US Restarts Diversity Visa Lottery for Ghana

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 Kestér Kenn Klomegâh South Africa prepares to host the African Growth Opportunity Act (AGOA) forum to review critical challenges and obstacles adversely impacting trade opportunities and economic cooperation between the United States and Africa. The United States first introduced the African Growth and Opportunity Act (AGOA) in 2000. It is the 20th AGOA forum scheduled from November 2 to 4 in Johannesburg, South Africa. The AGOA Trade and Economic Cooperation Forum seeks to expand and deepen trade and investment relationships between the United States and Sub-Saharan Africa. It also encourages regional integration and further reaffirms Africa’s position as a

By Kestér Kenn Klomegâh The World Bank has approved a $1 billion loan to support South Africa’s energy sector which is currently experiencing worse conditions including inadequate funds for overhauling, renovation and upgrading. Energy experts believe that the World Bank’s loan, which seems the last resort, would pull South Africa out of its persistent energy crisis that has adversely hit industrial production. The energy problem has forced the country to lean on its highly polluting coal-fired power stations and consistent difficulties of generating enough electricity for its 62 million people. The state-run power utility, Eskom, generates approximately 80% of the

By Kestér Kenn Klomegâh Russian President, Mr Vladimir Putin, has held talks with the Equatorial Guinean President, Mr Teodoro Obiang Nguema Mbasogo, who was in Moscow on an official working visit. The visit could be characterized as historic and interpreted as one major step to broadly review the political situation in the Central African region, and specifically assess the prospects for deepening bilateral cooperation between Russia and Equatorial Guinea. As the current rotating Chairman of the Economic Community of Central African States (ECCAS), the regional economic bloc uniting Cameroon, the Central African Republic, Chad, the Republic of Congo, Equatorial Guinea,

By Adedapo Adesanya The Federation of the International Football Association (FIFA) has cancelled the men’s U-20 and U-17 World Cup tournaments in 2021 due to the novel coronavirus. The football body noted in a statement that it had carried out the decision because COVID-19 continues to prove a huge challenge to the organisation of the biennial events. “As a result of the COVID-19 pandemic, the bureau of the FIFA Council has decided to cancel the 2021 editions of the men’s FIFA U-20 World Cup and FIFA U-17 World Cup, and to appoint Indonesia and Peru respectively, who were due to

By Adedapo Adesanya Federal, States, and Local Governments in Nigeria all received a total of N8.15 trillion in 2019 from the Federation Accounts and Allocation Committee (FAAC), a report by the Nigerian Extractive Industries Transparency Initiative (NEITI) has disclosed. NEITI revealed in its latest Quarterly Review report released on Thursday in Abuja that the amount was lower to what was received in the previous year, 2018, by N377 billion equivalent to 4.42 percent. It said the total amount received for that year was N8.52 trillion, while in 2017, the three tiers of government shared N6.42 trillion, which was N1.73 trillion

By Modupe Gbadeyanka Trading activities on the floor of the NASD OTC Market ended last week on a disappointing note with the major indices pointing south. It was observed that the NASD USI decreased by 0.9 percent, closing at 660.03 points in contrast to 666.24 points in the previous week. Consequently, the total market capitalization shed 1 percent during the week, closing lower at N446.65 billion against N450.86 billion in the previous session. During the week, Friesland Campina Wamco Nigeria Plc finished well as its stock closed at N140 against N136 it ended earlier. Furthermore, Niger Delta Exploration and Production

By Modupe Gbadeyanka Shareholders of Tantalizers Plc, Nigeria’s foremost fast food company and the only quoted QSR Company on the Nigeria Stock Exchange (NSE), can be most certain that they will smile when the firm releases its full year 2017 performance. This is because management of the company has expressed business optimism regarding the efficiency of its on-going strategic initiatives aimed at reversing the recent declining profitability in the business. The initiatives, which commenced in the last two years, are designed to totally restructure the business, stem the declining performance and boost shareholders’ funds. Investigations show that as a result

By Michael Owhoko, PhD There are strong indications that the National Water Resources Bill 2020 will soon be reintroduced at the National Assembly. If passed into law, communities and people living along waterfronts in the country, particularly Niger Delta Region, Lagos State and other aquatic areas in the country will be deprived of their major source of livelihood, fishing. Besides, the 13 per cent oil derivation fund from offshore fields accruing to littoral states may also be forfeited to the federal government. Over 80 per cent of riverine communities play host to offshore acreages in the Niger Delta region. The

By Adedapo Adesanya  Prices of crude oil further increased at the global market for the third consecutive day on Thursday as major crude futures rose, spurred by the possibility of output cuts as increase in the number of COVID-19 cases in China lowered forecasts for oil demand growth. Brent crude, the international benchmark, gained 36 cents or 0.65 percent to trade at $56.15 per barrel, while the US West Texas Intermediate (WTI) crude gained 17 cents or 0.33 percent to trade at $51.34 per barrel. Market analysts said that the confirmed cases of COVID-19 (or coronavirus) recently rose in China’s

By Adedapo Adesanya  Kenya has announced a 15 per cent reduction in power costs, handing relief to thousands of homes and industries burdened by the high cost of living and production. The East African country’s Ministry of Energy in a statement released in the capital Nairobi said the reduction takes effect immediately and would cover the entire 2022 period. “The tariff reduction is a fulfilment of a commitment made by President Uhuru Kenyatta to the nation, that the first tranche of reduction, 15 per cent, will be reflected in the bills covering the end of the year in 2021,” said

In demonstration of its commitment to promote and support healthy living amongst Nigerians, Keystone Bank Limited has partnered with “The TunMicro Sickle Cell Foundation”, a UK-based humanitarian organization and ‘Slum2School Africa’ to create awareness about Sickle Cell Disorder (SCD) in Lagos. According to the lender, the initiative is part of its efforts to commemorate the 2019 World Sickle Cell Day which holds in June. World Sickle Cell Day was established by the United Nations General Assembly in 2008 in order to increase the awareness about the sickle cell disease and its cure among the common public. During the week-long awareness