President Muhammadu Buhari has been urged to include the governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, the Minister of Finance, Zainab Ahmed as well as some other ministers in the Economic Advisory Council (EAC). This was said by the Managing Director/Chief Executive Officer, Cowry Asset Management Limited, Mr. Johnson Chukwu during an interview. According to Chukwu, it would be more appropriate if the relevant ministries/agencies were made members of the Council for ease of policy implementation. He stated that some of the decisions of the Council would be expected to cut across monetary policy, and as such, the CBN governor is not expected to be handed over the document by the executive arm for implementation. Chukwu said it was important for Emefiele to come in either as an advisor or as an observer. Chukwu made it known that there has to be a higher level of interface between the Council and the executive arm of government. He also said that the finance ministers and other economic ministers should join the EAC so that it wouldn’t be just advisory but executable government policies.--- Support this podcast: https://anchor.fm/newscast-africa/support

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President Muhammadu Buhari has been urged to include the governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, the Minister of Finance, Zainab Ahmed as well as some other ministers in the Economic Advisory Council (EAC). This was said by the Managing Director/Chief Executive Officer, Cowry Asset Management Limited, Mr. Johnson Chukwu during an interview. According to Chukwu, it would be more appropriate if the relevant ministries/agencies were made members of the Council for ease of policy implementation. He stated that some of the decisions of the Council would be expected to cut across monetary policy, and as such, the CBN governor is not expected to be handed over the document by the executive arm for implementation. Chukwu said it was important for Emefiele to come in either as an advisor or as an observer. Chukwu made it known that there has to be a higher level of interface between the Council and the executive arm of government. He also said that the finance ministers and other economic ministers should join the EAC so that it wouldn’t be just advisory but executable government policies.

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Former Nigerian President, Olusegun Obasanjo, has called on the Democratic Republic of Congo (DRC) to invest in agriculture; Nigeria generated the total sum of N691.11 billion between January and June 2019; Ethiopian Prime Minister wins Nobel Peace Prize; Google pulls down a game that makes the player act like a Hong Kong protester from its App store--- Support this podcast: https://anchor.fm/newscast-africa/support

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The World Bank has revised overall growth projections for Sub-Saharan Africa to 2.6 percent in 2019 about 0.2 percent lower than the April forecast. In the 20th edition of Africa's pulse released on Wednesday this week, the World Bank noted that growth would be hampered by persistent global economic uncertainty. "Global uncertainty is taking a toll on growth well beyond Africa, and real GDP growth is also expected to slow significantly in other emerging and developing regions. The recovery in Nigeria, South Africa, and Angola, the region's three largest economies, has remained weak and is weighing on growth prospects. In Nigeria, growth in the non-oil sector has been sluggish, while in Angola the oil sector remained weak. In South Africa, low investment sentiment is weighing on economic activity. "Africa's economies are not immune to what is happening in the rest of the world, and this is reflected in the subdued growth rates across the region. At the same time, the evidence clearly links poor governance to poor growth performance, so efficient and transparent institutions should be on the priority list for African policymakers and citizens," said Albert Zeufack, Chief Economist for Africa at the World Bank. The report listed Rwanda as one of the non-resource intensive countries on the continent which has enjoyed growth accelerated by strong construction activities alongside Côte d'Ivoire and Ethiopia.--- Support this podcast: https://anchor.fm/newscast-africa/support

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The World Bank has revised overall growth projections for Sub-Saharan Africa to 2.6 percent in 2019 about 0.2 percent lower than the April forecast. In the 20th edition of Africa's pulse released on Wednesday this week, the World Bank noted that growth would be hampered by persistent global economic uncertainty. "Global uncertainty is taking a toll on growth well beyond Africa, and real GDP growth is also expected to slow significantly in other emerging and developing regions. The recovery in Nigeria, South Africa, and Angola, the region's three largest economies, has remained weak and is weighing on growth prospects. In Nigeria, growth in the non-oil sector has been sluggish, while in Angola the oil sector remained weak. In South Africa, low investment sentiment is weighing on economic activity. "Africa's economies are not immune to what is happening in the rest of the world, and this is reflected in the subdued growth rates across the region. At the same time, the evidence clearly links poor governance to poor growth performance, so efficient and transparent institutions should be on the priority list for African policymakers and citizens," said Albert Zeufack, Chief Economist for Africa at the World Bank. The report listed Rwanda as one of the non-resource intensive countries on the continent which has enjoyed growth accelerated by strong construction activities alongside Côte d'Ivoire and Ethiopia.

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The latest Internally Generated Revenue report released by the National Bureau of Statistics showed that all states in Nigeria generated the total sum of N691.11 billion between January and June 2019. According to the Bureau’s report, the IGR generated by the 36 states and FCT rose by 94.2 billion (15.7%) when compared to the N596.91 billion IGR generated in half 2018. The report also showed that thirty-one (31) states and the FCT recorded growth in IGR while five (5) states recorded a decline in IGR at the end of H1 2019. Details of the report showed that across the 36 states, Lagos State generated the biggest IGR of N205.16 billion, representing 30% of the total states’ IGR in half-year 2019. River State ranked as the second biggest with an IGR of N75.9 billion Other states among the top 10 states with the biggest IGR include FCT (N38.5 billion), Delta (N36.3 billion), Ogun (N29.5 billion), Kaduna (N22.4 billion), Akwa Ibom (N20.4 billion), Ondo (N19 billion), Kano (N18.5 billion) and Cross River (N16.7 billion). Gombe, Yobe and Taraba states recorded the lowest IGR of N2.08 billion, N2.2 billion and N3.27 billion.--- Support this podcast: https://anchor.fm/newscast-africa/support

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The latest Internally Generated Revenue report released by the National Bureau of Statistics showed that all states in Nigeria generated the total sum of N691.11 billion between January and June 2019. According to the Bureau’s report, the IGR generated by the 36 states and FCT rose by 94.2 billion (15.7%) when compared to the N596.91 billion IGR generated in half 2018. The report also showed that thirty-one (31) states and the FCT recorded growth in IGR while five (5) states recorded a decline in IGR at the end of H1 2019. Details of the report showed that across the 36 states, Lagos State generated the biggest IGR of N205.16 billion, representing 30% of the total states’ IGR in half-year 2019. River State ranked as the second biggest with an IGR of N75.9 billion Other states among the top 10 states with the biggest IGR include FCT (N38.5 billion), Delta (N36.3 billion), Ogun (N29.5 billion), Kaduna (N22.4 billion), Akwa Ibom (N20.4 billion), Ondo (N19 billion), Kano (N18.5 billion) and Cross River (N16.7 billion). Gombe, Yobe and Taraba states recorded the lowest IGR of N2.08 billion, N2.2 billion and N3.27 billion.

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Ethiopia Prime Minister Abiy Ahmed has won the 2019 Nobel Peace Prize for "for his efforts to achieve peace and international cooperation, and in particular for his decisive initiative to resolve the border conflict with neighboring Eritrea." The Nobel committee said during its announcement Friday that the coveted prize was also meant to recognize all the stakeholders working for peace and reconciliation in Ethiopia and in the East and Northeast African regions. Ahmed clinched a peace deal with Eritrea President Isaias Afwerki last year that ended 20 years of the "no peace, no war" stalemate between the two countries. According to TIME, at least 70,000 people were killed since the border disputes began in 1998, five years after Eritrea gained independence from Ethiopia.

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