Africa Business News

Figures have shown the 36 Nigerian states and the Federal Capital Territory generated 162.87 billion naira in the first six months of the year.
This was contained in a report by the National Bureau of Statistics showing the Internally Generated Revenue at State level for Half Year 2020. According to the report, the “36 states and FCT internally generated revenue of 612.87 billion naira in the first half of 2020, compared to 693.91 billion naira recorded in 2019.
The NBS noted that this indicates a negative growth of -11.7 per cent yearly.
It added that similarly, Q2 2020 states and FCT IGR was 259.73 billion naira compared to 353.14 billion naira recorded in Q1 2020.
The NBS said this indicates a negative growth of -26.5 per cent quarter on quarter.
According to the report, Lagos State recorded the highest IGR with 204.51 billion naira in H1 2020, followed by Rivers State with 64.59 billion naira while Jigawa State recorded the least IGR.

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Aviation unions have threatened to go on strike in seven days over shortfalls in salary payments to workers of the Federal Airports Authority of Nigeria.
In a letter addressed to the Managing Director of FAAN, Captain Rabiu Yadudu, the workers said the increasing delays and staggering of salary payment had become unbearable.
The statement was jointly signed by the National Union of Air Transports Employees, Air Transport Services Senior Association of Nigeria and Association of Nigeria Aviation Professionals. The workers demanded full payment of all outstanding co-operatives funds, pensions, tax and allowances.

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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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Nigeria's Minister of State for Education, Chukwuemeka Nwajiuba, says professors in the country receive a large portion of the nation's education budget. Nwajiuba stated this while reacting to the recent industrial action by the Academic Staff Union of Universities. According to him, the bulk of the money being budgeted for education is paid to the 10,500 professors, out of the 71,000 lecturers in Nigeria.
Faulting ASUU’s request for more funds, the minister said the union should realise that no sector in the country was getting enough money.
He also said the union’s penchant for strike was driving public school students abroad and to private universities.

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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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Nigeria's former Minister of Finance, Ngozi Okonjo-Iweala, is set to be announced on Thursday as one of the final two candidates from a shortlist of five to lead the World Trade Organisation.
Reports suggest the two finalists are Okonjo-Iweala of Nigeria and Yoo Myung-he of South Korea.
The WTO has never been led by a woman or an African. The hope is that having an African head the organisation could boost the continent’s trade, which has stagnated at 2% to 3% of the global average. The successful candidate is expected to be announced next month.
The new director general will have to deal with the US-China trade dispute and increased global protectionism.

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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 number of people infected with the coronavirus across the world surpassed 35.8 million, of which at least 1.04 million people have died and 24.98 million have recovered, according to data released by the Johns Hopkins University. In the US, the epicenter of the disease, the number of infections rose by 43.2 thousand in the last 24 hours to 7.5 million, while India reported 72 thousand new cases to 6.75 million and Brazil 41.9 thousand to 4.96 million

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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

Taiwan defence minister on Wednesday said the country has spent almost $900 million this year on scrambling its air force against Chinese incursions, describing the pressure they are facing as great.


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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 UK Guardian reports that Credit Suisse, a leading investment bank, has apologised for any offence caused after the New York Times reported that its former CEO, who is from Ivory Coast, left his chairman’s birthday party when a black performer dressed as a janitor danced on stage.
The New York Times reports that interviews with sources suggest that race contributed to Mr Thiam's departure.


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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 United Nations Office for Coordination of Humanitarian Affairs (OCHA) said nearly one million people are now known to have been affected by flooding in South Sudan.
OCHA says an estimated 800,000 people who have been affected are in areas along the White Nile.


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The health authority overseeing Mozambique's capital, Maputo, has said an investigation will be opened following reports of an ongoing trade in documents certifying a negative result for Covid-19.
Mozambique and neighbouring South Africa require travellers to present a Covid-19 free certificate from a test taken 72 hours before travel.


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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 virtual summit of countries in the Great Lakes region is expected to take place on Wednesday following several postponements amid rising diplomatic tensions.
Rwanda declined to participate in the summit initially planned for 14 September after the Democratic Republic of Congo summoned its envoy for allegedly downplaying his country’s role in 1998 killings in the eastern region of Kasiki.


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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