Africa Business News

Nigeria’s candidate for the leadership of the World Trade Organisation (WTO), Dr. Ngozi Okonjo-Iweala, has called on multilateral institutions and developed countries to increase their support for low income countries, especially Africa, by providing more concessionary funding.
She said this on Thursday on the sidelines of the ongoing IMF/World Bank Annual meetings, at the CNBC Debate.
She also stressed the need for global collaborative efforts towards acquiring and distributing COVID-19 vaccines when they are ready.
She advised the developed countries to rethink their approach to global development because as long as people in developing countries and poor nations are unsafe, nobody in the developed countries will be safe.

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· Afrolit Podcast: Hosted by Ekua PM, Afrolit shares the stories of multi-faceted Africans one episode at a time. https://open.spotify.com/show/2nJxiiYRyfMQlDEXXpzlZS?si=mmgODX3NQ-yfQvR0JRH-WA

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The Nigerian National Petroleum Corporation (NNPC) has released its 2019 audited financial statement, about five months after publishing its 2018 report, which was the first in its 43-year existence.
In the second audited financial statement made public on Thursday, the corporation achieved N801.3 billion reduction in its loss profile from a whopping N803 billion in 2018 to N1.7 billion in 2019. This represents a 99.7 percentage cut in its losses.
The corporation said when completed, the Asa North-Ohaji South (ANOH) gas project would be able to fuel power plants to generate approximately 2,400MW of electricity for the country.

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This episode is sponsored by
· Afrolit Podcast: Hosted by Ekua PM, Afrolit shares the stories of multi-faceted Africans one episode at a time. https://open.spotify.com/show/2nJxiiYRyfMQlDEXXpzlZS?si=mmgODX3NQ-yfQvR0JRH-WA

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The Inspector-General of Police, IGP M.A Adamu, has warned all Police Officers across the country against the use of force on peaceful protesters.
In a communique by the police spokesman, DCP Frank Mba, the IGP noted that citizens have fundamental rights of freedom of expression, assembly, and movement which must always be upheld and protected by the police.
The boss on Thursday however appealed to protesters to continually conduct themselves peacefully and guide their ranks against infiltration by criminal elements.
He stressed that the Force leadership has clearly heard the voice of the people and is irrevocably committed to doing everything within its powers to address the observed ills, punish any offending officers and promote a people-friendly police force.

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This episode is sponsored by
· Afrolit Podcast: Hosted by Ekua PM, Afrolit shares the stories of multi-faceted Africans one episode at a time. https://open.spotify.com/show/2nJxiiYRyfMQlDEXXpzlZS?si=mmgODX3NQ-yfQvR0JRH-WA

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A document obtained from the US Government website showed that Nigeria has been barred from the US visa lottery application for 2022.
In a 19-page document published on the website, Nigeria is the only African country barred from the visa lottery.
The statement said the Department of State determines selectees through a randomized computer drawing.
The Statement added that the Department of State distributes diversity visas among six geographic regions, and no single country may receive more than seven per cent of the available DVs in any one year.

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This episode is sponsored by
· Afrolit Podcast: Hosted by Ekua PM, Afrolit shares the stories of multi-faceted Africans one episode at a time. https://open.spotify.com/show/2nJxiiYRyfMQlDEXXpzlZS?si=mmgODX3NQ-yfQvR0JRH-WA

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The Federal Government said all prospective corps members will undergo mandatory COVID-19 tests ahead of the reopening of orientation camps nationwide.
The FG said all National Youth Service Corps orientation camps would reopen effective November 10, 2020.
Mr. Sani Aliyu, the National Coordinator of the Presidential Task Force on COVID-19, stated this during a briefing in Abuja on Thursday.
He said guidelines have been developed with the NCDC (Nigeria Centre for Disease Control) and the NYSC in the preparation for the reopening of the orientation camps on the 10th of November, 2020.

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This episode is sponsored by
· Afrolit Podcast: Hosted by Ekua PM, Afrolit shares the stories of multi-faceted Africans one episode at a time. https://open.spotify.com/show/2nJxiiYRyfMQlDEXXpzlZS?si=mmgODX3NQ-yfQvR0JRH-WA

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The Federation Accounts Allocation Committee (FAAC) has shared a total of N639.901 billion September 2020 federation account revenue to the Federal, States, and Local Government Councils and agencies.
This was announced the Permanent Secretary, Federal Ministry of Finance, Alhaji Aliyu Ahmed after the physical meeting of the Federation Account Allocation Committee (FAAC) for the month of October held at the Federal Ministry of Finance headquarters, Abuja.
The total distributable revenue of N639.901billion comprised statutory revenue of N341.501 billion; Value Added Tax (VAT) revenue of N141.858 billion; N39.542 billion from Forex Equalisation; N45 billion from Non-oil Excess Revenue and N72 billion Federal Government Intervention Revenue.

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This episode is sponsored by
· Afrolit Podcast: Hosted by Ekua PM, Afrolit shares the stories of multi-faceted Africans one episode at a time. https://open.spotify.com/show/2nJxiiYRyfMQlDEXXpzlZS?si=mmgODX3NQ-yfQvR0JRH-WA

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The Nigeria Centre for Disease Control has confirmed 148 new cases of coronavirus in the country. This brings the total number of COVID-19 infections recorded in the country so far to 60,982.
The Nigeria Centre for Disease Control (NCDC) in a tweet on its official handle, showed that the 148 new cases were reported from 14 states.
Lagos had sixty-six cases, FCT had twenty-five cases, Oyo had thirteen cases, Plateau had eleven cases, Kaduna had seven cases, Rivers had six cases, Ebonyi had five cases, Ekiti and Ogun had four cases each, Imo and Ondo had two cases each, Edo, Nasarawa and Taraba had one case each.
A total of 52,194 persons have recovered from the virus while the death toll now stands at 1,116.

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This episode is sponsored by
· Afrolit Podcast: Hosted by Ekua PM, Afrolit shares the stories of multi-faceted Africans one episode at a time. https://open.spotify.com/show/2nJxiiYRyfMQlDEXXpzlZS?si=mmgODX3NQ-yfQvR0JRH-WA

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Apple joined the move to 5G on Tuesday, unveiling four new iPhones which use the new standard in what could be a turning point for the high-speed wireless technology.

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This episode is sponsored by
· Afrolit Podcast: Hosted by Ekua PM, Afrolit shares the stories of multi-faceted Africans one episode at a time. https://open.spotify.com/show/2nJxiiYRyfMQlDEXXpzlZS?si=mmgODX3NQ-yfQvR0JRH-WA

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Prime Minister Saara Kuugongelwa-Amadhila said Namibia's government will next week "give feedback" to the gender-based violence petition presented by demonstrators.

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This episode is sponsored by
· Afrolit Podcast: Hosted by Ekua PM, Afrolit shares the stories of multi-faceted Africans one episode at a time. https://open.spotify.com/show/2nJxiiYRyfMQlDEXXpzlZS?si=mmgODX3NQ-yfQvR0JRH-WA

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Rwanda has approved the production and export of cannabis for medical use as a way of boosting its revenues.
A cabinet meeting held on Monday approved guidelines on cultivation, processing and export of high value therapeutic crops in Rwanda.

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This episode is sponsored by
· Afrolit Podcast: Hosted by Ekua PM, Afrolit shares the stories of multi-faceted Africans one episode at a time. https://open.spotify.com/show/2nJxiiYRyfMQlDEXXpzlZS?si=mmgODX3NQ-yfQvR0JRH-WA

Support this podcast: https://anchor.fm/newscast-africa/support