Nigerian Senate Passes 2021-2023 MTEF/FSP, Pegs Total At Expenditure At $35bn
The Nigerian Senate on Thursday passed the 2021-2023 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) shortly before it adjourned plenary. The passage of the document was sequel to the consideration of a harmonized conference report of the Joint Committee of the Senate and House of Representatives. In his presentation, Chairman of the […]
US Still Not In Support Of Okonjo-Iweala’s Bid for WTO DG
The United States has suggested that the process to find a new Director-General of the World Trade Organisation (WTO) needs to be reopened, in what would be an unprecedented move. President Donald Trump’s trade chief, Robert Lighthizer, told the British broadcaster BBC that the WTO needs “someone with real experience in trade”. The US had earlier […]
Benin Traders Anxious For Nigeria’s Borders To Reopen
The main border crossing between Benin and Nigeria was buzzing following the announcement it would reopen after more than 16 months, relieving thousands who suffered from the closure. Nigeria said Wednesday it was lifting the closure of its borders with neighbouring Benin and Niger imposed in August 2019 in a move it said would curb […]
Trump Organization Must Turn Over Documents To NY Attorney General, Judge Rules
A state judge ruled Tuesday that the Trump Organization must turn over documents related to a property whose tax abatements were being investigated by New York Attorney General Letitia James’ office. The Trump Organization previously claimed the documents were protected by attorney-client privilege. Amy Carlin, an attorney for the Trump Organization, argued Tuesday that the […]
Nigeria Hits 14.89% Inflation, Food Prices Increase
Nigeria’s headline inflation has increased for the 15th consecutive month to 14.89% in November 2020, from 14.23% in October. The report which was released on Tuesday by the National Bureau of Statistics (NBS) also shows a spike in food inflation which jumped to 18.30% in November from 17.38% the previous month, while core inflation declined […]
FGN Give Two Weeks Ultimatum To Service Providers To Block SIMs Without NIN
The Federal Government of Nigeria has issued an ultimatum to all telecommunications operators in the country to block all Subscriber Identification Modules (SIMs) without National Identification Number (NIN). It also ordered the network operators to ask all their subscribers to provide valid NIN to update their records and suspend SIM registration. These formed parts of […]
Meghan Markle Is Investing In A Trendy Oat Milk Latte Company
Meghan Markle, the Duchess of Sussex, is betting big on oat milk. Markle said Monday she invested in instant oat milk latte company Clevr Brands, which sells four flavors of its powdered drink for $28 per 14-serving bag. The company says its products are sustainable, ethically sourced and healthful. The startup’s CEO Hannah Mendoza started […]
FGN Suspends Issuance Of Free Trade Zones Licence
The Nigerian government has suspended the issuance of licence for the operation of the Free Trade Zones (FTZ) in the country. Minister of Industry, Trade and Investment, Adeniyi Adebayo, announced the decision on Monday at the inauguration of the panel set up for the evaluation of the performance of FTZs. He stated that all applications […]
World Bank Approves $1.5billion Loan To Strengthen Nigeria’s Economy
The World Bank has finally approved Nigeria’s request for a $1.5 billion loan. This was announced in a statement by World Bank on Tuesday noting that the facility is a five-year Country Partnership Framework (CPF) that will last from 2021 to 2024. “This Country Partnership Framework will guide our engagement for the next 5 years […]
South Africa’s Economy Rebounds In Q3 2020 As Lockdown Restrictions Ease
South Africa’s economy rebounded in the third quarter of 2020 (July–September), coinciding with the easing of COVID-19 lockdown restrictions. All industries recorded an increase in economic activity compared with the second quarter, with manufacturing, trade and mining leading the charge. Businesses were supported by an increase in both exports and household spending. According to Africa’s […]
