Wednesday, October 27

Tag: Economic

The Taliban says U.S. has agreed to provide humanitarian assistance to Afghanistan
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The Taliban says U.S. has agreed to provide humanitarian assistance to Afghanistan

The U.S. has agreed to provide humanitarian aid to a desperately poor Afghanistan on the brink of an economic disaster, while refusing to give political recognition to the country's new Taliban rulers, the Taliban said in a statement. The statement came at the end of the first direct talks between the former foes since the chaotic withdrawal of U.S. troops at the end of August. The U.S. statement was less definitive, saying only that the two sides "discussed the United States' provision of robust humanitarian assistance, directly to the Afghan people." The Taliban said the talks held in Doha, Qatar, "went well," with Washington freeing up humanitarian aid to Afghanistan after agreeing not to link such assistance to formal recognition of the Taliban. The United States made it cl...
Mary Beth Leonard: Reflections on 61 years of US-Nigerian engagement
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Mary Beth Leonard: Reflections on 61 years of US-Nigerian engagement

As Nigeria celebrates its national day, we celebrate our enduring bilateral partnership with the continent’s regional, political, and economic powerhouse. We appreciate Nigeria’s leadership in the region, standing up for the integrity of democratic nations in West Africa. Nigeria was among the first to condemn the recent coup in Guinea, regularly recognizes the need for presidential term limits, and supports its best and brightest to serve in the highest ranks of international organizations – most recently demonstrated by Chikwe Ihekweazu’s recent appointment to Assistant Director-General at the World Health Organization. The COVID-19 pandemic showed us all that global challenges require global solutions. Our mission team partnered with Nigeria to tackle COVID-19 to save lives, promote ...
Group warns finance minister against frustrating FG policy
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Group warns finance minister against frustrating FG policy

The Arewa Progressives Assembly (APA), has advised the Finance Minister, Hajiya Zainab Shamsuna Ahmed against introducing economic policies that are contrary to the Federal Government’s intended economic stabilization measures for the overall benefit of Nigerians. A statement issued by Musa Ibrahim Barnawa, the spokesman of the group said there was no justification for the Minister’s “one-step-forward- two-steps-backwards” policies being initiated so far that is contrary to the federal government’s policy for the country. “We are watching everything that is going on in the Finance Ministry, including all the pretence by Minister and her extended family members working directly under her and we are disappointed because this was not the kind legacy her father left behind for Nigeria.” ...
Taliban to unveil Afghanistan’s new government with presidential palace ceremony today
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Taliban to unveil Afghanistan’s new government with presidential palace ceremony today

Afghanistan's new Taliban rulers are set to announced their new government today as the country faces economic collapse and food shortages. This comes more than two weeks after the Islamist militia captured Kabul and brought a deadly end to 20 years of war, with the Taliban now back in control of the country as they were from 1996 to 2001. Taliban official Ahmadullah Muttaqi said on social media a ceremony is being put in place at the presidential palace in Kabul after the US withdrawal, while private broadcaster TOLONews said an announcement on a new government was imminent. Meanwhile, one-third of the country is facing food insecurity and is in desperate need of funds, according to the World Food Programme amid warnings of a humanitarian crisis in the country. The Taliban are...
Afghan minister becomes bicycle courier in Germany after moving there for a better life
News

Afghan minister becomes bicycle courier in Germany after moving there for a better life

A former communications minister in the Afghan government is now a delivery man in the eastern city of Leipzig after moving to Germany for a better life. Sayed Sadaat moved to Germany last December in the hope of a better future. He said some people back home in Afghanistan criticised him for taking such a job after having served in the government for two years, leaving office in 2018, Reuters reports. But the 49-year-old British-Afghan dual citizen said: "I have nothing to feel guilty about." He had quit the Afghan government because of disagreements with members of the president’s circle, he said according to Reuters. "I hope other politicians also follow the same path, working with the public rather than just hiding," he added. Though Sadaat was mocked for leaving to...
Why Nigerians Are Not Committing Suicide Amid Hardship – Pastor Enenche
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Why Nigerians Are Not Committing Suicide Amid Hardship – Pastor Enenche

Prediction Development Africa Pastor Paul Enenche, the Senior Pastor of Dunamis International Gospel Centre, has revealed why there is minimal suicidal attempts in the country despite the current hardship ravaging the nation. In a sermon on Sunday at the church’s headquarters, Glory Dome Abuja, Pastor Enenche said the Nigerians would have killed themselves over the economic situation if not for church. According to him, Nigeria and other countries in Africa survived COVID-19 due to mysterious power of God, stressing that some world leaders who predicted that millions of Africans would die of the disease were disappointed. He said, “Thank God for Church, otherwise many people would have kill themselves since. If they say there was suicide, just imagine what will happen if ...
Nigeria has not made Progress in 40 Years – Sanusi
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Nigeria has not made Progress in 40 Years – Sanusi

