Pass Bills That’ll Be Impactful On The Economy – Elumelu tells National Assembly

Chairman of UBA, Tony Elumelu, has called on the National Assembly to pass progressive bills that will impact positively on the economy, following Nigeria’s exit from recession.

He said, “We need the system to work by itself. We need to hold the National Assembly accountable.
“We need to encourage the National Assembly and hold them accountable. We need the National Assembly to help us pass progressive bills to help our country.”

Bag Of Rice Now Cost More Than Our Minimum Wage – NLC

Chairmen of the Nigeria Labour Congress (NLC) Anambra State beanch, Jerry Nnubia, lamented this morning over the economic situation of the country saying a bag of rice now cost more the N18,000 being paid to them as minimum wage.

Mobile Money Holds Huge Potential In Ghana

Mobile money started off in Ghana tottering on the brink of little hope it will gain popularity among the public. While the promoters, mainly the mobile telecom operators, touted its potential, especially drawing on Kenya’s huge success story with the service, critics maintained that the geo-economic and demographic differences between the two countries were poles apart for Kenya’s succes to be replicated in Ghana.

That notwithstanding, mobile money started with Airtel’s (then Zain) launch of Zap in February 2009 and later followed by MTN in the same year. As of 2012, the transaction value of Mobile money was GH¢171million.

Ghana Rated Best Place To Buy A Fairly Used-Cars At A Reduce Prize

Ghana has been rated as the most price-friendly country when it comes to buying a used-car in Africa, despite the high rate of import duties and an unstable currency.

The average price of a used-car in Ghana is US$17,654, making it cheaper than Senegal’s US$18,923, Congo’s US$25,093, Cameroon’s US$29,598 and Rwanda’s US$34,259.

Carmudi, an online vehicle market place with offices in about 20 countries worldwide, analysed about one thousand used-cars listings in order to find out how much consumers are spending on used vehicles globally.

Devalue Naira, IMF Urges Nigeria

1000 Naira Note

The IMF is pressing Nigeria to further devalue its currency amid uncertainty over the political and economic outlook for Africa’s biggest oil producer and economy a news agency has reported.

The report quoted Antoinette Sayeh, the International Monetary Fund’s Africa Director who had alleged that restrictions placed on 41 items access to foreign exchange was “quite detrimental saying that in Nigerians they “are already making it harder for the average person to buy milk,” at the IMF annual meeting that ended in Peru two weeks ago.

President Muhammadu Buhari To Run Oil Ministry

President Muhammadu Buhari has said he intends to remain in personal control of the oil ministry as he pursues an anti-corruption campaign.

He won elections in March partly on his tough stance on corruption.

He has vowed to trace and recover the “mind-boggling” sums of money that have been stolen from the oil sector.
Oil exports account for around 90% of Nigeria’s foreign currency earnings and because of low oil prices, the country faces tough economic challenges.