Gulf of Guinea Piracy: Effective Military capacity needs to be deployed – Maersk
FG receives N144 billion in dividends from NLNG in 2020
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$128 million worth of Bitcoin exchange hands, Bitcoin drops to $36,100
COVID-19 Update in Nigeria
Covid-19: Lagos further extends work-from-home-order for civil servants
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Business News
Here are the ten highest paid athletes of the decade; one earned $915 million
A list of ten highest-paid athletes in the last decade has been released by Forbes.
A list of ten highest-paid athletes in the last decade has been released by Forbes. The highest-paid athletes in the past ten years were mostly footballers, boxers and golfers. The list was dominated by male athletes, with the highest-paid sportsman carting away $915 million in the decade.
How the Athletes made earnings
According to Forbes, the earnings of the athletes are a combination of endorsement deals and their wages. Apart from this, revenue stream, pay-tv views and social media; Instagram and Facebook also contributed to the revenue growth.
Christiano Ronaldo
It was disclosed that before the decade, which started in 2009, Tiger Woods was the only athlete on the planet to earn more than $80 million in a year but since 2010, the figure has increased.
Sports that dominate list
The highest-paid athletes list contains two boxers, footballers, basketballers and golfers, with only one representing Formula one. Mayweather topped the list with a massive $915 million, with Cristiano Ronaldo posting $800 million. However, Mayweather is the only Athlete that makes his earnings without depending on a sport team/club.
Although Lionel Messi is the highest-paid athletes in 2019, he took the third spot on the list behind Mayweather and Ronaldo. Forbes’ annual rankings of top-earning athletes look at salaries, prize money, bonuses, endorsements, appearance fees and licensing income.
[READ MORE: This billionaire made $39 billion in 2019, thanks to his luxury brands)
The top ten highest-paid athletes
#10 Lewis Hamilton: $400 million
The six-time F1 World Champion is the most marketable athlete in the sport and commands the biggest paycheck.
Lionel Messi
#9 Kevin Durant: $425 million
Durant’s annual earnings from his salary and endorsements jumped 400% during the course of the decade.
#8 Manny Pacquiao: $435 million
Pacquiao’s 25 pay-per-view fights have generated 20 million buys and an estimated $1.3 billion in revenue.
#7 Phil Mickelson: $480 million
Mickelson nabbed the biggest paycheck of his career in 2018 when he defeated his longtime rival Woods in an exhibition for a $9 million purse.
#6 Tiger Woods: $615 million
Playing Captain Tiger Woods celebrates with the cup after they defeated the International team 16-14 during the 2019 Presidents Cup.
Getty Images
Tiger averaged only 10 PGA Tour events per year during the 2010s, but his endorsement earnings for the decade were tops among athletes.
#5 Roger Federer: $640 million
Federer, 38, is on the back end of his tennis career, but his earnings will stay high on the back of a 10-year, $300 million deal with Uniqlo inked in 2018.
#4 LeBron James: $680 million
James has made more than twice as much from endorsements during his first 16 years in the NBA, compared to his $270 million in playing salary.
#3 Lionel Messi: $750 million
Messi’s 2019 playing salary for Barcelona is the highest of any athlete across all team sports.
[READ ALSO: Nigerian billionaires and what happened to them in 2019)
LeBron James
#2 Cristiano Ronaldo: $800 million
Ronaldo’s endorsement partners benefit from his massive Instagram and Facebook followings, which both rank as the biggest of any person on the planet.
#1 Floyd Mayweather: $915 million
Mayweather pocketed more than $500 million combined for his 2015 and 2017 fights versus Manny Pacquiao and Conor McGregor.
Note, Serena Williams is the only female athletes that made it to the top 40 of the highest-paid athletes in the last decade.
Economy & Politics
FG receives N144 billion in dividends from NLNG in 2020
NLNG, paid the Federal Government a dividend of N188 billion in the fiscal year ended December 2020.
Nigeria Liquified Natural Gas Company, NLNG, paid the Federal Government a dividend of N144 billion in the fiscal year ended December 2020.
This is according to the information contained in the Ministry of Finance Budget implementation report for the period of January 2020 to December 2020 and presented by the Minister for Finance Dr. Zainab Ahmed.
During the year, the Federal Government budgeted a sum of N80.3 billion as its share of dividends from NLNG, however, the actual sum received as its share was N144 billion, N63.2 billion more or 79% higher than projected.
The year 2020 was a difficult year for the government as the fall in crude oil prices and the economic shutdown that was triggered by the Covid-19 Pandemic dented projections and ravaged revenues.
READ: NLNG says Train 7 project will surge production capacity to 30 million MPTA
NLNG Dividend Bliss
The dividend received from NLNG was a major bright spot in the government’s revenue performance for the year.
- During the year, the government projected revenue of N5.36 trillion but only received N3.9 trillion in revenues representing a shortfall of N1.4 trillion or 27% for the year.
- The huge dividend windfall received in 2020 is a stark contrast from 2017 when Nigeria just exited a recession triggered by falling oil prices and a sharp exchange rate devaluation.
- In that year, the Federal Government’s share of dividends from Nigeria Liquefied Natural Gas (NLNG) dropped by as much as $687 million, from $1.04 billion in 2015 to $365 million in 2016, a 65% drop.
- The N144 billion received in 2020 topped the amount received from signature bonuses only N78.2 billion and complimented the N192 billion received by VAT.
- It is the most effective form of revenue generation for the government.
