Africa Business News

President Muhammadu Buhari has written to the National Assembly for the approval of a fresh 2.343 trillion naira external loan.The President is requesting for the resolution of the National Assembly for the implementation of the external borrowing of 2.18 billion dollars in the 2021 Appropriations Act.President Buhari further stated in the letter that the 2021 budget provides for 4.686 trillion as new borrowing to part-finance the 2021 fiscal deficit of which 50 per cent is specified as new external borrowing.The loan is to be sourced from a combination of sources namely multilateral and bilateral lenders, the international capital market through the issuance of Eurobonds.

Australian Prime Minister Scott Morrison says it was still not safe to allow residents, even those fully vaccinated against COVID-19, to travel overseas, as industries hit hard by the pandemic press for a faster reopening of international borders.Morrison says any plans to relax border rules for vaccinated travellers could be implemented only when it is safe to do so.Australia plans to reopen borders to the rest of the world from the middle of 2022 even as the federal budget unveiled last week hopes to fully vaccinate it is near 26 million population by the end of this year.

United States President Joe Biden has conveyed his support for a ceasefire to end violence in the Gaza Strip while facing increasing pressure from rights advocates and members of his own Democratic Party.The White House says Biden expressed his support for a ceasefire and discussed US engagement with Egypt and other partners towards that end in a phone call with Israeli caretaker Prime Minister Benjamin Netanyahu.A day earlier, Netanyahu had said the Israeli military offensive on Gaza would continue full force.

The head of the World Health Organization has described the situation in Ethiopia’s conflict-hit Tigray region as horrific.Tedros Adhanom Ghebreyesus says people were dying of hunger with malnutrition spreading fast.He criticised the fact that health services had been destroyed and said rape was rampant.His comments came as the Ethiopian government issued a statement denouncing what it called a campaign to exert undue pressure.It said aid agencies had free access and rejected calls for any form of dialogue with the TPLF, with whom it is fighting the conflict.

Spain is deploying the army in its North African enclave of Ceuta to stem a huge influx of migrants from Morocco.A record 5,000 arrived on Monday. Moroccan border guards did nothing to stop them. Police sources say the number could increase further.Spanish officials have accused Morocco of using the migrants as blackmail.Diplomatic relations are tense after the leader of the Polisario Front was allowed into Spain for Covid-19 treatment.Polisario is fighting Morocco for control over Western Sahara.

The Federal Government is concerned about Nigeria’s security challenges and doing all it can to restore peace in every part of the country.Lai Mohammed, the Minister of Information and Culture, called on the Nigerian Institute of Public Relations as a stakeholder on national issues, to speak out against those fanning the embers of disunity and discord in Nigeria.Mohammed welcomed the NIPR’s offer to make available its platform for a national engagement on national unity, peace and security, saying it falls into the template of the town hall meetings on topical issues which have been institutionalised by the Federal Government.

State governors have called for the devolution of powers to states to tackle the disturbing trend of insecurity in the country.The governors stressed the need to take action to advance the conversation on what they described as the worsening security situation and collapsing economy of the nation.President Muhammadu Buhari was urged to send an executive bill to the National Assembly.The bill was to amend the Constitution to devolve more powers to the states concerning security arrangements culminating in some form of state policing and the general security architecture.

The Economic and Financial Crimes Commission has arrested the immediate past governor of Kwara State, Abdulfatah Ahmed. Sources at the anti-graft agency say that the former governor is being questioned by a crack team of operatives at the EFCC headquarters in the Jabi area of Abuja.Sources revealed that his arrest was in connection with how funds to the tune of about N9 billion were allegedly diverted from the coffers of the Kwara State government.A spokesman for the EFCC, Wilson Uwujaren, confirmed that the former governor responded to the commission’s invitation.

The head of Ethiopia's electoral board says elections which were due to take place on 5 June will have to be postponed owing to logistical issues.The board has yet to formalise the decision or set a new date - but it is likely to be a delay of several weeks.Birtukan Mideksa says there were still challenges with voter registration, training of electoral staff and ballot papers.The election was initially due to have taken place last year but was postponed because of coronavirus.

The United States has condemned the blocking of aid by military forces operating in Ethiopia’s northern Tigray region.A statement from US Secretary of State Antony Blinken called on the governments of Eritrea and Ethiopia to ensure aid is allowed to reach the millions who need it.The UN World Food Programme says 5.2 million people are in need of food assistance in Tigray and there were many credible reports of armed forces attacking civilians including gender-based violence.He added that the conduct of the Eritrean military and troops from the Amhara region had been particularly egregious.