Former Emir of Kano and ex-governor of Central Bank of Nigeria (CBN), Muhammadu Sanusi II, has said Nigeria has not made any progress economically in the last 40 years. The former CBN bank said this while speaking at a symposium organised in Kaduna on Saturday, August 14, to celebrate his 60th birthday. Speaking at the symposium, he said; “Calling me controversial or calling me an enemy or critic, will not make those facts go away. So, anywhere we go, we must face these facts. Am I happy about it on my 60th birthday? No. Because, 60 years ago when I was born, the United States government advisory was telling investors that Nigeria has a better economic future than Japan. Today, where are we and where is Japan? It is not about one or two governments, it is about decades of a p...
Messi discusses PSG Move with Pochettino after leaving Barcelona
Sport

Messi discusses PSG Move with Pochettino after leaving Barcelona

Argentina captain, Lionel Messi, has spoken to Paris Saint-Germain manager, Mauricio Pochettino, about a potential move to the French Ligue 1 giants after leaving Barcelona. Messi leaves Barcelona after failing to sign a new five-year contract on Thursday. The 34-year-old, who first joined Barcelona’s Academy in 2000, will now play for another club in the 2021/22 season. The forward has already been heavily linked with PSG, where he could reunite with his friend, Neymar. However, Independent UK is now reporting that Messi had direct talks with Pochettino late on Thursday night in a bid to join PSG. PSG are now looking to find a way to make the transfer work. Pochettino’s side currently looks like the most viable option, as one of the few clubs able to affo...
IPOB orders sit-at-home every Monday till Nnamdi Kanu regains freedom
News

IPOB orders sit-at-home every Monday till Nnamdi Kanu regains freedom

IPOB orders sit-at-home every Monday till Nnamdi Kanu regains freedom The Indigenous People of Biafra (IPOB) has announced a total lockdown of social and economic activities every Monday starting from August 9 in the South-East region of the country. According to the group, the sit-at-home protest will be observed weekly to demand the freedom of its incarcerated leader, Nnamdi Kanu who has been in the custody of the Department of State Services (DSS) for a month. The separatist group made this disclosure in a statement by its spokesman, Emma Powerful, made available to SaharaReporters on Friday. In the statement titled, ‘IPOB Declares Indefinite Sit-At-Home Every Monday From August 9, 2021, Until Nnamdi Kanu Is Released’, the group referred to the planned weekly protest ‘ghost Mo...
LaLiga Slash Real Madrid wage cap by £150m
Sport

LaLiga Slash Real Madrid wage cap by £150m

  LaLiga will slash Real Madrid’s wage cap by almost £150million for the 2021/2022 season, throwing the future of several players into doubt. Last season, the club’s maximum operating budget was €473million (£403m), but that figure has dropped to €300m (£255m) for the upcoming campaign. The salary cap is imposed by the league and is based on the club’s projected income. This will allow them to retain a model of economic sustainability, so that their spending is within their revenue streams. In the 2019/2020 season before COVID-19 kicked in, Madrid’s salary budget stood at €641million. This means the cap has more than halved in that two-year timeframe. That drop led to Los Blancos not signing any players last summer, with a number of young players sold. Achraf Hak...
FG will tax Profits made by global tech giants with significant economic presence in the country — Osinbajo
News

FG will tax Profits made by global tech giants with significant economic presence in the country — Osinbajo

Vice President Yemi Osinbajo has disclosed that the federal government will be taxing profits made locally by global technology and digital firms not based in Nigeria, but with significant economic presence in the country. Osinbajo who made the announcement during an interactive session with delegates from the Chartered Institute of Taxation of Nigeria led by its President, Adesina Adedayo, at the Presidential Villa, said these global tech giants will be taxed even if they have not established an office or have a permanent establishment in the country. He also pointed out that Section 4 of the Finance Act 2019, provides that the finance minister, may by order of the president, determine what constitutes the significant economic presence of a company, other than a Nigerian company. ...
Nigerians are Hungry and Insecure – Northern CAN
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Nigerians are Hungry and Insecure – Northern CAN

The Northern wing of the Christian Association of Nigeria (CAN), otherwise known as Northern CAN has raised an alarm of increased insecurity and worsening economic situation in the country. The group in a statement released by its Spokesperson Rev. Jechonia Albert, alleged that Democracy day is not worth celebrating in the country as "larger majority of Nigerians cannot breathe because of certain undemocratic tendencies of our leaders." Northern CAN also said that it is concerned about the frequent attacks on schools and the abduction of students and pupils by bandits, especially, in states such as Kaduna, Katsina, Zamfara and Niger. The statement titled “Democracy Day, Insecurity and the Looming Food Crisis", read “June 12, declared as Democracy Day by the current administ...
June 12: CDHR condemns ban on Twitter, urges Buhari to tackle insecurity, others
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June 12: CDHR condemns ban on Twitter, urges Buhari to tackle insecurity, others

