Category: Economy - Page 19 - African News Today

Air Peace Reconsiders, Recalls Sacked Pilots as FG intervenes

12Aug

By Obiajulu Joel NwoluNo Comments

Aviation, Covid-19, Economy, Employment, News, Nigeria, Press Statement, Transportation

Air Peace Reconsiders, Recalls Sacked Pilots as FG intervenes

The management of Air Peace Airlines has reconsidered its earlier decision to sack about 70 pilots following the intervention of the Federal. The recall of some of the sacked pilots was agreed upon after a meeting convened by Sentaor Hadi SIrika, minister of aviation, between the airline’s management and the leadership of the National Association of Airline Pilots and Engineers (NAAPE). James Odaudu, spokesperson of the ministry in a statement said, “In the verbal agreement reached after a dialogue that was held in a very friendly environment, chairman of Air Peace, Chief Allen Onyema acceded to the minister’s appeal for the recall of the maximum number of pilots that the airline can accommodate without going under. “Onyema expressed his sadness and disappointment over what he cal...

NDDC Issues Senator Two weeks Ultimatum to Refund N2.5bn for Failed Contracts

8Aug

By Obiajulu Joel NwoluNo Comments

Corruption, Crime, Economy, Education, Finance, Judiciary, Legislature, News, Niger Delta, Nigeria, Press Statement

NDDC Issues Senator Two weeks Ultimatum to Refund N2.5bn for Failed Contracts

Case pending before two courts, letter has not reached me – Nwaoboshi The Niger Delta Development Commission (NDDC) has hit back at the Nigerian Senate, asking Chairman, Senate Committee on Niger-Delta, Senator Peter Nwaoboshi, to refund N2.5n for contracts his companies failed to deliver. The commission failed to mention the names of the concerned firms in the letter written to the lawmaker. The commission gave Nwaoboshi a two weeks ultimatum to refund the funds to its account. NDDC in a letter signed by the Director, Legal Services, Peter Okoro, dated July 5 asked Nwaoboshi to return to its coffers fund earmarked for the supply of plastic chairs and desks for primary and secondary schools in the Niger Delta region in 2017. The letter read, “Instead of supplying the cha...

Eased Lockdown: PTF Ratifies Gradual Reopening of International Air Flights in Weeks

7Aug

By Obiajulu Joel NwoluNo Comments

Aviation, Covid-19, Economy, News, Nigeria, Safety, Transportation

Eased Lockdown: PTF Ratifies Gradual Reopening of International Air Flights in Weeks

The Boss Mustapha led Presidential Task Force (PTF), on COVID-19 has signed off on gradual reopening of international air flights and train services across Nigeria in weeks, and not months. The News Agency of Nigeria (NAN), reports that this formed part of the concessions agreed upon at the end of the second extension of the second phase of eased lockdown. This was announced by Boss Mustapha, Chairman of the PTF and Secretary to the Government of the Federation (SGF), while addressing the press at the daily briefing of the PTF on Thursday in Abuja. He said, “It’s important to ensure that restrictions are not completely relaxed in order to control transmission. “It is also important that at this Community Transmission Phase of the pandemic sub-national governments step up to tak...

FG Extends Phase Two Lockdown by Four Weeks, Retains 10pm Curfew

7Aug

By Obiajulu Joel NwoluNo Comments

Aviation, Covid-19, Economy, Education, Finance, News, Nigeria, Transportation, Youths

FG Extends Phase Two Lockdown by Four Weeks, Retains 10pm Curfew

President Muhammadu Buhari has ratified the extension of the phase two lockdown measures in response to COVID-19 by another four weeks. This implies that all guidelines introduced to curb the spread of the virus under the second phase of the relaxed lockdown which took effect on June 1 will remain effective with slight modifications to address the economic, socio-political and health concerns as contained in the latest report by the Presidential Task Force (PTF) on COVID-19. This was disclosed by the Chairman of the PTF who is equally the Secretary to the Government of the Federation, boss Mustapha, at the press briefing of the task force in Abuja on Thursday. Mustapha said state governments and authorities of the Federal Capital Territory (FCT) would be mandated to enforce non-ph...

Botswana Bans Sale of Alcohol, Halts Liquor Licences as Part of Measures to Curb COVID-19 Spread

6Aug

By Obiajulu Joel NwoluNo Comments

Covid-19, Economy, Finance, News, Safety, Science

Botswana Bans Sale of Alcohol, Halts Liquor Licences as Part of Measures to Curb COVID-19 Spread

Botswana has banned the sale and consumption of alcohol in public places and withdrawn liquor licenses in the country as part of effort to curb the spread of the fatal COVID-19. This was disclosed by President Mokgweetsi Masisi through a gazette notice released on Wednesday by the government. “NOTICE IS HEREBY GIVEN that His Excellency the President, acting in accordance with regulation 30G of the Emergency Powers (COVID-19) Regulations, 2020, has with immediate effect suspended all liquor licences issued in terms of the Liquor Act,” the notice read in part. The statement also clarified that “liquor” also included traditional beers, which are brewed by a majority of rural households in Botswana. “The suspension of the sale of alcohol is based on evidence that consumption of alc...

