“Economy shrank by 0.82% in 2012 – NBS”. PUNCH, February 19, 2013, p 27. The National Bureau of Statistics, NBS, one of the most efficient and least appreciated parastatals, in the country today, recently disclosed that “overall growth in real GDP in 2012 was 6.61 per cent, which is a decline from the 7.43 per cent recorded in 2011”. There ... Read More »
Institute for Economic and Peace, a global think-tank, has ranked Nigeria as the seventh country most affected by terrorism in 2011. The organisation’s first Global Terrorism Index meant to measure the impact of terrorism and the associated economic and social dimensions, was published last Tuesday. The index showed Nigeria ranking marginally better than Somalia (the only other sub-Saharan African country ... Read More »
The Nuhu Ribadu-led Petroleum Revenue Special Task Force has detailed how the Nigerian government and national oil company, Nigerian National Petroleum Corporation, treat huge oil revenues accruing to the federation as a reserve of money that could be used for illicit purposes without accountability. In its 178-page report, the committee revealed how oil money in the custody of the NNPC ... Read More »
ACTION Congress of Nigeria has described the failure of the Federal Government to prosecute the Senior Special Assistant to the President on Public Affairs, Dr. Doyin Okupe, for abandoning a N2.3bn contract by Benue State as an official endorsement of corruption. Value Trust Limited, a company owned by Okupe, was said to have abandoned the contract after collecting about N886m ... Read More »
SOME of the indicted oil marketers had started making refunds of fuel subsidy payment they got in error, the National Economic Council said on Thursday. At a post-Council meeting press briefing in Abuja, the Anambra State Governor, Mr. Peter Obi, said a report submitted to members by Minister of Finance, Dr. Ngozi Okonjo-Iweala, indicated that some of the indicted marketers ... Read More »
