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    Government partners private companies to mine abandoned iron ore in Oti Region

    Manufacture of petroleum products push PPI to 31.2% in April

    Nigeria begins processes to join Ghana-Côte d’Ivoire Cocoa Initiative

    Victor Yaw Asante, FBNBank Ghana MD

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    Policy rate likely to be increased to tame inflation – Databank CEO

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    BoG must be innovative in dealing with rise in PPI – AGI

    Government partners private companies to mine abandoned iron ore in Oti Region

    Cedi depreciation pushes Ghana’s debt to over GH¢390 bn in April; 78% of GDP

    Manufacture of petroleum products push PPI to 31.2% in April

    Togbe Afede XIV urges BoG to introduce measures to deal with rising inflation

    SEC and West Africa Securities Regulators Association to hold 2nd edition of WACMaC

    GEA/Mastercard Foundation Young Africa Works supports 3,000 Beneficiaries with Start-up Kits

    Akufo-Addo worried over impact of fertiliser shortage on poultry industry

    Nigeria begins processes to join Ghana-Côte d’Ivoire Cocoa Initiative

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    Government partners private companies to mine abandoned iron ore in Oti Region

    Manufacture of petroleum products push PPI to 31.2% in April

    Nigeria begins processes to join Ghana-Côte d’Ivoire Cocoa Initiative

    Victor Yaw Asante, FBNBank Ghana MD

    Banks will continue to innovate to meet customers’ expectations – FBNBank’s MD

    6th CEO’s Summit pushes for ease of doing business law to boost economic growth

    Policy rate likely to be increased to tame inflation – Databank CEO

    Banking Consultant bemoans continuous charging of unfair fees by banks

    Chamber of IPPs disappointed over ECG’s tariff increase request

    A comprehensive storage strategy will deal with post – harvest losses & inflation – CSIR

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    Government to invest heavily in internet safety – Ursula pledges

    Ho Node Hub rebrands as Node Eight

    Elon Musk strikes deal to buy Twitter for $44bn

    Block chain’s success will depend on supportive policy environment – Prof. Quaynor

    1.5% E-Levy rate will negatively impact GH¢6.9 billion target – Prof. Quartey

    Transactions to be affected by E-levy

    Bethniel Finance emerges winner in Innovation Challenge Program

    Taxing of non-resident e-commerce entities in Ghana could push prices up – Technology Consultant

    BoG cautions against fraudulent money-doubling scheme ‘BitCash Currency Exchange’

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    Kyle Kelhofer appointed as IFC Senior Country Manager for Benin, Ghana, Liberia, Sierra Leone, and Togo

    Greater, more diverse participation in global trade is key to achieving Africa’s economic transformation – World Bank

    Seth Terkper advises against e-levy; urges government to run to IMF

    AfCFTA members conclude negotiations on rules of origin to enhance free trade

    Implement strategies to sustain increased consumer preference for digital payments – Bawumia

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    President of Cote d’Ivoire Alassane Ouattara meets Eni’s CEO Claudio Descalzi

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Nigeria spends billions to pull country out of recession-Buhari

bycitibusinessnews
October 3, 2016
in Africa, Top Stories, West Africa
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Nigeria has spent 720.5 billion naira ($2.4 billion) on capital expenditure this year to help drag Africa’s biggest economy out of recession, President Muhammadu Buhari said on Saturday.

“I believe that this recession will not last,” Buhari said in a televised speech marking the country’s independence day.

“Several hundreds of thousands of (unemployed) workers will be re-engaged in the next few months as our public works programme gains momentum.”

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Buhari also said the government has been negotiating to end militant attacks on oil and gas facilities in the Niger Delta, the country’s oil hub, but would not be intimidated by armed groups.

He said oil production had temporarily dropped to less than one million barrels a day, down from 2.2 million bpd, due to militant attacks, but he did not say how much current output was.

Buhari also reiterated the government wanted to repair the country’s four refineries to end costly fuel imports.

He said the naira exchange rate to the dollar would stabilise, after dropping to record lows due to a “critical” shortage of hard currency amid low oil prices. He did not elaborate.

–

Credit: All Africa

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