Africa, World Risk ‘Generational Catastrophe’ on Education, UN cautions

4Aug

By Obiajulu Joel NwoluNo Comments

Africa, African Development, Covid-19, Economy, Education, Employment, Finance, Interview, Life, News, Press Statement, Safety, Science, United Nations, Youths

Africa, World Risk ‘Generational Catastrophe’ on Education, UN cautions

The United Nations (UN) cautions that Africa and the rest of the world could witness a “generational catastrophe” due to the closure of schools around the world amid the COVID-19 scare. This was disclosed by U.N. Secretary-General Antonio Guterres in a communique. Reports suggest as at mid-July, at least 160 countries had closed their schools keeping more than 1 billion students at home while at least 40 million children have missed out on pre-school. Guterres said ensuring the safe return of students to classroom must be a “top priority”. “Now we face a generational catastrophe that could waste untold human potential, undermine decades of progress, and exacerbate entrenched inequalities,” said Guterres as he launched a U.N. “Save our Future” campaign. He further stated that, “...

3Aug

By Obiajulu Joel NwoluNo Comments

Economy, Finance, News, Nigeria, Press Statement, South Africa

Shoprite Commences Process to Shut down Operation in Nigeria

South Africa’s grocery retail giant, ShopRite, plans to discontinue its operation in Nigeria. Shoprite first made its way to Nigerian market in Lagos in December 2005. On Monday morning, the firm said in a trading update filed at the Johannesburg Stock Exchange that it plans to stop operations in Nigeria. International supermarkets (excluding Nigeria) contributed 11.6 per cent to group sales and reported 1.4 per cent decline in sales from 2018. 78 percent of overall sales was contributed by South African operations and accounted for 8.7 percent increase for the year. The company said it had received offers from investors seeking to take over its Nigerian operations. It said it was deliberating a total sale of its operations or selling a majority stake to Nigerian subsidia...

APC Extends Olive Branch to Atiku, Saraki, Others after Dogara, Gemade’s Return

3Aug

By Obiajulu Joel NwoluNo Comments

African Development, Economy, Employment, Finance, Interview, Legislature, News, Nigeria, Press Statement, Youths

APC Extends Olive Branch to Atiku, Saraki, Others after Dogara, Gemade’s Return

The All Progressive Congress (APC) has beckoned to aggrieved bigwigs who left the party to return to its fold in the spirit of reconciliation. The ruling party extended an invitation to heavyweights such as former vice president and presidential candidate of the People’s Democratic Party (PDP) in the 2015 election, Atiku Abubakar, Governor Aminu Tambuwal of Sokoto State, former senate president Bukola Saraki and others who left the party ahead of the 2019 election till date. The party made the call after the return of Senator Barnabas Gemade of the Social Democratic Party (SDP) to the party at the weekend. Ealier, immediate past Speaker of the House of Representatives, Yakubu Dogara decamped to the party after moving to PDP to contest 2019 election. APC said the return of the d...

Nigeria: The Debate Over Relinquishing Sovereignty by Victor Oladokun

3Aug

By adminNo Comments

Africa, China, Economy, Finance, News, Nigeria

Nigeria: The Debate Over Relinquishing Sovereignty by Victor Oladokun

The Nigerian Minister of #Transportation, Rotimi Amechi, has been in the news recently. He says he has only just become aware of a clause in a $5 billion rail project to be built by #China, that requires the relinquishing of sovereignty in the event of a loan default. With all due respect, this is a red herring. #Nigeria should not and must not relinquish an iota of its sovereignty. There are other ways of financing infrastructure #development, including direct foreign investment, private sector partnerships, bonds, the utilisation of a portion of the country's sovereign wealth fund, and concessionary loans from institutions such as the #AfricanDevelopmentBank This is not about China. Rather, it is about smart investing and the imperative of not discounting Nigeria's development aga...

Lagos State Government Shuts Down Eti-Osa COVID-19 Isolation Centre as COVID-19 cases reduce

2Aug

By Obiajulu Joel NwoluNo Comments

African Development, Covid-19, Economy, Finance, Interview, Lagos News, News, Nigeria, Press Statement, Science

Lagos State Government Shuts Down Eti-Osa COVID-19 Isolation Centre as COVID-19 cases reduce

The Lagos State Government has closed the Eti-Osa coronavirus patients’ isolation centre. This was announced by Lagos State governor, Babajide Sanwo-Olu during the 17th update on the management of the coronavirus in the state. The governor while reporting progress in curbing the diseas said the Agidingbi Isolation Centre would also be shut down and patients relocated to a large capacity centre – Indo-Centre in Anthony area, which would soon commence operation. He said, “Over the last four, five months, we have built an excess capacity centre, but that is only the way to go, you cannot over-prepare. “We have got to a stage where we need to balance the economics of this and which of these facilities do we need to keep running. “Some of them now are having less than 20 per cent...