China Fights Back, Orders Closure of US Consulate

By Adedapo Adesanya The African Development Bank Group (AfDB) and the ECOWAS Bank for Investment and Development (EBID) have signed an agreement for a dual currency line of credit comprising $50 million and €50 million to support local agricultural businesses in West Africa. The credit lines are expected to strengthen food security, economic growth, and employment generation. The President and Chairman of the Board of Directors of EBID, Mr George Agyekum Donkor and Mr Solomon Quaynor, AfDB Vice President for Private Sector, Infrastructure, and industrialisation, formalised the agreement during a signing ceremony at the bank’s headquarters in Abidjan, Côte d’Ivoire.

By Adedapo Adesanya Three scientists will share the Nobel Prize in Physics as the Royal Swedish Academy of Sciences recognised Pierre Agostini, Ferenc Krausz and Anne L’Huillier as this year’s recipients for experimental methods that generate attosecond pulses of light for the study of electron dynamics in matter. The three Nobel Laureates in Physics 2023 were recognised for their experiments, which have given humanity new tools for exploring the world of electrons inside atoms and molecules. BREAKING NEWSThe Royal Swedish Academy of Sciences has decided to award the 2023 #NobelPrize in Physics to Pierre Agostini, Ferenc Krausz and Anne L’Huillier

By Adedapo Adesanya The African Development Bank Group (AfDB) has urged entrepreneurs in Nordic countries and Ireland to make Africa their business and investment destination. According to a statement, the call was made by the lender’s Chief Economist, Mr Kevin Chika Urama, on a spate of official visits to Denmark, Finland, Ireland, Norway, and Sweden between September 25 – 29. He said Africa’s population boom is projected to make it the world’s most populous region by the end of the century, with up to 3.4 billion people offering huge business and investment opportunities to the rest of the world. “With

By Adedapo Adesanya Prices of food in the globe remained unchanged in September 2023, according to measuring indices by the United Nations’ Food and Agriculture Organisation (FAO). The FAO Food Price Index (FFPI) averaged 121.5 points in the month under review, almost unchanged from its value in August, as declines in the price indices of vegetable oils, dairy and meat had offset increases in the sugar and cereal price indices. At this level, the index stood 14.6 points (10.7 per cent) below its corresponding level a year ago and 38.3 points (24.0 per cent) from the all-time high reached in

By Adedapo Adesanya The Akwa Ibom State Council of Chiefs has shown support for the Governor of the state, Mr Udom Gabriel Emmanuel, who has since come under various attacks in the media following his re-election for a second term in office. In a press release titled, “Let’s Respect the People’s Will for the Reign of Peace, Justice and Progress”, the traditional rulers said it was illogical for a process that was deemed free, fair, transparent and acceptable to be canvassed for annulment. The statement which was signed for and on behalf of the council by HRM Nteyin Solomon D.

By Modupe Gbadeyanka For the second day in a row, prices of crude oil slumped on Wednesday with rising US oil output adding pressure on the market, although OPEC production cuts continued to offer support. Investors in the oil market are awaiting weekly inventories data from the US Energy Information Administration due at 1530 GMT on Wednesday. West Texas Intermediate crude futures lost 15 cents, or 0.3 percent, to $53.86 a barrel by 0723 GMT, and Brent crude gave up 13 cents, or 0.2 percent, to $56.38. “Signs that the U.S. shale industry is recovering weighed on the market,” ANZ

By Adedapo Adesanya The National Health Insurance Authority (NHIA) has commended President Muhammadu Buhari for signing into law the NHIA Act, saying health insurance for all Nigerians by 2030 is now more realisable. The NHIS Deputy General Manager, Mr Emmanuel Ononokpono, in a statement said, “For over two decades, industry professionals had sustained the call for an amendment to the health insurance law, being a major impediment to the attainment of Universal Health Coverage (UHC). “By this development, efforts to tackle the high incidence of poverty caused by out-of-pocket expenses for health care, through health insurance for all categories of

By Adedapo Adesanya Only a single deal was carried out on the trading platform of the NASD Over-the-Counter (OTC) Securities Exchange on Wednesday. For the past two weeks, trading activities the exchange have been very low especially as investors continue to monitor events from across the globe. The coronavirus pandemic has made several economic activities to remain standstill and here in Nigeria, government has asked those in Lagos, Abuja and Ogun State to remain indoors to stop the spread of the virus. As a result, trading on the NASD OTC market has been done remotely. At the midweek session, the

By Modupe Gbadeyanka The economy of Nigeria can be revived and the diversification agenda of President Muhammadu Buhari-led administration can be achieved through quality seeds. This submission was made by the Minister of Agriculture and Rural Development, Mr Muhammad Sabo Nanono, on Tuesday in Abuja during the debriefing of outcomes of socio-economic surveys by the International Crops Research Institute for the Semi-Arid Tropics (ICRISAT) and Partners in Nigeria. He described quality seeds as the bedrock of crop production that would ensure food nutrition and sufficiency, job creation and economic growth in Nigeria. “As you are aware, sorghum and millet provide

By Modupe Gbadeyanka A veteran Yoruba Actor, Prince Adewale Adeyemo, has died, reports reaching us revealed. This is coming a few days after a renowned actor in the same industry, Murphy Afolabi, passed on after a domestic accident. It was gathered that Prince Adewale Adeyemo died after a brief illness. Recall that in 2021, the role interpreter was said to have had issues with his kidney, lung and liver. He cried to the public for assistance to raise funds for surgery. Confirming his death, another popular actor, Kunle Afod, disclosed that the actor breathed his last in the earlier hours

By Dipo Olowookere A new report released by Nigeria’s first credit rating and research agency, Agusto & Co., has placed Stanbic IBTC Bank Plc as the best digital bank in the country. Agusto & Co., in its Digital Banking Satisfaction Index report, disclosed that the bank was rated based on its seamless e-banking experience. It was stated that the 2018 Digital Banking Satisfaction Index report highlighted customer’s preferences and attitude towards digital banking platforms provided by banks in Nigeria. Digital banking in Nigeria is constantly evolving but one thing we are almost certain of is that it has come to

By Kester Kenn Klomegah In this Eurasia Review interview, Natalie Pavlovna Neporada, Head of the International Recruitment and Cooperation Department of the Russian University of People’s Friendship or popularly referred to as RUDN, talks about recruitment of graduates for employment in Africa, and further about efforts at identifying various sectors with job opportunities and diverse ways to increase the number of specialists from Russian universities to support humanitarian cooperation between Russia and Africa. Her university is an educational and research institution located in Moscow. It was established in 1960 to provide higher education to Third World students. It became an