The Delta State Branch of the Committee for the Defence of Human Rights, CDHR has lambasted President Muhammadu Buhari’s led Federal Government, condemning the illegal ban on Twitter as well as the unjustified press censorship by the President. The CDHR members chanted solidarity songs as they bore placards with inscriptions such as, “There should be freedom of Speech”, “Say No killings”, ” Say No to unemployment “, “We condemn the Twitter ban #RestorTwitter#”. “Buhari every life matters, free all abducted school children “,” Buhari tackle insecurity “, ” Respect the rights of Men, Women and Children. Aluta Continua “, ” We want true federalism”,”Nigeria Democracy is Oligarchy in disguise. Govt of the few” and “Ban bandits. Unban Our Twitter URL. Social media is a tool of develop...
Northern Women Demand Referendum to End Insecurity
News

Northern Women Demand Referendum to End Insecurity

Northern women group, Jam’iyyar Mayan Arewa (JMA) have demanded for a national conference or referendum to address the increased insecurity, killings and banditry ravaging parts of the country, especially the North. The women who took to the street to protest, held up placards which read “#Stop Banditry in Arewa,” “#Stop Killing Northerners,” “#Safe Arewa,” “#Referendum is the Answer,” and “#Jaw Jaw not War War” among others. They also said that children have been turned to orphans in the country due to insecurity. JMA President, Hajiya Rabi Musa Saulawa who addressed newsmen in Kaduna said; “Our beloved country is sadly at the precipice. The Northern part of Nigeria has become the epicentre of the perennial crisis of epic proportions from all fronts. The North is endowed with...
At a time we are talking about reintegration of Africa for economic development, disintegration of any country will be almost idiotic – Obasanjo
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At a time we are talking about reintegration of Africa for economic development, disintegration of any country will be almost idiotic – Obasanjo

Former President Olusegun Obasanjo has condemned calls for disintegration of the country. Obasanjo who insisted that such move will be "idiotic", added that it shouldn't be coming at a time Africa is trying to reintegrate for political, social, and economic development. In his speech at a luncheon and investiture organised by the Nigerian Institution of Surveyor, Ogun State chapter and held at the premises of the Olusegun Obasanjo Presidential Library (OOPL) Abeokuta, the former President cited Pakistan, Yugoslavia, and Sudan as countries who have broken away but are yet to find solutions to their problems. Asking what will happen to minority groups in the country if the country disintegrates, Obasanjo called on all agitators for the disintegration of the country to shelve the i...
El Salvador Approves Bitcoin as Legal tender
News

El Salvador Approves Bitcoin as Legal tender

In a first of its kind move, El Salvador has approved bitcoin as legal tender, the county's president said. This makes El Savador the first country in the world to adopt a cryptocurrency for everyday use. Lawmakers in the Central American nation’s Congress passed a bill late Tuesday, June 8, that will eventually allow the digital currency to be used for many aspects of daily life, from property purchases to tax contributions. "The #BitcoinLaw has just been approved by a qualified majority" in the legislative assembly, President Nayib Bukele, 39, tweeted after the vote late Tuesday. "History!" the 39-year-old president added With 62 out of 84 possible votes, lawmakers voted in favor of the move to create a law to adopt bitcoin, despite concern about the potential impact on ...
Don’t Access Social Media via VPN – APC Warns Nigerians
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Don’t Access Social Media via VPN – APC Warns Nigerians

The All Progressives Congress (APC) has warned Nigerians against accessing their social media accounts with the Virtual Private Network. Secretary of the APC Caretaker/Extraordinary Convention Planning Committee, Sen. John James Akpanudoedehe in a statement released on Tuesday June 8, said those using VPN should desist in their own interests because of its risks which include data theft, illegal access to strategic company documents and possible economic espionage. Akpanudoedehe said;   “This advisory is necessary because, despite the massive compliance by Nigerians to the federal government’s suspension of Twitter operations in the country, some individuals in the country have resorted to VPN to assess Twitter whose unwholesome activities were detrimental to peace and p...
Kim Jong-un Bans Mullet Hairstyles and Skinny Jeans in North Korea
News

Kim Jong-un Bans Mullet Hairstyles and Skinny Jeans in North Korea

North Korean leader, Kim Jong-un has reportedly banned mullet hairstyles and skinny jeans in North Korea. The decision was made over concern that they reflect Western cultures that might influence young people in the country and impact his regime. North Korean newspaper Rodong Sinmun - which is owned by the ruling Worker's Party - wrote : 'History teaches us a crucial lesson that a country can become vulnerable and eventually collapse like a damp wall regardless of its economic and defence power if we do not hold on to our own lifestyle.' It went on to say: 'We must be wary of even the slightest sign of the capitalistic lifestyle and fight to get rid of them.' Those who repeatedly flout the strict laws on fashion - including a ban on colourfully dyed or spiked up hair and p...
Power is Yet to be Restored Despite NLC Calling Off its Strike – Kaduna Government
News

Power is Yet to be Restored Despite NLC Calling Off its Strike – Kaduna Government

