AIRLINK 70.60 Decreased By ▼ -2.46 (-3.37%)
BOP 4.90 Decreased By ▼ -0.19 (-3.73%)
CNERGY 4.30 Decreased By ▼ -0.07 (-1.6%)
DFML 31.40 Decreased By ▼ -1.05 (-3.24%)
DGKC 77.70 Increased By ▲ 2.21 (2.93%)
FCCL 20.01 Increased By ▲ 0.49 (2.51%)
FFBL 34.70 Decreased By ▼ -1.45 (-4.01%)
FFL 9.22 No Change ▼ 0.00 (0%)
GGL 9.85 No Change ▼ 0.00 (0%)
HBL 113.00 Decreased By ▼ -3.70 (-3.17%)
HUBC 133.09 Increased By ▲ 0.40 (0.3%)
HUMNL 7.00 Decreased By ▼ -0.10 (-1.41%)
KEL 4.25 Decreased By ▼ -0.16 (-3.63%)
KOSM 4.31 Decreased By ▼ -0.09 (-2.05%)
MLCF 36.88 Increased By ▲ 0.68 (1.88%)
OGDC 133.15 Decreased By ▼ -0.35 (-0.26%)
PAEL 22.40 Decreased By ▼ -0.20 (-0.88%)
PIAA 24.51 Decreased By ▼ -1.50 (-5.77%)
PIBTL 6.44 Decreased By ▼ -0.11 (-1.68%)
PPL 117.10 Increased By ▲ 1.79 (1.55%)
PRL 25.93 Decreased By ▼ -0.70 (-2.63%)
PTC 13.30 Decreased By ▼ -0.80 (-5.67%)
SEARL 52.40 Decreased By ▼ -1.05 (-1.96%)
SNGP 68.01 Increased By ▲ 0.76 (1.13%)
SSGC 10.58 Decreased By ▼ -0.12 (-1.12%)
TELE 8.35 Decreased By ▼ -0.07 (-0.83%)
TPLP 10.70 Decreased By ▼ -0.05 (-0.47%)
TRG 59.85 Decreased By ▼ -4.02 (-6.29%)
UNITY 25.33 Increased By ▲ 0.21 (0.84%)
WTL 1.26 Decreased By ▼ -0.01 (-0.79%)
BR100 7,419 Decreased By -42.1 (-0.56%)
BR30 24,038 Decreased By -133.4 (-0.55%)
KSE100 70,874 Decreased By -228.6 (-0.32%)
KSE30 23,321 Decreased By -73.2 (-0.31%)

imageABUJA: Nigeria will finally get a new government on Wednesday after more than five months of waiting, when President Muhammadu Buhari assigns formal roles to 36 ministerial nominees approved by parliament.

Buhari is scheduled to make the announcement from 10:00 am (0900 GMT), bringing to an end 166 days in which he has effectively been in sole charge of Africa's leading economy and most populous nation.

The inauguration was scheduled to take place at his official residence, Aso Rock, in the capital, Abuja.

Buhari's primary focus since coming to office on May 29 has been the fight against Boko Haram and launching an anti-corruption drive.

But the lack of ministers has given a sense of political limbo and created uncertainty in the business world.

"Nigeria's nature as a political economy has been emphasised in the absence of a cabinet," Michael Famoroti, editor-in-chief of Nigeria business, economy and finance analysts Stears, told AFP.

"Political stasis has bred economic stasis, through cargoes stranded at ports, an uncertain investment climate and delayed spending decisions.

"Too many parts of the economy have stalled as economic agents await government clarity," he said in an email.

But with the new ministerial line-up announced, it is hoped a clearer picture should emerge.

"The APC (All Progressives Congress) made a lot of promises and it needs to deliver on some of the more concrete elements," said Dawn Dimowo, of political consultancy the Africa Practice.

"So it is high time the ministers come on board; they are the ones to translate most of those promises into tangible policies and lead on their implementation."

Copyright AFP (Agence France-Presse), 2015

Comments

Comments are closed.