Shettima to Represent Nigeria at 15th BRICS Summit in Johannesburg

Kestér Kenn Klomegâh South Africa hosted the 15th BRICS summit from August 22 to 24. The BRICS (Brazil, Russia, India, China and South Africa) members have thoroughly discussed a wide range of significant issues, including the bloc’s expansion, common currency, investment and trade, the bloc’s strategy and geo-policy. We already know that BRICS members consistently champion the rights and interests of Africa and also play an increasing role and influence in the global governance system – particularly international financial and economic organisations. Holding the 15th summit, especially this crucial time, within the context of the emerging multipolar world, BRICS discussed

By Adedapo Adesanya A new insight has shown that 20 out of 54 African countries have restricted internet access amid elections since 2015. According to Surfshark’s Internet Shutdown Tracker, over the last eight years, 30 countries and territories in the world have restricted the internet amid elections, affecting 2.3 billion people globally. It found that out of these countries, 20 of them were on the African continent, including the most recent in Zimbabwe and Gabon; both countries held elections in August and restricted internet access. The survey found that out of the 20 countries that have restricted internet during elections since

By Adedapo Adesanya Gabon has become the latest African country to experience a military takeover as military officers appeared on television on Wednesday night, announcing they were putting an end to the current regime and cancelling an election that saw President Ali Bongo Ondimba win another extension to his rule. Mr Bongo’s whereabouts are unknown, according to reports as of press time. While announcing the cancellation of the vote results, one of the officers said “all the institutions of the republic” had been dissolved. The address was read by an officer flanked by a group of a dozen army colonels,

By Adedapo Adesanya African Development Bank (AfDB) President, Mr Akinwumi Adesina, has called for investments in renewable energy in Africa, pointing out the continent’s rich energy mix. In his keynote address (on September 4) during a session on Harnessing Africa’s renewable energy potential’, held at the ongoing Africa Climate Summit in Nairobi, Kenya, Mr Adesina stressed that “Every economy can only go as far as the energy it produces.” Mr Adesina underlined Africa’s tremendous potential in energy—from hydro and wind power, solar, to geothermal—which remains untapped in the face of a staggering electricity deficit on the continent. Africa has an

By Adedapo Adesanya Private creditors have established the Africa Private Creditor Working Group (AfricaPCWG) to assist African countries and other debt providers to contain the economic impact of COVID-19 across the continent. African governments are fighting to manage the fallout from the coronavirus, which the World Health Organisation has warned could infect between 29 million and 44 million on the continent in the first year if not contained. African countries face a combined $44 billion debt-servicing bill this year alone. AfricaPCWG is an initiative to represent the views of international private creditors invested in Africa and to work with countries

By Adedapo Adesanya As the December 12 general election in the United Kingdom move closer, the Pound Sterling continues to dominate as evident on Friday, December 6 when the Naira depreciated further to trade at N468/£1 at the parallel segment of the foreign exchange market. This would be the third consecutive day that the Nigerian currency would depreciate against its British counterpart at the black market. On Wednesday (December 4), it exchanged at N466/£1. The next day, Thursday (December 5), it weakened to N467/£1 before closing the week on Friday at N468/£1. Business Post reports that on Thursday, the Pound

By Adedapo Adesanya The international benchmark, Brent crude, reached the $25 per barrel region on Wednesday, recording its biggest-ever quarterly and monthly losses in history. The oil market, impacted heavily by COVID-19, has led governments to restrict movements, causing drop in demand for the commodity to crash prices. Yesterday, the Brent crude traded down by 2..54 percent or 67 cents to $25.68, while the United States West Texas Intermediate (WTI) crude appreciated by 4.20 percent or 86 cent to $21.34 per barrel. Both benchmarks lost roughly two-thirds of their value in the first quarter of the year with March accounting

By Modupe Gbadeyanka The Managing Director and Chief Executive Officer of Heritage Bank Plc, Mr Ifie Sekibo, has been named as Banker of the Year 2021 under SMEs and Agric category. The Heritage Bank CEO won this award at the New Telegraph 2021 Awards held recently in recognition of his leadership position in delivering sterling development and growth of the agricultural sector and the Small and Medium Enterprises (SMEs). Receiving the award on behalf of the bank’s CEO, the Executive Director, Jude Monye stated that the bank was honoured and motivated to do more for the sustainability and growth of

By Modupe Gbadeyanka Immediate-past governor of Delta State and All Progressives Congress 2019 Delta South senatorial candidate, Dr. Emmanuel Eweta Uduaghan, has opened up on the downgrade of the Asaba International Airport by the Nigeria Civil Aviation Authority (NCAA), few days to his exit as the governor of the oil-rich state in 2015. The Nigerian government through the NCAA had downgraded the Asaba airport over the failure of Delta State government to put in place safety and security measures at the airport. The development temporarily shut down the operation of the airport as only Dash 8-Q 400 aircraft or its

By Modupe Gbadeyanka President Muhammadu Buhari will, on Monday, October 31, 2022, leave the shores of Nigeria for London, the United Kingdom, for a medical check-up. A statement issued today by the Special Adviser to the President on Media and Publicity, Mr Femi Adesina, disclosed that Mr Buhari is expected back into the country in the second week of November. “President Muhammadu Buhari leaves for London, United Kingdom, on October 31, 2022, for a routine medical check-up. “He returns to the country in the second week of November 2022, the terse statement from Mr Adesina said. President Buhari has regularly

By Adedapo Adesanya The World Health Organization (WHO) has donated emergency medical supplies to Anambra State in response to the flood disaster that has severely affected over 600,000 persons in seven local government areas (LGAs). In Nigeria, 35 states were devastated by flooding in 2022, and Anambra State, located in the Southeast region, is one of the worst-hit areas. As part of WHO’s emergency response to Anambra state, the organization supported the state government in setting up health clinics and other emergency services to urgently confront the health consequences of the disaster. The WHO State Coordinator (SC), Dr Adamu Abdulnasir,

By Adedapo Adesanya Standard & Poor’s (S&P) Global Ratings has affirmed its ‘AAA/A-1+’ long- and short-term issuer credit ratings on the African Development Bank (AfDB). The rating agency in its latest rating positively assessed the bank’s very strong financial risk profile, very strong capital adequacy, strong funding and liquidity, extraordinary shareholder support and adequacy of its governance and management. The global rating agency also stated that the outlook of the Abidjan-based multilateral institution remains stable. “We are therefore affirming our ‘AAA’ long-term issuer credit rating on the AfDB,” S&P Global stated. The rating agency noted the bank’s $115 billion capital