It is just for unemployed graduates. Links to related articles. Brent crude at highest since October , Iran sanctions drive buying Reuters Oct 3. Uche Uwaleke, noted that the market would witness enhanced liquidity during the period with the appreciation of the naira, adding that the lower inflation rate and the expected passage of the budget would also boost fluidity.
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Nigeria's rice in numbers - Imported nearly 17 million tonnes over the past five years - Imported 2. The lush green fields of the farm are an oasis among miles and miles of dusty red road and bushes.
Large metal silos carrying , tonnes of rice rise up from the ground, gleaming in the scorching afternoon sun. Manager Anil Nair, drives us around 4, hectares of the farm and mill.
Most of the farm hands have finished work for the day. They usually work in the rice paddies from Only a few women remain, standing ankle deep in the paddies, planting rice seedlings. This is one of the largest rice farms in Nigeria and although it grows 50, tonnes each year, that is still just a small fraction of the country's demand. Minister of Agriculture Audu Ogbeh says that the culture of importation has to stop. It's gone on for 40 years. And I assure you that it's our reckless policy of importation that's brought Nigeria down to where she is now.
Those who keep talking of imports either don't mean Nigeria well or simply refuse to recognise the fact that we can't afford the imports. Members of the Rice Farming Association of Nigeria say they can only access high-interest loans from commercial banks. We end up earning nothing," he says. Without the capital to mechanise, workers must do everything on his hectare farm by hand.
So now I'm using manual labour. It's not as effective as in the case of using a tractor and it's one of the reasons I can't expand. However, critics of government policy not only point to a lack of spending on agriculture, but also to an under-investment in the entire value-chain for rice, from field to cooking pot.
AgroNigeria's Managing Director Richard Mbaram says that achieving self-sufficiency in the next couple of years is merely a "pipe dream". It is cultivated and systematically sown. There is market opening and market access. Do we have that? We're very far back in terms of achieving that. The value of capital imported into Nigeria in fell by This was the lowest value since the series started in , which reflects the numerous economic challenges that afflicted Nigeria in The drop in capital inflow was caused by a decline in Foreign Portfolio Investments which declined by According to the National Bureau of Statistics, decline in portfolio investment was mainly due to base effects: The statistics office noted that the weakening of the naira may have had an impact on the inflow figures as a weaker naira means more can be purchased with each dollar, and therefore investment projects requiring naira payments cost less in dollar terms.
As foreign direct investors take a longer-term view, NBS in its report which was released yesterday said, Nigeria's recession and currency problems may carry less weight in investment decisions. FDI had dropped by By contrast, other investment increased between and , by 3. However, the latter growth rate was high in part due to a base effect as the value of FDI in the final quarter of was one of the lowest on record.
While other types increased relative to the previous quarter, Portfolio Investment fell by This was partly due to a spike in Portfolio Investment in the previous quarter, but nevertheless there was also a decline relative to the previous year, of While Nigeria is to bear 15 per cent of the cost of the project, China will shoulder 85 per cent for the first phase fast rail that will eventually terminate in Kano.
He, however, said the final signing by the Chinese government for the project to commence could only come after two weeks when the country's new year holiday would have been over. The Minister of Transportation, Rotimi Amaechi, had last Monday said the Federal Government decided to release the N72 billion as its counterpart funds in full was to ensure that there would be no delay in the implementation of the project. I think in the history of Nigeria, this is the first time that we are releasing counterpart funds in full so that there will be no delay," he had said.
The contract was awarded to the China Civil Engineering Construction Corporation last year by the Federal Government and both parties had signed an agreement to that effect.
The new Lagos-Ibadan rail, spanning It was rewarded to the same contractor by the President Goodluck Jonathan administration in for execution in six phases, starting with the Lagos-Ibadan stretch. It was learnt that the new rail line would be built on the corridor of the existing narrow gauge Lagos-Kano rail line and but it would accommodate only modern locomotives and other rolling stock meant for standard gauge rail for faster movement.
