The President of the African Development Bank (AfDB), Akinwumi Adesina, has disclosed that Nigeria currently has the largest population of people living without electricity worldwide. He made this statement during the 90th birthday celebration of former Head of State, General Yakubu Gowon. According to Adesina, approximately 86 million Nigerians lack access to the essential commodity, positioning Nigeria at the top of the global list in this regard. He emphasized that the absence of a reliable power supply is severely impacting businesses and industries across the country. “The International Monetary Fund (IMF) estimates that Nigeria loses about $29 billion annually, or…
Author: Abdoulaye Kay
Summary: Suspected Boko Haram members have released a graphic video depicting the beheading of four abducted individuals in Gwoza, Borno State, Nigeria. The footage shows the terrorists parading five women and two men before executing them, claiming the victims supported military actions against them. Among those killed were alleged Red Cross workers, though this remains unverified. By Abdulkareem Haruna A particularly disturbing element was the execution of a young woman by a relative, highlighting the brutal nature of the violence. Despite the horror, three elderly women were spared, with the terrorists not targeting those with grey hair. The group announced…
Nigerians have been plunged into darkness yet again following the collapse of the national power grid, marking the third such incident within a week and further compounding the nation’s ongoing power supply crisis. The latest grid failure occurred in the early hours of Saturday, leaving millions across multiple states without electricity. This recurring issue has led to widespread frustration as homes, businesses, and essential infrastructure are left crippled by the unreliable power supply. For many Nigerians, the repeated power outages have become emblematic of the deeper systemic failures that have long plagued the country’s energy sector. According to data from…
The Milken Institute and the Motsepe Foundation announced the 10 teams advancing to the Semifinalist Round of the Milken-Motsepe Prize in FinTech, with each team receiving $100,000 in funding. Responding to a global call for applications, this prize supports innovative solutions to expand access to tools necessary for financial inclusion across emerging and frontier markets. The Semifinalists will participate in an Innovation Showcase at the Milken Institute’s Middle East and Africa Summit on December 5-6, 2024, in Abu Dhabi, UAE. During this event, the 10 teams will pitch their innovations to a panel of expert judges and investors, and three…
Seattle-based non-profit Grow Further is channelling $300,000 from individual donors and corporate partners to fund cutting-edge research and development projects in Zimbabwe and Ethiopia. These initiatives aim to equip hundreds of thousands of smallholder farmers with climate-resilient crops to combat worsening droughts, hunger, and malnutrition, benefiting over 4 million farmers. Grow Further, known for empowering smallholder farmers in developing countries, will distribute the funds to agricultural scientists over five years. These scientists will focus on innovative solutions that help farmers adapt to climate change, improve crop yields, and boost nutrition. The International Crops Research Institute will implement the projects for the…
The National Security Adviser (NSA), Nuhu Ribadu, is full of criticism for policemen and soldiers stealing and selling arms and ammunition from their formation to criminal elements. Ribadu stated this in Abuja on Thursday during the destruction of arms by the National Centre for the Control of Small Arms And Light Weapons. According to the National Security Adviser, security agents involved in the act are “worse human beings”, adding that efforts must be put in place to check those people. He added, “We have to find a way of putting a stop to this if we want to recover our country…
Three African countries—Algeria, Cabo Verde, and Mauritius—have successfully eliminated malaria, but dozens more still face this deadly disease. Globally, only 44 countries have eradicated malaria. The question of whether the rest of Africa catch up was explored in the latest Global Health Matters podcast, hosted by Dr. Garry Aslanyan. To delve into this issue, Aslanyan spoke with two pioneers in the field: Francine Ntoumi, founder and executive director of the Congolese Foundation for Medical Research in the Republic of the Congo, and Corine Karema, director of Malaria, NTDs, and Global Health at Quality and Equity Health Care in Rwanda. “I believe that with the few African countries…
The Federal Accounts Allocation Committee (FAAC), has shared N1.298 trillion among the Federal Government, states, and the Local Government Councils (LGCs) for September. This is according to a communique issued at the end of the FAAC meeting for October held on Thursday in Abuja. The communiqué was made available to newsmen by Bawa Mokwa, the Director, Press and Public Relations, Office of the Auditor-General of the Federation (OAGF). According to the communiqué, N1.298 trillion total distributable revenue comprised distributable statutory revenue of N124.716 billion, and distributable Value Added Tax (VAT) revenue of N543.518 billion. It also comprised Electronic Money Transfer Levy…
President of Dangote Group, Aliko Dangote remains the richest man in Africa, and now the 65th richest man in the World, despite the volatility of the Nigerian currency against the dollar, thanks to the Refinery boost. Bloomberg, in its latest Top 500 Billionaires Index released on Thursday, revealed that Dangote with a wealth of $28 billion had his wealth increased significantly after the commencement of operations of his newly built Petrochemical refinery, said to be worth over $20 billion. This new ranking is the highest the renowned entrepreneur has risen. He was previously ranked 83rd in 2022. The Dangote Refinery located…
The African Development Bank Group (www.AfDB.org) and Mastercard are co-chairing a new initiative called Mobilizing Access to the Digital Economy (MADE) Alliance Africa, which aims to provide digital access to critical services for 100 million people and businesses in Africa over the next 10 years. In the first phase of its $300 million commitment to the Alliance’s initial five years of programming, the African Development Bank aims to bring three million of farmers in Kenya, Tanzania and Nigeria into the digital economy via Mastercard Community Pass. Community Pass gives farmers a digital credential to access a network of digital agricultural…