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Nigerian manufacturers battling stunted growth blame forex scarcity The manufacturing sector has seen woeful growth in the last five years, and a key problem is businesses can t find the dollars to import raw materials. 7 min read Defying the intensity of the afternoon sun, Kazeem Ariyo walked briskly out of the premises of his bakery with palpable anger. He had just been informed that one of his retail vendors rejected hundreds of loaves of bread supply because the retail price offered was not “profitable”. Mr Ariyo, 45, is a baker operating from the Ajah axis of Lagos. In recent times, however, he has had tough times convincing his wholesale and retail vendors about the rising prices of baking materials. ....
Pakistan PM Downgrades His Security Detail As Islamabad Struggles To Repay International Debt sputniknews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sputniknews.com Daily Mail and Mail on Sunday newspapers.
Issues Arising From The Latest Naira Devaluation thenigerianvoice.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenigerianvoice.com Daily Mail and Mail on Sunday newspapers.
(Business in Cameroon) - On May 27, 2021, the IMF staff announced that they have reached an agreement with the Cameroonian government concerning the 3-year economic and financial program that will replace the one that ended in September 2020. “ IMF staff completed policy discussions with the authorities on a new 36-month program that could be supported by IMF resources under the Extended Credit Facility (ECF) and the Extended Fund Facility (EFF),” the Bretton Woods institution wrote in an official release. Cameroon has not yet fulfilled all the transparency commitments made in the framework of the Extended Credit Facility (ECF), thanks to which it received a XAF224 billion support to fight the coronavirus and its economic fallouts. For instance, the audit report on the management of Covid-19 is yet to be published. So, this release surprised several people. ....
James Emejo in Abuja The National Bureau of Statistics (NBS), yesterday accused the Minister of Labour and Employment, Senator Chris Ngige, of distorting facts and casting aspersion on the credibility of the employment statistics they produced. Yesterday, the Minister had through the verified official twitter handle of the ministry, alleged that the country’s employment data might be inaccurate, particularly the methodology used in arriving at the figures. He stated further that the World Bank had also queried the methodology adopted as it does not conform with global standards, especially that of the International Labour Organisation (ILO). Ngige tweeted: “There has been a little confusion as to the accuracy of data generated by the NBS. So, we want to align everything tomorrow. The World Bank says the NBS methodology doesn’t conform with the global standard, especially the ILO format of arriving at such Employment Index.” ....