Outlook
PDP to commence e-registration for new members
The Peoples Democratic Party has announced its readiness to commence nationwide online registration for members. The Party made this known on Monday in a statement titled ‘Obaseki urges Nigerians to embrace PDP e-registration exercise’, signed by the Publicity Sub-committee Chairman of the PDP National E-Registration Committee, Kola Ologbondiyan. According to the statement, the Edo State Governor, Godwin Obaseki, has urged Nigerians to participate in the exercise. The statement read, “Edo State Governor, Godwin Obaseki, has urged Nigerians to turn out enmasse and register with the Peoples Democratic Party during its nationwide online electronic registration of members which will commence in a fortnight. “Obaseki, who stated this while addressing members of the PDP e-registration committee ...
Nigerians urged to reject PIB for failing to address key issues
Socially relevant and need-meeting organisations in partnership with civil society movements have called on Nigerians to massively reject the long-expected PIB as it has failed to address fundamental issues. Rather the organisations said that the outcome of PIB was mischievous and would compound the problems of the communities, just as it would create another avenue to make the rich even richer while the suffering communities continue to languish in difficulty and poverty. The coalition group said the PIB “failed to properly address the lingering issues of the oil and gas host communities” submitting that the recent position on critical issues is a far cry from the yearnings of oil and gas host communities. “The current version of the Petroleum Industry Bill failed to address community, ec...
2023: Delta governor cautions political office holders against distractions
Delta State Governor, Dr. Ifeanyi Okowa, has cautioned those who hold political appointments in his government against all forms of complacency or dereliction of duty because of their vested interest in the 2023 general election in the country. In a veiled reference to why he dissolved the state executive council and numerous senior political appointees, Okowa stressed that they should rather be preoccupied by the desire to redouble their efforts in contributing to the administration to enable it deliver on his electoral promises and finish strongly. The governor gave the charge yesterday at the Government House in Asaba while swearing in the new Secretary to the State Government (SSG), Chief Patrick Ukah, as well as eight special advisers whose appointments were announced last week. He ca...
OPEC commits to stable global oil market
The Organisation of Petroleum Exporting Countries and non-OPEC ministerial meeting has reaffirmed its commitment to a stable global market in the mutual interest of producing countries. The meeting gave the assurance at the end of its virtual 17th OPEC and non-OPEC ministerial meeting on Tuesday. “In view of current oil market fundamentals and the consensus on its outlook, the meeting reaffirmed the existing commitment of the participating countries in the Declaration of Cooperation (DoC) to a stable market in the mutual interest of producing nations. “Also, the efficient, economic and secure supply to consumers; and a fair return on invested capital. “Reconfirmed the existing commitment of the 10th OPEC and non-OPEC ministerial meeting in April 2020, amended in June, September, and Decemb...
SEMA: Attitudinal behaviour responsible for fire disasters in Kaduna
The Executive Secretary (ES), Kaduna State Emergency Management Agency (SEMA), Abubakar Hassan, has described the attitude of some people as causes of most of the fire disasters in the State. The ES who stated this while fielding questions from journalists at a 2-day training of field officers on hazard profiling and hazard mapping drawn from the 23 local government areas in Kaduna noted that the fire disasters between 2020 and January to May 2021 had cost the State hundreds of millions of naira which would have been spent on other developmental needs of the people. SEMA is currently implementing a project called “System Strengthening on Emergency Coordination and Response in Kaduna State” supported by USAID Nigeria Early Recovery Initiative, aimed at reducing hazards in the State. Accordi...
Microsoft to retire Internet Explorer in 2022
Microsoft is finally retiring Internet Explorer next year, after more than 25 years. The aging web browser has largely been unused by most consumers for years, but Microsoft is putting the final nail in the Internet Explorer coffin on June 15th, 2022, by retiring it in favor of Microsoft Edge. “We are announcing that the future of Internet Explorer on Windows 10 is in Microsoft Edge,” says Sean Lyndersay, a Microsoft Edge program manager. “The Internet Explorer 11 desktop application will be retired and go out of support on June 15, 2022, for certain versions of Windows 10.” While the Long-Term Servicing Channel (LTSC) of Windows 10 will still include Internet Explorer next year, all consumer versions will end support of the browser. Microsoft doesn’t make it clear (and we’re checking), bu...