Usman said the adoption of Single Window would make Nigerian ports competitive in the international trade network and boost trade facilitation programme of the government. Speaking during her courtesy visit to the Comptroller General of Customs, Hameed Ali in Abuja yesterday, Usman said the synergy on Single Window would boost government revenue and promote public private partnership through the attraction of local and foreign direct investment.
She said government was aware of its responsibilities to create enabling business environment for businesses to thrive. She said the Federal Government was determined to make the ports efficient, safe, secure and productive. Usman said NPA and Customs are the two key agencies driving the logistic and financial portals on behalf of the government and that the duo have the responsibility of working together to build a common industry culture around the ports to achieving the right level in trade facilitation.
She said, "The goal of trade facilitation is to help trade across borders, import and export faster, cheaper and more predictably while ensuring its safety and security. In his response, Customs Comptroller General Hameed Ali said Usman's visit would lead to regular meetings and constant consultation between the two agencies. He said the Nigeria Customs Service would "do everything possible" in promoting the trade facilitation programme of government through collaboration with sister agencies and through robust initiatives to promote business at ports.
Ali also promised to collaborate with NPA to rejuvenate port operation and port security committees and ensure that the committees' meetings are attended by senior Customs officers. The country's unemployment rate rose from The rising rate of unemployment will enlarge existing risk of insecurity and militancy in major parts of the country and undermine government's efforts at fighting insurgency in the Northeast, uprisings in the Southeast and other serious crimes in parts of the country.
He added that unemployment rate has been rising consistently since He argues that the country's misery index has reached 50 per cent, meaning that more than half of Nigeria's more than million people "are miserable. Ohuabunwa explains that gross unemployment rate when factored with under-employment rate in the third quarter of last year for example, puts the unemployment rate at 50 per cent. Recession has worsened our condition. Therefore, social stability and job creation should be at the core of our economic policy.
Abiola Rasaq, an investment analyst with the UBA Capital, sees the challenge posed by youth unemployment differently. There is potential that unemployed youths can become a social force for civil unrest; we need to ensure that we make our youths productive," said Rasaq who cited the Tony Elumelu Foundation and the Dangote Foundation as exemplary initiatives driving entrepreneurship and job creation.
Laolu Akande, also said government's N-Power programme is already targeting unemployed graduates. It is just for unemployed graduates. And we have already reached another , non-graduates as micro credit is being made available to young people who want to develop their businesses. He also hinted of plans to create technology hubs in eight strategic centres across the country - one each in Lagos and Abuja, and the rest in the six geopolitical zones of the country. The number of unemployed in the labour force, the NBS said, increased by , persons just as the underemployment rate rose from The NBS also explained that underemployment could occur when a person works full time but is engaged in an activity that underutilises his skills, time and educational qualifications.
According to Ngwu, a co-curator of the Nigeria Economic Transformation Map, "Nigeria is constrained by many challenges such as limited infrastructure development, youth unemployment, insecurity, human capital development and issues of good governance.
The report stressed that addressing the "youth unemployment is not only important, but also most urgent given the link between unemployment and other social problems such as terrorism, kidnapping, armed robbery, which are unfortunately becoming more common in Nigeria.
The concessioning will allow for private sector management and trigger improved utilisation of the inland waterways for transportation and easy conveyance of goods. Mustapha, who was on a tour of the area offices under his jurisdiction, said the tour would expose the operations at various points in order to take the necessary action. At the Onitsha River Port, he was impressed with the state of the cargo handling equipment and other facilities. He therefore promised to accelerate the process of completion of the concession of the port.
However, he frowned at the slow pace of work at the Oguta River Port site and promised to get the National Assembly and Imo State government to support the process of completing the port. Mustapha was also delighted with the asset of NIWA at Warri Dockyard, which he said is enough to sustain the authority financially if properly managed.
He noted that the issue of inadequate manpower and obsolete equipment at the port would be addressed, adding that some operations at the Dockyard may be leased to the private sector. The NIWA boss also visited two jetties in Yenegoa, Bayelsa State, and promised the people of the state that the two jetties would be put into use very soon. The naira fell against the United States dollar at the parallel market to on Thursday, from on Wednesday.
