nfEGUARDIAN,l\.resday. fuly 12, on
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Moneyline P21
Appointments P35
Home-grown economic models for development
Using entrepreneurship to ease unemployment crisis Oil prices [aU further on debt worries, demand UOE oil prtCt'S declinl"d for C second dilY on spccuL1tion thaL a slump in Chinese
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Imporu and risIng unemployment in the U.s. may io(hate ~I dem;lIld will falter In Ule world'S biggest audc<onsumIng nations. Crude for IIugun delivery on the Ne\v York Mercantile Exchange rell as much as 51118 to S94.32 a baITt'~ th e lo\\~ since July 5. and \ va5 at 5901.62 atl:S6 p_m_london time. nit' contr.lct droDPCd SI.47 to S96.2o on luly 8_ TIle prtce hu risen 26 pem:nl in the past )'!'.lr. Brent oil for August scnlement dC'Clined Sun. or 1.8 pert:ent, to S1I6.26 a barrel on ule london· based ICE Futurts Europc exchange. The Europc.1n benchmarie: con tract w;u: ilt a premi· urn of Sl\.6.ot a barrel to U.s.
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Furures sUpped as much as tWO percent arter gOVf!rnmenl reportS in China showed net oil imporu shr.ank 10 I)t'rt:ent In Junt' to the lowest in eight months, according to Bloomberg almlatlons, whi1 t Inflation surged to a Ul rer-ycar high. II July 8 Labour Departmt'nt report showed Group tot.IIII;lnl Direclor, UAC Group Niceria PIc, Larry Enah (lell): ManacincDirecTor. Prom.sidor Nfleril, Keilh Richards: PresidenT. Ni,IIriOUl -Ikilish Chamberol Commen:e, Thomas "walll: thilt the unemployment rate "-- -Oedly rme to me high. and Oivisional Mana,,"' OIrotlDl', MOS lo"sTics. I divbion of UtllC. Solomon AIIfba~bo:a. II. bleakfasl meellnB. hosled by Ihl ~hamber,ln lagos, liThe wukend.
Govtunfolds agenda for attracting N34tr investment inflow Fonnally inaugurates Trade and Investment ministry By AlhI Ogldnn.
Busine~1
Editor
NlS trillion [r'M!'ilrnent [rlf\oW inlD tJ'C t'mnOIny wimin lOur ~ in
For the N34 trillion investment inflow projection, the Federal Government would account for NIO trillion; state governments, N9 trillion; and private sector, NI51rillion,
Under the progr.!mme, UIC governmcnt p lans to [Teale fhl'C'e mtllion jobs }'r,uly, to addr~s the country's as~ high unemploymcnllevr:1. f'Or e!Teet, lhe govt'lTIment, also )'t'Ste«lay. rormally Inaugurated the Ministry oT Thtde ilnd Im'eStment, wit h Dr. Olu~n Agilngil .ll its pioneer minister.
The vision 20:2020 documents prescnbt'd NJ1 trtlllon Im~unents in growth art'as, "ithln the nm four years, to put tht' economy on the path or SWLlinable gmv"th, ror lhc ~ nol1llc dMlopment ilgen-d" For the N34 trill ion Investment Inflow projection, the Feder.ll Government would account for film trillion; st.1te
ry1-IEr~IGo.!'mlnenl,~.
1 ~ Ull\'C::11ed a roodm<lp t(l\\rui:\s achiel.1ng the ~
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glM:rnments. f119 IliHion: and privatc SKlar, fillS trillion. It was. hO\veYf: r not clear hO\v the g~ment plans to O\'ercomt' l he budgetary conStr.lints toachievethet.l~ct.
For Inst.lllce. only Nl tn lion was provisionoo in th~ 2011 " ,)It.ll budget ror the scheme, even assournsexprcssed9f)timlsm O\l~r the cap<ICltt of the _ t_o'_ '_O_,_, _h privalc_ ",
YO Slate fanners
have expre!i~ed optimism that Ule release of ule N75 billion racility rrom Cl"nlTal Bank of Nlgcri<l (rnN~ under Its agr!cultur.ll loan scheme, wou ld • upgr.KIt'theprofilcofuleopcrat/ons. III Maleau State, Governor 10n.1h jang said his ad mlnlstralion speIlt alJout NIObillob on
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.lJtrirullural talning Ct'om::s in tIll' lASt rourye.us, Elcgbcde, told the Ncn'$ A,gcrX)' of Nigcm. In Ibddirn, ~tt~ m,lI the loan, which was under lht' Agricultural CredIt Guarantee Scheme of the CBN, was not neo.v to farmmintJleSldte. Elegbcde complaln«l thaI many fanners in the state did
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STARRY GOlD ACADEMY
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not beneflt from the inillati\'~ In Ull' 2008 «lilian due to COlTUptiOn. He hQ\.\-a-er, expressed conOdt' nct' in tht' resol\'t' ohhe fonaul<In admlllIstr.ltion tonowensurra lr.Insparent disbursement exercise, which would boost food pro-
mOlion toward <lSSt'ssment or the loan scheme WIll'llCVer the statr gove rnment is gtve n \\!halls due to it, he said. E1tgbede, who commend· ed ttlli' fedenl gO\'!'rnmefll for orot'l1ng the disbursement dS me planting se.l5On was t.1klng 01T. urged the CBN to expedite
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CON'TINUEO ON PAGE 20
ductionlnmecoun~
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LECTURES
O\vrrtJ.rgct_ BU( g(M:'rnme11l sourt:es said the renewed rocus or the currelit ildmlniSU<ltlon would ensure the actwlisation of the prtvatt' sector's achievement or lIS own t.1rget. ",ith add~ suppon foc the public SKlor ope rators, g lVt'n th~ opt'r.Itlon al p rofile or thc new Ministry or Trade and InwsonenL Under the neo.\' ministry. tht' small and medium mterprtsh' h h ,,' , es, w IC arc I e aCIIJ10W.edged bedrock of growth In adva nced «anomIes. will enjoy lhe special anrmion th.at \\III[ en.1ble them to pt'fform tht'lr roles t'mcicntly,
Fanners await CBN's N7Sb facility, Plateau spends NIOb on agric centres
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