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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.
South Korean trade Minister, Yoo Myung-hee, on Friday (Feb 5) dropped her bid to become head of the World Trade Organisation (WTO), clearing the way for Nigeria’s Ngozi Okonjo-Iweala to become the global body’s director-general.

WTO: Coronavirus vaccines best stimulus for world economy

The Director General of the World Trade Organisation (WTO), Dr, Ngozi Okonjo-Iweala, has reiterated that a rapid global and equitable vaccine roll-out would be the best stimulus for a strong and sustained economic recovery for the global economy.
Sen. George Akume, Minister of Special Duties and Intergovernmental Affairs made the call at the formal inaugural ceremony of eight members of the Governing Board of the NNMA on Friday in Abuja.

Minister: Nigerian government to establish micro enterprises in 774 local council areas

Dr George Akume, the Minister of Special Duties and Inter Governmental Affairs, on Wednesday said that micro enterprises will be established in the 774 Local Government Areas (LGAs) of the country.
The Central Bank of Nigeria (CBN) as said that its staff in Jos Branch, on Tuesday averted what would have been another major fire disaster in the country.

CBN justifies plan to sell assets to fund 2021 budget

The Central Bank of Nigeria (CBN) has thrown its weight behind the federal government’s decision to sell its least valued assets and use funds from the sale to execute infrastructural projects in the 2021 budget.
Laolu Akande, Senior Special Assistant to the President on Media and Publicity, Office of the Vice President, disclosed this in a statement in Abuja.

Presidency: Exit from recession key indicator of sustainability plan’s performance

Nigeria’s prompt exit from recession is a key indicator of the success of the ongoing Economic Sustainability Plan (ESP) approved by the Federal Government, the Presidency has said in a statement on Sunday in Abuja.
FILE PHOTO - The logos of Amazon, Apple, Facebook and Google in a combination photo.-File Photo

BofA: Big tech-led equity inflows fuelling ‘mother-of-all asset bubbles’

A record rush to big technology stocks saw equity funds bagging $27.8 billion inflows last week with the ongoing ultra-easy monetary policy creating the “mother-of-all asset bubbles”, BofA said on Friday.
FILE PHOTO - Oil pours out of a spout from Edwin Drake's original 1859 well that launched the modern petroleum industry at the Drake Well Museum and Park in Titusville, Pennsylvania U.S., October 5, 2017. REUTERS-Brendan McDermid

Crude oil price hits 13-month high

Oil prices yesterday maintained their upswing, hitting their highest in about 13 months on the back of vaccine rollouts expected to increase demand even as producers kept supply reined in.

Nigerian government gets revenue boost as oil prices near $60

Nigeria revenue profile may get a further boost in the days ahead as oil prices near $60 per barrel in a move propelled by the Organisation of Petroleum Exporting Countries (OPEC).
The Central Bank of Nigeria (CBN) as said that its staff in Jos Branch, on Tuesday averted what would have been another major fire disaster in the country.

Why Nigeria’s central bank banned cryptocurrency trading

Investigations have revealed that, the federal government and the CBN were warned by the United States’ Federal Bureau of Investigation, (FBI), on the activities of fraudsters using cryptocurrencies to bringing into the country hundreds of millions of US Dollars illegally obtained from the USA and other Western economies.
The Minister of State for Trade and Investment, Mrs Mariam Katagum, confirmed that Kano had the highest number of applicants who had registered for the funds.

Nigerian government lists conditions for new MSMEs support

The federal government announced that the registration for the Guaranteed Off-take Stimulus scheme (GOS) and the general micro, small and medium enterprise (MSME) grant will commence on February 9.
Chad's former prime minister Moussa Faki Mahamat on Saturday won a second term as head of the African Union's executive body at the opening of a two-day virtual summit expected to focus on the continent's pandemic response.

AU chief secures second four-year term at summit focused on coronavirus

Chad's former prime minister Moussa Faki Mahamat on Saturday won a second term as head of the African Union's executive body at the opening of a two-day virtual summit expected to focus on the continent's pandemic response.
Akwa Ibom State Governor, Udom Emmanuel, says the idea of random testing for COVID-19 in the state is a waste of government resources.