The local currency has been under persistent pressure owing to scarcity of dollar in the economy. Economic and financial experts are divided over the outlook of the naira and most economists believe the local currency would continue to fall against the greenback unless the CBN reviewed its monetary and foreign exchange policy.
According to an economic expert, Mr. Henry Boyo, the currency monetary policy framework adopted by the CBN is flawed and there is an urgent need for the central bank to jettison it for a framework that can take the country off the current economic challenges. He stressed that unless this was done, the rising oil prices would not make the economy better. There is currently fierce competition among terminal operators for general cargoes amidst a lull in vehicle importation, investigation by our correspondent has revealed.
On a visit to the Tin Can Island Port on Wednesday, our correspondent observed that the lack of activities that was a common feature at the port in had not improved this year despite the Federal Government's latest efforts to direct traffic to the nation's ports by imposing a ban on vehicle importation through the land borders. It was gathered that because they were not taking delivery of vehicles through the ports, the terminal operators had turned to general cargoes to survive and remain in business.
Contrary to the situation two years ago when the ports were congested and there was no space to discharge cargoes, the terminals are currently empty. Also, there has been a drop in the level of general cargoes coming into the country, increasing competition among the terminal operators for the discharge of the few available cargoes.
In the wake of the recession that struck the economy last year and the dwindling fortunes of the country, the terminal operators were said to have lost over 75 per cent of their earnings as Nigerians cut down on importation of foreign goods because of the high naira to dollar exchange rate. According to the operators, the situation has been made worse by the hike in tariff on imported vehicles, which was imposed by the administration of former President Goodluck Jonathan as part of the Automotive Policy to encourage local production of vehicles.
Ascanio Russo, told our correspondent that the hike in tariff led to a drop in the volume of vehicles discharged at the firm's terminal from over 17, to 5, a month, adding that the company was forced to cut its staff strength due to low volume of business. According to him, there has been no improvement in the volume of vehicles coming into the ports following the ban on their importation through the land borders.
He suggested that the high tariff was likely to continue keeping importers away from the ports, while increasing smuggling. In a related development, Russo has declared that the current charges at the PTML are the lowest in the last 10 years ago. He said this in response to complaints of arbitrary charges at the ports by freight forwarders. Russo said the current terminal fees did not take into account the inflation figure in the country, which had increased to over 18 per cent. He said, "If one were to use inflation as reference, one would see that the level of charges of terminal operators is much lower than it used to be when we started this concession 10 years ago.
When one compares the current prices of items, they are higher than they were 10 years ago. In actual fact, we are collecting much less than we were collecting 10 years ago because we have not increased our prices in line with inflation or any other goods in this country.
We are not even able to recover the original price we paid and that is why some terminal operators are asking to be allowed to pay their concession fees in naira.
They cannot even access dollars anymore. I remember when I came here 12 years ago; to take a container out of the port, it would take 30 days to 35 days. Now, 50 per cent of the containers are going out within three to four days and the average time a container spends in our terminal is nine days.
The Federal Government's efforts to secure funds from international lenders to help haul the country out of recession have stalled because it has not submitted the required economic reform plans, according to one of the banks and sources close to the matter. The Federal Government has been in loan talks with the World Bank for a year.
It had told the lender it would present its proposed reforms to make the economy more resilient and attractive to investment by the end of December, according to Western diplomats and a Nigerian official who declined to be named as they are not authorised to speak publicly, Reuters reported. But this has not happened and as a result of the delay, which the government has not explained, the Washington-based bank has not been able to consider a loan yet, according to the sources.
The Minister of Finance, Mrs. Kemi Adeosun, and the World Bank declined to comment, Reuters reported. Salis Nai-nna, said he could not comment immediately on the matter when our correspondent contacted him on Tuesday night. He asked our correspondent to put the questions into writing and that comments would be available today Wednesday.
