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22-August-2023

BRICS and Africa: Balancing Interest Between Geopolitics and Development

By Kestér Kenn Klomegâh BRICS (Brazil, Russia, India, China and South Africa), a group of emerging market powers and one of the most popular organizations, seeks to approve African States into its fold and build on its existing economic and trade with other invited African leaders during the 15th summit in Johannesburg, South Africa. The BRICS members are meeting to deliberate on a broad range of important multiple issues, including new membership, common currency, various parameters of development and security and institutional architecture. More than 70 states are participating, including African leaders, while 23 States have submitted formal applications to

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21-August-2023

Shettima to Represent Nigeria at 15th BRICS Summit in Johannesburg

By Adedapo Adesanya  The Vice President, Mr Kashim Shettima, has departed Abuja for Johannesburg, South Africa, to represent President Bola Tinubu at the 15th BRICS Summit of Heads of State and Government. BRICS, an acronym for Brazil, Russia, India, China and South Africa, is a group of five major emerging and developing economies. In a statement released on Monday by Mr Olusola Abiola, the Director of Information in the Office of the Vice President, it was stated that the VP would be joining other business and political leaders across the world at the summit scheduled for the Sandton Convention Centre,

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08-August-2023

Afreximbank Advances AfCFTA at 2nd Russia-Africa Economic Forum

By Kestér Kenn Klomegâh With the prevalent dependency of African economies on the external supply of fertilizers and grains and up to 30% of cereals imported from Russia, ensuring that critical trade flows continue uninhibited remains the priority of Afreximbank and its African member states. The lingering global food security challenges and the critical role trade with Russia play in guaranteeing Africa’s food security were at the core of discussions for Afreximbank at the second Russia African Economic and Humanitarian Forum, which was held at St. Petersburg from the 27th to the 29th of July, 2023. Addressing the summit, Professor

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04-August-2023

ECOWAS Delegates Leave Niger Empty-Handed

By Adedapo Adesanya Delegates from the Economic Community of West African States (ECOWAS) left Niger without meeting the leader of the junta, which seized power in a coup. The regional bloc team, led by former Nigerian Head of State, Mr Abdulsalami Abubakar, initially due to meet the head of the military junta, General Abdourahamane Tiani, to present ECOWAS’s demands, could not achieve why they were in the nation, which shares a border with Nigeria. It was said that the delegation arrived in the capital Niamey on Thursday “but did not spend the night” as scheduled or met with the coup

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04-August-2023

Global Food Prices Increase in July 2023—FAO

By Adedapo Adesanya The United Nations Food and Agriculture Organisation (FAO) said the price of food rose in July 2023, led by a solid rise in the vegetable oils price index, partially offset by a significant decline in the sugar price index, together with small decreases in the price indices for cereals, dairy and meat. The FAO Food Price Index (FFPI), released on Friday, showed that food prices averaged 123.9 points in July 2023, up 1.5 points (1.3 per cent) from June but remaining 16.6 points (11.8 per cent) below its value in the corresponding month last year. The FAO

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03-August-2023

UK Launches Propcom+ Climate Programme in Nigeria

By Adedapo Adesanya As the United Kingdom intensifies efforts to boost sustainable development, it has launched Propcom+, a programme aimed at supporting climate and growth by addressing environmental, social, and economic challenges in Nigeria’s food and land-use system. This was announced by UK Foreign Secretary James Cleverly, who noted that a £55 million contract and £2.89 million grant were part of the larger £95 million Propcom+ eight-year UK International Climate Finance programme. The programme will support climate-resilient and sustainable agriculture and forestry that benefits people, climate, and nature. The programme aims to reach more than 4 million people, 50 per

