NEWS SUMMARY, Tue 18TH NOVEMBER 2014 1. We have reduced food importations, FG says - Dailytrust There has been a significant reduction in Nigeria’s food import bill in the last few months, a top official has said. Minister/Deputy Chairman of the National Planning Commission (NPC), Dr. Abubakar Sulaiman, disclosed yesterday that Nigeria now produced foods locally and depended less on importation. dailytrust.ng/daily/business/39737-we-have-reduced-food-importation-fg-says 2. FG orders Basic Registry information system take off - Dailytrust In its determination to tackle the menace of internal insecurity decisively, the Federal Government is dusting its files on the Basic Registry Information System in Nigeria, (BRISIN). The project, approved in 2007 by the Federal Executive Council, has suffered a setback owing to selfish political scheming by successive ministers in charge of national planning. dailytrust.ng/daily/news/39760-fg-to-implement-basic-registry-information-system 3. American Firm Plans 1200MW Solar Plant in Nigeria - ThisDay A consortium of American investors in renewable energy has pledged to deliver in two years, 1,200 megawatts (MW) of solar-powered electricity in Nigeria. Operating under the auspices of MOTIR SEASPIRE, the consortium, which signed a Memorandum of Understanding (MoU) with the Minister of Power, Prof. Chinedu Nebo in Abuja, stated that it has a portfolio of over $5 billion to invest in solar power generation in the country thisdaylive/articles/american-firm-plans-1200mw-solar-plant-in-nigeria/194393/ 4. Fuel subsidy to reduce by N600bn - Online On the flip side of the decline in crude oil prices, which has affected the country’s revenue from oil exports, analysts expect the Federal Government’s spending on fuel subsidy to reduce by up to N600bn this year. But the reduction in fuel subsidy, according to the analysts, would not be enough to offset the revenue shortfall arising from low oil prices since the country depends largely on earnings from crude oil exports. thenigeriatoday.net/fuel-subsidy-to-reduce-by-n600bn/ Nigeria records N6.65tn trade in three months 5. Nigeria records N6.65tn trade in three months - Punch/National Mirror The value of Nigerias imports, the report stated, was N1.97tn in the second quarter of 2014, representing a rise of N431.8bn or 27.9 per cent above the level in the first quarter of 2014. The increase, it said, emanated from a rise in the value of .. nigeriaheadlines/news/nigeria-records-n665tn-trade-in-three-months-the-punch 6. Govt launches $50m Venture Capital Fund - Nation The Federal Government yesterday launched a $50 million Venture Capital Fund also known as the YouWin Small and Medium Enterprise fund. It was launched alongside the fourth round of the Youth Enterprise With Innovation in Nigeria (YouWin) programme. YouWin, which started in 2011, is an entrepreneurial scheme designed for entrepreneurs aged between 18 and 45 years aimed at creating jobs by helping winners to strengthen and expand existing businesses as well as turn innovative ideas into solid businesses thenationonlineng.net/new/govt-launches-50m-venture-capital-fund/ 7. Oil price crash: FG insists on diversifying the economy - Dailytrust The federal government, yesterday, said it will soon stop relying on crude oil as its main source of revenue generation. This came on the heels of the federal government’s announcement, Sunday, that it would lower oil benchmark for the country’s 2015 budget to $73 per barrel from the $78 proposed in September, due to the recent sharp fall in global crude prices dailytrust.ng/daily/business/39736-oil-price-crash-fg-insists-on-diversifying-the-economy 8. Nigeria’s expenditure on GDP increases by 6.02% in Q1 2014 - The growth rate of total expenditure on Gross Domestic Product (GDP) measured in real terms increased by 6.02 percent (year-on-year) in Q1 of 2014, the National Bureau of Statistics has said. The report which was made public yesterday showed that year-on-year nominal changes indicated an increase of 10.04 percent in the quarter. dailytrust.ng/daily/business/39732-nigeria-s-expenditure-on-gdp-increases-by-6-02-in-q1-2014 9. Global energy consumption to rise by 37% by 2040 - Guardian INTERNATIONAL Energy Agency (IEA) has estimated that global consumption of primary energy will increase by 37 per cent by 2040, mostly driven by growing demand in Asia, Africa, the Middle East and Latin America. IEA said in its recent World Energy Outlook 2014, that world primary energy demand is 37 per cent higher in 2040, putting more pressure on the global energy system. ngrguardiannews/business/186955-global-energy-consumption-to-rise-by-37-by-2040 NPC INFORMATION UNIT TUESDAY 18TH NOVEMBER 2014
Posted on: Tue, 18 Nov 2014 16:49:07 +0000
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