₦airaland Forum

Us Nigeria really a big brother to African Nations

By Sulaimon Salau,
The improvement in gas supply experienced in the country may have extended beyond the shores of this country as the neighbouring country Ghana confirmed that it is now getting robust supply through the West African Gas Pipeline (WAGP) network.



Indeed, Ghana’s Volta River Authority (VRA) confirmed that it is unable to consume all the gas that comes in.

The Business Development Manager of the VRA, Kofi Ellis, recently said: “Currently, we are getting in excess of 140million standard cubic feet per day of gas from Nigeria. That has been quite encouraging,”

Ghana had lamented that the WAGP, which was conceived to supply natural gas from Nigeria to Togo, Benin and Ghana, among other countries in the region, has not been meeting up with the needs of the nation’s electricity firm.

Until recently, volumes supplied to Ghana dropped to an all- time low of between 30million and 50million standard cubic feet per day, making it difficult for the solely gas-reliant Sunon Asogli power plant (200 megawatts) to stay on.

The Ghana Gas Company was however suspecting that the coming on stream of its own gas must have had something to do with the recent increase in supplies from Nigeria.
The Chief Executive Officer Ghana, Dr Sipa Yankey, believed that the establishment of the Ghana gas company led to the sudden increase in supply from Nigeria, bearing in mind the emerging competition.

“For some reason supply from Nigeria has suddenly increased,” he said.

Chief Executive Officer of the WAGP, Walter Perez, however linked the supply increase to the fact that Nigerian gas sector has simply found some peace, with no pipeline vandalism in the last few months.

“The other component, I believe, is that some of the policies of the former government in Nigeria had been to invest in pipeline infrastructure and also in gas production, and we are seeing that those plans are coming through; they are actually being completed.” Walter said.


Source:http://www.nairausd.com/2015/10/ghana-gets-robust-gas-supply-from.html?m=1

Twitter@nairausd

Our struggling shall not be in vain.
If you believe pass it around

Exchange Rate Of Dollar To Naira,Wednesday 7th October 2015

CBN. $1. N197.00

OFFICIAL RATE. $1. N199.05

BDC. $1 N203.895

PARALLEL RATE $1. N223.00 & N224.50



**Please note that the Parallel rate varies for different location


http://www.nairausd.com/2015/10/exchange-rate-of-dollar-to.html?m=1

Beautiful day to everyone

Exchange For Euro To Naira,Wednesday 7th October 2015

CBN. C =1. N221.2901

OFFICIAL RATE. C=1. N223.66

PARALLEL RATE C=1. N250.00



**Please note that the Parallel rate varies for different location
http://www.nairausd.com/2015/10/exchange-for-euro-to-nairawednesday-7th.html?m=1

What's happening

Exchange Rate for B Pound-Naira, 7th Wednesday October 2015

CBN. E1. N98.9278

OFFICIAL RATE. E1. N304.37

PARALLEL RATE. E1. N347.00

http://www.nairausd.com/2015/10/exchange-rate-for-b-pound-naira-7th.html?m=1

PMB and his SAINTLY noisy workers

obum88:
I am a full blooded Igbo but that is not injustice it shows superiority.

Well said.

IGBO KWENU

Whenever APC speak you will begin to think or ask?

Is the devil in any competition.

Y

This is how they begin to reveal their illegal deals without knowing.

One by one.

You know. .......

Madam NOI have her work to do.

Besides Maduakwe has her own lawyer

atarapa:
Anambra is best in road network in nigeria......kudos to Peter obi

You can say that again but that name wey you mentioned abeg no make FREEGLOBE catch you.

Na advice I de advice you

You know.......

But PMB show treat her softly because she is a woman

This is completely brutality finishing from PMB

The WEST will be on their kneels praying for failure

Truthpallbearer:
Missy89, AppleYard, Shymm3x
food is ready.

Must every Nation bow to America demand.

America want the World at it feet

This one chance to clear.

Kai! My people what is this.

By Adeyemi Adepetun
• Higher oil prices and reforms implementation to place Nigeria above others
• Yearly GDP expansion of 8.5% expected for Ghana by 2017

AN economic insight into the African region has projected that economies including Nigeria, South Africa, Botswana, Zimbabwe and Ghana will outpace global average anytime soon.



This projection was contained in a report titled: ‘Economic Insight: Africa Q3 2015’, authored by the Institute of Chartered Accountants in England and Wales (ICAEW), and produced by the Centre for Economics and Business Research Ltd (Cebr), launched on September 30 in London, and made available to The Guardian, yesterday.

According to the report, which also drew on estimates prepared by the World Bank, it disclosed that the total level of external financial inflows into Africa has increased from $40.4 billion in 2000 to $192 billion in 2013.

It noted that this was largely attributed to the inward Foreign Direct Investments (FDIs) from China with investment mainly going into primary resource sectors and infrastructure.

Regional Director, ICAEW Middle East, Africa and South Asia, Michael Armstrong, said China has approached African economies in a very different way to Europe, focusing less on official aid and engaging more aggressively through foreign direct investment and trade.

Amstrong said this has been a game changer for the development industry, forcing European countries to rethink their strategy of connecting with the continent.

He disclosed that at turn of the century, private finance constituted 62 per cent of African economies’ total inflows.

“Today, that number has risen to over 70 per cent, signalling a shift in investors’ perceptions of the market. Thanks to resource wealth, West Africa and Southern Africa are leading the way, attracting the majority of FDI; though East Africa is catching up. This is partly thanks to efforts for closer integration in the East African Community (EAC), which has involved harmonising investment regulations across the region and reducing red tape”, he stated.