The Kaduna state government has said that power is yet to be restored in the state despite the suspension of strike by the Nigerian Labour Congress (NLC). The NLC which embarked on a five-day industrial to protest the recent disengagement of civil servants by the state government, suspended the strike on Wednesday to honour a meeting called by the Minister of Labour and Employment, Chris Ngige to resolve the rift it has with the Kaduna State Government. However in a statement released by El-Rufai's spokesperson Muyiwa Adekeye, the Kaduna state government said it is " yet to see evidence that the NLC is backing off from its campaign of economic and social sabotage against the people of the State." The statement read; “Electric power is yet to be restored after it was shut down...
Barcelona Put Pique, 3 other Senior Players for sale
Sport

Barcelona Put Pique, 3 other Senior Players for sale

  Barcelona is ready to sell at least four players this summer transfer window, according to Mundo Deportivo. The Spanish newspaper reports that the players include Pique, Sergio Busquets, Sergi Roberto and Antoine Griezmann. Barcelona wants to use the fund realize from the sale of the players to finance a deal for either Manchester City’s Sergio Aguero or Lille’s Memphis Depay this summer, The Catalan club are in severe economic difficulty due to the COVIDD-19 pandemic. Meanwhile, Pigue, Busquets, Roberto and Griezmann have made over 100 La Liga appearances for Barcelona this season. Perhaps the most surprising player on that list is Griezmann. The France international has scored 12 goals and registered 7 assists for Barcelona this season. The forward is o...
Guardiola Opens up on Replacing Aguero with Haaland
Sport

Guardiola Opens up on Replacing Aguero with Haaland

  Manchester City manager, Pep Guardiola, has admitted they cannot land Borussia Dortmund striker, Erling Haaland, to replace Sergio Aguero this summer. Haaland has emerged as the hottest player in world football and is widely expected to leave the Bundesliga side. Dortmund is prepared to allow the 20-year-old leave for €180 million this summer. Real Madrid and Barcelona have spoken to Haaland’s agent and father in Spain on Thursday, with the Norway international also a target for Manchester United and Chelsea. But Guardiola has claimed City won’t be able to afford the player if he becomes available this summer. “With these prices, we are not going to buy any striker. It is impossible, we cannot afford it. “All the clubs struggle financially and we are not an ...
The Average Northerner Marrying two, three, four Women, are Helping the Society – Ned Nwoko
Lifestyle

The Average Northerner Marrying two, three, four Women, are Helping the Society – Ned Nwoko

Ned Nwoko, the billionaire husband of actress Regina Daniels, says marrying more than one wife helps save the society. Nwoko in an interview with BBC Igbo, said the average northerner has at least two wives and this helps the society by preventing women from venturing into prostitution. In his words “The average Northerner marrying two, three, four women, they are helping the society because it is the economic downturn that has affected so many women who you see doing prostitution and all that. But the fallacy of it all is that Christianity does not allow that in the South and yet, the average Southern man has 10 girlfriends.” Speaking further, Nwoko said the polygamist nature of northerners has helped to increase their population and made them the majority in the country. “I ...
”It Slipped out of my Mouth”- Apostle Suleman reacts to viral video of him praying COVID19 shouldn’t end
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”It Slipped out of my Mouth”- Apostle Suleman reacts to viral video of him praying COVID19 shouldn’t end

Apostle Johnson Suleman who is the General Overseer of the Omega Fire Ministries International, Apostle Johnson Suleman, has described as an error in his statement in which he said that COVID19 should not end because he was prospering and has been able to buy his third private jet. In a video that went viral last week, Suleman while preaching at a church program, said “In COVID (pandemic) I bought a jet; the third one. I have three. I was praying for COVID-19 not to end because I was resting. While people were complaining. my wife asked, ‘Can life be this sweet?’ Am I talking to somebody here?'' His statement drew criticisms from Nigerians who condemned him for being excited about the pandemic that has crippled the economic lives of many including the people who attend his chu...
Barcelona ‘Will not Play Coutinho’ to Avoid Paying Liverpool £4.5m
Sport

Barcelona ‘Will not Play Coutinho’ to Avoid Paying Liverpool £4.5m

  Barcelona playmaker, Philippe Coutinho, is set to sit out the rest of the season, so that the club avoids paying a transfer instalment to Liverpool, according to Onze The Spanish giants are neck-deep in debts, amid the economic turmoil caused by the ongoing COVID-19 pandemic. Barca have racked up debts close to £1billion and could be at risk of bankruptcy. Liverpool will be due a £4.5million cheque, if Coutinho plays another seven games this season. The Brazil star is currently injured, but will be available for selection again in March. However, he will reportedly not be considered for selection unless Barca are desperate. It is reported Barca currently owe a whopping £112 million to 19 other teams in various transfer instalments, including a payment of £26...
One Dead, Seven Injured as Suspected Smugglers and Customs Clash in Ogun State
News

