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Lagos chamber projects positive economic recovery by Q2
The Lagos Chamber of Commerce and Industry (LCCI) has projected a return to positive growth path for the Nigerian economy in the second quarter of 2021. Mrs Toki Mabogunje, President, LCCI, addressing journalists at the first edition of the chamber’s quarterly news conference, said the projection was subject to the absence of major economic shocks. Mabogunje, however, said that the projected recovery was expected to be subdued within the region of one per cent. “Projections by the World Bank and the International Monetary Fund put Nigeria’s annual average growth for year 2021 at 1.1 per cent and 1.5 per cent, respectively. “Expectation of slow growth momentum reflects the lingering effects of the pandemic on the Nigerian economy and prospects of stricter containment measures considering th...
PTF: Nigeria records four cases of UK coronavirus variant strain
Mr Boss Mustapha, Chairman, Presidential Task Force (PTF) on COVID-19 and Secretary to the Government of the Federation, said Nigeria recorded four cases of COVID-19, B117 variant strain, first reported in the UK. The PTF chairman made the disclosure at national briefing on Monday in Abuja. Mustapha said; “over the last few weeks, the PTF had been closely following the rising number of infections reported daily in Nigeria and in other jurisdictions. “Similarly, our scientists have been sequencing the variants of the virus. “There have been reports of cases with the B117 variant strain first reported in the UK, found in Nigeria. Three of these were in travelers out of Nigeria and one in a resident,”. He also stated that the daily statistics for Nigeria as at January 24, 2020 showed that cas...
Uber ‘lays off’ 185 former Postmates workers
Uber has laid off about 185 Postmates workers, and plans to further integrate Postmates’ infrastructure within its Uber Eats segment, The New York Times reported. Uber acquired Postmates in July for $2.65 billion, following a failed attempt to buy rival food delivery service Grubhub. Meal delivery has been one bright spot for Uber amid the pandemic, as bookings in its Uber Eats division rose 135 percent year-over-year in the third quarter while its ride-hailing segment dropped 50 percent over the same time period. It’s consolidated other parts of the company in a bid to become profitable by the end of 2021, selling its autonomous vehicles segment to Aurora Innovation in December, the same month it sold its Uber Elevate flying taxi division to Joby Aviation. The latest cuts will see Postmat...
Rivers governor commiserates Akwa Ibom over death of PDP, PANDEF chairmen
Rivers State Governor, Nyesom Wike has commiserated with the governor of Akwa Ibom State, Mr Udom Emmanuel over the recent loss of prominent indigenes of the state. Wike described the death of the State Chairman of the People’s Democratic Party, PDP, Mr Udo Ekpenyong and the Director-General of Governor Emmanuel’s two terms Divine Mandate organization and Chairman of Pan Niger Delta Forum, PANDEF, Air Commodore Idongesit Nkanga rtd., as a grave loss not just to Akwa Ibom State but the entire South-South region and the party which, he said, is Nigeria’s hope. The Rivers State Governor who was on a condolence visit to Governor Emmanuel at Hilltop Mansion, Government House Uyo, on Thursday said what touches Akwa Ibom touches Rivers state. Hear him, “what I came here is that the Governor Udom ...
U.S. Senate confirms Joe Biden nominee Lloyd Austin as defense secretary
The U.S. Senate on Friday confirmed President Joe Biden’s nominee, retired Army General Lloyd Austin, to serve as Secretary of Defense – the first Black American in the role. The vote was an overwhelming 90-2 in the 100-member chamber, far more than the simple majority needed. Lawmakers from both parties said they were pleased that Austin would be installed to lead the Pentagon just two days after Biden was sworn in as president on Wednesday. Senator Jack Reed, the incoming Democratic chairman of the Senate Armed Services Committee, noted the wide range of challenges facing the country – including the coronavirus pandemic and competition with China and Russia. “General Austin is an exceptionally qualified leader with a long and distinguished career in the U.S. military,” Reed said before t...
Joe Biden nominates veteran diplomats for top State posts
Democratic President-elect Joe Biden on Saturday nominated U.S. foreign policy veteran Wendy Sherman, a key negotiator of the 2015 nuclear deal with Iran, to be the No. 2 official at the State Department. Biden also nominated Victoria Nuland, a retired career foreign service officer who was the top U.S. diplomat for Europe, NATO ambassador and State Department spokeswoman, to be Under Secretary for Political Affairs, effectively the third-ranking U.S. diplomat. Sherman, who has a masters degree in social work, was the State Department counselor from 1997 to 2001, a period when she was also policy coordinator on North Korea. From 1993 to 1996 she served as assistant secretary of state for legislative affairs. Because of her association with the Iran deal, which was fiercely opposed by Repub...
