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Ngozi Okonjo-Iweala Bags Another Appointment | Special Envoy to G20



Ngozi Okonjo-Iweala
Ngozi Okonjo-Iweala Bags Another Appointment

Nigeria’s former minister of finance (Ngozi Okonjo-Iweala) has been named into the special committee of the African Union (AU) to mobilize international support for Africa over the economic challenge of the COVID-19 crisis.

This appointment came barely a week after she bagged a big appointment from IMF

South African President, chairman of the African Union made this known in a statement reported by one of Nigeria’s top newspapers.

This Special Envoy includes other dignitaries like Donald Kaberuka, Tidjane Thiam and Trevor Manuel.

Their main task is to put efforts together to ensure the G20, the European Union and other financial institutions, fulfill its pledge to Africa.


“The impact of the coronavirus pandemic has been global in both scale and reach, and this necessitates coordinated international action to capacitate all countries to respond effectively, but most particularly developing countries that continue to shoulder a historical burden of poverty, inequality and underdevelopment,” President Ramaphosa said.

“In the light of the devastating socio-economic and political impact of the pandemic on African countries these institutions need to support African economies that are facing serious economic challenges with a comprehensive stimulus package for Africa, including deferred debt and interest payments.”

Okonjo-Iweala, a globally respected economist and development expert, has also served as Managing director of the World Bank.

She has also served in the capacity of finance minister of Nigeria under the Goodluck Ebele Jonathan administration


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Business Africa

President Buhari Warns ECOWAS Against Tenure Elongation




President Buhari Warns ECOWAS Against Tenure Elongation

President Muhammadu Buhari has strongly warned that with the enormous socio-economic and security challenges confronting west Africa, the sub- region cannot afford another political crisis in the guise of tenure elongation.

Buhari said this while addressing the 57th Extraordinary Session of the Authority of ECOWAS Heads of State and Government in Niamey, the Republic of Niger.

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“It is important that as leaders of our individual member states of ECOWAS, we need to adhere to the constitutional provisions of our countries, particularly on term limits. This is one area that generates crisis and political tension in our sub-region.

“As it is, the challenges facing the sub-region are enormous; from socio-economic matters to security issues, the ECOWAS sub-region cannot therefore afford another political crisis, in the guise of tenure elongation,’’ he said.

He also expressed worry over the premature adoption of ECO as a single currency by French speaking West African Countries, stressing the need for them to return to the agreed roadmap.

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Business Africa

Nigerian Stocks Beat Global Slowdown With N154B Gain



Nigerian Stocks Beat Global Slowdown With N154B Gain

Nigerian stocks continued to increase as investors took advantage of low share prices and continued to buy bargain stocks throughout the week, resulting in the stock price closing with an average return (increase) of 1.17% at the weekend, the second highest gain among global advanced and emerging markets. Kenya recorded an average return (increase) of 3.4%

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Trading reports at the Nigerian Stock Exchange (NSE) at the weekend showed the overall consensus across the market was for buying stocks across major sectors as investors continued to react positively to news of how much money is being made by companies in the first half of 2020. The benchmark index for Nigerian equities, the All Share Index (ASI), closed weekend with average increase of 1.17 per cent, equivalent to a net increase across all the shares in the index of N154 billion

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Business Africa




nigeria aviation sector


The corona virus has impacted world economies negatively and has caused terror in major sectors , especially the Nigeria aviation sector.

The sector is one of the major income earners in the world ,even for a developing country like Nigeria.

Over the last couple of years, the Nigerian aviation sector has contributed massively to the country’s gross domestic profit(GDP). Both government and private individuals invest yearly into the sector.

According to the national bureau of statistics, the Nigerian aviation sector contributed nearly 150billion naira to the gdp in 2018 which saw a 33 percent increase by the last quarter of 2019 but it was recently revealed by the Minister of aviation,Hadi Sirika that Nigeria has recorded a massive loss of over 21billion Naira in the aviation sector due to coronavirus in Nigeria.


With domestic airlines already implementing salary cuts and retrenchments of workers, over 125,370 jobs are at risk. For an industry which relies on flight and cargo shipping, the question becomes, how does the Nigerian government save its aviation industry so it doesn’t get beyond recovery, how does it ensure private airline owners don’t run out of business and that hundreds of citizens don’t become unemployed.

With flight operations suspended, it is necessary for the government to look into other options like direct financial support and tax wavers for the airlines as a way of sustaining the aviation sector.

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infectious diseases in your community. It is very important to wash your hand frequently with soap under running water.


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Gallant Officer
"Also found worthy of honour was Bashir Abubakar, an Asst Comptroller-General of Customs, who rejected a bribe of $412,000 per container offered him by drug traffickers seeking to bring 40 containers of Tramadol into Nigeria. A fine example of incorruptibility, worthy of emulation"

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