One Dead, Seven Injured as Suspected Smugglers and Customs Clash in Ogun State

One person was killed while seven others sustained injuries when men of the Nigerian Customs Service clashed with suspected smugglers along Sagamu Interchange/Abeokuta expressway in Ogun State. Three Customs operatives, a military officer and three smugglers were seriously injured while a man said to be a rice trader was killed during the clash which occurred on Tuesday morning. It was gathered that the suspected smugglers who were conveying imported rice to Samagu from Abeokuta ran into Customs operatives from the Federal Operations Unit Ikeja, who intercepted the goods. There was said to be resistance from some hoodlums allegedly working with the suspected smugglers, leading to a crossfire with soldiers who were called for reinforcement . An eyewitness who spoke to the ...
FG Has Started Implementing Economic Sustainability Plan – Osinbajo
Politics

FG Has Started Implementing Economic Sustainability Plan – Osinbajo

The federal government has commenced the execution of the sustainability measures contained in the Economic Sustainability Plan (ESP). The Vice President, Prof. Yemi Osinbajo, stated this at a webinar organised by Lagos Chamber of Commerce and Industry (LCCI) 2020 Presidential Policy Dialogue over the weekend. He said that the ESP was developed with a stimulus package of N2.3 trillion to boost local production, prevent business collapse and provide liquidity across various sectors, especially micro, small and medium enterprises MSMEs. Osinbajo stated: “Nigeria, like all other countries, has been quite seriously impacted in various ways by the COVID-19 pandemic, either as households or businesses, and is clear that both the pandemic and its effects would remain for a while. “The pri...
CBN Bans Forex for Maize Importation
News

CBN Bans Forex for Maize Importation

Banks have been directed to stop processing Forms M for the importation of maize with immediate effect. The Central Bank of Nigeria (CBN) who made the order on Monday July 13, said the decision to ban forex for maize importation was made to increase local production, stimulate a rapid economic recovery, safeguard rural livelihoods. The apex bank further stated that the decision will would increase jobs which have been lost as a result of the ongoing COVID-19 pandemic. The statement partly read; “Authorised dealers are hereby directed to discontinue the processing of Forms M for the importation of maize/corn with immediate effect. “Accordingly, all authorised dealers are hereby requested to submit the list of Forms M already registered for the importation of maize/corn on...
Maids Dumped Outside Beirut Embassy
News

Maids Dumped Outside Beirut Embassy

Some Ethiopian maids have been dumped outside the country's embassy in Beirut by their employers who can no longer afford to pay their salaries, following the collapse of the Lebanese economy. The maids were left to sleep on the pavement of the country's embassy following the ongoing economic crisis in Lebanon heightened by the Coronavirus pandemic, which also led to Lebanese's currency losing 70% of its value in the past six months. DPA news agency reported that there are about 250,000 migrant workers in Lebanon, many of whom are employed by many middle-class households as domestic staff. Telegraph reported that a large proportion of the domestic staff employed by the middle-class households are from Ethiopia, the rest are from other African and Asian countries. The first gro...
Travel Resumes Across Europe Amid Hopes Of Economic Recovery
News

Travel Resumes Across Europe Amid Hopes Of Economic Recovery

France, Germany and Switzerland on Monday allowed travel to resume three months after unprecedented restrictions were imposed in a bid to curb the coronavirus pandemic. France reopened its borders with all EU countries except Spain, where restrictions would remain in place until June 21 in line with a similar decision on the Spanish side. Passengers arriving from Britain would also be asked to self-isolate for 14 days, in line with British restrictions on individuals arriving from France. Borders with non-EU countries remain closed to all but essential travel, except for incoming foreign students who can now head to France. Traffic was reported on a motorway leading to the German-Danish border on Monday, just hours after Copenhagen lifted entry restrictions for German, Norw...
Nigeria Can Turn COVID-19 Pandemic To Economic Victory – Osinbajo
Politics

Nigeria Can Turn COVID-19 Pandemic To Economic Victory – Osinbajo

Vice President Yemi Osinbajo on Thursday stated that Nigeria can turn the coronavirus pandemic into an economic victory. Osinbajo said this at the State House in Abuja after presenting a well prepared post-COVID-19 Economic Recovery Plan to President Muhammadu Buhari. Osinbajo led the Economic Sustainability Committee to submit the report entitled, “Bouncing Back: The Nigerian Economic Sustainability Plan”. The President is expected to approve the recommendations of the report which contains modalities and policies that would strengthen businesses in the country as well as provide jobs for the teeming masses amid the impact of the coronavirus pandemic. Osinbajo said: “We are confident that if the proposals are taken as a whole and implemented conscientiously, Nigeria will a...
House of Representatives Pass Revised 2020 Budget of N10.8trn
News

House of Representatives Pass Revised 2020 Budget of N10.8trn

The House of Representatives has passed the revised 2020 Federal budget of N10.8 trillion from the initial N10.5 trillion submitted by the president. The Executive had written to the lawmakers for a downward review of the budget from N10.6 trillion to N10.5 trillion based on the global economic realities as a result of the Coronavirus pandemic. The lawmakers however increased the budget to N10.8 billion, higher than the initial approved budget. Based on the revised appropriation as passed by the house, statutory transfers also known as the first line charge (a category into which the National Assembly budget falls), was increased from N398 billion (398,505,979,362) to N422 billion (N422,775,979,362). Others are N2.6 trillion for debt service and N2.9 trillion for sinking funds...
FUNAAB, MAPOLY students, others jailed for internet fraud in Ogun
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FUNAAB, MAPOLY students, others jailed for internet fraud in Ogun

