WTO DG: Okonjo-Iweala remains only candidate as Myung-hee withdraws

Okonjo-Iweala fate of being the DG of WTO is known today

South Korean Trade Minister Yoo Myung-hee withdrew her bid to lead the World Trade Organization, leaving former Nigerian Finance Minister Ngozi Okonjo-Iweala as the only remaining candidate for the job and setting up a key decision by WTO members to approve her appointment. Yoo decided after discussions with the U.S. and other major nations, and took various issues into account including the need to revitalize the multilateral organization, according to a statement from Korea’s trade ministry on Friday. “There was no consensus,” Yoo said. “So we needed enough time for…

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‘High data cost hurts internet access’

FiamWiFi, Akin Marinho, yesterday said the high cost of data

The founder and Chief Executive Officer, FiamWiFi,  Akin Marinho, yesterday said the high cost of data is inimical to the development of the information communication technology (ICT) sector. Speaking on the firm’s partnership with Ikoyi Obalende Local Council Development Area (LCDA) on community WiFi provision, he said millions of Nigerians have been shut out of cyberspace by high data prices in the country. He said: “With millions of Nigerians priced out of the data market by incumbent operators, we are pleased to partner the Ikoyi Obalende LCDA to provide a…

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Nigeria, UN dialogue on inclusive, sustainable food systems

Youths education is paramount to un

In preparation for a United Nations Food Systems Summit to be convened by the UN Secretary-General Antonio Guterres in September 2021, the Federal Government of Nigeria in collaboration with the United Nations systems in Nigeria has announced plans to organize series of dialogues across the country towards ensuring resilient, inclusive and sustainable food systems in Nigeria by 2030. As announced on Monday by the National Convenor of Nigeria Food Systems Summit Dialogue (FSSD), and Permanent Secretary, Budget and National Planning, Mrs Olusola Idowu, the first food systems dialogues will hold…

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Africa vaccine purchase: World Bank pledges US$12B

covid-19 vaccine on the display in a lab for distribution

…the Bank also listed countries that will benefit in the Africa vaccine purchase The World Bank has expressed readiness to commit US$12 billion as concessional loans to assist African countries to access foreign vaccines. During a virtual meeting on the Africa COVID-19 Vaccine Financing and Deployment Strategy, the World Bank informed that the emergency vaccine financing projects in Africa, including Ghana, Democratic Republic of Congo, Ethiopia, Niger, Mozambique, Tunisia, Eswatini and Cabo Verde. The funds are available now, and for most African countries, the financing would be on grant or…

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World Bank to invest over $5bn in African Drylands

world bank to support oil demand decline

World Bank to invest over $5bn in African Drylands The World Bank plans to invest over $5 billion in African drylands over the next five years to help restore degraded landscapes, improve agriculture productivity, and promote livelihoods across 11 African countries on a swathe of land stretching from Senegal to Djibouti. World Bank Group President David Malpass announced the investment at the One Planet Summit, a high-level meeting co-hosted with France and the United Nations that is focused on addressing climate change and biodiversity loss. “This investment, which comes at…

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World Bank/FT Global Blog/Essay Writing Competition 2021

World Bank/Financial Times Global Blog/Essay Writing Competition 2021

World Bank Global Blog/Essay Writing Competition 2021 If your answers to questions in the next paragraph yes, then take part in the World Bank Group and the Financial Times’ third joint global blog/essay writing competition. Are you 16 to 19 years old? Are you currently enrolled in a high school or secondary school? Has COVID-19 affected your learning or the education of a friend or family member? The pandemic has disrupted our lives everywhere, and is changing the way we live, work and learn. This health crisis is creating another…

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NNPC Restates Commitment to OPEC+ Agreement

mele kyari on, opec+ downstream deregulation litres of petrol

NNPC Restates Commitment to OPEC+ Agreement The Nigerian National Petroleum Corporation (NNPC) has reiterated its commitment to abide by the output cut agreement of the Organization of the Petroleum Exporting Countries (OPEC) and its allies, aimed at stabilizing the global oil market. The Group Managing Director of NNPC, Mallam Mele Kyari, stated this Wednesday while speaking at the ongoing virtual Gulf Intelligence “Global” UAE Energy Forum 2021. Mallam Kyari noted that despite the negative effects of the production cut on government revenue, it was the best step towards redeeming the…

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UNDP launches Investor Map to achieve SDGs in Nigeria

UNDP Nigeria launches Investor Map, data tool for investment

UNDP launches Investor Map to achieve SDGs in Nigeria United Nations Development Programme (UNDP) Nigeria Country Office announced on Friday the launch of Sustainable Development Goals (SDG) Investor Map, a digital tool designed to identify investable solutions, making it easier to channel private investment and capital to achieve the SDGs. The platform is part of SDG Impact, a UNDP Initiative that provides investors and businesses with country-level market intelligence and actionable investment opportunities. The SDG Investor Map for Nigeria will provide investors with localised insight into key sectors and Investment…

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Tony Elumelu Foundation, TEF 2021 Application Opens

Tony Elumelu Foundation 2021 APPLICATION

Tony Elumelu Foundation, TEF 2021 Application Opens The Tony Elumelu Foundation (TEF), Africa’s leading philanthropy dedicated to empowering African entrepreneurs, opens applications on its TEFConnect digital platform (www.tefconnect.com) today, January 1, 2021. This year’s intervention prioritises the economic recovery of small and medium scale enterprises (SMEs) and young African entrepreneurs, following the Covid-19 disruption to economic activities. To address the unique challenges arising from the pandemic, lift millions out of poverty and create sustainable employment across the continent, the Foundation’s Entrepreneurship Programme will empower 1,000 young African entrepreneurs, selected from…

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NNPC says no cause for alarm over gas pipeline rupture

Lagos-Ibadan-expressway-gas-pipeline-rupture happens Wednesday morning

The Nigerian National Petroleum Corporation (NNPC) has assured of safety around the scene of a gas pipeline rupture along the Lagos-Ibadan Expressway. A press release by the NNPC spokesperson, Dr Kennie Obateru, stated that the gas pipeline rupture which was caused by a construction company carrying out excavation work in the area resulted in gas leakage which was promptly contained through the efforts of NNPC Team, officials from the Lagos State Government, and other stakeholders.  “The impacted section of the pipeline has been isolated and the pipeline depressurized such that…

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