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03-August-2023

Coup: Nigeria Cuts Power Supply to Niger

By Adedapo Adesanya Nigeria has cut the electricity supply to the Niger Republic as part of sanctions after military men took over the government in a coup which ousted President Mohamed Bazoum. The Transmission Company of Nigeria (TCN), which is responsible for supplying power to the neighbouring country, severed the connection that supplies electricity to Niger. The country provides around 70 per cent of power to its neighbours, which comes directly from the national grid. The action of the TCN is coming as the Economic Community of West African States (ECOWAS) imposed severe economic sanctions on Niger and threatened to

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31-July-2023

African Union’s Voice for Restoration of Black Sea Grain Deal Stripes on Russian Rocks

By Kestér Kenn Klomegâh African delegates to the second Russia-Africa summit held in St. Petersburg July 27-28 expressed sadness over Russia’s fierce resistance to renewing its membership of the Black Sea grain deal that allowed Ukraine to export grain through its Black Sea ports to the world. The African Union, the continental organization, has passionately called for an “urgent” restoration of the Black Sea grain deal with Russian President Vladimir Putin. “The problem of grains and fertilizers concerns everyone,” Comoros President Azali Assoumani, who currently heads the African Union, said at a summit with Russia in St. Petersburg. African countries

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30-July-2023

ECOWAS Threatens to Invade Niger to Reinstall President Bazoum

By Modupe Gbadeyanka The junta in Niger Republic has been given a seven-day ultimatum to restore democracy in the country and return President Mohammed Bazoum to power. The military was given this directive by the Economic Community of West African States (ECOWAS) after its emergency meeting in Abuja on Sunday. In a communique issued at the end of the Extraordinary Summit on Socio-Political Situation in the Republic of Niger read by the President, ECOWAS Commission, Mr Omar Touray, the Heads of State and Government of ECOWAS rejected any form of purported resignation by President Bazoum and declared him as the

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01-October-2023

Boosting Website Performance: Tips for Speed and Efficiency

By Rahul Baitha In today’s digital age, where instant gratification is the norm, website performance plays a critical role in delivering a positive user experience. Visitors expect websites to load quickly and respond seamlessly to their interactions. If your website lags or stumbles, you risk losing valuable traffic and potential customers. As a web designer or business owner, optimizing your website’s performance should be a top priority. In this comprehensive guide, we’ll explore essential tips and techniques to boost your website’s speed and efficiency. Understanding Website Performance Before diving into optimization strategies, it’s essential to grasp the fundamentals of website

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01-October-2023

NDLEA Nabs Suspected Kingpin in UK Drug Export Bust

By Adedapo Adesanya The National Drug Law Enforcement Agency (NDLEA) has arrested a suspect wanted for attempts to ship illicit drug consignments to the United Kingdom. This was made known in a statement signed by the NDLEA spokesman, Mr Femi Babafemi, on Sunday. He further disclosed arrests made by NDLEA operatives through interdiction operations that led to the seizure of four tons of illicit substances in the past week. According to the agency, the suspect, Mr Obiorah Chigozie, had been on its wanted list since September 15. This, he said, was when a consignment of 1.500kg skunk concealed in flour

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01-October-2023

BUA Cement Slashes Ex-Factory Prices to N3,500

By Aduragbemi Omiyale The management of BUA Cement Plc has announced a reduction in the prices of its cement from its factory without the transportation costs to N3,500 per bag (50kg). The cement maker confirmed this development in a statement issued on Sunday, noting that it was part of efforts to make sure customers get the products at cheaper prices. In the statement, BUA Cement disclosed that the slash in cement prices is from Monday, October 2, 2023, urging its distributors not to fleet the end users. The firm said, “All pending, undelivered orders which had been paid for at

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01-October-2023

NITDA Opens Applications for Tech Accelerator Fellowship

By Adedapo Adesanya The federal government through the National Information Technology Development Agency (NITDA) has opened applications for a tech startup accelerator fellowship program to empower Nigerians with innovative ideas. The Minister of Communications, Innovation and Digital Economy, Mr Bosun Tijani, said the preparations for the training commenced in August with a meeting of stakeholders in tech to co-create innovative ways to achieve the target. He added that the meeting was the first in a series of ecosystem engagements to ensure that the government gets the best solutions from within. The new initiative from the NITDA is part of the