Abraham Nwankwo, did not pick calls or respond to a text message sent to his mobile telephone line. The country, which relies on oil revenue for most of its income, has been hit hard by the sharp fall in crude prices since and is struggling to drag itself out of its first recession in 25 years.
It is unclear why the government has not submitted reform plans to the international lenders. The funding deadlock could throw into doubt badly needed infrastructure projects planned for this year, including new roads and improvements to power infrastructure.
A financial source said the government was working with a consultancy firm on putting together a package of proposed reforms. The source, who declined to be named as the matter is confidential, did not elaborate. The Federal Government needs money to help plug a budget deficit of N2. It is unclear how much money Nigeria is seeking from the World Bank, or whether the lender was pushing for any specific economic reforms from the government.
The diplomatic sources, however, said the bank wanted to see how Nigeria planned to lower its dependence on oil revenues and boost investment, which has been hit by a high official exchange rate for the naira currency.
The Central Bank of Nigeria, backed by President Muhammadu Buhari, has kept the naira rate to the dollar at 40 per cent above the unofficial or parallel market rate, which has dried up dollar supplies on official channels.
The policy has also made investors reluctant to commit to new projects as they expect the central bank will have to devalue the naira eventually as oil production has been hit by an insurgency in the Niger Delta oil hub. The central bank has also imposed hard currency curbs, making impossible the import of almost goods, which has forced dozens of plants to close running out of spare parts.
Adesina told Reuters on Tuesday that the currency rate problem needed to be addressed by the government in its reform programme, which he said the AfDB was coordinating with the World Bank. Plans are in the pipeline by the Federal Government to deploy its anti-corruption mechanisms to significantly reduce the menace of fraudulent and criminal activities at the Nigerian ports.
This comes as the Nigerian Ports Authority NPA , is currently studying the various tariffs across ports in West Africa, with a view to determining how competitive Nigerian ports are compared to its neighbours. An October report identified corruption, which is closely linked to the inefficiencies at the ports, as costing Nigeria the loss of about N1trillion annually.
These corruptive tendencies also contribute in making the Nigerian ports among the most expensive in the world due to the legion of charges ports users are being subjected daily. If these multi-challenges are resolved, experts believe Nigeria will be on the path to becoming the maritime hub in West Africa, as being clamoured for. Usman, who is also a member of the Presidential Advisory Committee on Anti-Corruption, affirmed that the Authority will embark on strong anti-corruption measures in The move will further sanitise the sector and enhance smooth operations and clearance of cargo at the ports.
Many illegal payments that contribute to making Nigerian ports charges non-competitive in West African region would be eradicated and enhance the ease of doing business at the ports. The NPA boss, who visited major customs agents and freight forwarders last weekend, also assured that the Authority will interact more with stakeholders in , in order to keep abreast with happenings at the various ports.
To this end, she said the NPA would introduce quarterly stakeholders meetings to know what is on ground at the ports, and be better informed on the plight of operators.
Usman also acknowledged the need to block revenue leakages to make the ports more competitive in the area of appropriate pricing. To this end, she said there was the need for government to look into corruption at the ports and how to plug the leakages.
She further said the NPA is currently studying the tariff structures across ports in West and Central Africa, with a view to determining how competitive Nigerian ports are compared to its peers in these regions. Usman promised that in the event that Nigerian ports turn out to be more expensive, the agency will advise the Federal Government to reduce charges to enable more cargoes come into the nation's ports.
Usman also pledged stronger relationship with United Kingdom's companies operating in the Nigerian maritime sector, adding that NPA would welcome any assistance that would boost port efficiency from Britain, to fast track the ports development. Arkwright, who identified piracy as one of the major challenges in the country's maritime industry said that Britain would make significant contribution to enhance operational efficiency in the port.
He stressed the need to support NPA towards finding a lasting solution to the issue of piracy in the country's waters. Kidnappings at sea hit a year high in despite piracy attacks as a whole falling to their lowest level since , according to the International Maritime Bureau IMB. Last year saw a tripling in the number of seafarers kidnapped for ransom by pirates with a surge in such attacks in the Sulu Sea between East Malaysia and the Southern Philippines.
