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THE experts who gathered in Durban last week for a conference on how developing nations can "create and leverage intellectual property (IP)" did not have to go far for an example of what not to do. They simply had to peek at the government's own proposal for revamping IP, the subject of intense domestic debate in the two months since it was released. Click title to learn more
The Lekki-Epe Road Concession is a 30-year concession agreement between the Lagos State Government and a private company called LCC (Lekki Concession Company) in a Build Operate and Transfer (BOT) scheme. In the Public Private Partnership (PPP) framework, BOT is a model in which a single contract is awarded for the design, construction and operation of a capital project for a specified period. Ownership and control typically reverts back to the public after a specified period. Click title to learn more
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THE World Bank's mission and that of its International Finance Corporation (IFC) is simple: alleviate poverty and help people help themselves. The IFC dispenses about $4bn- $5bn a year in loans in the developing world, including sub-Saharan Africa. Unfortunately, the World Bank has been captured by environmental extremists who are far removed from the realities in poor countries. Click title to learn more
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When people in the rest of the world think of Nigeria, what they readily think is oil, the “black gold” that dominates the Nigerian economy. But if the Nigerian government and business leaders play their cards right, Nigeria will be known for another oil: palm oil. If so, this will mean a new and better day has dawned for Africa’s most populated country. Click title to learn more
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ENVIRONMENTAL groups from rich countries have for years waged a campaign against those in poor countries who want to harness their natural resources for economic growth. Their efforts threaten to do lasting harm to the aspirations of millions of poor people in Africa, Asia and Latin America, and must be resisted at all times and in all places. Click title to learn more
This initiative is meant to help the country restore its ravaged economy. But for Zim and other nations that lack the basic institutions required to build wealth, simply loaning or giving them money is not an effective strategy for reducing poverty. What's needed instead are programmes that foster the conditions that cause long-term prosperity and well-being.
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The Central Bank of Nigeria (CBN) has completed the audit of the remaining 14 banks. While some CEOs had been axed and the affected banks get bailout to the tune of N620 billion, it is incontrovertible that the banking sector is suffering from crisis of confidence. Already a vast number of people are unsure if there will not be a re-occurrence of the insiders’ abuse and account cooking. Click title to learn more
THE Central Bank of Nigeria (CBN) has completed an audit of 10 out of 24 banks, of which only five banks scaled through. Consequently, the Managing Directors (MDs) and Chief Executive Officers (CEOs) of the affected five banks were fired, followed by an injection of about $2.6 billion in convertible loan to stabilize the affected banks and preserve public confidence. Click title to learn more.
Nigeria tends to make headlines for corruption but it has made impressive progress in fighting counterfeit medicines, through the determined actions of its National Agency for Food and Drug Administration and Control (NAFDAC), started under the brave leadership of the legendary Dora Akunyili. These analysts describe their new research that updates their frightening discoveries of fakes in 2007. Click title to learn more.
AS the nation awaits the new helmsman at the Central Bank of Nigeria to be confirmed, there are anxieties over the monetary and fiscal policies that will be pursued by the apex bank during his tenure. The fears are predicated on what successive apex bank governors did: discontinue with the policies of their predecessors. While it is uncertain if there won't be policy change, what is important is whatever the monetary and fiscal policies change might be, the bank consolidation needs to be sustained and not reversed. Click title to learn more.
The world economy is in severe recession. Trade is deteriorating every day. Political pressures demand import restrictions to protect employment. This is what makes a depression great.
The G20 meets in London on Thursday in an attempt to kick-start the world economy. Of course, expectations are high because the stakes are high. Click title to learn more
Last year, the chief executive officers of banks requested the federalgovernment to intervene in the nation's financial sector to prevent the effect of the global meltdown. Building on that, there are reports that the federal government might soon be part owners of some banks. The reason adduced for this is primarily to guard against distress in the financial sector. Hitherto, the central bank governor has consistently assured that Nigerian banks are healthy, safe and in excellent conditions. Click title to learn more
Since September 2008, the World has been gripped with financial crisis that has simply overshadowed the two earlier crises: food and fuel. While the first two crises were caused by persistent rise in cost of oil and food for months, the financial crisis was caused by unsafe exposure of financial institutions to loans that were not well assessed. Click title to learn more.
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