Development Economist, Professor Ken Ife, has urged the Federal Government to take a very good look at the World Bank report tagged Nigeria’s Developmental update to aid National Development and do the right thing.
Professor Ken Ife who was speaking to TVC News’s Tolulope Ogunjobi on Business Nigeria said the Federal Government must pay heed to the report and address the issues raised in them.
He added that the issues fuelling instability are still with us and cannot be resolved anytime soon.
He listed issues such as high cost of fuel, unemployment, Investment vapourising away and the lack of Foreign Portfolio investments.
He said the nation has also failed to take advantage of the high Cost of Crude due to the low level of production.
He said the failure to make good use of the High crude cost has resulted in the nation making only 300 Million American Dollars as against the expected receipt of 3 Billion Dollars monthly making it difficult to break even with a bill of 1.8 Billion Dollars to pay.
He added that the import bill is at 4.3 Billion Dollars with arrears mounting daily making it excruciating to service the loans.
He identified flood as another factor that has made prices of food items further up with prices of Petroleum products also rising astronomically.
He described Insecurity as a major factor that has made it impossible for Investors to invest and create productive activities that will lead to the production of disposable income that people can spend to prevent cyclical poverty.
He commended the Federal Government for all the structural measures being put in place to enhance government’s income from the current abysmal 7% of GDP to about 14% meaning a doubling of revenue that will help tremendously.
He also called for action to be taken against the 500 Billion Naira monthly for subsidy which he described as unacceptable.
Going Further, he said the provision for the utilisation of gas in the Petroleum Industry Act should be taken advantage of and used to push the gas usage agenda forward.
He disclosed that gas exploitation is easier to make than Crude Oil.
He added that all efforts should be paid to harnessing the nations’ gas reserves with the highest on the continent of Africa and eight in the World.
On the issue of purchasing power for the average Nigerian during the festive season, he said the trend will continue to rise and probably into the first quarter of 2023 which will soon ease from March.
He said the rate increase by the Central Bank of Nigeria will help in a way to reduce money in circulation but more needs to be done to bring it down.
Development Economist, Professor Ken Ife, has urged the Federal Government to take a very good look at the World Bank report tagged Nigeria’s Developmental update to aid National Development and do the right thing.
Professor Ken Ife who was speaking to TVC News’s Tolulope Ogunjobi on Business Nigeria said the Federal Government must pay heed to the report and address the issues raised in them.
He added that the issues fuelling instability are still with us and cannot be resolved anytime soon.
He listed issues such as high cost of fuel, unemployment, Investment vapourising away and the lack of Foreign Portfolio investments.
He said the nation has also failed to take advantage of the high Cost of Crude due to the low level of production.
He said the failure to make good use of the High crude cost has resulted in the nation making only 300 Million American Dollars as against the expected receipt of 3 Billion Dollars monthly making it difficult to break even with a bill of 1.8 Billion Dollars to pay.
He added that the import bill is at 4.3 Billion Dollars with arrears mounting daily making it excruciating to service the loans.
He identified flood as another factor that has made prices of food items further up with prices of Petroleum products also rising astronomically.
He described Insecurity as a major factor that has made it impossible for Investors to invest and create productive activities that will lead to the production of disposable income that people can spend to prevent cyclical poverty.
He commended the Federal Government for all the structural measures being put in place to enhance government’s income from the current abysmal 7% of GDP to about 14% meaning a doubling of revenue that will help tremendously.
He also called for action to be taken against the 500 Billion Naira monthly for subsidy which he described as unacceptable.
Going Further, he said the provision for the utilisation of gas in the Petroleum Industry Act should be taken advantage of and used to push the gas usage agenda forward.
He disclosed that gas exploitation is easier to make than Crude Oil.
He added that all efforts should be paid to harnessing the nations’ gas reserves with the highest on the continent of Africa and eight in the World.
On the issue of purchasing power for the average Nigerian during the festive season, he said the trend will continue to rise and probably into the first quarter of 2023 which will soon ease from March.
He said the rate increase by the Central Bank of Nigeria will help in a way to reduce money in circulation but more needs to be done to bring it down.
