28 Nov ALL THE RELEVANT NEWS : Saturday
🌍 Highlights of Finance Minister Ahmed’s interview with Bloomberg:
* The economy to exit recession by the fourth quarter as it recovers from the Covid-19 pandemic
* Nigeria has fulfilled the conditions for a World Bank loan and is in the final stages of closing the deal; the bank’s board will discuss the $1.5 billion loan package at their next meeting and possibly approve the request,
* Nigeria considering joining the G-20 debt-relief initiative and is talking to commercial lenders to secure their backing. Nigeria couldn’t participate initially because some of the conditions were unfavorable for existing loan commitments with bilateral lenders and other international borrowings.
* Nigeria may tap the Eurobond market next year, depending on interest rates. The government has to date taken advantage of good demand and liquidity in the domestic market to raise money.
* FG is concerned about the widening gap in the naira’s exchange rate on the official and parallel markets. ”We have been taking measures to close the gap. We hope to get to an even level very soon so the impact of the exchange rate will become moderated”
* Sees the administration of U.S. President-elect Joe Biden supporting Nigeria’s Ngozi Okonjo-Iweala bid to head the World Trade Organization.
🌍 The Academic Staff Union of Universities (ASUU) may have agreed to call off its nine-month strike after talks both the Union and FG described as fruitful on Friday.
🌍 Oil Monitor: Oil prices were mixed on Friday but posted a fourth straight week of gains ahead of an OPEC+ meeting early next week.
Brent crude January futures rose 38 cents to settle at $48.18 a barrel, while the more active February contract gained 46 cents to $48.25.
🌍 COVID-Update:Nigeria reported 246 new cases, 101 recoveries and 2 deaths on Friday. The new pandemic numbers are therefore 67,220 confirmed cases; 62,686 recoveries and 1,171 deaths.
🌍 CBN Governor Emefiele projects a two per cent growth in the country’s Gross Domestic Product (GDP) in 2021; CBN has directed bureau de change operators in the country not to sell dollars higher than N392 to end users.
🌍 At a meeting with Zonal Assistant Inspectors-General of Police, and Command Commissioners of Police in the 36 states and the FCT in Abuja to review the #ENDSARS protests, IGP Mohammed Adamu said violent protests will no longer be tolerated.
🌍 FG has requested for a week break from discussion with organised labour to consult on the new petrol price increase.
🌍 Foreign Affairs Ministry, has protested the attack on Gowon by a Member of the British Parliament; through the Nigerian High Commission in London, asking for an apology and retraction of the unsubstantiated allegation from the British Government.
🌍 Minister Niyi Adebayo has said that the potential selection of former Finance Minister Dr. Ngozi Okonjo-Iweala as WTO DG portends a remarkable achievement for Nigeria.Â
🌍 Some 36 militant groups under a new coalition, Continuous Emancipation of Niger Delta, CEND, have threatened to launch continuous attacks on oil and gas facilities over their demands.
🌍“We are in a serious security crisis,” Gov Akeredolu cried out after a first monarch in Ondo State was killed; yesterday gunmen abducted the wife of his Chief of Staff, Chief Olugbenga Ale. (11) The Federal High Court, Abuja, yesterday, granted Ndume bail.
on grounds of “good behaviour”, admitted Senator Ali Ndume to bail.
🌍The Supreme Court has rejected a request by Shell Nigeria for a review and set aside a N17bn judgment entered against it over oil spill in the Ejama-Ebubu, Rivers State
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