World
World Food Prices Fall Seventh Straight Month in February 2024

By Adedapo Adesanya
The world price index fell in February for a seventh consecutive month as lower prices for all major cereals more than offset the rising price of sugar and meat, according to data from the United Nations food agency, the Food and Agriculture Organization (FAO).
The price index, which tracks the most globally traded food commodities, averaged 117.3 points in February, down from a revised 118.2 points the previous month, the agency said on Friday.
The February reading was the lowest since February 2021.
The cereal index fell 5 per cent month-on-month in February to stand 22.3 per cent below its level a year ago thanks to expectations of large maize harvests in South America and competitive prices offered by Ukraine.
In line with the softer tone in wheat and maize markets, world prices of barley and sorghum also eased. International rice prices edged down by 1.6 per cent in February, as, aside from Indonesian purchases, fresh import demand remained broadly slow and new-crop harvests began in some suppliers.
Vegetable oil prices fell 1.3 per cent in February from January to stand 11 per cent below year-ago levels amid prospects for abundant South American supplies. Rapeseed and sunflower oil prices also fell, thanks to ample exports.
The UN agency’s sugar index, by contrast, rose 3.2 per cent month-on-month in February, reflecting persistent concerns over top producer Brazil’s upcoming output and forecast production declines in Thailand and India.
Improved precipitation in late February in the key growing areas of Brazil and the weakening of the Brazilian Real against the United States Dollar contained the rise in world sugar prices.
FAO Meat Price Index averaged 112.4 points in February, up by 2.0 points (1.8 per cent) from January, reversing the seven months of consecutive drops, and standing 0.9 points (0.8 per cent) below its corresponding value a year ago.
Bovine meat prices were due to lower-than-anticipated supply from Australia, as heavy rains disrupted cattle transportation from major producer regions.
Meanwhile, pig meat prices increased slightly due to higher demand from China, together with higher internal demand in Western Europe amidst a lingering tight supply situation. By contrast, international ovine meat prices declined due to a slowdown in the pace of imports by China and a record-breaking production following flock rebuilding in Australia.
In a separate report on cereal supply and demand, the agency raised its estimate for 2023 cereal output by 1.1% from the previous year to 2,840 million metric tons thanks to increased maize supplies in Brazil, China and the United States.
Looking ahead to 2024, the UN agency pegged wheat output up 1 per cent from a year earlier at 797 million tons thanks to favourable weather in North America and top exporter Russia, as well as in China, India, Iran, Pakistan and Turkey.
World
Moscow: World-Renowned Fashionable City

By Kestér Kenn Klomegâh
Moscow is increasingly becoming popular among foreigners due to multiple reasons among them is its fashionable architecture and friendly people. Moscow’s architecture is world-renowned. In addition, Moscow’s status as the spiritual center of Russian orthodoxy and metropolitan buildings attract tourists from around the world. For much of its architectural history, Moscow is dominated by Orthodox churches.
Situated on the banks of the popular Moskva river, cultural parks and recreational centers offer an additional attraction especially during spring, summer and autumn seasons. The city has a population estimated at over 13 million. And public transport system is excellent for easy and fast connection to any part of the city. Today, the Moscow Metro comprises twelve lines, mostly underground with a total of 203 stations.
Moscow mayor Sergei Sobyanin shares in an interview with local Russian media that Moscow is becoming the world’s best megacity. But for South African Fashion entrepreneur, Stephen Manzini, Moscow’s contrasting features make it more fashionable to explore for fun and entertainment. Read Stephen Manzini’s impressions here:
Would you describe Moscow as a ‘fashionable’ city, if fashion is not limited to clothes and bags?
Moscow can be described as a fashionable city if it wasn’t for the weather. We would see beautiful display of runway pieces on the streets, however we do see this in indoor spaces it’s just overshadowed outdoors by the winter coats and jackets. Walking about Moscow does give you a European fashion appeal.
But Moscow as a fashionable city, do you think it is inaccessible from consumers, from tourists?
Moscow the fashionable city can be accessible to consumers. However when it comes to tourists, it’s a bit inaccessible as it takes on-site education to understand the dynamics. It cannot be understood from a distance due to the neo-propaganda that overshadows it.
Do you mean to conclude that cities such Venice, Miami, New York and London are more fashionable and attract more customers, tourists than Moscow?
Moscow’s tourism industry is barely in existence. To no fault of it’s own. Unfortunately, global online search engines are very unkind in referring to it as an undesirable tourist destination.
How then would you suggest rebranding Moscow?
The rebranding of Moscow would have to be intentional and would not happen overnight. It will have to start at a political level and then cascade it’s way to media and tourism.
World
Shockwaves Over Trump’s Tariffs Reverberate Across Africa

