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The state’s police spokesman Wasiu Abiodun told CNN in a statement that operatives arrested 11 armed “hoodlums” who set fire to a government building after looting it. Activist and lawyer Deji Adeyanju told CNN Thursday that there were counter-demonstrations by pro-government protesters who arrived in buses accompanied by a security vehicle. “In the northern part of Nigeria, the largest part of our country … the primary cause of hunger is insecurity. He added that Nigerians were also pained watching their leaders live in luxury while they struggled to make ends meet. Analysts told CNN at the time it was “hypocrisy” for the government to spend on luxuries while impoverished citizens suffer hardship.
Persons: Bosun Tijani, Wasiu Abiodun, hoodlums ”, Abiodun, Benson Ibeabuchi, Deji Adeyanju, Josephine Adeh, , , We’ll, ” Dele, “ unifies, Bola Tinubu, Tinubu, Mohammed Idris, , ” Farotimi, Sulaimon Organizations: CNN, Innovation, Communications, Bloomberg, Getty, Kaduna Police Command, Nigeria ’, Channels Television, , , Nigeria’s Locations: Nigeria, Africa, Kenya, Uganda, Ghana, Kano, Abuja, Niger, Ikeja, Lagos, Kaduna, AFP
Military and police personnel arrest protesters during the anti-corruption protest in the Ugandan capital, Kampala, on July 23, 2024. Those protesting are angry about widespread government corruption in the country, which loses an estimated Sh. 10 trillion ($2.7 billion) in public funding to graft annually, according to Ugandan anti-corruption body the Inspectorate of Government (IG). In the preceding months, Ghana, Senegal’s fellow West African state, saw days of anti-government protests as demonstrators railed against economic hardships and unemployment. “All over Africa, we are… sitting on a keg of gunpowder,” he said in a recent interview with CNN affiliate Citizen TV.
Persons: Z –, William Ruto, Fabz, Anita Annet, Yoweri Museveni, Inibehe Effiong, , Bola Tinubu, Edward Buba, ” Mugano, Mamadou Thior, ” Thior, Thior, Macky Sall, Sall backtracked, Bassirou Diomaye Faye, Olusegun Obasanjo, There’s, … unempowered, Obasanjo Organizations: CNN, Military, Xinhua, Security, of Government, World Bank, South Africa’s Durban University of Technology, , Citizen TV Locations: Kenya, East, Kampala, Uganda, Ugandan, United States, United Kingdom, Nigeria, West, Africa, West Africa, Senegal, Ghana
Cane-swinging union workers were also seen in photos circulating on social media Monday ordering personnel of the country’s tax agency out of their offices. This strike comes after failed negotiations with the government to raise the federal minimum wage. The unions’ demands include raising the minimum wage from 30,000 naira ($22.4) to 494,000 naira ($369.6). Despite being Africa’s fourth-largest economy, Nigeria’s minimum wage is not among the continent’s top ten, lagging far behind countries like Seychelles, where workers receive a minimum wage of $465.4 monthly. 30k or 60k minimum wage in 2024 Nigeria is unsustainable and unacceptable,” wrote lawyer Festus Ogun in a post on X.
Persons: Bayo Onanuga, Onanuga, Olusina Ajidahun, “ I’m, , Lateef Fagbemi, Festus Ogun, Dipo Awojide, Bola Tinubu’s, Ajuri Ngelale Organizations: CNN, Transmission Company, Nigeria, Nigerian Labor Congress, Trade Union Congress, TUC, TCN, Health, Healthcare, Nigerian, Onanuga, NLC Locations: Nigeria, Seychelles, Lagos, Abuja, Nigerian
Abuja, Nigeria CNN —The Duke and Duchess of Sussex landed in Nigeria on Friday, launching a three-day private visit to the West African nation, where they will meet with wounded soldiers and visit local charities, officials said. My husband was excited to jump up!” Meghan told cheering students in the school’s hall. Kola Sulaimon/AFP/Getty ImagesPrince Harry and Meghan were invited to Nigeria by the chief of defense staff, Christopher Musa, the country’s highest-ranking military official. The couple’s hosts, the Nigerian Defence Headquarters, are keen to be involved further in the Invictus Games and to be part of the wider Invictus community. Effiom Antigha, captain of Team Nigeria, told CNN last year that the games gave him a new lease on life.
