The Minister of State for Finance, Mr. Remi Babalola, has said that the country’s economy was on track to meet targets of 6.1 per cent growth and 11.2 per cent inflation rate this year. Speaking in Lagos on Monday 1st March 2010 at the Stanbic IBTC 2010 Investors’ Conference, he said that the expected Gross Domestic Product growth rate of 6.1 per cent and target inflation of 11.2 per cent were still realistic for 2010 as government sustained macroeconomic stability and continued its economic reforms. (more…)

The Federal Government plans to increase the national strategic food reserve capacity from the current 300,000 tonnes to 1.325 million tonnes to meet the nation’s food security target. According to the Acting Executive Director, National Food Reserve Agency, Dr. Mohammed Lawal, said in Abuja on Monday 1st March 20101 that the existing 11 silos in the country had the capacity to store 300,000 tonnes of food. He said the silos, located in Ibadan, Akure, Ilorin, Iruha, Minna, Lafiaji, Makurdi, Ogoja, Jahun, Jos and Gombe had 60 per cent utilisation capacity. (more…)