Today’s Business Day Newspaper Headlines Wednesday 30th January 2019

Today’s Business Day Newspaper Headlines, Wednesday 30th January 2019

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4 years after, Buhari fails to curb corruption
Wed, 30 Jan 2019
The anti-corruption crusade of the incumbent administration appears to be failing, leaving Nigeria stuck in the repressive throes of corruption and its resulting effects that deter economic prosperity. In less than a month, two data-driven reports, including one by Nigeria’s Bureau of Statistics (NBS), have posted a simple finding: corruption continues to thrive under the []
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BUY OR SELL OLD AND NEW CARS, PARTS, CAR MATERIALS AS CAR MART NG LAUNCH IN NIGERIA

High production cost hurts local dairy makers
Wed, 30 Jan 2019
Nigeria’s ambition to boost its dairy production may not crystallise if the cost of production for local makers remains higher than imported brands. The situation is further worsened by the low productivity of local cattle breeds and increasing tension and conflicts between herders and farmers. Experts say that the high cost of production is a []
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Nigeria loses over $25.3bn in freight charges to foreign owned ships in 3 years
Wed, 30 Jan 2019
Nigerian ship owners have lost over $25.3 billion paid to foreign ship owners by importers and exporters as freight charges on goods imported and exported out of the country. This massive loss can be blamed on the failure of Nigerian ship owners to acquire standard oceangoing vessels in order to have the needed capacity to []
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Rising use of hard drugs heightens risks of living in Nigeria’s major cities
Wed, 30 Jan 2019
Nigeria Drug Law Enforcement Agency (NDLEA) may need to up its game following the disclosure of an alarming number of people consuming hard drugs in Africa’s largest economy. Currently, out of 14.3 million Nigerians using any form of drugs, 376,000 are said to be ‘high risk drug users’. No fewer than 80,000 Nigerians inject drugs. []
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Buhari crosses the rubicon
Wed, 30 Jan 2019
I have written many times in this column about the fact that President Muhammadu Buhari’s inclinations are not to govern as a civilian democrat but to rule as a military dictator. That inclination was manifest right from the moment he was sworn in as president on May 29, 2015-he did not want to be burdened []
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Oil sector reform: Looks like Indonesia would soon leave Nigeria behind
Wed, 30 Jan 2019
Nigeria’s oil sector reform has been on the table for over 18 years. President Obasanjo inaugurated the Oil and Gas Implementation Committee (OGIC), led by the late Rilwanu Lukman in year 2000 and this led to Draft National Oil and Gas Policy in 2004. That was the beginning of the endless journey of the Petroleum []
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Nigeria’s political tension could be a catalyst for $100 oil
Wed, 30 Jan 2019
The rising political tension in Nigeria in addition to other geopolitical tension across the world could be the catalyst for $100 per barrel of crude oil to arrive sooner than ever projected. The upcoming elections give cause for concern which could result in pockets of violence, enough to disrupt operations. The volatile campaign season ahead []
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What Indonesia can teach Nigeria about industry, growth and reforms
Wed, 30 Jan 2019
Nigeria is no Indonesia, but the worlds fourth most populous country does have a lesson for Africa’s most populous nation on how to diversify its economy, boost growth rates and reduce poverty. Even with a much higher population than Nigeria, Indonesia has been able to attain lower poverty rates which declined to the lowest level []
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New minimum wage means more woes for cash-strapped states
Wed, 30 Jan 2019
With the newly approved state minimum wage of N27,000, eight states could be devoting their entire internally generated revenue to the payment of worker salaries alone. The Federal government of Nigeria approved the new minimum wage, which is 50 percent higher than the previous N18,000, in response to the agitation of the labour union since []
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Okezie applauds Buhari’s infrastructure drive in Southeast
Wed, 30 Jan 2019
Abia State Governor, Okezie Ikpeazu on Tuesday applauded President Buhari for his passion to uplift basic infrastructures, especially electrify and roads in the South East. Okezie said the state was particularly pleased with the Federal government for executing the Ariara market power project which he said will help to stabilize industrial developments drives of his []
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CBN issues exposure draft on e-payment of salaries, others
Wed, 30 Jan 2019
The Central Bank of Nigeria (CBN) on Tuesday issued an exposure draft on the regulation of end-to-end electronic payment of salaries, pensions, and other remittances, suppliers and revenue collections in the country. In a circular signed by Sam Okojere, director, payments system management department, the move is to enhance the adoption of electronic payments while []
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Nigeria unchanged in latest Transparency International CPI score
Wed, 30 Jan 2019
Nigeria, Africa’s biggest economy score on the Transparency International Corruption Perception Index (CPI) remained the same for two years at 27 out of 100, according to the latest report released on Tuesday, January 29, 2019. Nigeria ranked 144 out of 180 countries in 2019 compared to 148 out of 180 countries in the 2017 CPI. []
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Nigerian Breweries, Zenith, GTBank, others cause stock market’s N60bn loss
Wed, 30 Jan 2019
The Nigerian Stock Exchange (NSE) All Share Index (ASI) decreased by 0.53percent after Tuesday’s trading on the Bourse, while the Year-to-Date (ytd) return stood at a negative of 0.80percent. Losses in shares of Nigerian Breweries Plc, Zenith Bank Plc, GTBank Plc, Access Bank Plc, Dangote Sugar Refinery Plc and some others led to the cumulative []
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After N12bn, Tradermoni may fail to spur financial inclusion
Wed, 30 Jan 2019
Tradermoni, a federal government initiative aimed at supporting petty traders across Nigeria may fall short of its secondary target to reduce financial exclusion. The federal government initiative which has disbursed more than N12 billion in loans to a total of 1.2 million people may have so far not contributed to reducing the 36.6 million Nigerians []
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