Persons: Duke, Duchess of Sussex, Marshal Abidemi Marquis, “ We’re, ” Meghan, Harry, , Kola Sulaimon, Prince Harry, Meghan, Christopher Musa, Marquis, Oyeyemi Aderibigbe, , Ife, Etti, , Ngozi, Bola Tinubu, Richard Montgomery, ” Cpl, Effiom Antigha Organizations: CNN’s Royal, Nigeria CNN, Invictus, Air, Nigerian Defence Headquarters, Lightway Academy, GEANCO Foundation, Getty, CNN, Invictus Games, World Trade Organization, Israel, Team Nigeria, Foundation Locations: Abuja, Nigeria, West African, Kola, AFP, Lagos, Nigerian, London, Los Angeles, Kaduna State, Germany, Colombia
Abuja, Nigeria CNN —African leaders discussed anti-terrorism solutions on the continent during a high-level security summit in the Nigerian capital Abuja Monday amid a rise in terror attacks. According to the African Center for the Study and Research on Terrorism (ACSRT), Africa witnessed an average of eight terror-related incidents and 44 daily casualties in 2023. Nigeria’s National Security Adviser and organizer of the summit, Nuhu Ribadu, emphasized the urgent need to combat terrorism in Africa. Nigeria’s President Bola Ahmed Tinubu, the chair of the West African regional bloc ECOWAS, urged the proper establishment and strengthening of a regional standby military force. “The moment has come to work out an all-encompassing Continental Strategic Plan of Action to effectively fight against terrorism across Africa,” Faki said.
Persons: Ribadu, ” Ribadu, Bola Ahmed Tinubu, Faure Gnassingbe, African Union Commission Moussa Faki Mahamat, ” Faki, Tinubu, Faki, Africa’s Organizations: Nigeria CNN —, African Center, Research, Terrorism, Nigeria’s National Security, West African, ECOWAS, United Nations, African Union Commission Locations: Abuja, Nigeria, Nigerian, Africa, Africa’s, Niger, Burkina Faso, Mali, Togolese
CNN —Nigerian chess champion and child education advocate Tunde Onakoya has broken the record for the longest chess marathon after playing for an extraordinary 60 hours nonstop under the bright lights of New York City’s Times Square. The Guinness World Record organization has not yet confirmed Onakoya’s attempt, which can sometimes take weeks, but for many Nigerians, the 29-year-old is already considered something of a national hero. Onakoya played against Shawn Martinez, a US chess champion, in accordance with the Guinness World Record guidelines that any attempt to break the record must be made by two players who play continuously for the duration. Onakoya founded Chess in Slums Africa, which seeks to empower children in underprivileged communities by using chess to enhance critical thinking and problem-solving skills, in Lagos. People celebrate as Tunde Onakoya marks 46 hours for consecutively playing a chess game in Times Square, Friday, April 19, 2024, in New York.
Persons: Tunde, Onakoya, Hallvard Haug Flatebø, Let’s, Shawn Martinez, Martinez, Davido, Adekunle, Bola Tinubu, Ajuri Ngelale, , Tinubu, Yuki Iwamura, Solomon Passy, Russell Makofsky Organizations: CNN, New York City’s, Guinness, Nigeria’s, Champion, People, Times Locations: Nigerian, New York, Africa, Norway, Manhattan, Nigeria, Lagos, Berlin, Bulgarian, US
CNN —Nearly 300 schoolchildren kidnapped in Nigeria earlier this month have been released, the governor of the country’s Kaduna state said in a post on X on Sunday. “The abducted Kuriga school children are released unharmed,” Uba Sani said, without providing further details. Some students were rescued but 287 of them had remained with the kidnappers – around 100 were from primary school and the rest from secondary school. Kaduna state, which borders the Nigerian capital Abuja to the southwest, has grappled with recurring incidents of kidnappings for ransom by bandits and has witnessed several mass abductions in recent years. This is a developing story and will be updated.
Persons: , ” Uba Sani, Sani, Bola Tinubu, , Mansur Hassan, Nuhu Ribadu, ” Sani, Mariya Knight Organizations: CNN, Secondary School, country’s National, Nigerian Army Locations: Nigeria, Kaduna, Kuriga, Kaduna’s Chikun, Abuja, Princewill
The source said the army's Kaduna-based One Division was leading the operation and "will soon have the bandits in their sights". "The security agencies and the state government are working tirelessly to ensure the freedom of all the abducted students and pupils. We are making progress," said Muhammad Shehu Lawal, a spokesperson for Kaduna state governor, without giving details. Photos You Should See View All 60 ImagesThe mass kidnapping last Thursday, the first since July 2021, shattered the dusty town of Kuriga, 90 km from Kaduna state capital, with parents waiting for answers from authorities. According to Lagos-based consultancy SBM Intelligence 4,500 people have been kidnapped throughout Nigeria since Tinubu took office last May.
