CandyDiamond:
Which devaluation again when 1 dollar don reach 500N

European Union (EU) official Fillippo Amato has advised the Federal Government to devalue the Naira as part of measures to tackle the economic recession.

Amato, Counsellor, Head of Trade and Economics Section of EU, made this known in an interview with newsmen on Monday The EU official said that recession could not be addressed with traditional development tools.

He said the recession was a recent development which was due to a number of factors, including the fall in oil prices and resurgence of militancy in the Niger Delta.

“To come out of recession, the country has to take brave decisions, regardless of how unpopular they may be such as fully and effectively devaluing the Naira. “Devaluing the Naira is a measure, which will finally reassure investors and attract new capitals to the country.

“At the same time, it will further reduce imports, thereby removing artificial forex restrictions, and removing any potential waste of scarce resources such as the fuel subsidy. “Improving security (in the Northeast and Niger-delta) and ease of doing business are also key factors on which the government must urgently work to re-launch the economy,’’ he said.

Amato said that EU had been at the forefront of aid for trade support activities in Nigeria and ECOWAS. He said the most important programme the EU was implementing in Nigeria with its partners – GIZ, DFID/Adam Smith International and UNIDO – was the Nigeria competitiveness Support Programme.

“The programme aims at improving the quality of Nigeria products to comply with international standards. “The programme is providing capacity building to several Ministries, Departments and Agencies such as Ministry of Agriculture, Standards Organisation of Nigeria, Consumer Protection Council, Nigerian Customs Services and NADFAC.

“We support the trade institutions in the formulation and implementation of a sound trade policy (support to the Federal Minister of Industry, Trade & Investment, and Nigerian Customs Service). “This is to improve the business environment, with pilot projects in Kano and Kaduna to improve the procedures for obtaining land titles, and business licences,’’ he said.

He said Nigeria also needed to take advantage of the devaluation of its currency by diversifying its sources of foreign exchange revenue and this mainly through boosting its non-oil exports. Amato said that EU would increase its support to the country under the Economic Partnership Agreement (EPA) if ratified.

“EPA aims at boosting industrialisation and sustainable development of West Africa, both through improved (predictable, transparent and long-term) trade relations and through a development cooperation component.“In addition, on Sept. 14, the EU has launched a European External Investment Plan which will further support private sector investments in the African continent, including Nigeria.

“The plan will support investments in the continent by providing targeted guarantees and ameliorating the investment climate and the overall policy environment in partner countries. “The Plan will be implemented through the new European Fund for Sustainable Development, with EU funds totalling 3.35 billion Euros until 2020.

“The EU Funds are expected to mobilise up to 44 billion Euros additional investments,’’ the official said. He, however, advised Nigeria to take into consideration all the opportunities the EPA would offer to Nigeria and communicate them to all interested stakeholders.

“The role of the government is also to reassure all stakeholders that there is no reason to be worried in the course of implementation of the EPA. “The government will use all instruments offered by the EPA to ensure it will achieve its objective to promote industrialisation and development of Nigeria and West Africa.

“The EU will do its part to ensure these objectives are achieved,” he said.

According to him, in a globalised world no country or regional community can ignore the destiny of its neighbours. “The EU, in particular, due to its historic ties and geographic proximity to West Africa, has a strong interest in promoting and supporting West Africa’s development, well-being, prosperity and stability.’’

keyremotes:
GO AND HIDE YOUR HEAD IN SHAME. SILLY MAN.
WHICH GOD ARE YOU THANKING?
FOR WHAT ARE YOU THANKING HIM?
GO AND THANK OSHIOMOLE YOU GOD.

okosodo:
Everybody wants to talk

The Anglican church has tasked the governor-elect of Edo state, Godwin Obaseki to work hard to fulfil his electoral promises and minimise wastage in government when his government is formally inaugurated in November this year.

The presiding Priest of St. Peters Anglican church, Benin Diocese, Venerable Osaro Igbinosa gave the advice during Sunday Thankgiving service at the church by the governor-elect, Godwin Obaseki and his deputy governor-elect, Hon. Philip Shaibu.

Igbinosa, who took his Bible reading from Joshua chapter 1 verse 8, said the prevailing economic recession in the Country is a cloud with a silver lining if only the led and the leaders were courageous enough to take tough decisions.

"This is not the time to waste the wealth of the state in this time of recession. There are some states in this Country that cannot even pay full salaries. Even in Bayelsa state. A small state like that the governor cannot pay full salaries.

"You (Obaseki)should work more than Governor Oshiomhole. He believes you have the integrity and that you (Obaseki) will not steal the money belonging to Edo state.

