Nigeria Ranks 124 on Global Competitiveness Index – World Bank

According to a report released by World Bank yesterday, Nigeria recorded slight improvement in Global Competitiveness Index ranking, GCI, from 127 to 124.

Also, the report attributed 16th position of the bottom 20 economies in the Global Competitiveness Index, GCI, to sub-Saharan African.

The World Bank Group Governance Specialist and co-author, African Competitive report, Mr. Barak Hoffman, made this known at the Nigerian Economic Summit Group and World Bank workshop on Economic competitiveness in Nigeria in Lagos.

The report said, “Nigeria, as at 2005, was ranked 94; but further dropped to 124 out of the 140 countries in the Global Competitiveness Index, GCI, in 2015/2016, between Gambia and Zimbabwe.

“The country rose from 127 in 2014/ 2015, as Mauritius remains the region’s most competitive economy rated 46, while Côte d’Ivoire at 91 is the most improved country in Sub-Saharan Africa, followed by Ethiopia ranked 109.”

He listed institutions, policies, and factors of production to determine the level of productivity of a country.

He explained that Nigeria performed well on market size, macroeconomic environment, and labour market efficiency, but had challenges in health, primary education, higher education, training and infrastructure.

While speaking on the challenges, Hoffman said: “Poor infrastructure, corruption and access to financing are the most problematic factors for doing business in Nigeria. Tax rates and complexity, and crime are not very problematic, by contrast.”


Oil workers call off strike


The Nigeria Union of Petroleum and Natural Gas Workers, NUPENGW, and the Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN, have called off their industrial action.

Both unions called off their strike after meeting with the Minister of Labour and Employment, Chris Ngige.

Recall that the two unions recently embarked an industrial action due to some unresolved issues by the Federal Government relating to the welfare of oil workers among other things.


Edo Election: INEC Endorses Ize-Iyamu as PDP Guber Candidate


Pastor Osagie Ize-Iyamu is the Peoples Democratic Party (PDP) candidate for the Edo Sept. 10 governorship election, the News Agency of Nigeria (NAN) reports.

Mr Nick Dazang, the Independent National Electoral Commission (INEC), Deputy Director for Voter Education and Publicity, disclosed this in an interview with NAN on Tuesday in Abuja.
Dazang said the decision to accept Ize-Iyamu as candidate of the PDP National Caretaker Committee was based on the court decision on the matter.
Dazang said “the commission collected the nomination from Makarfi-led faction because he has a court judgment that says INEC should accept his candidate.
“Secondly, you will recall that it is only his own faction of PDP primarily that the commission monitored.’’

The Sen. Ali Modu Sheriff faction of the PDP had earlier submitted the name of Matthew Iduoriyekwemwen as its candidate for the Sept. 10 polls.

Dazang said the commission had received nominations forms from 19 political parties including the All Progressives Congress (APC). He listed others as Action Alliance (AA), African Democratic Congress (ACD), Advance Congress of Democrats ( ACD), Allied Congress Party of Nigeria (ACPN), All Progressives Grand Alliance (APGA), Citizens Popular Party (CPP), Independent Democrats ( ID) among others.

INEC had earlier said that it would await final outcome of court cases in deciding on PDP’s candidate for the governorship election in Edo.
The Makarfi’s group, supported by all organs of the party, including the Governors’ Forum and the Board of Trustees, conducted its primary on June 20 in Benin and elected Osagie Ize-Iyamu as candidate.

On June 29, in another primary also in Benin, but was not supervised by INEC as required by the Electoral Act, Sheriff’s faction picked Matthew Iduoriyekwemwen as the party’s candidate for the Sept. 10 election.

It will also be recall that a Federal High Court in Port Harcourt on July 4 held that the May 21 national convention that removed Sheriff as chairman and constituted the National Caretaker Committee was duly constituted.

The court also declared that the dissolution of the National Working Committee and the National Executive Committee by that convention was valid.
In the judgment, Justice Abdullahi Liman declared that the appointment of the caretaker committee to oversee the party’s affairs was legal and in line with the provisions of PDP Constitution.



FG Restates Commitment to Sustainable Power Supply


The minister of state for Works, Power and Housing, Mustapha Baba Shehuri tasked stakeholders in the sector to come up with the right energy mix among the volumes of energy resources in the country that will serve the best interest in delivering power to all Nigerians.

Addressing participants at the second edition of the National Council on Power organised by his ministry in Kaduna, Shehurisaid, the power industry is currently going through specific challenges and it is important the council deliberate on them especially as the industry is in transition.

Represented by Louis Edozien , permanent secretary, Power in the ministry, he said committees will be established and saddled with the specific issues that need attention , adding that all stakeholders need to be on board in moving the sector forward.

The minister said, “We are here to discuss gas to power and the current constraints that we have and the gas resources that we have and the prospect of better utilization of the resources, the key actors in the sector, international oil companies, NNPC, others and what they need to do to get a better result , the pricing issues , commercial issues and security which is at the centre of the challenges that we now face.

“How to align gas infrastructural development with the generation capabilities, how to use gas resources more creatively in terms of LPG, LNG and other ways of better utilising our rich gas resources.

“The first committee will be looking at issues like on the ideal energy mix for the country, yes we are abundantly blessed with gas. But we also have extensive hydro resources. Nigeria also has coal, we have wind, we have abundant solar, one committee is going to focus on how to effectively harness these energy resources and develop energy target and mix that will better serve the country.”

The right energy mix for Nigeria should include solar panels. Reasons being;
-we have impressive sunshine
-we need it to power our day time power needs
-it can be deployed on small scale basis for remote settlements
-it is cleaner
-the gas fired alternatives have been hijacked by powerful cabals.
It doesn't need gas pipelines that are being vandalised.

Always will, will for over a year now. When will it be? Sing on for your zombies. Sing on.

This is what they always say!

[color=#000099][/color]Nigeria we are blessed with the resources and course with leaders right from inception...papa God i need you but Nigeria needs you more. Please what next??

nnachukz:
Always will, will for over a year now. When will it be? Sing on for your zombies. Sing on.