Development Economist, Professor Ken Ife, has urged the Federal Government to take a very good look at the World Bank report tagged Nigeria’s Developmental update to aid National Development and do the right thing.
Professor Ken Ife who was speaking to TVC News’s Tolulope Ogunjobi on Business Nigeria said the Federal Government must pay heed to the report and address the issues raised in them.
He added that the issues fuelling instability are still with us and cannot be resolved anytime soon.
He listed issues such as high cost of fuel, unemployment, Investment vapourising away and the lack of Foreign Portfolio investments.
He said the nation has also failed to take advantage of the high Cost of Crude due to the low level of production.
He said the failure to make good use of the High crude cost has resulted in the nation making only 300 Million American Dollars as against the expected receipt of 3 Billion Dollars monthly making it difficult to break even with a bill of 1.8 Billion Dollars to pay.
He added that the import bill is at 4.3 Billion Dollars with arrears mounting daily making it excruciating to service the loans.
He identified flood as another factor that has made prices of food items further up with prices of Petroleum products also rising astronomically.
He described Insecurity as a major factor that has made it impossible for Investors to invest and create productive activities that will lead to the production of disposable income that people can spend to prevent cyclical poverty.
He commended the Federal Government for all the structural measures being put in place to enhance government’s income from the current abysmal 7% of GDP to about 14% meaning a doubling of revenue that will help tremendously.
He also called for action to be taken against the 500 Billion Naira monthly for subsidy which he described as unacceptable.
Going Further, he said the provision for the utilisation of gas in the Petroleum Industry Act should be taken advantage of and used to push the gas usage agenda forward.
He disclosed that gas exploitation is easier to make than Crude Oil.
He added that all efforts should be paid to harnessing the nations’ gas reserves with the highest on the continent of Africa and eight in the World.
On the issue of purchasing power for the average Nigerian during the festive season, he said the trend will continue to rise and probably into the first quarter of 2023 which will soon ease from March.
He said the rate increase by the Central Bank of Nigeria will help in a way to reduce money in circulation but more needs to be done to bring it down.
Development Economist, Professor Ken Ife, has urged the Federal Government to take a very good look at the World Bank report tagged Nigeria’s Developmental update to aid National Development and do the right thing.
Professor Ken Ife who was speaking to TVC News’s Tolulope Ogunjobi on Business Nigeria said the Federal Government must pay heed to the report and address the issues raised in them.
He added that the issues fuelling instability are still with us and cannot be resolved anytime soon.
He listed issues such as high cost of fuel, unemployment, Investment vapourising away and the lack of Foreign Portfolio investments.
He said the nation has also failed to take advantage of the high Cost of Crude due to the low level of production.
He said the failure to make good use of the High crude cost has resulted in the nation making only 300 Million American Dollars as against the expected receipt of 3 Billion Dollars monthly making it difficult to break even with a bill of 1.8 Billion Dollars to pay.
He added that the import bill is at 4.3 Billion Dollars with arrears mounting daily making it excruciating to service the loans.
He identified flood as another factor that has made prices of food items further up with prices of Petroleum products also rising astronomically.
He described Insecurity as a major factor that has made it impossible for Investors to invest and create productive activities that will lead to the production of disposable income that people can spend to prevent cyclical poverty.
He commended the Federal Government for all the structural measures being put in place to enhance government’s income from the current abysmal 7% of GDP to about 14% meaning a doubling of revenue that will help tremendously.
He also called for action to be taken against the 500 Billion Naira monthly for subsidy which he described as unacceptable.
Going Further, he said the provision for the utilisation of gas in the Petroleum Industry Act should be taken advantage of and used to push the gas usage agenda forward.
He disclosed that gas exploitation is easier to make than Crude Oil.
He added that all efforts should be paid to harnessing the nations’ gas reserves with the highest on the continent of Africa and eight in the World.
On the issue of purchasing power for the average Nigerian during the festive season, he said the trend will continue to rise and probably into the first quarter of 2023 which will soon ease from March.
He said the rate increase by the Central Bank of Nigeria will help in a way to reduce money in circulation but more needs to be done to bring it down.