"Those of us who are Priests should not turn the government House to church.
"Don't twist the hand of the governor...If you want to succeed, you must step on toes", he said

Responding, the Governor-elect of the state, Godwin Obaseki, said he would stick with the admonition of the church.

According to Obaseki, "We won an election last week that can easily be described as the most peaceful election in our recent history".

The Governor elect said, " in an election that was conducted in about 5,000 polling units, not one life was lost, I think is something to be thankful to God for. Everything he (Venerable Osaro Igbinosa) said today (Sunday) is apt for governance".

On his part, Hon. Philip Shaibu, assured the incoming government would consolidate on development and infrastructural renewal of the state government.

"As a Christian, the only way to continually receive the blessings of God is to give him back.

"I am thanking God not only for the victory, but that nobody died. There was incident of violence and nobody was molested.", he said.

allbright:

fuckyoumhen:


I AM 100% SURE THAT THIS IS ANOTHER PROPAGANDA FROM APC.

TAKE IT OR LEAVE IT!

I KNOW WHO YOU ARE SO AM NOT SUPRPRISED TO SEE THIS!

IF A THREAD LIKE THIS MAKES FRONT PAGE WITHOUT PROPER VERIFICATION TO AUTHENTICATE THE CONTENT IT MEANS NAIRALAND IS INDEED A DUMPING GROUND WHERE EVERY BEER PARLOUR NEWS MAKES FRONT PAGE ALL IN THE NAME OF TRAFFIC

fuckyoumhen:


I AM 100% SURE THAT THIS IS ANOTHER PROPAGANDA FROM APC.

TAKE IT OR LEAVE IT!

I KNOW WGO YOU ARE SO AM NOT SUPRPRISED TO SEE THIS!

kodine:
its real...u vote and get ur money....dats edo election fo u

asuustrike2009:

Are you supporting rigging?

vRendoh:

As was Oshemole..... so will be Iyamu.
This victory dance is temporary

blueto:
We know the election was rigged in favor of the ruling party. Jonathan's legacy of conducting Free and Fair election has been marred.

PassingShot:
PDP and its wailing zombies have special capacity for whining and wailing and they think most Nigerians are stupid.

Edo election was won and lost fairly and squarely. No report of violence, ballot snatching and other common irregularities seen in Bayelsa and Rivers "won" by PDP. If PDP has evidence to support its claim, it should proceed to the courts and stop crying daily.

Where was democracy when PDP was always writing election results even in places where no election was held? Then you'd see result as AC - 80, APGA - 1,000, ANPP - 500 and PDP - 25,500.

The 2015 General election they lost was largely due to the fact that Nigerians were already pushed to the brink by their looting and corruption. Hence they couldn't rig it especially with the card reader and PVC.

PMB has largely restored hope in our elections as votes now count now more than any time in our history.

nextstep:


Everybody rigged to the best of their ability. Instead of simply congratulating the ones that rigged the best, they're here crying and being sore losers, instead of strategizing how to rig better in the next election. Are they even crying because they have a better game plan for us, or more likely crying because of all the fat contracts they are missing out on. Abeg polithieftians take your crying to someone who cares (e.g. not me)

dimieprincess:

I v decided neither to reply nor quote #Tonyebarcanista because he shifts goal post like our common politician. He is worst than Lai Mohamme or worse than him. I could remember he opened a thread about his retirement as a pdp member, today he is singing different song.

Read above and see his assertion that he is now a pdp member. I don't take people like him serious, he reminds me of Nuhu Ribadu

TonyeBarcanista:
Are you from Edo state? Why crying more than the bereaved?

Is it not the same Jega that declared Jonathan winner in 2011? Or Did Jega twin brother replaced him?

What is the meaning of this nonsense? Why not mind your business and allow PDP in Edo and Iyamu Campaign Organisation take the next step whether to go to court or not? What has Jonathan got to do with Edo?

Talking of Jonathan, he lost over 1year ago and no wailing can reverse it. In fact, he will never come back to power (mark my word).

Let us get over 2015 loss and plan towards 2019. As for Edo, the party and candidate will decide where next.

kapish

NgeneUkwenu:
lalasticlala,why has this thread not been brought to the front page...?

tuale4u:

i agree with u. This is a front page material.

NgeneUkwenu:
lalasticlala

ibhagab:


We d true people of Edo State will vote Obaseki of APC as Governor.

Ize Iyamu who wants to use edo money to sponsor igbinedion birthday cannot bcome our governor.

NgeneUkwenu:


So They Should Have endorsed Igbinedion and his hangs?

fulaniHERDSman:

No brother, they should have stayed neutral and while at it, be seen to be fighting for the bad economy battered workers of this country.