READ: NLNG signs 10 year sales deal with Eni
NLNG Controversies
Back in July Nairametrics reported that the House of Representatives planned to investigate the alleged illegal withdrawal of $1.05 billion from the NLNG account by NNPC without its knowledge and appropriation.
- They had accused the NNPC of illegally tampering with the funds at the NLNG dividends account to the tune of 1.05 billion dollars thereby violating the nation’s appropriation law.
- NLNG is a company jointly owned by Nigerian owned NNPC(49%), Shell (25.6%), Total (15%), and ENI (10.4%).
- The company is located in Bonny Island and has six trains with a total capacity to process 22 million tonnes of LNG a year and as much as 5 million tonnes of natural gas liquids.
- NLNG currently accounts for about 7% of the total LNG supply in the world. Nigeria is ranked as the 4th exporter of Natural Gas in the world.
READ: NLNG signs supply agreement with Galp Trading SA
Upshots: The FG is targeting a revenue of N208 billion from NLNG as dividends in 2021. If this materializes, it will be a significant payout in dividend (in naira terms) competing with the N238.4 billion expected from VAT.
- Important to note that the recent devaluation of the naira will increase the naira value of dividends and other government revenue, as it did in 2020.
- The government also targets N6.6 trillion in revenue for the period under review.
Updated: An earlier version of this article captured the dividend as N188 billion instead of N144 billion. It has now been corrected.
Coronavirus
COVID-19 Update in Nigeria
On the 16th of January 2021, 1,598 new confirmed cases and 7 deaths were recorded in Nigeria
The spread of novel Corona Virus Disease (COVID-19) in Nigeria continues to record significant increases as the latest statistics provided by the Nigeria Centre for Disease Control reveal Nigeria now has 108,943 confirmed cases.
On the 16th of January 2021, 1,598 new confirmed cases and 7 deaths were recorded in Nigeria.
To date, 108,943 cases have been confirmed, 85,367 cases have been discharged and 1,420 deaths have been recorded in 36 states and the Federal Capital Territory. A total of 1.13 million tests have been carried out as of January 16th, 2021 compared to 1.03 million tests a day earlier.
COVID-19 Case Updates- 16th January 2021,
- Total Number of Cases – 108,943
- Total Number Discharged – 85,367
- Total Deaths – 1,420
- Total Tests Carried out – 1,135,535
According to the NCDC, the 1,598 new cases were reported from 24 states- Lagos (461), FCT (206), Plateau (197), Rivers (168), Kaduna (116), Anambra (53), Ogun (49), Ebonyi (47), Edo (42), Sokoto (32), Imo (31), Katsina (31), Oyo (30), Akwa Ibom (27), Delta (16), Kano (16), Abia (15), Niger (15), Ondo (11), Bayelsa (10), Borno (9), Kebbi (8), Ekiti (7), Jigawa (1).
Meanwhile, the latest numbers bring Lagos state total confirmed cases to 39,723, followed by Abuja (14,544), Plateau (6,617), Kaduna (6,121), Oyo (4,679), Rivers (4,382), Edo (3,246), Ogun (2,831), Kano (2,577), Delta (2,102), Ondo (2,070), Katsina (1,723), Enugu (1,583), Kwara (1,566), Gombe (1,489), Nasarawa (1,269), Ebonyi (1,206), Osun (1,186), Abia (1,129), and Bauchi (1,107).
Borno State has recorded 859 cases, Imo (841), Sokoto (677), Benue (653), Akwa Ibom (615), Bayelsa (608), Niger (547), Adamawa (540), Anambra (513), Ekiti (466), Jigawa (425), Taraba (258), Kebbi (248), Yobe (207), Cross River (169), Zamfara (162), while Kogi state has recorded 5 cases only.
READ ALSO: COVID-19: Western diplomats warn of disease explosion, poor handling by government
Lock Down and Curfew
In a move to combat the spread of the pandemic disease, President Muhammadu Buhari directed the cessation of all movements in Lagos and the FCT for an initial period of 14 days, which took effect from 11 pm on Monday, 30th March 2020.
The movement restriction, which was extended by another two weeks period, has been partially put on hold with some businesses commencing operations from May 4. On April 27th, 2020, Nigeria’s President, Muhammadu Buhari declared an overnight curfew from 8 pm to 6 am across the country, as part of new measures to contain the spread of the COVID-19. This comes along with the phased and gradual easing of lockdown measures in FCT, Lagos, and Ogun States, which took effect from Saturday, 2nd May 2020, at 9 am.
On Monday, 29th June 2020 the federal government extended the second phase of the eased lockdown by 4 weeks and approved interstate movement outside curfew hours with effect from July 1, 2020. Also, on Monday 27th July 2020, the federal government extended the second phase of eased lockdown by an additional one week.
On Thursday, 6th August 2020 the federal government through the secretary to the Government of the Federation (SGF) and Chairman of the Presidential Task Force (PTF) on COVID-19 announced the extension of the second phase of eased lockdown by another four (4) weeks.
Governor Babajide Sanwo-Olu of Lagos State announced the closed down of the Eti-Osa Isolation Centre, with effect from Friday, 31st July 2020. He also mentioned that the Agidingbi Isolation Centre would also be closed and the patients relocated to a large capacity centre.
Due to the increased number of covid-19 cases in Nigeria, the Nigerian government ordered the reopening of Isolation and treatment centres in the country on Thursday, 10th December 2020.
READ ALSO: Bill Gates says Trump’s WHO funding suspension is dangerous
Economy & Politics
Uganda Elections: Museveni re-elected for 6th term with 58.6% of the votes
Uganda’s President Museveni has won a 6th term in office as the opposition alleges wide-scale rigging.
