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Following the National crises that has caught up with Nigeria, the Nigeria Labour Congress, has  decided to suspend its strike action. The decision to suspend the strike were taken after agreements were reached and documents signed pertaining the suspension. The Chairman of the committe, Amma Pepple said, report of the agreements will be sent to  President Buhari on Tuesday. Although suspended. but has already been stated when to resume the strike. The strike is expected to  be returned to on Tuesday, as a means to ensure that the Government meets to their demand. The Nigeria Labour Congress propossed a N30,000 minimum wage but the Government is opposing it with N24,000 but it should be known that no agreement has been reached concerning the increment of the minimum wage.

The Nigerian National Petroleum Corporation (NNPC) has assured Nigerians that there will not be scarcity of petroleum products, despite workers’ insistence on proceeding on a nationwide strike from November 6. NNPC’s spokesperson, Ndu Ughamadu, stated this in a statement issued on Sunday. Ughamadu assured that the corporation has a stock of petroleum products to sustain a minimum of 39 days sufficiency and about 25 days availability on land. “The corporation had 39 days petroleum products sufficiency and about 25 days products availability on land. “Motorists and other consumers of petroleum products are assured of adequate stock to meet their energy needs,” he said. Rumours of possible fuel scarcity as a result of the strike began when oil unions pledged to join the strike. The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and the National Union of Petroleum and Natural Gas Workers (NUPENG) had both declared their readiness to wit...

China reported slower manufacturing growth in October for the second straight month as the country's trade war dispute with the U.S. continues. Official manufacturing Purchasing Managers' Index (PMI) was 50.2 — lower than the 50.6 that analysts expected in a Reuters poll. The official manufacturing PMI was 50.8 in September. The official PMI reading for October was the lowest since July 2016, with the production and new orders sub-indices also falling from a month ago. New export orders contracted for the fifth straight month. A reading above 50 indicates expansion, while a reading below that signals contraction. October is the first full month after the latest U.S. tariffs went into effect. Washington and Beijing slapped additional tariffs on each other's goods on Sept. 24. Economic data from China is being closely watched amid a trade war between the two economic giants. Chinese statistics bureau statistician Zhao Qinghe wrote in an analysis o...

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HSBC and UBS closed their offices in Nigeria. The Central Bank of Nigeria said this in a report on Friday as it revealed foreign investment had fallen sharply from a year ago. The CBN said foreign direct investment in Nigeria fell to N379.84bn ($1.2bn) in the first half of the year from N532.63bn ($1.7bn) a year earlier. It did not give reasons for the banks’ closure. The central bank s aid the outlook for the Nigerian economy in the second half was “optimistic” given higher oil prices and production but rising foreign debts and uncertainty surrounding the 2019 presidential election were drawbacks, according to Reuters. Investor confidence in the country has been shaken since the central bank in August ordered MTN to bring back $8.1bn to the country, part of the profits the South African telecoms firm sent abroad. A HSBC research note dated July 18 said a second President Muhammadu Buhari term “raises the risk of limited economic progress and further fiscal det...

Earlier this summer the National Competitiveness Council (NCC) brought attention to a serious vulnerability in the Irish economy. We are overly-dependent on a small number of foreign-owned firms operating in a small number of sectors. This raises the question of how to rebalance the economy. The NCC correctly highlighted that it would require existing enterprises to innovate, diversify exports, and increase productivity. But it was silent on the role entrepreneurs might play. Entrepreneurs can be central to renewing the enterprise base. Think of the impact of high profile start-ups such as Airbnb, Snapchat, and Uber in the United States. Firms that were founded in recent decades, such as Amazon.com (1990s), Apple and Cardinal Health (1970s) and CVS Health and Walmart Stores (1960s) now rank among the top 15 on the Fortune 500 list of the largest US firms. How does Ireland measure up in terms of entrepreneurship? This is not a straightforward question as the impact of ent...