Wednesda%October 3,20L2
I I
Tf
tor's rontnlJutions for the
a
I 31
We are putting structures In pllce to Expansion Grant Is
Agric sector's contributions to GDP may surpass Nll.6trn "",srronglndk:atlons that 5lUldry initlatiw!s the Federal Government a.i.med at enhancing Agricultural sector's oontribudons to the GI"06S Domesdc Produa (GOP) may raise the sector's current base oontributlons higher than theaboul NIl..59 trillion reoon1ed In alii Although the 0W!r8l.1 GOP growth rate dropped to 6.28 per rem 81 the end cf Q2. 2012 up from the 7.61 per cent In the am-
NatlOOJJ~ www.naUona1m.irTon,.\me.nft
Business & Finance
lncentive system in Nigeria is to get close power
T OLA A KINMUTIMI ABUJA
I
six-month period srood at N5.00tm rompared with the N4..9Urn ri the orresponding period d: Ia& year. This represents about NI55.54bn higher outPUt The crop production ac-
tMUes which in past two years ha\"I! remained the largest cornrlbutor to the
rate when anaJysed on non-oll product-by-prod· oct basis, rose to Nt.7trnas
GOP
at Q2, 2012. rompared with the NU2trn In the six
mooth period ended June MiL The Q2. 2012 value representabout represents aboul 1S per cent r:£ the GDPoompared with Crude aU's N7.61tJ1l or 40.17 per <:enl of the GOP CL\J"rent base vaJue. Agrk:uItW"al sector's total CUJTent base
dOllal MlnTJr 00 the Increasing value d the Agricultural Sector to the COUntry's GOP showed that a comblnation or fac. tors. incllld.ina a frimmly climate characterised by adequate ralnfaD across the states, Improved pow. er supp1y. stnblllty or the naira exchange r3le, im-
or NS.00trn or 28.67
proved fiscal policy regime
prices
and fimd.lng by both the government and devclop-
ment agencies like the World Bank, European Union, private investors, amongst others. aa:Olmt for the rising prdl1e d the sector in the GDP figures. Despite the bright prc& peas d the agrlcuItw-.J Sl'CIOI"'s performance. especia11y when experiences have shown over the years that its contributions t:J
AIr
Intema!o/Jai P
tos- UlW ~I
11.5f!rn
l6WUs 10.'ilim
-london)
Inm. ~ &sat
F
I
ffi. sa! & ill>
AMI AIr
the GOP are ~ better in the latter part cL eadl year with bumper h3J~ vests or aops. analysts an! however wary d the Ukel.,
111:20, 15111,
negative lmpllcatlons or the nwdging floods &cro6!1 rarmlands in middle aM
northern beItso( thecow'l-
""
l>a.rative period d a1ll. available statistics on the GOP's product-by-product
a
oontributions at the end June this year showed that agricultural sector's conlributlons would surpass lasl }-ear's mark In view of the impr'(Mld growth 110lentiaJs of the C1"OjI production segment d the sectot: Acoordlng to the QtQ2. ~12 GOP estimated currenl base prloes just
published by Ole National Bl.U'1!3u of Stntlstics. cumulative 8b'riculrural sec-
s.cr.t.r,"
WI : Ra~tattno olU.. H...t of Chili s.mc. of tIM: f ....natIon, t.k. .a-. OtM.gbl ...t ~ Inlltltut. 01 c "-....-.d . nd Ad mlnll.lnl.onl 01 Nlg.n., Ilk. 0IaIuncs. Buurl, d uring li'iio ICSAH'. 38Ih AnnuIII C,,",IInn<:. wIIh .... u. ....., lmwatinsI.nd S...tainlng6ua1_ In NigeN; lAws 01 a-mncl\ In ",Rent.)!,
Abu..,
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Naira falls against dollar as CBN skips auction
N
gerta.s naira reueated
against
the dollar after strengthening last week as the central bank didn't hold a currency auctJon because d a public holJ·
da,
...
_-
LAGOS:
01-8446073, 0809433U71,
08023133084. 08034019884 ABWA:
08033020395, 080363210.14
The C\lm!nC)' "'""'" 0.3 per cent last week as the Central Bank d Ni· gerla sold $450 mUlion in Its regular Monday and
weeks. Yesrer"day'sauction wasn't held as markets were closed 10 celebrate Nigeria's 52nd year ~ lndependence. The naira has added 3.2 pen::ent this year, the besI: performer in AfHca, according to data compiled by Bloomberg. The currency's rally before this week was due
Wednesday auctions. the
10
largest amount In 5e\'en
ply by the central
The CllJT'OOCY of M· rica's biggest oil producer sUpped as much as 0.2 per. cent to 151..55 per doOat
and traded at 1S1:n as d 2:13 p.m. in Lagos.
"sufficient" dollar
Mixed reactions trail restructuring in aviation industry
su~
bank.
Eoobank
Transnaliooal Inc. analysIS, led by Paul· Harry Althnard in Parts, wrote in an e-malled note to clients today; "TIle naira outlook remains uncer· taIn" because ri stroDg lmport demand and a ..structural 1mbalance between dollar supply and demand." The West Aliican na· t ion relies on Imports to
meet more than 70 j)eI"CeI-. t d domestic fiJel rweds tx... cause d a lack ri reOnln~ capacl~ acmrding to th e Petroleum Mlnlsa-j The yield on Nlgerlas 16.39 percent damestic hoods due January m22 increased 11 basis poinlS to 12.82 peramt, acoon:ling to Sept. 28 data on the H
nanclal Markets DealeI'S Association website.
NCMadvices airport users to direct complaints to office
34
RATES
WAlfA
231.6271
USD
155.84
Ol'
159.2642
"'" aA
235.0535
Gal'
244.1701
E\JRO
191.3715
0.2924
I