Persons: Garba Muhammad, Hamza Ibrahim, Muhammad Shehu Lawal, Bola Tinubu, Bala Ibrahim, Ibrahim, Tinubu, Ikemesit Effiong, MacDonald Dzirutwe, Angus MacSwan Organizations: Reuters, SBM Intelligence, Security Locations: Hamza Ibrahim KADUNA, Nigeria, Kaduna, Nigerian, Kuriga, Chibok, Borno, Niger, Birnin, Lagos
"We can't ditch our fears, but we can be intentional about managing our fear," Sokunbi said during CNBC's Women & Wealth event on Tuesday. Most women are worried about moneyFor women, "financial stress is pretty consistent across all age groups and income," said Lorna Kapusta, head of women and engagement at Fidelity. However, financial stress levels drastically decrease with each additional month of emergency savings set aside, according to Fidelity. Roughly 81% of women with no emergency savings felt a fair amount or a lot of stress. Once women have three months' worth of emergency savings, only 26% report high stress levels, Fidelity found.
Persons: Bola, Bola Sokunbi, Prosper, , Sokunbi, Lorna Kapusta, Kapusta Organizations: Clever Girl Finance, CNBC's, Fidelity Investments, Fidelity Locations: Bola Sokunbi, Northwestern
IBADAN, Nigeria - Feb. 19, 2024: Demonstrators hold placards during a protest against the hike in price and hard living conditions in Ibadan on February 19, 2024. Inflation hit an annual 29.9% in January, driven by soaring food prices that have triggered a cost-of-living crisis in Africa's largest economy. The naira currency, meanwhile, plunged to an all-time low of around 1,600 against the U.S. dollar in late February. "With about 8 percent of Nigerians deemed food insecure, addressing rising food insecurity is the immediate policy priority." IBADAN, Nigeria - Feb. 19, 2024: Demonstrators are seen at a protest against the hike in price and hard living conditions in Ibadan on February 19, 2024.
Persons: Samuel Alabi, Bola Tinubu's, David Omojomolo, Olayemi Cardoso Organizations: Afp, Getty Images, International Monetary Fund, U.S, Bloomberg, Getty, Washington, D.C, IMF, Central Bank of, Capital Economics Locations: IBADAN, Nigeria, Ibadan, Getty Images Nigeria, Africa's, LAGOS, Lagos, Africa
Abuja, Nigeria CNN —The Nigeria Customs Service has paused the sale of seized bags of rice to needy residents amid growing hunger in the country, after confirming people were trampled to death during a deadly crowd surge at its Lagos office Friday. “The crowd became desperate and charged through our barricades in search of rice bags inside emptied containers. Nigeria is battling one of its worst cost-of-living crises that has seen inflation rise to nearly 30% - the highest in 30 years. ‘End hunger’ protestsFresh protests broke out on Tuesday as labor unions mobilized for nationwide demonstrations to rail against the economic hardships. The government also endorsed a 2012 recommendation from a presidential committee that recommended cuts to government staffing levels.
Persons: Abdullahi Maiwada, regrettably, ” Maiwada, EndHungerProtest, Bola Tinubu, Tinubu Organizations: Nigeria CNN —, Nigeria Customs Service, World Bank Locations: Abuja, Nigeria, Lagos, Africa’s, West, India
CNN —The Nigeria Customs Service says it is investigating reports people were trampled to death during a sale of bags of confiscated rice amid growing anger over skyrocketing prices of food in Africa’s most populous country. Long queues have formed outside the Lagos customs office since the commencement of the sale as thousands of locals struggle to grab a bag of the 25-kilogram rice selling at a discounted price of 10,000 naira ($6.80). The customs service said the distribution of the seized bags of rice was part of the government’s plan “to tackle the pressing issue of food insecurity.”The cost of rice, a staple food in Nigeria, has surged in recent months. The customs service says it has been confiscating contraband rice from smugglers following restrictions on foreign rice imports by the Nigerian government. Analysts welcomed the rice distribution initiative but questioned its viability in tackling Nigeria’s worsening food insecurity.
