President Muhammadu Buhari has asked the Senate to approve his request to raise a fresh loan of N850 billion to fund some projects in the 2020 budget. He made the request in a letter read by the Senate President, Ahmad Lawan, on Tuesday on the floor of the upper chamber of the National Assembly in […]
AFRICA NEEDS AFRICANS NOW MORE THAN EVER; EYC DISTRIBUTES PALLIATIVES TO THE POOREST OF THE POOR, AGED AND WIDOWS AS IT RECEIVES SUPPORT FROM IIMSAM AND INTERNATIONAL ORGANISATION FOR HUMANITARIAN RELIEF EYC PRESS STATEMENT Protocols, The current global pandemic now endemic in Africa, COVID-19, calls for serious concerns and support for the needy. Especially at […]
US oil prices plummeted to their lowest points in 22 years on Monday as crude storage facilities filled up swiftly in the face of falling demand triggered by the coronavirus pandemic. The May contract of US West Texas Intermediate (WTI) futures dropped 42% to $10.52 a barrel. The May contract expires on Tuesday, making it vulnerable to […]
The Peoples Democratic Party (PDP) has called for the suspension of charges for use of ATM cards and low amount mobile fund transfers during the COVID-19 lockdown. PDP made the call in a statement by its National Publicity Secretary, Mr Kola Ologbondiyan, on Sunday in Abuja. It stated that the suspension of such charges should […]
China’s economy shrank for the first time in decades in the first quarter of the year, as the virus forced factories and businesses to close. The world’s second biggest economy contracted 6.8% according to official data released on Friday. The financial toll the coronavirus is having on the Chinese economy will be a huge concern […]
The International Monetary Fund (IMF) has projected that Nigeria’s economy will recede by 3% in 2020. This would be the worst recession in 30 years after the 2015 recession. This is contained in the April 2020 World Economic Outlook report released on Tuesday in Washington. Gita Gopinath, IMF chief economist and director of the research department, […]
The European Union has given Nigeria a grant of €50 million to fight COVID-19, President Muhammadu Buhari’s spokesman Femi Adesina said on Tuesday. The grant was announced by the Head of EU delegation in Nigeria, Ambassador Ketil Karlsen, at a meeting with President Buhari in Abuja. The Special Adviser to the President on Media and […]
The International Monetary Fund has granted debt relief to 25 countries, mostly African nations excluding Nigeria. A statement by the Managing Director of the IMF, Kristalina Georgieva, said it would provide $500m in grant-based debt service relief to these countries. “Today, I am pleased to say that our executive board approved immediate debt service relief […]
All hail the big bank: African Development Bank plots $10 billion fund to governments and the private sector on Covid-19. Of this, $1.35 billion will be devoted to private sector operations. AfDB Press Release The African Development Bank Group on Wednesday announced the creation of the COVID-19 Response Facility to assist regional member countries in […]
Dr. Gabriel Ogbechie is the GMD of Rainoil Limited, a downstream giant. In this interview with Modele Saharafa Yusuf on television, the oil marketer gave insight on PMS price regime, impact of Covid-19 on oil sector and sundry issues. Excerpts: When the NNPC announced the N145 pump price of petroleum in 2016, the plan we […]