Akwa Ibom governor vows to complete all projects

In his avowed determination to ensure the rapid infrastructural development of the state in line with his completion Agenda aimed at boosting his administration’s industrialization policy, Akwa Ibom State Governor, Mr Udom Emmanuel has vowed to complete all major infrastructural projects in the state before leaving office, even as he promised to complete for public use, the Ikot Oku Ikono flyover by May 2021, a move he believes, will grant more stress-free access to the state capital, from neighbouring local government areas.
The Central Bank of Nigeria (CBN) has revealed that the aggregate domestic credit in commercial banks grew by 7.61 percent in October 2020, compared with 7.35 percent in the previous month.

Nigeria’s foreign reserves gains $1.3 billion on crude sales

The Central Bank of Nigeria says Nigeria’s Foreign Exchange Reserves rose from $34.94 billion in November 2020 to $36.23 billion as at January 21.
The Central Bank of Nigeria (CBN) as said that its staff in Jos Branch, on Tuesday averted what would have been another major fire disaster in the country.

CBN: Another coronavirus lockdown’ll wound economy

The Central Bank of Nigeria, CBN, yesterday warned the Federal Government (FG) against imposing another total lockdown of the country, saying such a move would be catastrophic to Nigerians and the economy.
FILE PHOTO - A view shows railroad freight cars, including oil tanks, in Omsk, Russia May 1, 2020. REUTERS-Alexey Malgavko

Oil prices slide as virus cases rise, demand worries persist

Oil prices eased on Tuesday as coronavirus cases globally continued to rise, but losses were capped amid reports of a blast in Saudi Arabia.
Donald Trump has reportedly reverted to “self pity-mode” following his impeachment amid frustration that his Republican allies are failing to defend him.

Donald Trump’s coming impeachment trial aggravates rift among Republicans

The coming second impeachment trial of former U.S. President Donald Trump on a charge of inciting the deadly storming of the Capitol has aggravated a rift among his fellow Republicans that was on full display on Sunday.
President Joe Biden looks signs his first executive orders in the Oval Office of the White House [Evan Vucci/AP Photo]

On first day Joe Biden issues orders undoing key Donald Trump policies

Among the 17 executive orders and presidential actions Biden signed on Wednesday were moves to rejoin the Paris climate accord, end a travel ban from several Muslim-majority countries, and halt Trump’s withdrawal from the World Health Organisation.
FILE PHOTO - Pump jacks operate at sunset in an oil field in Midland, Texas U.S. August 22, 2018. REUTERS-Nick Oxford-File Photo

Oil gains on stimulus optimism ahead of Joe Biden inauguration

Oil prices climbed with U.S. stock markets on Tuesday ahead of Joe Biden’s inauguration as U.S. president on optimism that more government stimulus will eventually lift global economic growth.
An economist, Ms Razia Khan, also Managing Director-Chief Economist, Africa and Middle East, Global Research, Standard Chartered Bank, on Tuesday said Nigeria would see a restoration of positive growth.

2021 Outlook: Nigeria will record positive GDP growth – economist

An economist, Ms Razia Khan, also Managing Director/Chief Economist, Africa and Middle East, Global Research, Standard Chartered Bank, on Tuesday said Nigeria would see a restoration of positive growth.
FILE PHOTO - A view shows the Khor Al Zubair Port near Basra, Iraq, January 12, 2021. REUTERS-Mohammed Aty

IEA: Resurgence in coronavirus cases slows oil demand rebound

Oil demand recovery will take a hit from a spike in new coronavirus cases before vaccine roll-outs and stimulus measures help in the second half of the year, International Energy Agency (IEA) said on Tuesday.
FILE PHOTO - A picture illustration shows U.S. 100 dollar bank notes taken in Tokyo August 2, 2011. REUTERS-Yuriko Nakao-File Photo

Dollar drops as traders prepare for Janet Yellen to talk up stimulus

The dollar dropped on Tuesday as investors prepared for U.S. Treasury Secretary nominee Janet Yellen to talk up the need for major fiscal stimulus and commit to a market-determined exchange rate when she testifies later in the day.
FILE PHOTO - Oil pours out of a spout from Edwin Drake's original 1859 well that launched the modern petroleum industry at the Drake Well Museum and Park in Titusville, Pennsylvania U.S., October 5, 2017. REUTERS-Brendan McDermid

Oil prices rise as optimism over economy outweighs fuel demand concerns

Oil prices climbed on Tuesday as optimism that government stimulus will buoy global economic growth and oil demand trumped concerns that renewed COVID-19 pandemic lockdowns globally could cool fuel consumption.