Persons: Abdullahi Maiwada, , , couldn’t, Sam Amadi, Bola Tinubu, Tinubu, Babajide Sanwo, Olu Organizations: CNN, Nigeria Customs Service, World Bank, Analysts Locations: Africa’s, Lagos, West, India, Nigeria, Nigerian
With annual inflation nearing 30% and a currency in freefall, Nigeria is facing one of its worst economic crises in years, provoking nationwide outrage and protests. The currency is down around 70% since May 2023 when Tinubu took office, inheriting a struggling economy and promising a raft of reforms aimed at steadying the ship. In a bid to fix the beleaguered economy and attract international investment, Tinubu unified Nigeria's multiple exchange rates and enabled market forces to set the exchange rate, sending the currency plunging. In January, the market regulator also changed how it calculates the currency's closing rate, resulting in another de facto devaluation. Years of foreign exchange controls have also generated enormous pent-up demand for U.S. dollars at a time when overseas investment and crude oil exports have declined.
Persons: Bola Tinubu, Tinubu Organizations: U.S, greenback Locations: IBADAN, Nigeria, Ibadan, freefall, Nigerian
Lost Images Reveal the History of Rio’s Carnival
  + stars: | 2024-02-10 | by ( Jack Nicas | ) www.nytimes.com   time to read: +6 min
Lost Images Reveal the History of Rio’s CarnivalRafael Cosme was at a Rio de Janeiro antique fair six years ago when he found a pile of film negatives on the ground. It is Rio’s annual collective exhalation — a four-day eruption of art and music, costumes and joy — that began again on Saturday. “I realized there are endless stories I could tell about this city,” Mr. Cosme said about his discovery of Rio’s lost photos. Around that time, Rio’s rich elites began parading around the city during Carnival in open cars, according to Maria Clementina Pereira Cunha, a historian who has written books about Rio’s Carnival. Today the parade remains the centerpiece of Rio’s Carnival, held in a dedicated stadium built in 1984.
Persons: Rafael Cosme, , , Mr, Cosme, , Rio’s, ” Dado Galdieri, Maria Clementina Pereira Cunha, suburbanites, Ms, Pereira Cunha, “ bate bola, Felipe Ferreira, “ blocos Organizations: Rio’s, Rio, The New York Times, State University of Rio Locations: Rio, Janeiro, Rio de Janeiro, Brazil, Europe, Rio’s, , State University of Rio de Janeiro, Brazilian, Black
ACCRA, Ghana - ECOWAS flag with member flags at the second extraordinary summit on the political situation in Burkina Faso, in Accra, Ghana, on February 3, 2022. OUAGADOUGOU, Burkina Faso - Jan. 20, 2023: A banner of Russian President Vladimir Putin is seen during a protest to support the Burkina Faso President Captain Ibrahim Traore and to demand the departure of France's ambassador and military forces. Mali has ruled out leaving WAEMU, while Burkina Faso is considering it. "Mali, Burkina Faso and Niger will likely draw on the extractive sector to improve their weak economies. A recent UN Development Programme report surveyed 5,000 people who had directly experienced a recent coup or unconstitutional change of government, including citizens of Burkina Faso, Chad, Guinea, Mali and Sudan.
Persons: NIPAH DENNIS, Bola Tinubu, Vladimir Putin, Captain Ibrahim Traore, Alex Vines, there'd, Tinubu, Ouattara, , Vines, Mucahid Durmaz, Verisk Maplecroft, Durmaz, Balima Boureima, insurgencies, Wagner, Niger, specter, Mohamed Bazoum, Rey Byhre Organizations: Getty, Economic, West African States, ECOWAS, Nigerian, Africa, Chatham House, CNBC, Algeria —, West, Cote D'Ivoire, Anadolu Agency, Getty Images, Wagner Group, West African Economic, Monetary Union, CFA, National Council for, UN Locations: ACCRA, Ghana, Burkina Faso, Accra, AFP, Mali, Niger, Sahel, Mauritania, OUAGADOUGOU, Chatham, France, Nigeria, Côte d'Ivoire, Algeria, Malian, Russia, Bamako, Mucahid, West Africa, Togo, Benin, Cote, NIAMEY, NIGER, Niamey, West, U.S, Moscow, WAEMU, Seme, Chad, Guinea, Sudan, The Gambia, Tanzania, Kati
ABUJA/WASHINGTON (Reuters) - Secretary of State Antony Blinken on Tuesday said the United States is determined to remain a strong security partner for Nigeria, whose military is backed by the U.S., Britain and other allies in a long war against Islamist insurgents. "The United States is determined to be and remain a strong security partner for Nigeria," Blinken told reporters. Blinken added that he discussed how it is vitally important there be a focus on ensuring civilians are protected and humanitarian considerations. The coup in Niger was one of a series of military takeovers or attempted power grabs that occurred in West and Central Africa over the past three years. So far, about $2 billion of the backlog across sectors such as manufacturing, aviation, and petroleum have been paid, CBN spokesperson Hakama Sidi Ali said in a statement.
