Highlights from today's edition of The Guardian.
Good news .....
Construction of what will be the Lekki Deep Water port is on-going.
The idea behind the new port is to create a major maritime hub and trans-shipment point for West Africa and Central Africa. The new port will be able to berth bigger ships than any other portion in the sub-region. Planned completion is set at 2012.
Bad news ....
Nigeria lost $23.7 billion (-N-3.7 Trillion) in revenue to oil theft and shut-downs caused by instability in the Niger-Delta.
In this time of deficits, slowing growth, global economic crisis, Nigerian Stock Exchange market corrections, interest and deposit rate ceilings, pressure on the Naira exchange rate and toxic assets .... think what an extra $23 billion in reserves could have meant.
Amalgamation Day in Lagos, 1914
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