By Kestér Kenn Klomegâh
After taking office early 2025, U.S. President Donald Trump has embarked on rewriting American foreign policy and plans to create a new geopolitical history under the “America First” doctrine.
The first three months have seen efforts to implement tariffs, which finally was splashed early April world-wide, including on a grand scale across Africa.
Seemingly, a blanket of tariffs is one of the standout actions of the new administration. Trump’s changing approach to the world, using geoeconomic tools, including tariffs has now sparked extensive debates and discussions.
Our media chief, Kestér Kenn Klomegâh, took a quick chance and asked Vsevolod Sviridov, deputy director at the High School of Economics (HSE) University Center for African Studies, a few questions pertaining to the aspects and implications of the U.S. tariffs for Africa. Here are the interview excerpts:
How would you interpret trade war between China and the United States?
There has been a global trend towards overspending over the last two decades. We have seen commodity boom, rise of China with its global investments drive and infrastructure development projects like BRI, excessive budget spending by the OECD countries during COVID-19, etc. Now countries are trying to optimize their spending. Considering that there is a certain trend towards deglobalization, external trade and deficits are the first to fall victims to this policy. While China almost halved its lending, US are trying to cut their ODA (see South Africa’s case) and adjust their trade deficit, which is fuelling their vast debt.
What could be the reasons for Donald Trump to extend that kind of economic policy, trade tariffs, to Africa?
His latest actions indicated that was possible. Trump has imposed increased tariffs on 14 African countries, including South Africa (30%), Madagascar (47%), Tunisia (28%), Côte d’Ivoire (21%), and others. The primary selection criterion was the trade deficit with the U.S., though there are exceptions, such as Libya, which was left off the list despite a US$1 billion deficit. Additionally, seven more countries, including Egypt, Morocco, and Kenya, will face a base tariff of 10%, meaning that for Washington stable relations with them are more important.
The hardest-hit country will be Lesotho (50%), where the textile industry, heavily reliant on the U.S. market, will suffer. However, South Africa will bear the greatest overall impact, as it accounts for 70% of the U.S.-Africa trade deficit. In addition to the 30% base tariff, there will be an extra 25% duty on imported cars. This will affect factories operated by VW, Toyota, BMW, and other automakers, whose exports to the U.S. total US$2-3 billion annually. Angola, which had backed the Democratic Party, is also facing penalties (32%).
If these tariffs take effect as announced, they could lead to the collapse of African Growth and Opportunity Act (AGOA). However, the U.S. has not needed AGOA as much since the 2010s when it reduced dependence on African oil and gas. AGOA is set to expire in September 2025, and Trump’s actions make its renewal highly unlikely.
Trump has suggested that affected countries relocate production to the U.S., but this is difficult for African nations that mainly export raw materials. The new tariff preference system is expected to consider political and economic factors, making it less predictable and less favourable for African suppliers. On the other hand, this shift could encourage African countries to focus on regional markets and develop industries tailored to their domestic economies.
It could be excellent, from academic perspectives, to evaluate and assess the impact of AGOA in relation to Africa?
For Africa, the African Growth and Opportunity Act (AGOA) meant establishment of several mainly export-oriented industries, like textile or car manufacturing. For instance, almost 2/3 of cars manufactured in RSA are being exported to US and Europe, with only 1/3 being sold on the local market and tiny part exported to other African countries (20k out of 600k prod).
They created employment opportunities for locals but never contributed to local markets and industries development, technology and knowledge sharing. Collapse of AGOA would mean additional opportunities for African industries and producers to target local and regional markets and develop industrialization strategies considering their national interests first (like Trump does).
Assessing the reactions over the tariffs world-wide, and talking about the future U.S.-Africa trade, and the African Continental Free Trade Area (AfCFTA), what next for Africa?
The African Continental Free Trade Area (AfCFTA) gives Africa a chance to embark on the hard and long journey of developing intraregional trade. Still this emerging market could be easily used by non-African suppliers as a tool to expand their presence, given that without protection nascent African industries are hardly able to compete in price and from time to time in quality. Especially now, when we are clearly seeing that the US are more interested in selling then buying. So any external aid and knowledge sharing assistance in this sphere should be received with caution.
World
Trump’s Tariffs Will Affect Global Trade—Okonjo-Iweala

By Adedapo Adesanya
The Director-General of the World Trade Organisation (WTO), Mrs Ngozi Okonjo-Iweala, has said the recent tariffs announced by the United States would have substantial implications for global trade and economic growth prospects.
Mrs Okonjo-Iweala said this in a statement in reaction to recent tariffs imposed on goods from other countries by US President Donald Trump.
The WTO DG added that the organisation was closely monitoring and analysing the measures announced by the United States on April 2, 2025.
She noted that many members have reached out to the WTO and the organization is actively engaging with them in response to their questions about the potential impact on their economies and the global trading system.
“While the situation is rapidly evolving, our initial estimates suggest that these measures, coupled with those introduced since the beginning of the year, could lead to an overall contraction of around 1 per cent in global merchandise trade volumes this year, representing a downward revision of nearly four percentage points from previous projections.
“I’m deeply concerned about this decline and the potential for escalation into a tariff war with a cycle of retaliatory measures that lead to further declines in trade,” the WTO DG stated.
She, however, noted that despite the emerging tariffs war, the vast majority of global trade is still being conducted under the WTO’s Most-Favored-Nation (MFN) terms.
“Our estimates now indicate that this share currently stands at 74 per cent, down from around 80% at the beginning of the year. WTO members must stand together to safeguard these gains,” the former Nigeria’s Finance Minister said.
Nevertheless, Mrs Okonja- Iweala urged caution while advising members to utilise the platform of WTO to prevent the tariff war from escalating.
“Trade measures of this magnitude have the potential to create significant trade diversion effects. I call on Members to manage the resulting pressures responsibly to prevent trade tensions from proliferating.
“The WTO was established to serve precisely in moments like this — as a platform for dialogue, to prevent trade conflicts from escalating, and to support an open and predictable trading environment. I encourage Members to utilize this forum to engage constructively and seek cooperative solutions,” she remarked.
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