Persons: Antony Blinken, Blinken, Bola Tinubu, Mohamed Bazoum, Hakama Sidi Ali, Chijioke Ohuocha, Felix Onuah, Daphne Psaledakis, Humeyra Pamuk, Simon Lewis, Ismail Shakil, Mark Porter, Daniel Wallis Organizations: Islamist, European Union, France, Central Bank of Nigeria Locations: ABUJA, WASHINGTON, United States, Nigeria, U.S, Britain, Niger, West, Central Africa, Abuja, Africa, Cape Verde, Ivory Coast, Angola, Jan, Africa's, Washington
One client, a law firm partner, refused to consider Oyesanya's suggestion of alternative investments. AdvertisementBanking to wealthy law firm partners is a desirable niche. Law firm partners averaged $1.12 million in compensation in 2022 according to a survey by recruiter Major, Lindsey & Africa, and top partners in Big Law can make more than $10 million a year. Now global head of JPMorgan's law firm and professional services group, Oyesanya is up against a formidable rival: her former employer. AdvertisementShe plans to strengthen JPMorgan's law firm group with the same ethos: serving customers well to earn their loyalty and their referrals.
Persons: Bola Oyesanya, Oyesanya, Wells, , We're, Major, Jamie Dimon, Bola, Philip Waxelbaum, Waxelbaum, She, I've, what's Organizations: Citi, JPMorgan, Service, Banking, Big, Financial Times, Wells, Lagos Law School, Ogun University, City Trust Merchant Bank, Partners Locations: Nigeria, Wells Fargo, Lindsey, Africa, York
Reuters —Nigeria’s President Bola Tinubu on Tuesday called for a thorough investigation into a military drone attack that the state emergency agency in northern Kaduna state said killed at least 85 people at the weekend. The state’s governor, a religious leader and witnesses told Reuters on Monday that dozens of civilians were killed following the military drone attack that was targeting insurgents and bandits on Sunday night. The Kaduna State Emergency Management Agency said on Tuesday at least 85 people had died during the attack, giving the first official confirmation of the toll from the weekend incident. “The President directs a thorough and full-fledged investigation into the incident and calls for calm while the authorities look diligently into the mishap,” said Ngelale. The Nigerian Army is yet to comment on the incident but the Air Force has denied being involved in the mission that led to Sunday’s attack.
Persons: Reuters —, Bola Tinubu, Tinubu, Ajuri Ngelale, Organizations: Reuters, Emergency Management Agency, Zonal, Nigerian Army, Air Force Locations: Kaduna, Dubai, Tundun, United States, Britain, Abuja
DUBAI, Nov 30 (Reuters) - Britain's King Charles began a visit to the United Arab Emirates on Thursday, during which he will advocate for greater global action and accountability on climate change at the COP28 summit. It will be his first major speech on climate change since he became monarch in September 2022. After a year of record temperatures, the pressure is on for this year's summit to accelerate action to limit climate change. Countries, however, are divided over the future of fossil fuel - the burning of which is the main cause of climate change. [1/6]Britain’s King Charles arrives to meet the students at Heriot-Watt University Dubai, during the COP28 summit in Dubai, United Arab Emirates, November 30, 2023.
