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At least $1.5 billion (about N570 billion) is spent annually on the importation of dairy products into the country. This was made known by Alhaji Sabo Nanono, the Minister of Agriculture and Rural Development, on 28 March 2021, at the National Diary Policy Stakeholders Engagement in Abuja. According to him, 60 per cent of dairy…
The importance of research findings cannot be overemphasized. This was the crux of the message delivered by President Muhammadu Buhari last month, while declaring open the Five-Day Technology and Innovation Expo 2021 organised by the Federal Ministry of Science and Technology. With the allocation of about 0.5 per cent of GDP to research and innovation,…
The agitation for a drastic reduction in the cost of governance is gaining traction in the country’s political circles. With Nigeria currently facing the challenges of dwindling revenue, the need to cut costs to stabilize the polity keeps propping up at different fora. Recently, Plateau State’s Governor, Simon Bako Lalong, who was Guest speaker at…
Last Tuesday, a bill to establish the Nigeria Mineral Development Corporation (NMDC) scaled its second reading at the Senate. The bill, which is aimed at promoting investments in the mining sector, is sponsored by a former Nasarawa State governor, Tanko Al-makura (APC, Nasarawa South). In the lead debate, Mr Al-makura said the legislation was in…
To most oil-producing countries like Nigeria, the report that oil prices have crossed $70 per barrel for the first time in over a year would be great news. However, the reason for the increase is not a very palatable one. This Monday, Houthi rebels attacked a major oil facility in the world’s largest oil exporter,…
Recently, a bill seeking an amendment to the 1999 Constitution by removing matters relating to wages from the Exclusive Legislative List to the Concurrent Legislative List, narrowly passed its second reading. The legislation is titled ‘A Bill for an Act to Alter the Constitution of the Federal Republic of Nigeria, 1999 (as amended) to, Among…
Ngozi Okonjo-Iweala, Nigeria’s two-time minister of finance would finally be resuming in Geneva this March as the Director-General of the World Trade Organisation. In the course of her campaign for the coveted position, a lot of calculations were made and diverse steps taken. Some were aimed at boosting her chances for the position, while others…
The Federal Government launched the National Cybersecurity Policy and Strategy (NCPS) 2021 on 23, February 2021. The National Cybersecurity Policy and Strategy 2021 is a follow-up on the National Cybersecurity Policy and Strategy 2014. According to President Muhammadu Buhari, having achieved numerous cybersecurity milestones over the past six years, it became necessary to review the…
The Nigerian Insurers Association (NIA) has revealed recently that there are over 12 million registered vehicles in the country. Lagos State alone is said to have 5 million vehicles. Despite this large number of vehicles, the industry says that it loses millions in unpaid premium. About 9.64m vehicles have been revealed to hold fake motor…
Nigeria’s banking sector is the second-largest in sub-Saharan Afrifter South Africa. Total assets in August 2019 amounted to N39.6 trillion although some small and mid-sized Nigerian banks are still struggling to rebuild capital levels. This is following a decline in oil prices which led to a foreign-currency shortage. The 2016 recession also affected banks as…