Expert: Implementation of Sanctions Against Russia Is Wrong Strategy

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 Implementation of sanctions against Russia is a mistake, French oil and gas company Total Chief Executive, Christophe de Margerie said in his interview to Sueddeutsche Zeitung newspaper.

“We cannot let them persuade us that Russia is our enemy. Our energy supply depends on this country. If Americans, based on the historical reasons and internal political motives, want to escalate the conflict, then it is their choice. But we, Europeans, have to deal with this crisis in a different way, not painting everything in black and white only,” de Margerie said as quoted by the Sueddeutsche Zeitung.
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FG begins implementation of Backward Integration Policy in sugar industry

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Federal Government has commenced the implementation of the Backward Integration Policy (BIP) in the sugar industry with the approval of the plans and projects by three sugar refineries in Nigeria.

The Minister of Industry, Trade and Investment, Mr Olusegun Aganga, performed the signing-off ceremony in Abuja on Tuesday with the representatives of Dangote Sugar Refinery, BUA Group and Golden Sugar Refinery.  

The Federal Executive Council had on Oct. 19, 2012, approved the Nigerian National Sugar Master Plan (NSMP). The NSMP is expected to generate about 170,000 new jobs across the country, ensure self sufficiency in sugar production, and conserve about $350 million annually in foreign exchange.

According to the plan, the sugar industry is also expected to produce about 1,797,000 tonnes of the commodity annually.

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2013 budget: Implementation, bench mark controversies

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By UDEME CLEMENT
President Goodluck Jonathan, after the disagreement with the National Assembly on the budget bench mark of $75 per barrel (bpd) of crude oil, presented a financial document of N4.92 trillion as aggregate expenditure for 2013 fiscal year. The document shows an increase of about 5 per cent over the N4.7 trillion appropriated for 2012, which is made up of N380.02 billion for Statutory Transfers, N591.76 billion for Debt Service, N2.41 trillion for Recurrent (Non-Debt) Expenditure and N1.54 trillion for Capital Expenditure.The appropriation bill increased spending by 5 percent from this year’s N4.697 trillion but shrunk the deficit and cut the