Nigeria: Nigeria s Federal Executive Council approves immediate panapress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from panapress.com Daily Mail and Mail on Sunday newspapers.
Plan for giant hydropower plant dates back to early 1970s A Nigerian company that lost out on a contract to build a multibillion-dollar hydropower plant has filed a $400 million arbitration claim against the nation’s government, further hampering its plans to access Chinese financing for the project. Sunrise Power
Nigeria’s Federal Executive Council last week approved the National Poverty Reduction with Growth Strategy (NPRGS), a scheme they say will accelerate the reduction in poverty through economic growth, social protection programs, and others.
The FEC also announced the establishment of a Nigeria Investment and Growth Fund to invest in commercially viable projects in priority sectors that will promote growth and innovation, enhance local value addition, and create employment.
The NPRGS was necessitated by the rise in poverty and inflation which has caused hardships for Nigerians. In a document released by the Presidential Economic Advisory Council (PEAC) a month before the FEC approved the plan, the FG outlined the process needed to implement and achieve their plans.
The House of Representatives has asked the Federal Government to suspend the proposed 2021 census due to the rising spate of insecurity across the country, citing that conducting such exercise when many Nigerians have been displaced from their homes is a breach of “constitutional rights.”
The motion was moved at the Wednesday plenary session by Rep. Shehu Beji (APC-Niger) on the floor of the House on Wednesday, in Abuja.
Why the House of Reps wants Census suspended
“In the circumstance, a large number of Nigerians have fled their homes, while many others are being held captive by kidnappers.
As such, conducting such census without them means infringing on their constitutional right.
What you should know
The CBN official exchange rate currently stands at N379/$. Checks at the time of drafting this report revealed that the Naira rate adopted by Seplat for the payment of its final dividend is the official rate for foreign exchange spot operations in the Investors and Exporters FX Window (NAFEX).
The recent exchange rate disclosed by the oil company speaks volume about the persistent fall in the value of the naira which is down by 6.34% when compared with the N385.78/$ rate the company fixed for the payment of its interim dividend six months ago.
What this means