Furthermore, the report observed that much of the non-resource focused growth can be attributed to African infrastructure projects and investment in consumer-oriented industries including: rail projects in Uganda, Nigeria and Zimbabwe; Ethiopia’s textile, real estate, automobile and rail industries; Eritrea and Tanzania’s shipping industries; and Kenya and Rwanda’s real estate industries.

According to Danae Kyriakopoulou, ICAEW economic adviser and the report’s author, “while economic development naturally varies across the continent, Africa’s regional outlook as a whole remains bright with a number of projects expected to bolster growth.”

The report informed that Nigeria is expected to experience growth in the medium term helped by higher oil prices and the implementation of reforms. It projected a yearly GDP expansion of 8.5 per cent for Ghana by 2017; Ivory Coast should remain on a high growth path into 2016.

Also, growth in Angola is expected at four per cent, while the pace of GDP expansion in South Africa is forecast to see a gradual pick-up over the next three years.


Source:http://www.nairausd.com/2015/10/africas-economic-growth-to-outpace.html?m=1

Twitter@nairausd

House is the Gov. Correct.

Over to you.

Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, has said that the naira is “appropriately priced”, adding that the central bank does not plan any adjustments in the currency for now.

Speaking at a conference hosted by Financial Times in London, Reuters quoted Emefiele as stating that restrictions put in place in June to conserve foreign exchange reserves and support the naira were working.

The CBN had restricted funding for 41 items in its official forex market in a bid to encourage local production and to conserve the nation's forex reserves.

However, Emefiele was quoted by Bloomberg to have said the central bank would consider easing the restrictions on currency trading if demand for foreign exchange drops further.

The controls are necessary to limit demand for dollars, Emefiele told the delegates at the conference on Africa held monday.

The central bank had little choice in imposing the curbs in order to preserve foreign-currency reserves, he said.

The naira weakened slightly on the Lagos interbank market to N197 per dollar yesterday, from N196.95 it was last week. The present value of the naira was the seventh adjustment since the regulator introduced tight currency controls in February, Reuters stated.
But the CBN did not provide any reason for the adjustment, which traders said was made through a message.

The naira traded weaker on the parallel market at N223. Forward markets, used for betting on future exchange rate swings, priced it to drop another 20 per cent over the coming year.

Emefiele said Nigeria should focus on diversifying its economy and needed to manage what little hard currency reserves it had.
“At this time … the currency is appropriately priced,” Emefiele said.

“People are asking me whether I am ready or not for an adjustment, and I tell them: At this time, no adjustment,” he said.
He added that he was looking at various options but gave no details.

Since June, purchasers of foreign currency bonds and importers of 41 kinds of items, from toothpicks to private jets, have been restricted from purchasing dollars on interbank markets.

Vice-President Yemi Osinbajo at the weekend said the country would keep restrictions on foreign currency for the time being to preserve reserves but promised to relax them eventually.

The restrictions were effective, Emefiele said, adding: “It is working and people should have patience with us.”

“Once we have achieved a result we can allow ourselves to look at a freer market,” Bloomberg further quoted the CBN governor as stating.

With the backing of President Muhammadu Buhari, Emefiele has resisted calls to ease the controls and devalue the naira despite criticism from investors, businesses and fellow members of the Monetary Policy Committee (MPC).

The restrictions have reduced liquidity, prompting JPMorgan Chase & Co. to remove the nation’s bonds from its emerging-market bond indexes last month.

Emefiele said: “Demand for foreign exchange has dropped.”

Source:http://www.nairausd.com/2015/10/naira-appropriately-priced-emefiele.html?m=1

Twitter@nairausd.

Chubhie:
Forgive me. I projected my fears that her redemption may not happen in my life time cos I'm but an old man. It will take a miracle for Nigeria to be redeemed and I wish to see her thrive before my time is up.

That's nice

Chubhie:
What's on your mind?

I love you typed but saying Nigeria can't be redeemed l disagree

Chubhie:
Two wrongs don't make a right. Now we all have to suffer cos some people don't know how to follow due process to iron out issues. Very typical of the Nigerian mind. It happens every day on the streets.

Nigeria is beyond redemption cos it is a disease of the mind.

Hmmm

To be sincere . After work and no pay.

It will not be easy to continue but don't give up on your sweat because you don't know when you will make it.

Tell them the truth blogging is not easy.

And to those that want to start, blogging take time unless luck it in your side.

God bless you know. ..

zenith4biz:
Hausa man Dark
Hausa Son. Dark
Hausa woman Light
Hausa daughter Light

If you check am na dem de do bleaching and makeup pass.

Another one be say

Hausa rich pikin light but poor pikin dark
Why

Fp

tobimillar:
Baba, I fault u on this one. Sounds like inferiority complex...
Baba can always schedule meetings with the press at specific times if he wants to. Take a clue from foreign leaders. It's not so fair that cnn, bbc and co will be the one reporting domestic news for Nigerians. Can the foreign countries allow NTA, AIT, OGTV or CHANNELS, to do same?

Should I saw supported or love this

onlinebizinfo:
The drop in power was just so sudden. In my area, it started on friday evening, immediately after the rainfall .

Just the same at my area

Nigerian Banks Heading For Another Credit Crisis, Citigroup Warns

https://www.nairaland.com/2644758/nigerian-banks-heading-another-credit