Felix Onuah

Felix Onuah

Felix Onuah

 

No cash for Nigerian power without plan

Felix Onuah

Nigeria will not pour more cash into power, having spent $10-billion in the last seven years with little to show for it, until it has a clear idea of how to revamp the sector, President Umaru Yar'Adua said on Monday. Yar'Adua took power on May 29 with a pledge to declare a "national emergency" on power and energy, but he has yet to formally take the step.

Nigerian govt stops slashing of zeros off currency

Felix Onuah

Nigerian Justice Minister Michael Aondoakaa on Friday froze a plan announced last week by the central bank to re-denominate the naira currency, saying the bank had violated the law. Aondoakaa said Central Bank Governor Chukwuma Soludo should first have sought President Umaru Yar'Adua's written approval.

Nigeria curbs movement during elections

Felix Onuah

President Olusegun Obasanjo told Nigerians on Friday to limit their travel during election days and stay home at night to curb violence. Obasanjo accused "highly placed individuals" of fomenting trouble ahead of the vote, and an opposition party said several of its candidates and thousands of supporters had been detained.