ABUJA—In spite of the hype on the effect of the global economic meltdown on the nation’s economy, the Minister of Works, Housing and Urban Development, Dr. Hassan Muhammad Lawal has said the country’s economy was strong and offered the best investment opportunity in Africa.
Dr. Lawal who stated this while welcoming the proposal by the Turkish Construction Giant TASYAPI Construction Undertaking to participate in the construction industry in Nigeria, said the fact the country is enjoying stable polity glitters its fortune as investment hobnob in the continent.
Led by the General Manager and member of the Board of TASYAPI Construction Undertaking, Mr. Goksel Bodur, the Minister assured the Turkish Firm that Nigerian economy was strong and the polity stable and offered the best investment opportunity in Africa.
He recalled that Nigeria and Turkey have a very cordial bilateral relationship and told the Turkish delegation that they had nothing to fear.
He said the coming of the Turkish company into the Nigerian construction industry would strengthen the existing cordial bilateral ties between Nigeria and Turkey.
He urged the company to comply with legal stipulations for business operations in Nigeria, and explore their areas of interest with relevant officials in the Ministry.
The Minister also called on them to participate in joint venture schemes with the Ministry to provide beautiful and affordable housing schemes for Nigerians, noting that the sector was very viable and lucrative.
He said the Federal Government will welcome the injection of international capital and investment in the housing sector to ease the problem of affordable and decent housing in the country.
Addressing the Minister earlier, leader of the Turkish delegation Mr. Goksel Bodur said they were the third largest construction company in Turkey and were currently involved in construction projects in Europe, Asia and the Middle East.
Written by Chris Ochayi
Tuesday, 03 March 2009
Showing posts with label Economic. Show all posts
Showing posts with label Economic. Show all posts
Thursday, March 5, 2009
Wednesday, February 11, 2009
South Africa invests $16 billion to create jobs, cut poverty
South Africa will invest an additional 161 billion rand over the next three years to create jobs and reduce poverty as the effects of a global financial crisis weigh on the economy.
The government has allocated 25 billion rand to provinces to expand no-fee schools, reduce infant and child mortality and improve welfare services.
The government will concentrate on its expanded public works programme to try and rein in mounting job losses, mainly in the mining and manufacturing sectors, where shrinking exports and lower commodity prices place tens of thousands of jobs at risk.
The government will spend 4.1 billion rand on the public works programme and an additional 7.9 billion rand for housing and municipal infrastructure.
A further 5.4 billion rand will go to improve the criminal justice system and increase the number of police officials from 183,000 last year to over 204,000 in 2011/12.
The government has allocated 25 billion rand to provinces to expand no-fee schools, reduce infant and child mortality and improve welfare services.
The government will concentrate on its expanded public works programme to try and rein in mounting job losses, mainly in the mining and manufacturing sectors, where shrinking exports and lower commodity prices place tens of thousands of jobs at risk.
The government will spend 4.1 billion rand on the public works programme and an additional 7.9 billion rand for housing and municipal infrastructure.
A further 5.4 billion rand will go to improve the criminal justice system and increase the number of police officials from 183,000 last year to over 204,000 in 2011/12.
S.Africa ramps up spending to fight slowing growth
CAPE TOWN (Reuters) - South Africa ramped up spending in its 2009 budget and cut taxes to counter a global slowdown and boost an economy seen limping to its lowest rate of growth in more than a decade.
Finance Minister Trevor Manuel also delayed the introduction of mineral royalties until next year as miners struggle amid falling commodity prices and easing global demand.
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Finance Minister Trevor Manuel also delayed the introduction of mineral royalties until next year as miners struggle amid falling commodity prices and easing global demand.
Read More
Angola's government will cut spending in 2009
Angola's government will cut spending in 2009 and bolster efforts to diversify the oil dependent economy to counter the global economic slowdown.
The government would continue to invest in key sectors like agriculture in a bid to improve the lives of ordinary Angolans -- an estimated two-thirds live on less than $2 a day.
The country's Economy minister Manuel Nunes said "We will continue to carry out efforts to fight hunger, poverty and implement key public investments."
The government, which in December forecast the economy in 2009 to grow 11.8 percent, has also said it could revise these estimates in the face of the global economic slowdown.
It has also pledged to spend $50 billion to build one million new homes for the poor in the next five years.
The government would continue to invest in key sectors like agriculture in a bid to improve the lives of ordinary Angolans -- an estimated two-thirds live on less than $2 a day.
The country's Economy minister Manuel Nunes said "We will continue to carry out efforts to fight hunger, poverty and implement key public investments."
The government, which in December forecast the economy in 2009 to grow 11.8 percent, has also said it could revise these estimates in the face of the global economic slowdown.
It has also pledged to spend $50 billion to build one million new homes for the poor in the next five years.
Tuesday, February 10, 2009
USA - Breaking News
Senate passes $838B STIMULUS PLAN. The plan was approved by vote of 61 to 37.
Pres. Obama on the economy:
- hails passage of senate stimulus bill
- plan will save or create "up to 4 million jobs"
- "we can use this crisis & turn it into an opportunity"
- middle-class tax cuts " the best way" to help
- "I expect to be judged by results"
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Pres. Obama on the economy:
- hails passage of senate stimulus bill
- plan will save or create "up to 4 million jobs"
- "we can use this crisis & turn it into an opportunity"
- middle-class tax cuts " the best way" to help
- "I expect to be judged by results"
Read More
Wednesday, February 4, 2009
Improved Infrastructure Key To Economic, Social Progress In Africa
Addressing an African Union (AU) summit focused on enhancement of the continent’s poor infrastructure, United Nations Secretary General Ban Ki-moon said today that public works were the cornerstone to economic and social progress.
“Africa needs good roads, schools and hospitals; as well as reliable and efficient water services, electricity grids and telecom networks, while information and communications technologies must also be a bigger part of Africa's future,” Mr. Ban told leaders of the 53-State organization, meeting in Addis Ababa, Ethiopia.
Read More
“Africa needs good roads, schools and hospitals; as well as reliable and efficient water services, electricity grids and telecom networks, while information and communications technologies must also be a bigger part of Africa's future,” Mr. Ban told leaders of the 53-State organization, meeting in Addis Ababa, Ethiopia.
Read More
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