According to the IMB, pirates kidnapped 62 seafarers in in 15 separate incidents. West Africa remained a hotspot for kidnappings with 34 of the 62 kidnappings taking place in the Gulf of Guinea, but it is the sharp rise in such attacks off Malaysia and Philippines that has drawn particular concern.
There were12 crew members kidnapped from three vessels in the Sulu Sea in the last quarter of the year. Mukundan said shipowners should avoid high risk area. There was also an increased use of guns in attacks with 48 reports of the use of guns in compared to 33 in the previous year. Overall though the number of piracy attacks globally dropped to an 18 year low with attacks compared to in Nigeria's manufacturing sector performed dismally in as manufacturers faced several challenges which affected them negatively.
The PMI is an indicator of the economic health of the manufacturing sector. The index stood below 50 index point in the months of January to November which indicated decline in industrial production. The PMI is based on five major indicators - new orders, inventory levels, production, supplier deliveries and the employment environment.
Operators said that the sector was faced with myriads of challenges ranging from scarcity of foreign exchange, infrastructure deficit, high banking charges and lack of raw materials. About firms were shut, while some reduced their production, staff strength and remuneration of workers.
Frank Jacob, the President, Manufacturers Association of Nigeria MAN , said that industrial capacity utilisation hovered around 20 per cent during the year. A major challenge was the acute scarcity of foreign exchange which restricted the ability of manufacturers to import raw materials for production. To address the problem of foreign exchange scarcity, the CBN introduced a new foreign exchange system and some monetary controls in June Under the new flexible exchange rate system, the naira exchange rate to the dollar depreciated to the average of N in the official market and N in the parallel market during the year.
The CBN also banned 41 raw materials from getting foreign exchange for importation at the official segment of the foreign exchange market. MAN, however, said that the new foreign exchange system worsened the plight of manufacturers as it led to a cumulative loss of N billion for manufacturers in He said this meant a huge loss to manufacturers as the related goods had mostly been sold before the commencement of the new exchange rate system.
Odunayo said that the exchange rate loss of N billion reflected in their accounts and led to factory closures, unemployment and loss of investments. According to him, the exchange rate losses required additional working capital to shore up cash differences of between N and N To further address the foreign exchange crisis, the CBN, on August 22, directed banks to allocate 60 per cent of their foreign exchange sales to manufacturers for procurement of raw materials, plants and machineries.
In spite of this directive, the problem of foreign exchange scarcity persisted. Hamma Kwajaffa, the Director-General, Nigerian Textile Manufacturers Association NTMA , said that the textile industry nearly went into extinction due to inability to access foreign exchange for critical raw materials. Nnamdi Okafor, the Managing Director, May and Baker, said the inability of manufacturers to access foreign exchange through the interbank affected industrial production and contributed to inflation.
Erisco Foods Limited, an indigenous tomato paste manufacturer, relocated its million dollars tomato paste processing plant to China due to the same problem. Erisco Foods had a production capacity of , metric tons of tomato paste annually and had 22 brands with over 2, workers in Nigeria.
Eric Umeofia, the Chief Executive Officer, Erisco Foods, said that the company relocated to friendlier business environment since it lost over N3. Muda Yusuf, the Director-General, Lagos Chamber of Commerce and Industry LCCI , said the inability of manufacturers to access foreign exchange at the interbank market impeded growth in the real sector.
He urged the Federal Government to ensure more liquidity in the foreign exchange market to restore investors' confidence in the economy. Industry experts also urged the CBN to review its policy on the 41 items restricted from the official foreign exchange market as it had stifled production and forced many firms out of business. They urged the apex bank to redirect its policies towards stimulating the economy rather than tightening money supply.
They said that monetary and fiscal policies should be coordinated for economic revival and growth. The experts also called for review of some monetary and fiscal policies that have hindered the growth of the manufacturing sector. The Federal Government, in a bid to promote development in critical sectors of the economy, has approved a reduction in the import duties of items in various sectors of the economy. The approval was given by President Muhammadu Buhari as part of the fiscal policy measures of the Federal Government for the country.
