Connect with us

Business Africa

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

Published

on

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.

REPORT ON THE STATEMENT

“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

READ MORE

Business Africa

Nigeria to Become Petroleum Product Refining Hub, Minister Says

Published

on

By

The Federal Government has said it will leverage the opportunities provided by the African Continental Free Trade Area Agreement to reposition the oil and gas sector in other transform the country into a petroleum products refining hub for the African region

 

The Minister of State for Petroleum Resources, Timipre Sylva, disclosed this at the AfCFTA Oil and Gas Virtual Workshop, with the theme: “Nigeria – Africa’s Refining and Services Hub under the AfCFTA.

 

Represented by Bitrus Nabasu, the permanent secretary Ministry of Industry, Trade and Investment, Sylva said Nigeria had approved the AfCFTA, which would begin implementation in January 2021.

 

According to him, the African Continental Free Trade Area Agreement aims to redefine trade relations between African states while enabling free movement of people and investments

 

Sylva also added that the government was also committed to deepening gas utilization as seen in its National Gas Expansion Programme and the Auto Gas Scheme.

 

Continue Reading

Business Africa

Nigeria to Strengthen Economic Cooperation With Algeria Says President Buhari

Published

on

nigeria- algeria

President Muhammadu Buhari has reassured of Nigeria’s commitment to stronger economic cooperation with the republic of Algeria in various critical areas.

Click to Watch Our YouTube Videos

The President restated the commitment on Thursday when he received the Algerian foreign affairs minister, and special envoy of the Algerian president, Sabri Boukadoum, in the Aso rock presidential villa in Abuja.

According to a statement issued by special adviser to the President on Media and Publicity, Femi Adesina, the president said projects like the Trans-Sahara road, international gas pipelines, and other areas of economic cooperation would be given adequate attention for the good of the people of the two countries.

Buhari also emphasized the need for peace, tranquility and security in African countries, saying development and growth would depend a lot on how peaceful and secure the continent is.

In his remark, the special envoy said Nigeria was the pillar of Africa, and he had brought messages from his president, for the two countries to explore areas of collaboration.

Incase You Missed:

nigeria-is-among-the-top-leading-adopters-of-cryptocurrency-per-capita

the-president-of-the-african-development-bank-warned-against-misinformation

Continue Reading

Agriculture & Nigerian Economy

We Have to Reduce Oil Production Cost, Says Osinbajo

Published

on

Osinbajo-NCBN

Vice-president, prof. Yemi Osinbajo, has said the deal to cut oil production by the organization of petroleum exporting countries and its allies has resulted in lower revenue generation for the federal government.

Click to Watch Our YouTube Videos

The vice-president, who was represented by the minister of state for petroleum resources, Timipre Sylva, said the collapse in crude oil demand due to the covid-19 pandemic caused the recent sudden slump in oil prices.

Osinbajo said on Tuesday that the ministry of petroleum resources had a mandate to drastically reduce the unit cost of crude oil production in the country in order to increase government revenue.

He expressed confidence that the country would achieve the desired goal of finding more hydrocarbon deposits in the Nigerian basins, notwithstanding the curtailment in production.

Incase You Missed

Maize Farmers To FG | End Insecurity To Improve Farming And Food Production

Nigeria’s external reserve drop by $261 million in 15 days, oil firms to sell forex to CBN

NLC Condemns Hoarding of COVID-19 Palliatives by State Governments

#EndSARS: “Your Feelings of Frustration are Justified”-Osinbajo

FEC Proposes N13.8Tn Budget for 2021 Fiscal Year

Rice Production Has Increased by 1.2 Million Metric Tonnes –FG

Continue Reading
COVID-19 PREVENTION

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

COVID-19 IS REAL

#COVID19NIGERIA Situation Report

The #COVID19Nigeria situation report for 21st July, 2020 has been published. Our daily reports provide a summary of the epidemiological situation & response activities in Nigeria

The #COVID19Nigeria situation report for 21st July, 2020 has been published. Our daily reports provide a summary of the epidemiological situation & response activities in Nigeria

@Africa CDC

The African Union and Africa CDC will virtually rollout the Partnership to Accelerate COVID-19 Testing (PACT) in Africa tomorrow 4 June, 2020 at 11.00 am Eastern Africa Time.

The African Union and Africa CDC will virtually rollout the Partnership to Accelerate COVID-19 Testing (PACT) in Africa tomorrow 4 June, 2020 at 11.00 am Eastern Africa Time.

GALLANT OFFICER

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"

Trending