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Drawdowns

OPEC and its oil allies reached agreement Sunday to cut global production by 9.7 million barrels a day starting May 1, to shore up the world price in the face of a significant drop in the demand for oil because of the coronavirus pandemic.

OPEC raises oil demand growth on stronger economic recovery

The Organisation of Petroleum Exporting Countries (OPEC) has raised its forecast for crude oil demand growth this year on the back of an expected stronger economic recovery.
Bitcoin hit a record-high above $43,000 on Monday after electric carmaker Tesla invested $1.5 billion in the digital currency.

Bitcoin market cap nears $1 trillion

Bitcoin hit yet another record high on Friday, and moved within sight of a market capitalisation of $1 trillion, blithely shrugging off analyst warnings that it is an “economic side show” and a poor hedge against a fall in stock prices.
President-elect Joe Biden has selected Retired Gen. Lloyd Austin to serve as secretary of defense, according to three people with knowledge of the decision. If confirmed, Austin would be the first Black person to lead the Pentagon.

Joe Biden picks first black defence secretary

President-elect Joe Biden has chosen retired General Lloyd Austin, to be his defence secretary, two people familiar with the decision said on Monday.

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Manchester United have identified Alexander Isak as an alternative target to Borussia Dortmund striker Erling Haaland this summer, The Star reports.

Manchester United identify Alexander Isak as Erling Braut Haaland alternative

Manchester United have identified Alexander Isak as an alternative target to Borussia Dortmund striker Erling Haaland this summer, The Star reports.
The naira this morning reversed its two weeks loss to the dollar in the parallel market, appreciating by N20 to N470 per dollar.

Naira appreciates at N493 to dollar in parallel market

The naira, on Thursday, appreciated by 1.8 percent to N493 to a dollar at the parallel market as the Central Bank of Nigeria (CBN) increased forex supplies to banks.
U.S. President Joe Biden gestures while speaking to the media before boarding Air Force One at Geneva airport, as he leaves Geneva after the U.S.-Russia summit, Switzerland, June 16, 2021. REUTERS-Kevin Lamarque

White House considering talks between Joe Biden and China’s Xi Jinping

The White House will consider arranging talks between President Joe Biden and his Chinese counterpart, Xi Jinping, as the two countries spar over issues including human rights, a top U.S. official said on Thursday.
President Muhammadu Buhari Thursday in Maiduguri, Borno State, assured citizens of the federal government’s presence in fighting terrorism to the end, and ensuring that Internally Displaced Persons (IDPs) are fully returned to continue normal lives, commending Governor Babagana Zulum for resilience and relentless efforts in rebuilding the state.

President Buhar: We won’t rest until peace is fully restored in Borno

President Muhammadu Buhari Thursday in Maiduguri, Borno State, assured citizens of the federal government’s presence in fighting terrorism to the end, and ensuring that Internally Displaced Persons (IDPs) are fully returned to continue normal lives, commending Governor Babagana Zulum for resilience and relentless efforts in rebuilding the state.
Lagos State Attorney General, Moyo Onigbanjo (SAN)

Lagos begins plea bargain session for Kirikiri inmates

In an effort to decongest correctional centres, the Lagos State Ministry of Justice on Thursday held a plea bargain session for some inmates at...

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EKEDC blames broken poles for power outage in Badagry

The Eko Electricity Distribution Company (EKEDC) has attributed the outage in some communities in Badagry to broken poles along the Badagry Expressway in Oko-Afo.
The Minister of Transportation, Mr Rotimi Amaechi, says the Federal Government has extended the Lagos-Ibadan Modernisation Project from its original destination at Ebutte Meta to Lagos Ports.

Minister blames poverty, inequality for Nigeria’s underdevelopment

The Minister of Transportation, Mr. Rotimi Amaechi, has blamed inequality and extreme poverty for Nigeria’s underdevelopment.
Minister of Transportation, Rotimi Amaechi, has disclosed that the US$50 million University of Transportation, Daura, scheduled to take off September next year will be built free of charge by the Chinese government.

Minister: Only President Buhari can decide fate of suspended NPA boss

The Minister of Transportation, Rotimi Amaechi, has explained why the Managing Director of Nigerian Ports Authority (NPA), Hadiza Bala Usman, was suspended.
The Akwa Ibom State Government on Sunday took delivery of two new aircraft – Airbus A220 series – a new addition to the fleet of Ibom Airline.

Akwa Ibom government adds two Airbus to state’s airline fleet

The Akwa Ibom State Government on Sunday took delivery of two new aircraft – Airbus A220 series – a new addition to the fleet of Ibom Airline.
Gov. David Umahi of Ebonyi has pledged to abide by the peace pact he made with political opponents in the Peoples Democratic Party (PDP).

Ebonyi governor: No proof South-east is marginalised

Governor of Ebonyi State and Chairman of South East Governors’ Forum, Mr. Dave Umahi, has said it will be difficult to prove that the South-east is marginalised as being perceived by people of the region.