenario, the incoming government will have a herculean task running the country effectively. Many states will not be able to pay their bills, same with the Federal Government.

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Obama and Buhari

Lessons Buhari can learn from Obama about managing a tough economy

It is atypical for an American president to invite a nascent African head of state to the White House, especially less than one month after the latter’s inauguration. To some observers, therefore, US President Barack Obama’s invitation of his Nigerian counterpart, Muhammadu Buhari, for a White House parley scheduled for July 20 would seem to be an aberration and a surprise. But an analysis of both leaders’ circumstances suggests that such a meeting is a no-brainer.

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1000-naira-notes

Storm over NLNG dividends, Nigerian politicians are shameless

The recent controversy over dividend paid by the Nigeria Liquefied Natural Gas Company, NLNG, portrayed Nigerian politicians as neophytes who do not fit well into civilized political culture. In the wake of the controversy, each side of the divide — PDP and APC — sought to outdo each other by a holier-than-thou attitude. In a cultured and disciplined society, Nigerians should have seen beyond these smart alecs who parade themselves as political leaders.

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