The Economic and Financial Crimes Commission, EFCC, said it has secured the conviction of nine internet fraudsters. They were sentenced in Ogun State by two judges of the Federal High Court, Abeokuta. The EFCC, in a statement on Tuesday, said Toheeb Abdulrasheed and Chukwuebuka Isaac Dike were sentenced on Monday by Justice Mohammed Abubakar for their involvement in internet-related fraud. Dike, it was learnt, claimed to be a 100-level Biochemistry student of the Federal University of Agriculture, Abeokuta (FUNAAB); he was sentenced to three months in prison. Also, Abdulrasheed, who bagged four months jail term was said to have claimed to be a graduate of Business Administration from Moshood Abiola Polytechnic, MAPOLY, Abeokuta. Oni got four months jail term; Jemisey...
42 Percent of Nigerians Lost their Jobs Due to Coronavirus – NBS
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42 Percent of Nigerians Lost their Jobs Due to Coronavirus – NBS

The National Bureau of Statistics (NBS) has announced that its recent survey revealed that 42 percent of Nigerians have lost their jobs due to the Coronavirus disease (COVID-19) pandemic. The Bureau said the study was conducted between April to May 2020, during the time when the index case was identified in the country. It was further gathered that the impact of COVID-19 has been most strongly felt in the commerce, service and agriculture sectors. While seventy-nine percent of households surveyed reported that their households’ total income have decreased since mid- March, NBS added that the economic shock experienced by Nigerians after the outbreak of Coronavirus far exceeds shocks experienced between 2017 and 2019. In its report titled "COVID-19 IMPACT MONITORING", the NBS s...
Singapore Warns Of Worst Economic Contractions Since Independence
News

Singapore Warns Of Worst Economic Contractions Since Independence

Singapore’s embattled economy could shrink by as much as seven percent this year, which would be the worst reading since independence, with the government saying Tuesday the coronavirus pandemic had throttled the key export sector, AFP reports. The city-state is seen as a bellwether of the global economy and the historic contraction highlights the extreme pain being wrought on countries by the killer disease. The warning also came hours before Singapore’s deputy prime minister is expected to unveil another stimulus package for the troubled city, which has been crippled by months of lockdowns around the world. The trade ministry’s forecast – which was a downgrade from the 4% contraction predicted in March – came as official data showed the economy shrank 0.7% on-year in the fir...
Eid-el-fitri: Oyetola urges Muslim to celebrate with moderation
News

Eid-el-fitri: Oyetola urges Muslim to celebrate with moderation

Osun State Governor, Adegboyega Oyetola, has Muslims to celebrate the 1441 Eid-el-Fitr festival with moderation and in compliance with measures to curb the spread of coronavirus pandemic. This is as the Governor congratulated Muslims in the State and across the world on the successful completion of the 1441 AH Ramadan fast. Oyetola in a statement signed by his Chief Press Secretary, Ismail Omipidan, prayed Almighty Allah to accept all the acts of worship and supplication of the Muslim faithful during the just-concluded holy month, adding that congregational prayer is banned due to the ravaging COVID 19 pandemic. He urged Muslims and indeed all Nigerians to take advantage of this important celebration to pray against the current economic and security situation of the country as wel...
U.S To Add 33 Chinese Firms, Institutions To Economic Blacklist
News

U.S To Add 33 Chinese Firms, Institutions To Economic Blacklist

United States is preparing to add 33 Chinese firms and institutions to an economic blacklist, for alleged ties to China’s military, or persecution of Uighurs. Seven companies and two institutions were listed for being “complicit in human rights violations and abuses committed in China’s campaign of repression, mass arbitrary detention, forced labour and high-technology surveillance against Uighurs” and others, the Commerce Department said in a statement. Two dozen other companies, government institutions and commercial organisations were added for supporting procurement of items for use by the Chinese military, the department said in another statement. The blacklisted companies focus on artificial intelligence and facial recognition, markets that US chip companies such as Nvid...
Mother of late Captain of Flying Eagles, Ali Jeje Receives N50,000 Palliative from Sports Minister Sunday Dare
Sport

Mother of late Captain of Flying Eagles, Ali Jeje Receives N50,000 Palliative from Sports Minister Sunday Dare

Minister of Youth Development and Sports, Sunday Dare has donated the sum of N50,000 to the family of the late Ali Jeje, who captained Nigeria at the U-20 level . Ali Jeje (pictured below introducing his teammates) captained Nigeria to win her first Under-20 African Championship in 1983 and also was captain when Nigeria played in her first FIFA tournament at the Under-20 World Championship in 1983. Ali Jeje died of an ailment in Jos some years ago and his family have reportedly been suffering economic hardship since he passed away. On Thursday, the sports minister sent various food items and the sum of fifty thousand naira (N50,000) to the mother of the former Nigeria International. The cash and items were presented to Ali's mother on behalf of the Minister by journali...
‘Players shouldn’t be squeezed like lemons’ – Napoli’s Younes says footballers are taught to ‘stay stupid’
Sport