Kemi Adeosun, while communicating the approval through a circular obtained by our correspondent in Abuja on Wednesday, said the move was in line with the provisions of the Economic Community of West African States' Common External Tariff. It read in part, "This is to confirm that His Excellency, Mr. President, has approved the fiscal policy measures made up of the supplementary protection measures for implementation together with the ECOWAS CET with effect from 17th of October, Consequently, all transactions prior to the effective date of this circular shall be subjected to the tariff rates applicable before the coming into effect of this fiscal policy measures.
However, the tariffs on three items contained in the import adjustment tax list were reviewed upwards. For the national list consisting of 91 products, the circular stipulated that a downward review was approved for 89 items in order to encourage development in the real sector of the economy. The items in the national list whose import duties were reduced from 10 per cent to five per cent are milk and cream; tea; fats of sheep or goat; malt extract; tomatoes prepared or preserved by vinegar; under natured ethyl alcohol for medical, pharmaceutical or scientific purpose; petroleum oils and oils obtained from bitumen minerals other than crude.
Others are hypochlorites; synthetic organic colouring matter; grease for treatment of textile materials; prepared glues and adhesives; activated carbon; picking preparations for metal surfaces; organic composite solvents and thinners; mixes alkylbenzenes; and industrial monocarboxylic fatty acids.
In the same vein, the government also approved a reduction from 10 per cent to five per cent for tubes, pipes, hoses, sheets, foil, tape, polyethylene, paper and paper board, yarn, synthetic staple fibres, semi-finished products of iron or non-alloy steel, stranded wire ropes, and completely knocked down or unassembled for the assembly industry.
For items such as automatic circuit breakers, switches, lamp-holders, electrical apparatus for switching or protecting electrical circuits, the Federal Government gave an approval for the reduction of their import duties from 20 per cent to 10 per cent. For machineries and equipment used in sectors such as agriculture, cement, hospitality, power, iron and steel, solid minerals, textile and aviation, the government, according to the circular, approved a zero import duty.
Before the approval, the import duties for machineries and equipment used in these sector were put at five per cent. The government also banned the importation of live or dead birds, waters, liquid dietary supplements and medicament such as paracetamol tablets and syrup, chloroquine tablets and syrup, among others.
To view, please use this link: Nigerians are expected to spend as much as N9. The apex bank data also revealed that the country spends about N3. The document also projects that the country would begin to see a significant reduction in the level of importation from N9. The Acting Director, Trade and Exchange Department, CBN, Woritka Gotring, said the huge preference for imported items especially rice, wheat, fish and sugar by many Nigerians if left unchecked could worsen the economic recession currently facing the country.
Gotring stated this while responding to questions after speaking recently at a forum on the challenges of foreign exchange management in Nigeria under economic recession. He said the depletion of the country's external reserves was largely caused by the huge demand for foreign exchange, adding that this was a major reason a lot of actions were taken in that direction by the apex bank in recent times.
Gotring said while the economy was going through tough times owing to the decline in foreign exchange inflows, the problem could be better managed with patronage of made in Nigeria products. He said, "Foreign exchange rate is one of the most important means through which a country's relative level of economic health is determined. It is evident that the economy is going through tough times with declining inflows and continuous demand pressure for foreign exchange arising from high import bill.
He said if not for the resilience shown by the informal sector where a lot of people were engaged in various economic activities, it would have been difficult to manage the economic crisis. He said despite the fact that a lot of people in the informal sector were employed in one form of economic activity or the other; the infrastructure gap in the country was limiting the potential of the sector.
In order to enable the country to conserve its foreign exchange, he called for policy consistency that would encourage capital flow and promote local production, fiscal discipline, enhancement of local manufacturing capacity and import substitution.
Gotring also called for increased investment in agriculture, mining and solid minerals, and infrastructure in order to lower the cost of doing business. The license was handed over to the Project Director of the Zone, Mr.
