CADBURY, GUINNESS plunge amid profit-taking at Nigeria’s stock market
The Nigerian insurance sector; repositioning for efficiency
Buhari orders MDAs to grant FIRS access to their systems
Buhari reappoints Bala Usman as MD of NPA, reconstitutes the Board
Covid-19: Africa records higher death rate than the global rate
Malabu Oil Scandal: Prosecutors demand JPMorgan documents
Official (NAFEX) Exchange rate hits N415/$1 during Intra-day trading
Oil prices tumble on fears that energy demand is dropping
273,000 Bitcoins taken away from crypto market within a month
Japaul Gold slumps by 30%, after rallying to 52-week high of N1.67 on Monday
Business News
Nigeria losing billions to underutilized fish farming potential – NFAN
The National Fish Association of Nigeria (NFAN) has disclosed that Nigeria is losing billions of naira due to lack of fish farming in the country.
The National Fish Association of Nigeria (NFAN) has disclosed that Nigeria is losing billions of naira due to low level of fish farming production in the country. The disclosure was made in a communiqué issued at the end of a two-day workshop of the South-East Zone of the association in Abuja.
The association has called on the Federal Government to increase its efforts in curbing importation and encouraging local production of the commodity to enable the country maximise its benefit.
(READ MORE: Nigerian engineer bags $500m monorail contract in Iraq)
According to NFAN in the communique signed by the National Publicity Secretary of NFAN, Chidike Ukoh, Nigeria needs to look inwards and tap into the huge potential in fish production.
“Nigeria is blessed with rivers and other bodies of water with various species of fish as well new technology in fish farming techniques.
“This will not only generate income for government but guarantee healthy fish consumption and increased job opportunities,” said NFAN.
Commenting on the workshop called ‘Fish production, processing and certification for export’, NFAN said that it was held to bring relevant stakeholders from within and outside the country to brainstorm and develop strategies to maximise fish production.
Recommendations: In the statement, the Fish Association recommended lending incentives, capacity building, among others as areas to look into in repositioning the subsector.
“The role of NIRSAL is key in facilitating agricultural lending incentives through commercial banks at a single-digit interest rate and with risk reduction guarantees.
“Fish farmers’ cooperatives’ structures also ought to acquire new skills and techniques to access funding, inputs and off-taker and market arrangements under the Anchor Borrower Programme.
“There is equally the need to grow the country’s Gross Domestic Product from the fisheries and aquaculture subsector through empowerment of related businesses for increased and sustainable production,” it added.
(READ ALSO: Nigeria’s movie industry, Nollywood generates about $1 billion yearly – Afreximbank]
What you should know: Fish farming, if given utmost priority, can be valuable to the economy. Apart from producing enough fish to meet the nation’s demand, it can also be exported to other countries to be used as raw material in manufacturing industries for productions of glues, paints, medications and so on.
Fish farming can also be a viable sector for foreign investments because when it attracts the attention of foreign investors, it will, in turn, be of advantage as it will boost the country’s economy.
Appointments
Buhari reappoints Bala Usman as MD of NPA, reconstitutes the Board
President Buhari has approved the reappointment of Hadiza Bala Usman as the MD of the NPA for another term of 5 years.
President Muhammadu Buhari has approved the reappointment of Hadiza Bala Usman as the Managing Director of the Nigerian Ports Authority (NPA) for another term of 5 years.
This follows the expected expiration of the tenure of Usman, who was first appointed as the Managing Director on July 12, 2016.
This disclosure is contained in a series of tweet posts which was issued by the Presidency on its official Twitter handle on Thursday. January 21, 2021.
READ: COVID-19: NPA, NCDC disagree over new cases in Lagos
The Presidency in its statement also announced the approval of the reconstitution of the Non-Executive Board of the NPA, with Emmanuel Olajide Adesoye (representing South-West zone) as Chairman.
The statement from the Presidency partly reads, ‘’President Muhammadu Buhari has approved the re-appointment of Hadiza Bala Usman as Managing Director of Nigerian Ports Authority (NPA), for an additional five-year tenure.
‘’Also approved is the reconstitution of the Non-Executive Board of the NPA, with Emmanuel Adesoye (from South-west zone) as Chairman.’’
Other members of the reconstituted Board include Ekenyem Nwafor-Orizu (representing South-east zone), Akinwunmi Ricketts (representing South-south zone), Ghazali Mijinyawa (representing North-East zone), Mustapha Dutse (representing North-West zone), and Abdulwahab Adesina (representing North-Central zone).
READ: Haulage cost increases by more than 50% in a week as Apapa gridlock bites harder
What you should know
- Hadiza Bala Usman was born on January 2, 1976, in Zaria, Kaduna State and has a B.Sc. Business Administration from Ahmadu Bello University (ABU), Zaria and a Post Graduate in Development Studies from University of Leeds, the UK in 2009.
- She worked at the Bureau of Public Enterprises (BPE) from July 2000 to August 2004 as Enterprise Officer and hired by the UNDP for the Federal Capital Territory Administration (FCTA) from October 2004 to January 2008 as Special Assistant to the Minister on Project Implementation.