Presidency: Boko Haram weaker now than in 2015
As the country marks the 2021 Armed Forces Remembrance Day, Friday, the Presidency has declared that the activities of Boko Haram insurgents have been weakened compared to what obtained in 2015. This is even as it said that more than 2,403 criminals, including terrorists, bandits, kidnappers and criminals of other sorts, were reportedly eliminated by the Nigerian Armed Forces, in coordinated operations across the country between March 18 and December 30, 2020. The event is billed to hold in the early hours of the day at the National Arcade, opposite Eagles Square, Three Arms Zone, Abuja. The Special Adviser to the President on Media and Publicity, Femi Adesina, in a statement titled “Security checklist, as Nigeria marks Armed Forces Remembrance Day, by Presidency” flaunted the Buhari admin...
Mother, two children burnt to death in Bauchi
A mother and her two children have been burnt to death in a fire disaster that occurred in Riban Garmu village, Dewu Ward in Kirfi Local Government Area of Bauchi State. Four others also sustained varying degrees of injuries. An eyewitness who refused to give his name said that the fire was suspected to be as a result of an electrical fault in the house which burnt it down. He said, “We suspect that there was a spark in the night while people were asleep and that might have caused the fire which burnt the four-bedroom house completely. “Four people sustained injuries and they were admitted at the Kirfi General Hospital where they are receiving treatment,” he said. The eyewitness said the fire started when the deceased and her two children were sleeping in the night, adding that all efforts...
Donald Trump declares state of emergency in D.C.
President Donald Trump on Monday declared a state of emergency in Washington, D.C., citing the “emergency conditions” surrounding President-elect Joe Biden’s inauguration. D.C. Mayor Muriel Bowser had declared a state of emergency in the city on Wednesday in the aftermath of the takeover of the Capitol by rioters incited by Trump. Reports of further planned violent demonstrations have continued to circulate ahead of Inauguration Day, and Trump’s order on Monday allows the Department of Homeland Security and the Federal Emergency Management Agency to assist the city in any emergency response. Details of the violent Capitol attack have become increasingly clear in the days since a mob broke into the building, and Democrats and Republicans alike expressed concern about a similar security brea...
Minister: Tests on NYSC members confirm coronavirus is everywhere in Nigeria
The Federal Government says it has further confirmed from results of tests conducted on prospective National Youth Service Corps members confirmed that no part of the country was free of COVID-19. The Minister of State for Health, Sen. Olorunnimbe Mamora, made the disclosure on Monday in Abuja at a briefing by the Presidential Task Force (PTF) on COVID-19. “We safely and comfortably drew this conclusion because corps members are mobilised from all the states of the country for each of the orientation camps,”the Minister said while warning that increasing cases of COVID-19 are imposing enormous burden on the nation’s health facilities. He said that the 18,699 active COVID-19 cases were stretching health facilities. “With the increased number of confirmed cases, the number of active cases ha...
2021: Banks to walk a tightrope amid low revenue environment
Nigeria’s deposit money banks (DMBs) must brace up for the challenge of 2021 that might tax their resolve to remain in business. Reason: the industry is faced with a tougher operating environment that could threaten the operators’ ability to meet their stakeholders’ needs and expectations yet perform meaningful corporate social responsibility roles. Their valuable customers such as high net-worth individuals, corporate bodies and other institutions are equally challenged. In his book, Business Stripped Bare, celebrated iconic entrepreneur and founder of the Virgin Group, Richard Branson, says, “without trustworthy banks, there can be no business, no employment, no money. According to Branson, “People have got to be able to go to bed at night secure in the knowledge that the money they depo...
AfDB grants $11.26 million for women, girls’ education in Chad
The Board of Directors of the African Development Bank has approved a grant of $11.26 million to the Government of Chad to finance the Girls’ Education and Women’s Literacy Project – the bank’s first grant exclusively targeting women and girls. The project will be financed from the Bank’s Transition Support Facility and will be implemented over a five-year period by the Chadian Ministry of National Education and Civic Promotion, in coordination with partners involved in the education sector, civil society organisations, and youth organisations. The Chadian government will contribute a non-monetary contribution of $713,000 towards the program. “Through this financing, the African Development Bank is providing support to the Chadian government to reduce inequalities through access to educati...
