Public debts by FG, 36 States, FCT hit N33.11trn in Q1 — DMO

Public debts

Public debts by FG, 36 States, FCT hit N33.11trn in Q1 — DMO     Nigeria’s total public debt stock that comprises of the debts of the federal government, 36 state governments and the federal capital territory (FCT) stood at N33.107 trillion or $87.239 billion as at March 31, 2021. According to the Debt Management Office (DMO), the total debt recorded an increase of 0.6 per cent or N192 billion from N32.915 trillion reported by the debt office in 2020 full year. The report by DMO states that debt stock…

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You can no longer eat during domestic flights! NCAA prohibits it

You can no longer eat during domestic flights! NCAA prohibits it

You can no longer eat during domestic flights! NCAA prohibits it     The Nigerian Civil Aviation Authority (NCAA) has directed all domestic airlines to serve only pre-packaged catering products (meals, snacks) in sealed containers to their passengers during disembarkation. In a letter titled “Public Health Guidelines for Companies Providing In-Flight Catering Services to Airlines Operating Domestic Flights,” addressed to airline operators and catering service providers, NCAA stated that, “Domestic airlines shall serve pre-packed catering products (Meals, snacks etc) in sealed containers to their passengers during disembarkation.” According to NCAA,…

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Global economy to grow 5.6% in 2021, World Bank forecasts

Global economy to grow 5.6% in 2021

Global economy to grow 5.6% in 2021, World Bank forecasts   Says Nigeria GDP rise by 1.8%   The global economy is expected to grow at 5.6 per cent in 2021, although many emerging market and developing economies continue to struggle with the COVID-19 pandemic and its aftermath. The World Bank said this in its June Global Economic Prospects released on Tuesday in Washington D.C., adding that the expected growth was based largely on strong rebounds from a few major economies. The 5.6 per cent expected growth, the fastest post-recession…

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Skybridge Capital says bitcoin still has more upside than gold

Skybridge Capital says bitcoin still has more upside than gold

Skybridge Capital says bitcoin still has more upside than gold     Troy Gayeski, co-chief investment officer (CIO) and senior portfolio manager at Skybridge Capital, a $7.5 billion hedge fund, says gold is good but bitcoin is better.  He believes that both gold and bitcoin are likely to rally even as the Federal Reserve moves to taper asset purchases, elaborating: “We’re going to stick to bitcoin and crypto because we just think there’s more upside”. While acknowledging that bitcoin has more volatility than gold, the CIO noted: “you’re going to capture a…

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NCC charges Nigerian youths on responsible internet usage

NCC charges Nigerian youths on responsible internet usage

L-R: Truddy Tony-Awusaku, Head, Media and Public Relations, Nigerian Communications Commission (NCC); Grace Ojougboh, Head, Online Media and Special Publications, NCC; Abdul Suleman, Federal Capital Territory Coordinator, National Youth Service Corps (NYSC); Dr. Ikechukwu Adinde, Director, Public Affairs, NCC; Major. Audu Abdul, Camp Commandant, NYSC Orientation Camp, Kubwa; Mr. Precius Agwu, Camp Director, during the presentation ceremony.   Donates 100 Mattresses to NYSC Orientation Camp   The Nigerian Communications Commission (NCC) has urged Nigerian youths to leverage Internet/broadband access to unleash their potentials for innovation and creativity, as well as their…

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Professor Oluwatoyin Ogundipe: An Enigma At 61

PROFESSOR OLUWATOYIN OGUNDIPE

Professor Oluwatoyin Ogundipe: An Enigma At 61   By Bolarinwa Ajigboye   It feels pretty glad to write this tribute to the Vice-Chancellor of University of Lagos, Prof Oluwatoyin T. Ogundipe, on the occasion of his 61st birthday. I am glad to do so for the many positive ways his life has impacted on me. It has been a rare privilege to work closely with him since January 2017, and throughout this period, I have seen a man with abundant value and impeccable character. I am compelled to believe that…

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President Buhari Unveils first Nigerian Made Android Phone

President Buhari Unveils first Nigerian Made Android Phone

President Buhari Unveils first Nigerian Made Android Phone   President Muhammadu Buhari on Wednesday received the first made in Nigeria cell phone, known as ITF Mobile. The News Agency of Nigeria (NAN) reports that the Minister of Industry, trade and Investment, Adeniyi Adebayo, presented the phone to the president, before the commencement of Wednesday’s Federal Executive Council meeting in Abuja. According to Mr Adebayo, the phone is one of the 12 cell phones produced, using locally sourced components, by the Electrical/Electronics Technology Department of the Industrial Training Fund’s (ITF) Model…

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SEC targets $85bn global social bonds market

SEC targets $85bn global social bonds market

SEC targets $85bn global social bonds market     The Securities and Exchange Commission (SEC) has commenced moves to ensure  that Nigeria and Nigerians benefit from the fast growing global social bonds market currently estimated  at $85 billion. Social bonds are types of debt issues which proceeds are exclusively deployed to finance or refinance projects aimed at addressing or mitigating a specific social issue and/or seek to achieve positive social outcomes for a target population, usually people living below the poverty line. Consequently, the Commission yesterday proposed new rules that…

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N-Power Batch C: FG strikes out 4,492,001 applicants, shortlists 550,000 for final selection

N-Power Batch C

N-Power Batch C: FG strikes out 4,492,001 applicants, shortlists 550,000 for final selection   T he Federal Government through its National Social Investment Management System (NASIMS) has shortlisted 550,000 applicants for the final selection for Batch C of the N-Power programme. NASIMS also said that the Central Bank of Nigeria (CBN) would support Batches A and B beneficiaries who had completed the N-Power programme with soft loans. The Minister of Humanitarian Affairs, Disaster Management and Social Development Sadiya Farouq, said this at a press briefing on Tuesday. The Federal Ministry…

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Mastercard Foundation partners Africa CDC to deploy $1.3bn to save lives and livelihoods

Mastercard Foundation partners Africa CDC

Mastercard Foundation partners Africa CDC to deploy $1.3bn to save lives and livelihoods     The Mastercard Foundation has announced that it will deploy $1.3 billion over the next three years in partnership with the Africa Centres for Disease Control and Prevention (Africa CDC) to save the lives and livelihoods of millions of people in Africa and hasten the economic recovery of the continent. The Saving Lives and Livelihoods initiative will acquire vaccines for at least 50 million people, support the delivery of vaccinations to millions more across the continent, lay the groundwork for…

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