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01-October-2023

Nigeria @ 63: Tinubu Promises Relief in First Independence Broadcast

By Adedapo Adesanya The President of Nigeria, Mr Bola Tinubu, has promised relief amid reforms that have increased hardships among Nigerians in his first Independence Day broadcast on Sunday. Nigeria is marking her 63rd Independence anniversary. Speaking during a brief broadcast, President Tinubu said his reforms, including fuel subsidy removal and unification of exchange rates, have come with some effects, which he admitted were painful but are needed. He announced that small businesses would get much support while an additional N25,000 would be given to low-income earners for six months to cushion the hardship. Mr also promised housecleaning at the

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30-September-2023

Mediacraft Associates Employees Get 25% Pay Rise

By Modupe Gbadeyanka The salaries of employees of Mediacraft Associates Limited, a leading Nigerian full-service Public Relations and Integrated Brand Communications Consultancy firm, have been increased by 15 and 25 per cent. This was confirmed by a statement from the organisation as it celebrates its 20th anniversary this year. It was disclosed that the gesture was to reward the efforts of the workers toward the growth of the company and to cushion the current hardships in the country due to the removal of petroleum subsidy. According to the chief executive of Mediacraft Associates, Mr John Ehiguese, the salary increase had

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30-September-2023

Are Audio Streaming Platforms in Your Marketing Mix? They Should be

By Mark Redguard Walk down the streets of any major city around the world and take a look at all the people you pass along the way. Chances are you’ll see more people wearing earphones and headphones, in all of their shapes and sizes, than not. Most of those people, whether they’re consuming music or podcasts, will be listening through an audio streaming platform. In fact, Spotify’s 500 million-plus users spent more than 132 billion hours streaming audio on the platform in 2022.  And that’s just Spotify. Factor in other platforms, including the likes of Mdundo and Audiomack, and the

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30-September-2023

Unlisted Stock Investors Grow Market to N1.105trn

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange rose by 0.38 per cent on Friday, September 30, with N4.16 billion added to the value of the bourse, closing at N1.105 trillion compared with Thursday’s value of N1.101 trillion. The market witnessed the improvement a day after the shares of VFD Group were yanked off the trading platform, with the NASD Unlisted Securities Index (NSI) closing higher by 3.06 points to settle at 815.65 basis points versus the previous day’s 812.59 basis points. There were three gainers led by FrieslandCampina Wamco Nigeria Plc, which improved by N1.31 to close at

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30-September-2023

Naira Appreciates on Dollar Across FX Market Segments

By Adedapo Adesanya The Naira appreciated against the US Dollar in the Investors and Exporters (I&E), the Peer-to-Peer (P2P), and the black market arms of the foreign exchange (forex) market on Friday, September 29, as a turbulent third quarter ended. In the official segment, the local currency improved its value against the greenback by 2.6 per cent or N20.04 to close at N755.27/$1, in contrast to the preceding day’s N775.31/$1 amid a drop in the supply of FX into the system by 11.6 per cent or $16.73 million to $127.82 million from the $144.55 million published on Thursday. In the

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30-September-2023

Brent, WTI Shrink on Macroeconomic Worries, Profit Taking

By Adedapo Adesanya The prices of Brent futures and the US West Texas Intermediate (WTI) futures went down by about 1 per cent on Friday, due to macroeconomic concerns and sustained profit-taking. Data showed that Brent fell by 7 cents to $95.31 per barrel and WTI depreciated by 92 cents to $90.97. Prices rose about 30 per cent in the third quarter of the year helped by the production cuts by the Organisation of the Petroleum Exporting Countries and allies (OPEC+). This action squeezed global crude supply. Brent was about 2.2 per cent in the week and 27 per cent