Flexibility
WTO chief: Patent waiver not enough to close vaccine gap
World Trade Organisation (WTO) Director-General, Dr. Ngozi Okonjo-Iweala, has said that intellectual property waiver alone will not be enough to narrow the huge COVID-19 vaccine supply gap between rich and poor countries. She told the European Parliament that it was clear that discussions around vaccine patents alone would not suffice, saying that global leaders should do more to ensure that there is equitable production and distribution of the jabs. Okonjo-Iweala said developing countries had complained that the licensing process was cumbersome and should be improved upon. She added that while it makes sense to protect research and innovation, it is also important to expand access to the vaccines. According to her, manufacturers should work to expand production, pointing to idle capacity ...
Thomas Tuchel appointed new Chelsea manager
Chelsea have confirmed the appointment of Thomas Tuchel as the club’s new manager. The Blues moved swiftly to bring in the German following the decision to sack Frank Lampard on Monday. The 47-year-old will be charged with the task of reviving the fortunes of a side sat in ninth in the Premier League table, with Champions League qualification the likely target for the remainder of the season. Tuchel, who was sacked as coach of Paris Saint-Germain in December, has signed an 18-month contract, with the option of a further year in west London. His predecessor, Lampard, had been handed a three-year contract when the Blues legend was appointed Chelsea boss in the summer of 2019 following a season in charge of Championship side Derby County. When will Tuchel take charge of his first game? Tuchel...
Nigerian government seeks new Eurobond
The federal government yesterday disclosed that it would approach the Eurobond market next year in its effort to shore up the economy, amidst cocktails of measures being put in place to douse the effects of the Covid-19 pandemic on the economy. On the same day, Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, while speaking at the 55th Annual Bankers Dinner organised by the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos, predicted a two per cent growth in the country’s Gross Domestic Product (GDP) in 2021. Finance Minister, Zainab Ahmed, who disclosed the Eurobond plan while speaking on Bloomberg TV, explained that the decision would depend on the prevailing interest rates. She, however, did not specify the amount to be accessed from the Eurobond. The Eurobond option is ...
Nigerian government approves e-SIM trial for MTN
MTN Nigeria Plc (MTN) has announced the trial of e-SIM services on its network based on approvals received from the Federal Government. The trial which kicked-off on Wednesday will run for one year and is open on a first come first served basis to a limited number of subscribers who own compatible devices, a statement from MTN said. Chief Operating Officer, MTN Nigeria, Mazen Mroue, said the company was eager to get through the trial process so that the technology can be deployed for the benefit of every Nigerian. “We are in a fast-paced digital age with new technological advancements driving the constantly changing landscape. Against this backdrop, customers depend on us to provide high quality, reliable and easy-to-use connectivity solutions. “With the introduction of the e-SIM, we will ...
Understanding the strength of small businesses
The number of small businesses keeps growing in the formal and informal sectors of the Nigerian economy, due to the role of small businesses as the live-wire of any economy and the backbone of major developed economies the world over. Though Nigeria rely majorly on oil and revenues derived from it, from context observation the economy is largely supported by small businesses covering almost all spheres of activities within the country, ranging from Nano, kiosk, and Micro businesses most importantly. A visible reference usually includes the vulcanizers, corner shop owners, single retail marketers, repairers, painters, business center operators, restaurants, market women, and men in the various open markets, among others. and the formal operations such as the law firms, accounting firms, con...