ALL THE RELEVANT NEWS: WEDNESDAY

ALL THE RELEVANT NEWS: WEDNESDAY

Oil prices fell on Wednesday after U.S. President Trump dashed hopes for a fourth stimulus package to boost the coronavirus-hit economy and on a larger-than-expected increase in U.S. crude inventories; Brent crude futures fell 30 cents, or 0.7%, to $42.35 a barrel by 0648 GMT.

* VP Osinbajo said at the Executive and Legislative retreat that collaborating to serve the people at all times must be put above “procedural niceties.” He noted “We all know, our nation has millions of extremely poor people, and the COVID-19 pandemic has worsened unemployment and poverty,”

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* The need to work on the 2021 Appropriation Bill by the National Assembly has pushed deliberations on the Petroleum Industry Bill to the first quarter of next year.

* The Federal Government has signed a Bilateral Air Service Agreement (BASA) with the USA, India, Morocco and Rwanda; BASA, founded on the principle of reciprocity, is a deal that enables a country’s airlines to enjoy equal leverage, in terms of flight operations, in countries with which their home country has an air agreement.

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* Minister Adamu Adamu has ordered an investigation into the report by the Independent Corrupt Practices and other related offences Commission (ICPC) that the N2.67bn meal subsidy for 104 unity schools, was allegedly found in private accounts.

* Internally Generated Revenue (IGR) of the 36 States of the federation and FCT declined to N612.87 billion in the first half of the year (H1 2020) compared to N693.91 billion recorded in H1.

* Minister Adeniyi Adebayo says the National Action Committee will engage MDAs and major stakeholders on the implementation of the African Continental Free Trade Area.
* The Nigerian stock market sustained its positive outlook on Tuesday for the 12th trading session as the All-Share Index rose by 4.92 per cent to its highest in more than five years.

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* Bank of Industry MD, Kayode Pitan has said 45 per cent of the Micro Small and Medium Enterprise and Artisans Survival Fund would be disbursed to support women-owned businesses in the country.

* CBN threatens to sanction shipping and airline companies that continue to flout its stipulated guidelines on exports.

* Naira gains N2.25k as CBN sells over $450m to BDCs in one month; it traded at an average rate of N457.75k to the dollar on the black market on Tuesday, from N460 traded on Monday.

* The UAE will begin issuance of Visas to Nigerians from tomorrow.

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* COVID-19 Update: Nigeria recorded zero deaths in three days, however 118 new cases were reported on Tuesday; the full picture now is 59, 583 confirmed cases, 51, 308 recoveries and 1, 113 deaths.

* IMF extends debt relief for 28 low-income countries by six months.

* ECOWAS has lifted sanctions on Mali to “support” the handover to civilian rule.

* Troops rescue expatriates in Rivers state — after five months in militants’ captivity.

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* Tackling the Boko Haram insurgency in the Lake Chad region will dominate discussions at the upcoming 47th Session of the Organisation of Islamic Corporation (OIC) in Niger.

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