World Bank Targets COVID-related Projects in 100 Countries

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 Professor Maurice Okoli Over the past few years, African Union, the continental organization, has made intra-African trade its newest flagship and has created the Intra-African Trade Fair (IATF), which provides a unique and valuable platform for potential investors to support the continent’s transformation through industrialisation and export development, for businesses to access adequate trade and market information, and operate in an integrated single African market of over 1.4 billion people with a combined gross domestic product of over $3.5 trillion under the African Continental Free Trade Area (AfCFTA). Organized by the African Export-Import Bank (Afreximbank), in collaboration with the

By Kestér Kenn Klomegâh The African continent is one of the fastest-growing energy markets in the world. This is due to the growing economic and demographic potential of African countries, as well as the efforts of many of them to combat climate change. Despite having passed through a long period of tumultuous post-colonial era, Africa’s efforts to ensure effective energy cooperation with leading global powers has not been an easy journey down the years. Until today, more than half of the estimated 1.4 billion still have no access to electric power for domestic utilization while industries continue suffering from frequent

By Adedapo Adesanya The Nobel Committee has awarded the 2023 Nobel Peace Prize to jailed Iranian activist, Ms Narges Mohammadi, for her fight against the oppression of women in Iran and her fight to promote human rights and freedom for all. In a statement announced on Friday, Ms Mohammadi was recognised for her brave struggle which has seen her arrested 13 times, convicted five times, and sentenced to a total of 31 years in prison and 154 lashes. As of the moment of her recognition for the prize, Ms Mohammadi is still in prison after her role in the largest

By Dipo Olowookere Investors at the Nigerian Stock Exchange (NSE) traded a total of 751.6 million financial stocks worth N6.4 billion last week in 8,086 deals. This made the financial services sector to lead the activity in the trading week and contribute 68.53 percent and 38.43 percent to the total equity turnover volume and value respectively. Following were the consumer goods industry with 141.5 million shares worth N8.5 billion in 2,427 deals and the conglomerates sector with a turnover of 101.8 million shares worth N203.2 million in 956 deals. Access Bank, Nigerian Breweries and Custodian Investment accounted for 494.7 million

By Dipo Olowookere The board of Oando Plc has said on Wednesday, August 10, 2022, the energy firm will hold its 43rd Annual General Meeting (AGM) in Lagos. In a notice to the Nigerian Exchange (NGX) Limited, the company said shareholders and others will converge on the Wings Office Complex located on Victoria Island. At the gathering, which is to give reports on the 2019 financial statements of the organisation, investors will deliberate on how the audited financial results of Oando for the 2020 and 2021 fiscal years should be jointly presented at the 44th AGM to be announced later.

By Adedapo Adesanya Nigerians expended about N22.8 trillion on Food in the year 2019, a survey recently released by the National Bureau of Statistics have revealed. In the report titled Consumption Expenditure Pattern in Nigeria 2019, it was revealed that total spending made by Nigerians for the period amounted to of N40.2 trillion, out of which N22.8 trillion or 57 percent went to satisfying biggest need of man. The last time a similar report was published was in 2009 and as at that time, Nigerians spent N21.6 trillion on consumption expenditure and more than 10 years later, covering a period

By Adedapo Adesanya The Ajaokuta-Kaduna-Kano (AKK) gas pipeline project will be completed and commissioned by the first half of next year, the Chairman of Oilserv Nigeria Limited, Mr Emeka Okwuosa, has said. Mr Okwuosa, during an inspection of the project, explained that the job would be completed as stipulated in an agreement between his company and the federal government. “We want to assure you sure very clearly that this project will be delivered in line with the schedule and with top quality. “The percentage of work that has been done, putting it in perspectives, normally in this project you do

By Modupe Gbadeyanka Second tier lender in Nigeria, FCMB Plc, has recorded a sharp drop in its profit in the first half of this year. In its financial statements released to the Nigerian Stock Exchange (NSE) on Friday, the financial institution recorded a decline in its revenue by a whopping 70 percent, declaring N5.7 billion as total revenue as at June 30, 2017, compared with 18.9 billion declared in the corresponding period of 2016. Also, its gross earnings suffered a loss during the period, crashing to N77.5 billion from N88.3 billion a year ago. Furthermore, the profit before minimum and

By Adedapo Adesanya Socio-Economic Rights and Accountability Project (SERAP) has urged the Independent National Electoral Commission (INEC) to pursue constitutional and legal reforms that would explicitly recognize Nigerians’ right to vote and to vote securely in free, fair, and honest elections as a fundamental right. In the message addressed to Mr Mahmood Yakubu, the electoral body’s chairman, SERAP urged him “to promote constitutional and legal reforms that would contain explicit mandatory provisions on internet voter registration, and the use of modern technology, including in casting and counting, voter registration and systems for reporting results.” Recall that the Supreme Court on Thursday,

By Lukman Otunuga The next few days could be eventful for Africa’s largest economy despite the quiet domestic economic calendar. At home, all eyes will be on the current account balance for the final quarter of 2021. During the third quarter of 2021, the country records a current account surplus of $3.7 billion. It is worth keeping in mind that the current account is part of the balance of payments. This is a key indicator that tracks trade in goods, trade in services, income, and current transfers. A positive current account means the nation earns more than it spends. A

By Ayomide Oriade The outbreak of COVID-19 and preventive measures enforced by authorities across global borders has further extolled the importance of technology-based connection and communication between people, businesses, organizations and processes; a convergence that makes up a digital economy. At the last World Economic Forum, global economic leaders predicted that by the year 2022, over 60% of the world economy will be digital, while it was also projected that about 70% of new value created in the economy in the next decade will be based on digitally-enabled platforms. This signals the fact that those saddled with economic policy formulation