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Nigeria forex reserves hit more than 29-month high, now 41.12 bn USD

LAGOS, Sept 28 (Reuters) – Nigeria’s foreign exchange reserves rose to more than 29-month high of $41.12 billion by Sept. 26, and were up 7.16 percent month-on-month, the central bank’s latest figure showed on Friday. Africa’s top crude oil exporter’s forex reserves have not been as high since April 19, 2010, when they stood at … Continue reading

Photonews: NEMA Evacuates Flood Victims with Boats and Dinghies on the Niger, Benue and Tributaries

Contrary to insinuations from certain quarters in the Nigerian online social media community about insensitiveness of government agencies in the rescue efforts of flood victims, lots of  things were actually done by NEMA even at the risk of life to evacuate trapped flood victims, howbeit, under-reported. DATELINE: 25th September 2012 A technical team comprising officials of National … Continue reading

Nigeria: JP Morgan’s Index May Attract $1.5 Billion to Nigeria

[Thisday] JP Morgan Chase & Company, the biggest underwriter of emerging-market debt has predicted that the planned addition of Nigerian bonds to its benchmark indexes from October 1 may lure $1.5 billion to the country. The JP Morgan Government Bond Index-Emerging Markets (GBI-EM) indices are comprehensive emerging market debt benchmarks that track local currency bonds … Continue reading

Originally posted on powersectornigeria:
BY PETER OLOWA The productivity rate of the hotel and restaurant segment of Nigeria’s hospitality sector is set to grow beyond the 12 percent stagnation level recorded in the last three years. This new hope is being brought about by improved power supply, witnessed in the last three months, and which…

Meet The CEO Of Nigeria’s Sovereign Wealth Fund – Uche Orji

Originally posted on The newafricanpress:
Mr Uche Orji Tekedia: The Federal Government of Nigeria announced last week that Mr. Uche Orji is to be appointed as Managing Director and Chief Executive officer of the newly created Sovereign Wealth Fund (SWF). With the SWF aiming to secure funding for infrastructure and to protect the economy from…

As China’s wages climb, Mexico stands to win new manufacturing business

Originally posted on China Daily Mail:
Not long ago, Mexican factories couldn’t compete with the “China price,” the ridiculously low cost of production in the Asian nation. But sometime this year, with rock-bottom wages soaring in China, the average cost of factory labour in the two nations will be roughly the same. This is a…

Another Islamist Sect Surfaces In Kano, Threatens To Bomb Cool FM

Originally posted on The Nigerian Oracle:
A top security source in Kano has informed SaharaReporters that a group claiming to be an affiliate of Jama’atu Ahlis sunna Lida’awati wal ihad (popularly called Boko Haram) has threatened to bomb Cool FM 96.9, a radio station based in Kano, the capital of Kano State. The sect, which…

Ethiopian plans flights to Enugu

Originally posted on Aviation in Nigeria:
Ethiopian Airlines has expressed the intention to commence scheduled flights to Enugu Airport. The service would herald the beginning of international operations at the airport. The airline attempts to expand its operations in Nigeria by adding flights to Port Harcourt and Kano too: Tewolde Gebremariam CEO of the air…

Delta leaders warn agents of distraction

Originally posted on The newafricanpress:
· Hold town hall meeting in Lagos, Abuja, Port Harcourt The People’s Movement, a group of Deltans concerned with the rapid development of the state, Monday expressed confidence in the Dr. Emmanuel Uduaghan-led Peoples Democratic Party (PDP) administration. It also described Uduaghan as the most responsible and accountable governor in…

Official Release: President Jonathan’s First Year Achievements Vol 1

”Under the most daunting circumstances, President Goodluck Ebele Jonathan took over the leadership of the country in May 2010. The death of President Umaru Musa Yar’Adua that month led to the ascendancy of then Vice-President Jonathan at a time of considerable political tension in the land. A year later, he was elected President in what was … Continue reading

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