Author: darelasisi@gmail.com

Oil slipped below 61 dollars a barrel on Thursday as concern over the demand outlook offset a surprise drop in U.S. crude inventories and the prospect of further action by OPEC and its allies to support the market. In the latest sign of economic weakness that has prompted lower oil demand projections, employment in Germany’s private sector fell for the first time in six years in October, survey showed on Thursday. Brent crude LCOc1 fell 39 cents to 60.78 dollars a barrel by 0844 GMT, having risen 2.5 per cent on Wednesday and touched it highest since Sept. 30. U.S.…

The Nigeria Deposit Insurance Corporation (NDIC) has assured depositors of its drive to adopt cost effective method of bank failure resolution to protect depositors. The 2018 annual report of the corporation just released in Abuja said it would also ensure prompt reimbursement of depositors in the event of bank failure in its future outlook. The report said the corporation would strengthen its supervisory functions by enhancing its skills in stress testing, financial technology, recovery and resolution plans. On bank failure resolution in 2018, it said that CBN revoked the operating licence of the troubled Skye Bank. but the corporation resolved…

The National Assembly has tasked the Federal Ministries, Departments and Agencies (MDAs) to provide achievable targets that are measurable with timelines for the implementation of the 2020 Budget. President of the Senate and Chairman of the National Assembly, Ahmad Lawan, said the ninth Assembly is not only concerned about the timely passage of the budget but also deeply concerned about its implementation. Lawan, flanked by the Speaker of the House of Representatives, Rt. Hon. Femi Gbajabiamila and principal officers of both chambers, spoke at the National Budget Hearing on the 2020 Federal Government Budget which began on Wednesday at the…

Governor Seyi Makinde of Oyo State, on Wednesday, announced that he has given approval for the recruitment of teachers into the State’s teaching service, noting that his government is re-engineering the education for “long-lasting positive results.” A statement signed by the Chief Press Secretary to the Governor, Mr. Taiwo Adisa, indicated that the Governor stated this while speaking at the commissioning of a N50 million multipurpose hall donated to the Ilora Baptist Grammar School, Ilora, by an old student, Mr. Remi Oyekola. The statement also quoted the Governor as indicating that the state government has not scrapped the School Governing…

If the time-honoured aphorism which considers education as the bedrock of development is anything to go by and if the age-long believe that; with sound educational institutions, a country is as good as made -as the institutions will turn out all rounded manpower to continue with the development of the society driven by well thought out ideas, policies, programmes, and projects remains a valid argument, then, we all have reasons not only to feel worried but collectively work hard to deliver the nation’s public universities from the valleys of the shadow of death. Specifically, the challenge comes in two forms; the first lays…

Along with Benin, Niger, which shares a 1,500-kilometre (900-mile) border with Nigeria, has been badly hit by the closure of Nigeria’s border. A long line of lorries from Niger and elsewhere in West Africa is stranded at Dan Issa. Some are full, some laden with goods. The drivers and their assistants sleep on the ground or in the cabins of their vehicles. All along the 30 kilometre road between the border and the city of Maradi, customs officials and police officers sip tea or coffee and chat. Groups of young people at a loose end and motorbike taxi drivers short…

President Muhammadu Buhari has approved the appointment of Captain Musa Nuhu as the new Director General of the Nigerian Civil Aviation Authority (NCAA). Nuhu replaces Captain Muthar Usman, erstwhile Director General of the organization. This is contained in a statement signed by Mr James Odaudu, Director Public Affairs, Ministry of Aviation on Wednesday in Abuja. “Nuhu who until his appointment was Nigeria’s Permanent Representative to the International Civil Aviation organization (ICAO), is an Airline Pilot, a safety expert, a quality assurance Lead Auditor as well as an Artificial Intelligence expert. “He holds an MSc Degree in Aviation business and was at…

It has been months since the Nigerian government closed its land borders to her neighbor countries. The action has generated controversies, locally and internationally, in favor and against, but the vitriolic ones are coming from those profiting from the illegal business activities in and around the borders, killing the Nigerian economy. In the midst of this, the federal government got support from an unexpected quarter, the International Monetary Fund (IMF), during the last annual meetings of the Breton Woods institutions in Washington DC, lauding its action. The Director of African Department, Abebe Selassie, made the commendation. Selassie said though free…

The early warning signals of voter inducement and electoral violence should not be overlooked ahead of the November 16 Governorship elections in Kogi State. A recent report on the pre-election observation by YIAGA AFRICA has revealed commencement of voter inducement in both states while subsequent engagement by election stakeholders has conveyed the wrong signals. The chaotic end to the recent stakeholders meeting organized by Independent National Electoral Commission (INEC) towards ensuring a free, fair and credible governorship election is not sending the right signals ahead of the November 16 elections. It is no more news that the dramatic incident was expectedly caused…

President Muhammadu Buhari has expressed delight with the World Bank’s 2020 Doing Business Index (DBI) which ranked Nigeria 131 out of 190 countries, up 15 places from 146th position last year. The report, which was released Thursday, also named Nigeria one of the top 10 most improved economies in the world for the second time in three years. Nigeria is one of only two African countries to make this highly prestigious list. With this year’s leap, Nigeria has improved an aggregate of 39 places in the World Bank Doing Business index since 2016. The Doing Business Index is an annual ranking…