Moody’s: Dollar Scarcity Remains Key Challenge for Firms in Nigeria Says national growth prospects attractive External reserves record marginal increase Obinna Chima While subdued United States dollar supply in the context of prolonged lower oil prices remains a key challenge for
corporate bodies in Nigeria, especially those companies constrained by foreign exchange (FX) restrictions on certain imports, growth prospects for the country
over the next three years are attractive, Moody’s Investors Service said in a report yesterday. The report titled: ‘Corporates Nigeria: US Dollar Scarcity
Remains Key Challenge to Improvement in the Corporate Sector,’ was posted on the global rating agency’s website. This is just as the data on the Central Bank of Nigeria’s
(CBN) website showed that the country’s external reserves recorded an increase of $216 million in two weeks, from the $23.948 billion it was on November 1, to $24.164 billion
as at November14, 2016. In an effort to meet part of the pent up demand for FX, the CBN recently ramped up Continued on page 8
FG Begins Release of N100bn for Constituency Projects...
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Thursday 17 November, 2016 Vol 21. No 7882. Price: N250
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Again, Osinbajo, APC Governors, N’Assembly Leadership Meet Today Agitation for inclusive governance persists Board, ambassadorial appointments still contentious
Olawale Olaleye Vice-President Yemi Osinbajo, governors elected on the platform of the All Progressives Congress (APC) and some of the party’s leaders in the National Assembly are billed to meet today again at the State House, Abuja, three days after their first meeting, which did not achieve much.
As a follow-up to the Monday meeting, today’s meeting, THISDAY checks at the Presidency suggest, is meant to revisit the pending appointments into boards of parastatals as well as the list of the non-career ambassadors earlier thrown out by the Senate. Continued on page 9
With Continuing US Embargo, Nigeria Looks to Russia, Pakistan, Others for Arms NAF to add 10 attack aircraft to inventory
Senator Iroegbu in Abuja
The federal government has responded to the arms embargo imposed on Nigeria by the United States of America, turning to countries in the Eastern and Southern
hemisphere, including Russia, Pakistan and Brazil, to acquire arms and military arsenal for the counter-terrorism operations in the North-eastern part of the country. Continued on page 9
Senate, ASUU Meeting over Strike Ends in Deadlock... Page 8
UI HOLDS CONVOCATION LECTURE...
L R: Convocation Lecturer, Prof Bolaji Akinyemi; Emeritus Prof. Oladipo Akinkugbe and Vice Chancellor University of Ibadan, Prof. Idowu Olayinka, at University of Ibadan 2016 Convocation Lecture in Ibadan... Wednesday felix ademola