‘Players shouldn’t be squeezed like lemons’ – Napoli’s Younes says footballers are taught to ‘stay stupid’

The winger says that players must be educated on how to better take care of themselves off the field Napoli winger Amin Younes says that footballers are "helped to stay stupid", with many looking to take advantage of players' finances and lack of economic education. Younes originally broke through at Borussia Monchengladbach, coming through the club's academy before making his senior debut during the 2011-12 campaign. After two more seasons with an irregular first-team role, he moved to Ajax, where he made 100 appearances and scored 17 goals across a three-season stay.
Oil collapse wipes out profits at Total
News

Oil collapse wipes out profits at Total

Total said Tuesday its quarterly profit fell by 99 percent because of dropping oil prices and announced it would slash investments in response to the ongoing turmoil in crude markets. The French oil major reported a net profit of $34 million for the first quarter, against $3.1 billion a year earlier. Oil prices suffered a sharp drop in the first quarter due to overproduction and a price war between Saudi Arabia and Russia, falling to $50.1 from $63.1 a year earlier. The sharp fall in oil and gas prices depressed Total’s cash flow from operations by nearly two thirds. Since the end of March, oil has been hit further by a collapse in demand due to the economic impact of the coronavirus, even going negative at one point last month, when sellers had to pay buyers to take oil off th...
APC replies Atiku; Says he’s Part of Obasanjo’s Short-sighted Government
Politics

APC replies Atiku; Says he’s Part of Obasanjo’s Short-sighted Government

The All Progressives Congress (APC) has replied former Vice President Atiku Abubakar, after he suggested diversification of the economy to cushion the effect of the Coronavirus pandemic in the country. In an opinion piece titled “How to Pull Nigeria from the Brink”, the former Presidential candidate of the People's Democratic Party groaned over the country's current economic quagmire and growing foreign debts. Atiku asked the Buhari-led administration to embrace agriculture rather than depending solely on oil. Reacting to the former Vice President's suggestion, the APC in a statement signed by the its National Publicity Secretary, Mallam Lanre Issa-Onilu stated that Atiku was part of former President Olusegun Obasanjo's short-sighted government and never practiced what he is now ...
COVID-19: World Bank supports Nigeria with N31.2bn
Health

COVID-19: World Bank supports Nigeria with N31.2bn

THE World Bank has announced N31.2 billion ($82 million) to support Nigeria’s fight against the COVID-19 pandemic. Announcing the support in a statement, the bank said it is moving quickly to provide fast and flexible support to help Nigeria and other African countries in mitigating the impact of the COVID-19 pandemic by providing direct and long-term financial support over the next 15 months. It said: “In Nigeria, the World Bank has already made $82 million available for immediate support in strengthening the public health response through the Regional Disease Surveillance Systems Enhancement Project, REDISSE. “In addition, the World Bank has been asked to provide a multi-pronged package of support over the next six months to strengthen the country’s preparedness for the immediate h...
COVID-19: South West Muslims demand adequate protection of health workers, others
News

COVID-19: South West Muslims demand adequate protection of health workers, others

Muslims in the South West region, under the banner of Muslim Ummah of South West Nigeria (MUSWEN) have appealed to President Muhammadu Buhari, state governors and other stakeholders to provide adequate protection for health workers and other essential service providers involved in the Covid-19 battle. MUSWEN made the appeal via a statement signed by its Executive Secretary/Chief Executive Officer, Professor Muslih Tayo Yahya, a copy of which was made available to DAILY POST in Ibadan, the Oyo state capital on Thursday. Yahya, a retired Professor and former Director, Academic Planning and Administration at the University of Jos, Plateau State in the statement issued on behalf of Muslims in the region, declared that they were in support and working in tandem with all measures recommend...
Coronavirus: We’ve Started Immediate Cash Transfer to Poorest Households, says FG
News

Coronavirus: We’ve Started Immediate Cash Transfer to Poorest Households, says FG

Minister of humanitarian affairs, disaster management and social development, Sadiya Farouq, says the Federal government has begun cash transfer to the poorest households in the country to cushion the economic impact of the Coronavirus pandemic. Farouk announced this at a press conference in Abuja. She said her ministry has commenced advance payment of conditional cash transfer to the poorest households in the country. She however did not disclose the amount of cash that is being transferred to the poor. “In Mr. President’s speech, paragraph 54, he directed that the conditional cash transfer should be given in advance of two months. This we have also done. We have directed immediate cash transfer to the poorest and most vulnerable households in the country. “Because of this CO...
COVID-19: Tinubu Asks FG To Suspend VAT, Seeks United Nigeria
News