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The allegation of marginalisation against Governor Udom Emmanuel by the Oro Think Tank is unfair and has no basis in objectivity, the Akwa Ibom State branch of the Civil Liberties Organisation, CLO, has declared.

Akwa Ibom wins CIRDDOC 2020 best budget transparency award

In a move that gives credence and endorsement of the commitment of the Udom Emmanuel led administration in ensuring openness, transparency and accountability in budgeting and governance, the Akwa Ibom State Government has been ranked one of the best performing states in the 2020 sub-National Budget Transparency Survey.
The Special Adviser to Governor Sanwo-Olu on Education, Barrister Tokunbo Wahab, inaugurated the board.

Lagos inaugurates six-man governing board for alternative high school for girls

Lagos State Government has inaugurated a six-member Governing Board for Alternative High School for Girls In Aboju area of the state.
FILE PHOTO - A view of the Natanz uranium enrichment facility 250 km (155 miles) south of the Iranian capital Tehran, March 30, 2005. REUTERS-Raheb Homavandi

Iran says 60% enrichment meant to show nuclear prowess, is reversible

Iran began enriching uranium to 60% purity in order to show its technical capacity after a sabotage attack at a nuclear plant, and the move is quickly reversible if the United States lifts sanctions, the Iranian government said on Tuesday.

NAPTIP calls for effective counter-trafficking policies, ideas to tackle human trafficking

The Director General of the National Agency for the Prohibition of Trafficking in Persons (NAPTIP), Imaan Sulaiman Ibrahim, has called for effective counter - Trafficking policies and ideas to tackle the manace of human trafficking.

2023: Kingsley Moghalu urges young people to join politics

A former Deputy Governor of the Central Bank of Nigeria (CBN), Prof. Kingsley Moghalu, has asked young people in Nigeria to actively participate in politics and help reshape the future of the country.

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Some more information has emerged regarding the plans for a European Super League including funding and the stance of the parties involved.

UEFA exco member: Super League clubs will be thrown out of Champions League

Manchester City, Chelsea and Real Madrid could be kicked out of this season's Champions League this week, according to the Danish FA chairman Jesper Moller.
Goalkeeper Joaquin Pucheta was shown a red card in Ecuador’s Serie A for urinating behind his goal as his team Macara beat last-place Orense, 1-0, according to local media.

Goalkeeper sent off for urinating

Goalkeeper Joaquin Pucheta was shown a red card in Ecuador’s Serie A for urinating behind his goal as his team Macara beat last-place Orense, 1-0, according to local media.
Yemi Osinbajo

VP Osinbajo, Donald Duke meet at Aso Villa

Vice President Yemi Osinbajo met with the former two-time Governor of Cross River State, Mr. Donald Duke, at the Presidential Villa, Abuja Tuesday.
BUA Cement Plc says it will sustain competitiveness with the N115 billion Series Fixed Rate Senior Unsecured Bond issue under the company’s maiden N200 billion bond issuance programme.

BUA donates medical facilities to host communities in Sokoto

As part of its corporate social responsibilities (CSR), one of the Africa’s leading cement giant, BUA Cement, recently donated drugs worth N10 million to the host communities in Wamakko Local Government Area of Sokoto State.
Arsenal goalkeeper Bernd Leno says the idea that the Gunners might not play European football next season doesn't feel right, and that the job of the players is to make sure the club is where it belongs.

Bernd Leno: Arsenal without European competition ‘doesn’t feel right’

Arsenal goalkeeper Bernd Leno says the idea that the Gunners might not play European football next season "doesn't feel right", and that the job of the players is to make sure the club is where it "belongs".