According to US Commerce Secretary Penny Pritzker, the Nigerian government's foreign exchange policies over the past year are hindering the ability of US companies to do business in Nigeria.
US companies have “been quite explicit it’s a barrier to trade,” Pritzker said in an interview on Monday in Lagos.
The CBN, with Buhari’s backing, has tried stop the currency weakening amid a rout in prices of oil, by restricting imports and foreign exchange trading.
The apex bank has pegged the naira at 197-199 since March and foreign investors have sold naira bonds and stocks to avoid a devaluation they see as all but inevitable. Experts say the currency will weaken 20% to 249.5 per dollar in three months, while the black market rate fell to a record 305 this month.
The policies also hurt Nigerian manufacturers because they import about 52% of their inputs and need dollars to pay for those, she said.
“It sounds like you’re starting to see factory lay-offs,” Pritzker said. “That’s not good for Nigeria. And, of course, President Buhari is focused on inclusive growth. So, pointing out some of the contradictions between objectives and policies is part of the conversation we’ll have.”
Pritzker said she will raise the issue with President Muhammadu Buhari and Vice President Yemi Osinbajo in Abuja, the capital, on Tuesday.
Yahoo News
On the heel of President Barack Obama's comments that marijuana is no more dangerous than alcohol his deputy drug czar has reluctantly agreed.
Junaid Muhammed, in an interview with one of the leading newspaper in Nigeria promised that blood will flow if the present country president runs for 2015 general elections coming up February 2015 and that Southwest is a wear that the north should produce the next president.
I wonder what is wrong with northern leaders those that have served this country in various capacity and even trained in Russia as Medical doctor with our national resources still thinks low to the extant of making dangerous statement to the hearing of the world especially now Nigeria is experiencing security issues, though you have the right to express your self in democracy but not with security threat.
Blood is already flowing in Nigeria and he Junaid is not satisfied by the killings going on in the northeastern part of Nigeria by Bokoharam. Our Northern Elders should known that no body or tribe is more important than the other and they have lead this country since independent and were unable to help their people out of poverty and other social problems, rather the whole country was or still suffering backwardness from them, we are in the 21st century and every citizen of this country should think on how to give this country technology and not blood.
Infant he should be arrested by security agents to explain why he should making such statement.
Nigeria one of the largest economy in Africa and the largest market in Africa with a population above 170 million and the largest oil producing country on the continent of Africa, with a lot of human resources capable of producing everything for their domestic and international market is under developed as a result of lack of electric power, if Nigeria will have power for at least 12hours a day the economic condition will change automatically, unemployment and high cost of goods and services will reduce, imagine a country where a common hair dressers depends on small electric generator to keep their business going, cities as big as Lagos, Abuja, ABA, Onitsha to mention few depends on generator in order to provide goods and services, even as your reading this blog Nigeria is still in darkness when it will improve we cannot tell, all these was as a result of bad leadership and all those who put Nigeria into this backwardness are still clamoring for power to perpetually kill Nigeria, the best leader Nigeria will ever have will give this great country electric power.
Therefore, the best investors, Nigeria need now is in power, Nigerians are ready to pay for the service.
Bitter kola or garcinia kola known as (aku ilu ) in Igbo language of the Eastern part of Nigeria before now was not regarded by people as anything good, not until information about alternative Medicine began to spread around like wild fire from, the internet, radio,television, print media and so on, bitter Kola is now scarce and costly beyond the reach of a common man as a result of it's many uses such:
PREVENTION OF COUGH
Bitter Kola grounded or chewed directly will help to clear clogged troat especially during cold or winter,tuberculosis.
AS ANTI POISON
Elders or men who attend public meetings where wine will be shared together always go with bitter Kola to neutralize poison given to them by their enemies, bitter Kola also repel snakes, for those living in area prone with snake bite this will help to keep snakes out.
USE TO SUPPRESS HUNGER
Bitter Kola can help those who wish to control their appetite especially those suffering obesity to live better.
Those or men with weak erection should go for bitter or garcinia Kola to improve on their sexual life as this more natural without side effect, bitter Kola also reduces the effect of alcohol when chewed during wine party.
Further, more a lot of research are going on how best to utilize the benefit of bitter kola.
