Economics

Financial experts give recipe to shore up weak Nigerian currency

As Nigeria prepares to celebrate its 50th independence anniversary on Friday, financial experts have identified weak foreign reserves, increasing appetite for foreign consumptions, policy inconsistencies and up beat in political campaign spending as some of the reasons responsible for the slump in the value of the national currency, the Naira, against other major foreign currencies. […]

Society and Culture

The day oil was discovered in Nigeria

Chief Sunday Inengite remembers the day the foreigners who had come to his village in Nigeria’s Niger Delta struck oil. “They made us be happy and clap like fools, dance as if we were trained monkeys,” he says. Years later, the 74-year-old now looks back on his youthful enthusiasm with sour regret. Nigeria has become […]

Africa

Nigerian town Aba shuts down after school kidnap

Abuja — President Goodluck Jonathan last night ordered security forces to immediately step up their search for 15 children kidnapped in Abia State. The gunmen had hijacked a school bus carrying some children to school on Monday morning. The president has also described Governor Bukola Saraki and Alhaji Atiku Abubakar’s comments on zoning as statements […]

Africa

Nigeria needs 150, 000 megawatts

Nigeria needs a minimum of 150,000 megawatts of electricity in order to maximise productivity of the entire economy. Toyin Dawod, managing partner, Capital Investment Group, a California, United States-based diversified investment company, said to achieve this, the country would need to localise the generation of electricity to make it more efficient. Mr. Dawood said the […]

Weird

Nigeria: ‘Why Obasanjo Was denied entry to UN Building’

New York — Spokesman of the United Nations secretary-general Mr. Martin Nesirky has explained why former Nigerian president Olusegun Obasanjo was prevented from entering the premises of the world body. LEADERSHIP had exclusively reported on Friday that security operatives attached to the United Nations denied the former UN special envoy to DR Congo entrance into […]

Africa

Obama: Education key to economic success

ALBUQUERQUE, N.M. – Determined to energize dispirited Democrats, President Barack Obama told New Mexico voters on Tuesday that Republicans would reverse the progress he’s made on education reform and student aid. Addressing a small group in an Albuquerque family’s front yard, Obama shifted from his recent focus on the economy, which has run headlong into […]