World Bank: Nigeria responsible for over 40 percent diaspora remittances in Sub Saharan Africa
The World Bank says Nigeria is responsible for over 40 percent of diaspora remittances in Sub Saharan Africa (SSA). In a statement on Wednesday, the Washington-based financial institution said remittances to SSA declined by an estimated 12.5 percent in 2020 to $42 billion. The decline was almost entirely due to a 27.7 percent decline in remittance flows to Nigeria, “Remittances to Sub-Saharan Africa declined by an estimated 12.5 percent in 2020 to $42 billion,” the statement read. “The decline was almost entirely due to a 27.7 percent decline in remittance flows to Nigeria, which alone accounted for over 40 percent of remittance flows to the region. “Excluding Nigeria, remittance flows to Sub-Saharan African increased by 2.3 percent. “Remittance growth was reported in Zambia (37 percent), ...
UN projects Nigeria’s GDP to expand by 1.5 percent
Nigeria’s gross domestic product (GDP) is projected to expand by 1.5 per cent this year, after a contraction of 3.5 per cent in 2020, a United Nations (UN) report said on Wednesday. In the latest World Economic Situation and Prospects report, the UN noted, that tighter foreign exchange (forex) liquidity, mounting inflationary pressures and subdued domestic demand clouded the medium-term outlook. Although last year, the global economy shrank by 4.3 per cent, this year’s projected recovery of 4.7 per cent will barely offset the losses of 2020, according to the report. The World Economic Situation and Prospects 2021 is a report produced by the UN Department of Economic and Social Affairs (DESA), in partnership with the UN Conference on Trade and Development (UNCTAD), and the five UN regional ...
Nigerian government blames states for failure of past development plans
Federal Government has blamed the states for the shortcomings of the past development plans, saying it did not receive the needed co-operation from the sub-national governments. Speaking at the closing of 19th National Council on Development Planning (NCDP) meeting on Friday in Abuja, Minister of Finance, Mrs Zainab Ahmed, said the overall score card of previous plans were adjudged to be below expectations because of inadequate collaboration from the subnational governments. According to her, the previous plans did not make much impacts based on the assertion that the plans were more of federal government than national. “However, the overall scorecard of previous Plans were adjudged to be below expectations and these were among other factors attributed to inadequate collaboration from Sub-...
UN: Around $1 billion needed for Nigeria humanitarian crisis
The United Nations estimated Tuesday that around $1 billion were needed to respond to the humanitarian crisis in northeast, where 5.1 million people are at risk of acute hunger. Despite ongoing military operations to end a decade-long jihadist insurgency, the conflict continues to kill and force people from their homes. “As many as 5.1 million people are threatened by acute hunger during the upcoming lean season – the worst outlook in four years,” the UN’s office for the coordination of humanitarian affairs said in a statement. Nigeria’s humanitarian community, in partnership with the government, launched its Humanitarian Response Plan for 2021, requesting $1.0 billion to provide humanitarian assistance, up from $839 million last year. In 2020, funding was severely affected by the Covid-19...
Nigerian government gets revenue boost as oil prices near $60
File Photo Nigeria revenue profile may get a further boost in the days ahead as oil prices near $60 per barrel in a move propelled by the Organisation of Petroleum Exporting Countries (OPEC). U.S. West Texas Intermediate crude oil futures rose to their highest levels in nearly a year on Friday with Brent traders zeroing in on the psychological $60 a barrel level on economic revival hopes led by strong compliance with the planned output cuts by OPEC+. Also contributing to the gains were a government report that showed another draw in crude stockpiles, optimism over a speedier U.S. economic recovery on the prospect of additional stimulus from Washington and a successful rollout of the U.S. vaccination program. OPEC+ maintained its oil output policy at a meeting last Wednesday, a sign produce...
NESG: Nigerian economy to beat IMF growth forecast in 2021
The Nigerian Economic Summit Group has predicted a growth rate of 2.9 per cent for the Nigerian economy in 2021, higher than the 1.5 per cent growth rate suggested by the International Monetary Fund. The NESG identified eight key policies and events that will help shape the outlook of Nigerian economy in 2021. This is contained in the group’s 2021 Macroeconomic Outlook Report titled, “Four Priorities for the Nigerian Economy in 2021 and Beyond,” launched virtually on Tuesday. According to the report, for Nigeria’s economy to get back on track, the economy needs a high, robust and sustained economic growth that will deliver a significant reduction in unemployment and poverty. The report said the government’s most important agenda in 2021 must be to address these problems as a foundation for...
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