All The Relevant News: Wednesday

14 Oct All The Relevant News: Wednesday

Oil prices fell on Wednesday under pressure from growing concerns that a recovery in fuel demand will be stalled by soaring coronavirus cases around the world; Brent crude futures LCOc1 for December fell by 6 cents to $42.39 a barrel by 0953 GMT

The presidential panel on the reform of the special anti-robbery squad (SARS) has accepted the five-point demand of the #EndSARS protesters.

Inspector General of Police, Adamu has announced the setting up a new Special Weapons and Tactics (SWAT) Team to replace the defunct SARS.

Buhari on Tuesday transmitted the “Proceeds of Crime Bill” to the Senate for consideration; appointed his Special Assistant on Social Media, Lauretta Onochie, and three others as national commissioners of the Independent National Electoral Commission (INEC); opposition groups kick.

VP Osinbajo has said that proper public audit process was needed for government to strategically fight waste and misappropriation of public resources. He spoke at the Virtual Workshop of the Office of the Auditor General.

At Public Presentation of 2021 Budget: Finance Minister Ahmed said the budgets of the 60 government-owned enterprises would be integrated into FG’s 2021 Budget proposal;
* FG will borrow from domestic and foreign sources, including multilateral and bilateral finance organisations, to finance the 2021 federal budget deficit.
* As of the end of August, available revenue for budget funding (excluding government owned enterprises) stood at about N2.52 trillion, or 71 per cent of the target.
* During the same period, N761.79 billion was released for capital expenditure, rising to N1.2 trillion by the end of September 2020.
* After reviewing the loan agreements Nigeria entered into with other commercial lenders, it was discovered that the country has limitations to take the World Bank’s debt relief offer.

IMF, on Tuesday, reversed Nigeria’s economy growth projection to -4.3 percent in 2020 from its earlier projection of -5.4 percent; also projected that Nigeria’s economy would grow by 1.7 per cent in 2021 from its projected decline of -4.3 percent

Senate confirms 8 nominees for Supreme Court Justices; kicks off debate on the 2021 budget

Minister of Agriculture Nanono, yesterday said the federal government planned to ban the importation of milk within the next two years.

Poet and playwright, John Pepper Clark, better known as JP Clark has died at 85.

COVID-19 Update: NCDC recorded 225 new cases on Tuesday, the highest daily tally in the past five weeks.
Nigeria’s numbers are now 60, 655 confirmed cases; 52, 006 recoveries and 1,116 deaths, including one recorded on Tuesday.
* Football star, Ronaldo is the latested celebrity to test positive.