COVID-19: Tinubu Asks FG To Suspend VAT, Seeks United Nigeria

The National Leader of the All Progressives Congress (APC), Mr Bola Tinubu, has called for the immediate suspension of Value Added Tax (VAT), and the reduction of tax in the country. He made the call as part of measures the Federal Government can apply to mitigate the economic impact of the coronavirus (COVID-19) outbreak on citizens. In a message on his 68th birthday, Tinubu said the government may have to take tougher measures to curb the spread of the disease such as imposing lockdowns in Nigeria, as done by most countries battling the scourge. He believes the immediate suspension of VAT will help lower import costs and protect against shortages. The former governor of Lagos State also advised the government to consider providing stipends for vulnerable Nigerians who would b...
Brace Up, the Economic Impact of The #CoronaVirusPandemic will be Severe on our Country – Oby Ezekwesili Tells Nigerians
News

Brace Up, the Economic Impact of The #CoronaVirusPandemic will be Severe on our Country – Oby Ezekwesili Tells Nigerians

Former Minister of Education, Oby Ezekwesili has asked Nigerians to brace up and begin to practice financial prudence as the impact of the Coronavirus pandemic 'will be severe in Nigeria.' Taking to her twitter handle, the former Vice President of the World Bank, wrote ''Brace up, Fellow Citizens. Brace up. The economic impact of the #CoronaVirusPandemic will be severe on our country. But do not despair. Make sound personal and household financial choices. Rearrange and realign personal and family Priorities immediately. Keep the Faith'.'  
Landmark Projects, Policies that have Redefined Governance in Ogun State in 10months
News

Landmark Projects, Policies that have Redefined Governance in Ogun State in 10months

So much has been achieved in Ogun State in the last 10months of the administration of Governor Dapo Abiodun and so much, especially in the area of infrastructural renewal, security, health, education and Information and Communications Technology among others would be achieved in the months ahead. The foundations have been laid. Last May, when Governor Abiodun was inaugurated, he espoused his ‘Building the Future Together’ agenda for the state. Judging by the indices so far, he has not deviated or dithered, rather, he seems to be on a supersonic speed to pack many achievements into his first year in office. On a recent media tour of some of his projects, we discovered that the governor is not just an ideas man; he is a pragmatist and hard-worker who is wholly committed to entre...
Act Now to Protect the Nigerian People From Coronavirus – Atiku Tells FG
News

Act Now to Protect the Nigerian People From Coronavirus – Atiku Tells FG

Atiku Abubakar, former Vice President, has asked the Nigerian government to act now and take patriotic steps to protect Nigerians against the Coronavirus pandemic. In a statement released, Atiku said steps such as restricting flights from countries with Coronavirus outbreak, should be taken immediately. Read the statement below Two weeks ago, when Nigeria recorded its index case of the coronavirus, I had cause to urge the Federal Government to restrict flights from nations with a high prevalence of the Coronavirus plague. This is in line with global best practices. This is a patriotic call on the Federal Government of Nigeria to take every reasonable step to protect the citizens of Nigeria, by temporarily suspending flights to and from such countries, until we build up our ...
South Africa President Appoints Okonjo Iweala As Head Of Economic Advisory Council.
News

South Africa President Appoints Okonjo Iweala As Head Of Economic Advisory Council.

The South African President, Cyril Ramaphosa has appointed Nigeria’s Ngozi Okonjo-Iweala as the Head of the country’s Economic Advisory Council. Also, Okonjo Iweala reacting to the new wrote: “With President Ramaphosa, members of cabinet, and members of the Presidential Economic Advisory Council in Pretoria discussing sources of growth for the South African economy and win-win economic interactions with the continent.
Ngozi Okonjo-Iweala Appointed Member of South Africa’s Presidential Economic Council
Politics

Ngozi Okonjo-Iweala Appointed Member of South Africa’s Presidential Economic Council

Former Minister of Finance, Ngozi Okonjo-Iweala, has been appointed as a member South Africa’s presidential economic advisory council. The council which is chaired by Cyril Ramaphosa, the South African president, has other members in the council.  As part of their functions, members of the council are expected to “ensure greater coherence and consistency in the implementation of economic policy and ensure that government and society in general is better equipped to respond to changing economic circumstances”. Okonjo-Iweala shared photos from the meeting on Twitter, captioned it “With President Ramaphosa, members of cabinet, and members of the Presidential Economic Advisory Council in Pretoria discussing sources of growth for the South African economy and win-win economic i...
PDP Blasts Buhari for First Cornonavirus Case in Nigeria
Politics

PDP Blasts Buhari for First Cornonavirus Case in Nigeria

The PDP has blasted the Buhari-led government over the first confirmed case of Coronavirus in Nigeria. The party in a statement released by its, said the infection is as a result of the negligence that has characterised the Buhari administration.The party asked Nigerians to hold the government responsible should any national calamity arose from COVID-19. Read the statement below: Corona Virus: PDP Berates Buhari For Negligence...Seeks Concerted Effort, Adoption of Ebola Intervention Strategy The Peoples Democratic Party (PDP) has berated the Buhari Presidency for its negligence and laidback attitude to governance and the welfare of Nigerians leading to the avoidable entrance of the deadly corona virus into our dear country. The party says it was evident that the Buhari P...

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