Development Economist, Professor Ken Ife, has urged the Federal Government to take a very good look at the World Bank report tagged Nigeria’s Developmental update to aid National Development and do the right thing.
Professor Ken Ife who was speaking to TVC News’s Tolulope Ogunjobi on Business Nigeria said the Federal Government must pay heed to the report and address the issues raised in them.
He added that the issues fuelling instability are still with us and cannot be resolved anytime soon.
He listed issues such as high cost of fuel, unemployment, Investment vapourising away and the lack of Foreign Portfolio investments.
He said the nation has also failed to take advantage of the high Cost of Crude due to the low level of production.
He said the failure to make good use of the High crude cost has resulted in the nation making only 300 Million American Dollars as against the expected receipt of 3 Billion Dollars monthly making it difficult to break even with a bill of 1.8 Billion Dollars to pay.
He added that the import bill is at 4.3 Billion Dollars with arrears mounting daily making it excruciating to service the loans.
He identified flood as another factor that has made prices of food items further up with prices of Petroleum products also rising astronomically.
He described Insecurity as a major factor that has made it impossible for Investors to invest and create productive activities that will lead to the production of disposable income that people can spend to prevent cyclical poverty.
He commended the Federal Government for all the structural measures being put in place to enhance government’s income from the current abysmal 7% of GDP to about 14% meaning a doubling of revenue that will help tremendously.
He also called for action to be taken against the 500 Billion Naira monthly for subsidy which he described as unacceptable.
Going Further, he said the provision for the utilisation of gas in the Petroleum Industry Act should be taken advantage of and used to push the gas usage agenda forward.
He disclosed that gas exploitation is easier to make than Crude Oil.
He added that all efforts should be paid to harnessing the nations’ gas reserves with the highest on the continent of Africa and eight in the World.
On the issue of purchasing power for the average Nigerian during the festive season, he said the trend will continue to rise and probably into the first quarter of 2023 which will soon ease from March.
He said the rate increase by the Central Bank of Nigeria will help in a way to reduce money in circulation but more needs to be done to bring it down.
Development Economist, Professor Ken Ife, has urged the Federal Government to take a very good look at the World Bank report tagged Nigeria’s Developmental update to aid National Development and do the right thing.
Professor Ken Ife who was speaking to TVC News’s Tolulope Ogunjobi on Business Nigeria said the Federal Government must pay heed to the report and address the issues raised in them.
He added that the issues fuelling instability are still with us and cannot be resolved anytime soon.
He listed issues such as high cost of fuel, unemployment, Investment vapourising away and the lack of Foreign Portfolio investments.
He said the nation has also failed to take advantage of the high Cost of Crude due to the low level of production.
He said the failure to make good use of the High crude cost has resulted in the nation making only 300 Million American Dollars as against the expected receipt of 3 Billion Dollars monthly making it difficult to break even with a bill of 1.8 Billion Dollars to pay.
He added that the import bill is at 4.3 Billion Dollars with arrears mounting daily making it excruciating to service the loans.
He identified flood as another factor that has made prices of food items further up with prices of Petroleum products also rising astronomically.
He described Insecurity as a major factor that has made it impossible for Investors to invest and create productive activities that will lead to the production of disposable income that people can spend to prevent cyclical poverty.
He commended the Federal Government for all the structural measures being put in place to enhance government’s income from the current abysmal 7% of GDP to about 14% meaning a doubling of revenue that will help tremendously.
He also called for action to be taken against the 500 Billion Naira monthly for subsidy which he described as unacceptable.
Going Further, he said the provision for the utilisation of gas in the Petroleum Industry Act should be taken advantage of and used to push the gas usage agenda forward.
He disclosed that gas exploitation is easier to make than Crude Oil.
He added that all efforts should be paid to harnessing the nations’ gas reserves with the highest on the continent of Africa and eight in the World.
On the issue of purchasing power for the average Nigerian during the festive season, he said the trend will continue to rise and probably into the first quarter of 2023 which will soon ease from March.
He said the rate increase by the Central Bank of Nigeria will help in a way to reduce money in circulation but more needs to be done to bring it down.