Gbenga Kuye in Abuja on Thursday. This is going to be a great partnership to the benefit of Nigeria," he said. The Maritime Africa Economic City will be developed on 1, hectares of land with over 6 kilometres of quay wall, including a container terminal, roll-on-roll-off RORO terminal, general cargo terminals, oil service centre and refined products import terminals.
It will also include a power plant, oil refinery, industrial park, warehousing and inland container depot functions as well. The Zone is connected to Lagos by the Lagos-Badagry Expressway, which is currently being upgraded and expanded by the Lagos State Government as well as the Porto Novo Creek, allowing for the barging of cargo between the existing port system of Lagos and the new facility.
A rail line will also be developed in the future to connect the new Free Trade Zone for even more seamless transit of goods.
Akinwunmi Ambode said the Badagry Free Zone and Mega Port project would be a major turning point that would go a long way to bring about global growth to Nigerian waters and by extension the nation's economy. The Governor said the project would also complement the emergence of Lagos as the fifth largest economy in Africa. The Governor, while lauding the investors for staying the course with the project, which is expected to generate hundreds of thousands of direct and indirect jobs upon completion, pledged his government's commitment to ensuring the interests of the host communities alongside a sustainable regeneration and urban renewal of the area.
Also, speaking in support of the project, Minister of Transportation, Mr. Rotimi Amaechi said the project will boost Foreign Direct Investment in the country. The Minister of Information, Alhaji Lai Mohammed said the approval shows that Nigeria is still a preferred investment destination in Africa despite the challenges it is currently facing.
Babatunde Fashola, while thanking President Muhammadu Buhari for granting the approval, said, "There are bigger vessels now being built across the world that require larger depths and drafts to berth. Now some of our competitors on the continent like Djibouti are building bigger ports, so if we don't build this port we risk becoming uncompetitive and we risk a threat to our maritime hub status in the sense that we may become a transshipment port instead of a port of original destination.
With only a few days into , maritime operators including seaport operators, clearing agents and all stakeholders are unanimous in their assessment that the outgoing year has been the most challenging and one that will linger in their mind for a long time to come.
They attributed these challenges to many of what they described as Federal Government's unfavourable policies, a development that saw the seaports, which used to contribute a large chunk of Nigeria's non-oil revenue becoming less active. This left government almost financially stranded, with less capacity to invest in infrastructure, create more jobs, address security, including fighting insurgency, and funding other activities that define good governance.
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Future of Alaska oil check program weighs on governor's race. Red Sox hope bullpen woes don't doom playoff chances. My guess is that the Fed will be nervous about the pace of the rate adjustment, and the White House will be unhappy about the higher USD.
Don't be surprised if the Prez sends out a tweet about the strong USD very shortly. Also sanctions on Iran have created a temporary oil shortage and that will start to be felt in energy prices globally.
Policy actions have consequences. Reply Crude Mtl JP Powell knows that Powell: More chances it will close around 1. We're very happy with where the economy is; unemployment is lowest in 20 years; inflation is right at target level - We're working hard to sustain economic expansion; expansion can continue for quite some time - US economy is remarkably positive - Expansion can continue for quite some time - Phillips curve may be resting but it's not gone away; expect to see continued gradual growth in wages - Source TradeTheNews.
Please feel free to post your opinions and any comments. It forces a view and hopefully that leads to profitable trades. High-Low-Close data for more than a dozen currency pairs for over seventeen years of data in an Excel spreadsheet format.
Including gv's Amazing Trader signals down bias as I read it. The eurozone becomes a joke. Currently trading collective is just sparing as there is little conviction to thrust massively one way or the other. Nevertheless, I like these reports because they are calculated on a similar basis more or less simultaneously for many individual economies. I usually compare the manufacturing series, even in Service economies, because it is tends to be more sensitive to My question is why?
We must be looking at different charts. Reply Crude dc CB Retail Forex Brokerage Changing! Are you looking for your first broker or do you need of a new one?