By Peter Uzoho
As Nigeria battles to exit its second recession in less than a decade, largely caused by the COVID-19 pandemic and attendant drop in crude oil prices, analysts at the PwC have emphasised the need for the federal to expedite implementation of all fiscal reforms for Nigeriaâs quick economic recovery.
PwC stated this in its analysis of the 2020 third quarter national economic report published by the Nigeria Bureau of Statistics (NBS), entitled: âNigeria Economic Alert Q3â2020 GDP Report: Deepest Recession in Decades Offers Opportunity for Extraordinary Reformsâ.
It specifically stated that, âat the core of the best and most effective approach to expediting Nigeriaâs economic recovery is the implementation of fiscal reforms, some of which have been captured in the Nigeria Economic Sustainability Plan (NESP).â
PwC: Nigeria s economy will perform better than IMF, WB projections
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Nigeria: Govt Begins Training of Host Communities for $5bn Mambilla Power Project
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Emmanuel Addeh in Abuja
The federal government has begun the training of at least 500 individuals under the Youths Empowerment and Skills Acquisition Training (YESAT) as part of the Mambilla Hydroelectric Power Project (MHEPP) local content initiative.
The financing arrangement for the $5.8 billion project indicates that while China’s Export-Import Bank will provide 85 per cent of the resources, the federal government will cater for 15 per cent of the joint project.
Minister of Power Mr. Sale Mamman, who officially flagged off the training programme in Taraba State at the weekend, described it as a joint effort between the ministry and the National Power Training Institute of Nigeria (NAPTIN).
James Emejo and Folalumi Alaran in Abuja
The Minister of Industry, Trade and Investment, Mr. Niyi Adebayo, said the federal government has so far disbursed a total sum of N12.4 billion to micro, small and medium sized enterprises (MSMEs) through the Bank of Industry (BoI) as part of efforts to mitigate the impact of the COVID-19 pandemic.
Speaking at the opening of the 12th meeting of the National Council on Industry, Trade and Investment (NCITI), in Abuja, with the theme:”Revitalisation of the Industry, Trade and Investment Sector in Nigeria in the Post COVID-19 Pandemic Era,” he said the risks of the pandemic was being mitigated by the government by exploring ways to catalyse and sustain production, creating supply chains, preventing market disruption through efforts to alleviate the financial impact on small businesses.