Development Economist, Professor Ken Ife, has urged the Federal Government to take a very good look at the World Bank report tagged Nigeria’s Developmental update to aid National Development and do the right thing.
Professor Ken Ife who was speaking to TVC News’s Tolulope Ogunjobi on Business Nigeria said the Federal Government must pay heed to the report and address the issues raised in them.
He added that the issues fuelling instability are still with us and cannot be resolved anytime soon.
He listed issues such as high cost of fuel, unemployment, Investment vapourising away and the lack of Foreign Portfolio investments.
He said the nation has also failed to take advantage of the high Cost of Crude due to the low level of production.
He said the failure to make good use of the High crude cost has resulted in the nation making only 300 Million American Dollars as against the expected receipt of 3 Billion Dollars monthly making it difficult to break even with a bill of 1.8 Billion Dollars to pay.
He added that the import bill is at 4.3 Billion Dollars with arrears mounting daily making it excruciating to service the loans.
He identified flood as another factor that has made prices of food items further up with prices of Petroleum products also rising astronomically.
He described Insecurity as a major factor that has made it impossible for Investors to invest and create productive activities that will lead to the production of disposable income that people can spend to prevent cyclical poverty.
He commended the Federal Government for all the structural measures being put in place to enhance government’s income from the current abysmal 7% of GDP to about 14% meaning a doubling of revenue that will help tremendously.
He also called for action to be taken against the 500 Billion Naira monthly for subsidy which he described as unacceptable.
Going Further, he said the provision for the utilisation of gas in the Petroleum Industry Act should be taken advantage of and used to push the gas usage agenda forward.
He disclosed that gas exploitation is easier to make than Crude Oil.
He added that all efforts should be paid to harnessing the nations’ gas reserves with the highest on the continent of Africa and eight in the World.
On the issue of purchasing power for the average Nigerian during the festive season, he said the trend will continue to rise and probably into the first quarter of 2023 which will soon ease from March.
He said the rate increase by the Central Bank of Nigeria will help in a way to reduce money in circulation but more needs to be done to bring it down.
Development Economist, Professor Ken Ife, has urged the Federal Government to take a very good look at the World Bank report tagged Nigeria’s Developmental update to aid National Development and do the right thing.
Professor Ken Ife who was speaking to TVC News’s Tolulope Ogunjobi on Business Nigeria said the Federal Government must pay heed to the report and address the issues raised in them.
He added that the issues fuelling instability are still with us and cannot be resolved anytime soon.
He listed issues such as high cost of fuel, unemployment, Investment vapourising away and the lack of Foreign Portfolio investments.
He said the nation has also failed to take advantage of the high Cost of Crude due to the low level of production.
He said the failure to make good use of the High crude cost has resulted in the nation making only 300 Million American Dollars as against the expected receipt of 3 Billion Dollars monthly making it difficult to break even with a bill of 1.8 Billion Dollars to pay.
He added that the import bill is at 4.3 Billion Dollars with arrears mounting daily making it excruciating to service the loans.
He identified flood as another factor that has made prices of food items further up with prices of Petroleum products also rising astronomically.
He described Insecurity as a major factor that has made it impossible for Investors to invest and create productive activities that will lead to the production of disposable income that people can spend to prevent cyclical poverty.
He commended the Federal Government for all the structural measures being put in place to enhance government’s income from the current abysmal 7% of GDP to about 14% meaning a doubling of revenue that will help tremendously.
He also called for action to be taken against the 500 Billion Naira monthly for subsidy which he described as unacceptable.
Going Further, he said the provision for the utilisation of gas in the Petroleum Industry Act should be taken advantage of and used to push the gas usage agenda forward.
He disclosed that gas exploitation is easier to make than Crude Oil.
He added that all efforts should be paid to harnessing the nations’ gas reserves with the highest on the continent of Africa and eight in the World.
On the issue of purchasing power for the average Nigerian during the festive season, he said the trend will continue to rise and probably into the first quarter of 2023 which will soon ease from March.
He said the rate increase by the Central Bank of Nigeria will help in a way to reduce money in circulation but more needs to be done to bring it down.
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