Tagged: government

Nigeria Govt Blacklists Firm, Revokes Licence For Allegedly Diverting Explosives

The Federal Government on Thursday blacklisted the Nigerian Development and Construction Company (NDCC), an importer and seller of explosives in Koko, Delta State, for allegedly diverting explosives. The Minister of Solid Minerals Development, Kayode Fayemi, who gave the blacklisting order said the company’s business premises should immediately be sealed off, in addition to the withdrawal of its explosive distribution licences. The action by the government followed the outcome of investigations by the office of the National Security Adviser (NSA), which revealed that the company was involved in...
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Government Must Protect, Patronize Local Firms To Succeed– Saraki

The President of the Senate, Bukola Saraki, on Monday said the government has a responsibility to ensure indigenous manufacturers thrive to rebuild the economy and put Nigerians to work. Mr. Saraki said this when he received a delegation from Innoson Motor Manufacturing Company, Nnewi, led by Innocent Chukwuma, the Chairman and founder of the company, in his office. He said government should use legislative actions and policy initiatives to protect the local industries as a deliberate way of reviving the economy. Based in Nnewi, Anambra State, Innoson Motors is the only Nigerian company manufacturing...
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Why APC Government Cannot Tackle Corruption- PDP

The Peoples Democratic Party (PDP) has said despite the “holier than thou” posture of the All Progressives Congress (APC)-led federal government in fighting corruption, there is incontrovertible evidence that grave corrupt practices are ongoing and allowed to fester by associates and cronies of government, including former and present APC governors and others who played major roles in financing election campaigns with ‘stolen state funds’. The party accused the administration of President Muhammadu Buhari of  creating a system that was neck deep in corruption, while the government hoodwinks...
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Too Much Boom Time Oil Savings Spent on State Governors- Okonjo-Iweala

Nigeria's finance minister said on Thursday that a significant portion of the billions of dollars drained from the oil savings account over the past two years was distributed to powerful governors instead of being saved for a rainy day.The central bank devalued the naira by 8 percent on Tuesday because it was running out of forex reserves with which to defend the currency. The Excess Crude Account (ECA) had around $9 billion in December 2012, but it has since fallen to around $4 billion, Finance Minister Ngozi Okonjo-Iweala noted in a speech to capital market authorities. Most of the falls occurred during a...
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