News
Economist forecasts better performance for Naira
By Our Correrspondent with agency reports
An economist, Prof. Hassan Oaikhenan of the Department of Economics and Statistics, University of Benin, said the foreign exchange environment would likely witness some favourable effects in 2018.
He predicted that there would be massive inflow of foreign exchange into the country as politicians would need them to fund their electioneering campaigns ahead of 2019 general polls.
Oaikhenan, however, said the inflationary trend might continue in view of the increased liquidity or excess cash in circulation.
“As we approach 2019, we expect that a lot of money will be released into the system on account of political activities that year; that has potential implications for the economy.
“We are likely to see the repatriation of foreign exchange that has been kept away by some of these politicians, that is also likely to have a favourable effect on the naira.
“It means that naira will experience slight appreciation.
“There will be so much liquidity as a result of financing the election in the succeeding year, so inflation would persist” he said.
Oaikhenan decried the poor performance of the energy sector in outgoing year.
He said the economic outlook for the coming year would remain bleak if urgent steps were not taken to address the challenges in the power sector.
According to him, the power sector has held the industrial sector down.
He said that there was serious disconnect between the principles of the 2017 budget and its implementation.
The don called for full liberalisation of the energy sector to encourage competitiveness and allow more investors to come in.
According to him, current activities of power generating and distribution companies have not justified the privatisation policy.
“The outlook is generally bleak; it is not particularly promising, especially from the backdrop of the fact that not much is achieved in the outgoing year.
“Events in the energy sector are pivotal to the national economy, so it does not call for so much optimism.
“I will score the implementation of the 2017 budget low, the evidences are there; infrastructure development is particularly not impressive, it is not hard for us to see that the roads are in bad shape.
“The energy sector did not fare well, power outage characterised the system and that adversely affected the industrial sector negatively with high running cost.
“As a result poor performance of the energy sector, the contribution of the industrial sector to the Gross Domestic Products (GDP) did not go beyond 20 per cent which it had hovered over time” he said.
He said that power generation had reached an irritating dimension where it appeared that there are no quick fix approaches to it.
“The system as it is configured now cannot generate electricity to satisfy the need of the industrial sector and the entire economy.
“There is a disconnect between the budget as proposed and the implementation proper that brings the question of how religious the government follows its budgets in a bid to trigger economic development.”
He called on President Muhammadu Buhari to consider reshuffling his cabinet and look beyond his party for experts that could provide answer to some of the national economic questions.
Former President Goodluck Ebele Jonathan and former First Lady Patience Ibifaka Jonathan recently celebrated a significant family milestone as they attended the graduation ceremony of their son, Ariara Goodluck Jonathan, at Manchester Metropolitan University in the United Kingdom.
The proud parents joined family members and well-wishers to witness Ariara receive his degree, marking the successful completion of his academic programme. The occasion was filled with joy as the Jonathan family commemorated the achievement, highlighting the importance they place on education and personal development.
The graduation ceremony attracted warm congratulatory messages from friends, associates, and admirers, who wished the graduate continued success in his future endeavours.
The Following names joined the political family of Sen. Dr. George Akume today after leaving the sinking Alia ship .
Under the leadership of Barr. Emmanuel Jime .
The are ;
Chief Nelson Alapa
Douglas pepe SAN senatorial Aspirant zone A,
Engr Peter Ashiekaa
QS Clement Beetseh
Former commissioners
Joy Luga
Ann itodo
Barr martins Shaagee
Miss Dorcas
Prof Usar Joseh
Prof Cephas Tushima
Chief Patrick Idoko
Hon Patience Akor
Hon Fred Idoko
Hon Lawrence Ekpo Onoja Jnr
Hon Andrew Abah
Hon Agbo Innocent Ikwumonu
Hon Simon Omachoko
Hon David Egboja
Dr John Garba
Among together,
Engr. Bello Babayo Bello, FNSE, Executive Director (Networks) of the Niger Delta Power Holding Company (NDPHC), has extended his heartfelt congratulations to Vice President Senator Kashim Shettima, GCON, on his renomination as the Vice Presidential candidate for the 2027 general elections, alongside President Bola Ahmed Tinubu, GCFR.
In his message, Engr. Bello described the renomination as a beautiful affirmation of the Vice President’s enduring commitment to Nigeria’s unity, stability, and prosperity. He noted that Senator Shettima, himself a former Senator of the Federal Republic, has consistently embodied resilience, foresight, and a deep sense of responsibility, qualities that continue to inspire confidence across the nation.
“This renomination is a shining testament to your unwavering dedication to the Nigerian people,” Engr. Bello stated. “It reflects the trust of the party and the citizens in your ability to guide our country toward greater progress, peace, and prosperity. Your leadership has been a beacon of hope, and this endorsement is richly deserved.”
Engr. Bello further emphasized that Senator Shettima’s political journey has been marked by courage and service. From his tenure as Governor of Borno State to his current role as Vice President, he has consistently championed initiatives that address national challenges, foster economic growth, and promote inclusive development.
As a leader in the power sector, Engr. Bello highlighted the importance of visionary leadership in driving infrastructure and energy reforms. He expressed confidence that Senator Shettima’s continued role in government will further strengthen Nigeria’s capacity to deliver reliable power, expand opportunities, and improve the quality of life for millions of citizens.
He prayed that Almighty Allah grants the Vice President wisdom, strength, and good health to continue serving the nation with distinction. “May Allah bless your efforts, guide your decisions, and grant you success as you carry forward the responsibility of leadership,” he added.
The message concluded with a reaffirmation of goodwill and support: “Congratulations once again, Your Excellency. We look forward to your continued contributions to the peace, progress, and prosperity of Nigeria.”
Signed:Engr. Bello Babayo Bello, FNSEExecutive Director (Networks)Niger Delta Power Holding Company (NDPHC)
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