A report from the Debt Management Office, DMO, has revealed that the nation’s total public debt now stands at N31.009 trillion (or $85.897 billion) as at June 31, 2020. The debt, which represents 8.3 percent rise from N28.628 trillion in March 2020, is comprised of federal government debt stock as well as the 36 state governments and the Federal Capital Territory, FCT. “The increase in the Debt Stock by N2.381 trillion or $6.593 billion was accounted for by the $3.36 billion Budget Support Loan from the International Monetary Fund, New Domestic Borrowing to finance the Revised 2020 Appropriation…
Author: Abdallah el-Kurebe
Scientists urge caution in global vaccine race as AstraZeneca reports ‘adverse event’ in a person who received the Oxford vaccine. Enrolment in global trials of a leading coronavirus-vaccine candidate are on hold after a ‘suspected adverse event’ in a person who received the vaccine in the United Kingdom. Scientists say that it’s too soon to say what impact this might have on the global push to develop a vaccine, but that the news highlights the importance of waiting for the results of large, properly designed trials to assess safety before approving a vaccine for widespread use. Researchers at the University…
President Muhammadu Buhari, has directed his ministers to channel their requests through his Chief of Staff, Prof. Ibrahim Gambari. He also directed that all matters related to Federal Executive Council, FEC, should be handled by the Secretary to the Government of the Federation, SGF. Buhari gave the directive at the first-year Ministerial Performance Review Retreat held in Abuja on Tuesday. “Let me also reiterate that all submissions for my attention or meeting requests should be channelled through the Chief of Staff. “While all Federal Executive Council matters should be coordinated through the Secretary to the Government of the Federation.”
As Resident Doctors across the country, plan nationwide strike, the Federal Government, has disclosed that it paid health workers a whooping N20 billion as COVID-19 allowance. The Minister of State for Health, Dr Olorunnimbe Mamora made the disclosure on ChannelsTV, during the Sunrise Daily programme on Wednesday. “We’ve been able to disburse close to N20 billion and I repeat close to 20 billion. So, to now say nothing has been done, that is not true,” the minister said. According to him, government stopped payment of the hazard allowance because of renegotiation with them. “We were able to pay April, May…
Barely ten days to the governorship election in Edo state, the Commissioner for Minerals, Oil and Gas, Mr Joseph Ikpea has announced his resignation as executive council member of Godwin Obaseki administration. He announced the resignation in a letter dated September 9, 2020 and addressed to the governor. The letter, which is with immediate effect read: “Politics is all about interest, trust, and respect for one another, but I have never seen any of this till date, and I am also not sure of it even if I remain there till tomorrow. “Moreover, the party that is known today as…
The International Islamic Trade Finance Corporation, ITFC, a member of the Islamic Development Bank (IsDB) Group, signed a US$100 million Murabaha-structured line of trade finance with Mizuho Bank in Malaysia, a subsidiary of Mizuho Bank Japan. The financing will help ITFC to extend its support to the member countries under its COVID-19 Response Plan that is targeted towards supporting both in public and private sectors. The financing is ITFC’s first partnership with a Japanese bank, signalling an expansion of its partners around the world. The virtual signing ceremony took place between Eng. Hani Salem Sonbol, CEO ITFC and Mr. Shojiro…
The Deputy President of the Senate and Chairman, Senate Committee on Constitution Review, Senator Ovie Omo-Agege has called on Nigerians agitating for state creation to reach out to elected representatives and groups from other geopolitical zones in the country. In a statement by the Special Adviser, Media and Publicity, to the Deputy President of the Senate, Yomi Odunuga and made available to Ashenewsonline on Wednesday, Omo-Agege said that is to get the buy-in of other legislators and groups, especially as they are key in determining if such demands will see the light of the day in the ongoing exercise of the…
I read on one of the social media platforms an open letter to Malam Adamu Adamu, the Honorable Minister of Education by our Ambassador in Mexico, to which I think I should make a contribution that may interest the minister in addressing the issues at stake. In February 1971, almost 50 years ago, I became the Permanent Secretary Federal Ministry of Education. When I entered the office, I found two files on the table. One was the handing over note by the departed Permanent Secretary, the other was a very thick file that contained four sets of documents: the first…
Pan-African energy leasing company, Solarise Africa, has landed a further $10m investment to drive Africa’s clean energy expansion. The Series B investment round welcomed French development finance institution, Proparco, alongside existing investors, EAV and EDFI ElectriFI. “Solarise represents a compelling opportunity for Proparco in the off-grid sector. We are proud to support this innovative project as a first co-investment alongside a strong provider such as EAV. It should remarkably enable African SMEs to start their road towards greener energy through the provision of a decentralised renewable energy production solution,” said Johann Choux, Head of Equity Investments – Financial Institutions & VC,…
The Attorney-General of the Federation and Minister of Justice, Abubakar Malami has said that the successes recorded at the on-going P&ID arbitration case in the United Kingdom, was a product of collective institutional collaboration and not attributable to a single individual personality. This is contained in a statement issued by Dr. Umar Jibrilu Gwandu, Special Assistant on Media and Public Relations, Office of the Attorney-General of the Federation and Minister of Justice, and made available to Ashenewsonline on Wednesday. According to the statement, Malami stated this at “The Morning Show” program of the Arise Television on Wednesday morning while discussing…