FBN Capital Limited has declared that Nigerian banks cannot fund the $8 billion yearly power needs alone and thus called for the support of institutional and foreign investors to fund the huge resources needed to drive various ongoing infrastructure projects, for the next 10 years.

I am going to do the usual quick tour of the world economy. I am going to start with the U.S. In the U.S., private demand continues to be strong. On the assumption that fiscal accidents are avoided, which is the underlying assumption of our forecast, recovery should strengthen. Growth will be higher next year than it is this year. It is, therefore, time to make plans for exit from both quantitative easing and zero policy rates, although it is not time yet to implement these plans.

The Pension Reform Act (PRA) was introduced to solve a critical problem, but has done more than that. The PRA Act of 2004, was enacted to introduce the Contributory Pension System (CPS) which was designed to correct the shortcomings of the Define Benefits Scheme (DBS).

The challenge of determining the right price for new issues has been identified as the major factor hindering companies from raising fresh capital through Initial Public Offerings (IPOs) or public offers.

World Bank Group President, Jim Yong Kim, in Washington at the ongoing IMF/World Bank Group annual general meetings announced that the World Bank has set an interim target to reduce global poverty to 9 percent in 2020, which, if achieved, would mark the first time the rate has fallen into the single digit.