- Ms Bala Usman worked, between 2011 and 2015) as Director of Strategy of the Good Governance Group, a non-governmental organisation founded by Kaduna State State Governor, Nasir El-Rufai, and his friends.
- Ms Bala Usman, one of the founders and conveners of #BringBackOurGirls, a campaign group pushing for the rescue of the abducted Chibok schoolgirls, was also a member of the Presidential Advisory Council on Anti-Corruption.
- Prior to her appointment as the Managing Director of Nigerian Ports Authority, she was the Chief of Staff to Governor Nasir El-Rufai of Kaduna, apposition she was appointed to in 2015.
President @MBuhari has approved the re-appointment of Hadiza Bala Usman as Managing Director @nigerianports, for an additional 5-year tenure.
Also approved is reconstitution of the Non-Executive Board of the NPA, with Mr Emmanuel Olajide Adesoye (South-west zone) as Chairman.
— Presidency Nigeria (@NGRPresident) January 21, 2021
Coronavirus
Covid-19: Africa records higher death rate than the global rate
Africa’s coronavirus death rate is now higher than the global average according to Africa CDC.
Africa’s coronavirus death rate has been reported to be higher than the global average as the continent struggle with a shortage of oxygen and other resources during this second wave of the coronavirus pandemic.
The continent’s fatality rate currently stands at 2.5%, which is higher than the global rate of 2.2%, a departure from earlier in the pandemic, when the death rate in Africa was lower than that at the global level.
READ: African Union secures 270 million Covid-19 vaccine doses from drugmakers
According to a report from Reuters, this disclosure was made by the Director of Africa Centres for Disease Control and Prevention (CDC), John Nkengasong, on Thursday, January 21, 2021, during a press conference.
While describing the trend as alarming experts, the continent’s CDC boss pointed out that earlier in the pandemic, Africa’s death rate had been below the global average.
READ: FG alerts that Nigerian hospitals are running out of facilities as Covid-19 spreads fast
He said, “The case fatality rate is beginning to be very worrying and concerning for all of us.’’
Nkengasong also said that 21 African countries are now recording Covid-19 death rate of above 3% as the number of countries in the continent with a higher fatality rate than the global average continues to grow.
Some of the countries include Egypt, the Democratic Republic of Congo, Liberia, Mali, Sudan and a host of others.
READ: Covid-19: WHO warns the world faces catastrophic moral failure due to vaccine nationalism
What you should know
- Africa has so far recorded 3.3 million cases of the coronavirus infections with 82,000 fatalities as at Thursday.
- These figures represent a small fraction of the global total, but cases have been reported to have increased by 14% each week in the last 1 month.
- According to data from Africa CDC, over the past week, cases decreased by nearly 7% compared to the previous week while deaths increased by 10%.
- The continent reported 207,000 new cases in the past week, with South Africa alone reporting 100,000 of those new cases.
Cryptocurrency
Ex-Real Madrid Striker, David Barral becomes first-ever footballer to be bought with Bitcoin
Former Real Madrid Striker, David Barral has become the first-ever footballer to be bought with Bitcoin.
Former Real Madrid striker, David Barral, makes transfer history as he became the first-ever professional player to be bought solely with virtual currency, Bitcoin.
Spanish third division side, DUX Internacional de Madrid, simply known as Inter Madrid, has officially signed the 37-year-old after teaming up with their new sponsors, Criptan that deals in cryptocurrency, The SUN reports.
Inter Madrid who are part of DUX gaming, eSports club owned by footballers Borja Iglesias and Real Madrid star, Thibaut Courtois, is yet to disclose the total value of the deal.
READ: Football: AC Milan announces loss of €195million
The Segunda Division B club went to Twitter to welcome their new signing and thank their sponsor.
“David Barral new player of DUX Internacional de Madrid, welcome to the infinite club! He becomes the first signing in history in cryptocurrencies. Thanks to Criptan, our new sponsor, for making it possible,” the club tweeted.
The 37-year-old, who made over 50 appearances playing in the Real Madrid reserve side, expressed his delight at his latest move. Barral has also played for Spanish La Liga clubs Sporting Gijon, Levante, and Racing Santander.
“Glad to join the project of @interdemadrid with eager ambition and responsibility to continue competing and achieve important challenges in my sports career,” he wrote on his official Twitter handle.
READ: Real Madrid leapfrogs others to emerge the world’s most valuable football club
What you should know
- A similar deal was when a Harunustaspor, Turkish amateur side, paid 0.0524 Bitcoin (£385) plus 2,500 Turkish Lira in cash (£841) for Omer Faruk Kıroğlu in 2018.
- Back in December, Carolina Panthers offensive tackle Russell Okung became the first high-profile athlete in the United States to be paid in bitcoin.
- Similarly, the Mark Cuban-owned Dallas Mavericks became the second NBA franchise to accept Bitcoin as a means of payment for both game tickets and merchandise.
