Eastern Ports Rehabilitation: FG awards Escravos Channel dredging, breakwater reconstruction
As part of efforts to revitalize the Eastern ports, the Federal Government, through the Nigerian Ports Authority (NPA), has awarded the contract for the reconstruction of the dilapidated Escravos Channel at Warri Port, Delta State. Confirming the development, Mr. Ikechukwu Oyenmakara, General Manager of Corporate and Strategic Communication at the Nigerian Ports Authority, stated that […]
2015: Events that shaped IMC industry
With 2015 coming to an end in few days, it is imperative to take a glimpse at the events that shaped the year in the Integrated Marketing Communication, IMC, industry which have gone a long way in determining the course of the industry. As an election year, it slowed down activities in various sectors of the economy without exception of the IMC industry.
Banks earn N10.3bn interest on idle cash placement
Banks earned N10.3 billion as interest on idle cash placed as deposit with the Central Bank of Nigeria (CBN) in 12 months from October 2014 to September 2015. This is however 62 percent lower than the N27.25 billion earned in the preceding period from October 2013 to September 2014. Banks access the Standing Lending Facility (SLF) of the CBN to borrow while they access the Standing Deposit Facility (SDF) to place their idle cash as deposit with the CBN.
Yuletide: Prices of food items, transportation fares skyrocket
As Nigerians are celebrating this festive period, the prices of food items in the market are skyrocketing beyond the reach of many Nigerians, especially the low income earners and individuals depending on small scale businesses to provide for their families.
Only reckless governors have difficulty paying N18,000 minimum wage — Onovo
At a time the Nigerian Labour Congress (NLC) is agitating for a review of the National Minimum Act of 2010 that raised the minimum wage from N5,500 to N18,000, some state governors are insisting that they can no longer pay the minimum wage owing to the poor state of the economy. Engr. Martin Onovo, presidential candidate of the Na tional Conscience Party (NCP) in the last general elections, bares his mind on the raging issue.
The puzzle in the 2016 budget
In 1984, when Buhari presented his first budget as the military Head of State, the price of crude oil was sliding downwards from an unprecedented $38 per barrel towards $15 per barrel. In December 2015 as he presents his third annual budget, the nation is once again facing a grim situation. As Buhari announced to the National Assembly and the global community, “By June 2014, oil prices averaged $112 per barrel. But, as at today, the price is under $39 per barrel.” With the budget based on $38 per barrel as the price of crude oil for 2016, the margin of error is very thin indeed. There ends the similarity.
