AIRLINK 71.11 Decreased By ▼ -1.95 (-2.67%)
BOP 4.97 Decreased By ▼ -0.12 (-2.36%)
CNERGY 4.35 Decreased By ▼ -0.02 (-0.46%)
DFML 31.70 Decreased By ▼ -0.75 (-2.31%)
DGKC 77.65 Increased By ▲ 2.16 (2.86%)
FCCL 19.82 Increased By ▲ 0.30 (1.54%)
FFBL 35.37 Decreased By ▼ -0.78 (-2.16%)
FFL 9.18 Decreased By ▼ -0.04 (-0.43%)
GGL 9.90 Increased By ▲ 0.05 (0.51%)
HBL 113.50 Decreased By ▼ -3.20 (-2.74%)
HUBC 133.01 Increased By ▲ 0.32 (0.24%)
HUMNL 7.05 Decreased By ▼ -0.05 (-0.7%)
KEL 4.38 Decreased By ▼ -0.03 (-0.68%)
KOSM 4.34 Decreased By ▼ -0.06 (-1.36%)
MLCF 36.89 Increased By ▲ 0.69 (1.91%)
OGDC 134.22 Increased By ▲ 0.72 (0.54%)
PAEL 22.60 No Change ▼ 0.00 (0%)
PIAA 24.90 Decreased By ▼ -1.11 (-4.27%)
PIBTL 6.51 Decreased By ▼ -0.04 (-0.61%)
PPL 117.70 Increased By ▲ 2.39 (2.07%)
PRL 26.48 Decreased By ▼ -0.15 (-0.56%)
PTC 13.85 Decreased By ▼ -0.25 (-1.77%)
SEARL 52.70 Decreased By ▼ -0.75 (-1.4%)
SNGP 67.90 Increased By ▲ 0.65 (0.97%)
SSGC 10.58 Decreased By ▼ -0.12 (-1.12%)
TELE 8.52 Increased By ▲ 0.10 (1.19%)
TPLP 10.92 Increased By ▲ 0.17 (1.58%)
TRG 62.50 Decreased By ▼ -1.37 (-2.14%)
UNITY 25.18 Increased By ▲ 0.06 (0.24%)
WTL 1.27 No Change ▼ 0.00 (0%)
BR100 7,459 Decreased By -2.5 (-0.03%)
BR30 24,191 Increased By 19.5 (0.08%)
KSE100 71,208 Increased By 105.3 (0.15%)
KSE30 23,418 Increased By 23.3 (0.1%)

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.