Persons: Britain's King Charles, Narendra Modi, Rishi Sunak, Joe Biden, Xi Jinping, King Charles, Alexander Cornwell, Sheikh Mohamed bin Zayed Al Nahyan, Sheikh Mohammed bin Rashid Al Nahyan, Simon Stiell, Bola Tinubu, Irfaan Ali, Watt, Barbara Lewis Organizations: United Arab Emirates, India's, Britain's, U.S, United Arab, Organization of, Petroleum, Heriot, Watt University Dubai, REUTERS, UAE Prime Minister, First Nations, Scottish, Thomson Locations: DUBAI, Gulf, Dubai, United Arab Emirates, United Arab, United Nations, British, UAE
New book reignites British royal race row
  + stars: | 2023-11-30 | by ( Michael Holden | ) www.reuters.com   time to read: +4 min
The couple declined to say which unnamed royal had made the remarks, although Winfrey later clarified it was neither the late Queen Elizabeth nor her husband Prince Philip. Harry, the younger son of King Charles, said in a subsequent 2023 TV interview, neither he nor Meghan had accused anyone in their family of racism. But a new book about the royals written by journalist Omid Scobie has brought the issue back to the fore, making front page news again Britain this week. KING IN DUBAIIn his TalkTV show on Wednesday, the royals allegedly involved were also named by British broadcaster Piers Morgan, a vocal critic of Harry and Meghan. Neither Buckingham Palace nor any of the royal family's offices have commented on the book, but the Daily Mail said officials were considering all options, including legal action.
Persons: Prince Harry, Duke of Sussex, Meghan, Duchess, Sussex, Meghan's, Oprah Winfrey, shockwaves, Archie, Winfrey, Queen Elizabeth, Prince Philip, Prince William, Harry, King Charles, Omid Scobie, Scobie, Charles, Xander Uitgevers, there's, Piers Morgan, Bola Tinubu, Buckingham, Michael Holden, Alison Williams Organizations: Mental Wellness, U.S, RTL, KING, DUBAI, Daily Mail, Thomson Locations: New York City, U.S, Buckingham, Britain, Dutch, British, Dubai
By Alexander CornwellDUBAI (Reuters) - Britain's King Charles began a visit to the United Arab Emirates on Thursday, during which he will advocate for greater global action and accountability on climate change at the COP28 summit. It will be his first major speech on climate change since he became monarch in September 2022. Other world leaders including India's Prime Minister Narendra Modi and Britain's Prime Minister Rishi Sunak are also expected to attend the talks. After a year of record temperatures, the pressure is on for this year's summit to accelerate action to limit climate change. Countries, however, are divided over the future of fossil fuel - the burning of which is the main cause of climate change.
Persons: Alexander Cornwell DUBAI, Britain's King Charles, Narendra Modi, Rishi Sunak, Joe Biden, Xi Jinping, King Charles, Sheikh Mohamed bin Zayed Al Nahyan, Sheikh Mohammed bin Rashid Al Nahyan, Simon Stiell, Bola Tinubu, Irfaan Ali, Watt, Alexander Cornwell, Barbara Lewis Organizations: Reuters, United Arab Emirates, India's, Britain's, U.S, United Arab, Organization of, Petroleum, UAE Prime Minister, First Nations, Scottish, Heriot Locations: Gulf, Dubai, United Arab Emirates, United Nations, British, UAE
By Hamza Ibrahim and Ahmed KingimiKANO, Nigeria (Reuters) - At least 150 people, including women and children, were abducted with one person killed in a coordinated attack by gunmen on four villages in Nigeria's northwest Zamfara state, residents said on Saturday. The Zamfara police spokesperson did not immediately respond to Reuters' request for comment on the attack, which took place late on Friday. Residents told Reuters that gunmen on dozens of motorcycles stormed the villages of Mutunji, Kwanar-Dutse, Sabon-Garin Mahuta and Unguwar Kawo in the Maru local government area of the state. Dankandai Musa, a resident of one of the villages, told Reuters he managed to slip away unnoticed during the chaos. "I managed to escape after they were regrouping us and the people from the three other villages that were attacked," he said.
Persons: Hamza Ibrahim, Ahmed Kingimi KANO, Garin Mahuta, Dankandai Musa, Lawali Damana, Bola Tinubu, Elisha Bala, Mark Potter Organizations: Reuters, Residents Locations: Nigeria, Nigeria's, Zamfara, Mutunji, Sabon
ABUJA, Nov 21 (Reuters) - Nigeria's lower house of parliament passed the medium-term expenditure framework for 2024-2026 on Tuesday, a set of assumptions that will be used to prepare the country's budget over the next three years. The naira last week briefly slumped to a record low of 1,105 against the dollar on the official market, bringing the official exchange rate within touching distance of the parallel market rate. The fiscal framework must also be passed by the upper chamber of parliament. Tinubu is also due to send the country's 2024 spending plan of 26 trillion naira ($34 billion) to parliament for approval. Below are some of the assumptions in the medium-term expenditure framework:Reporting by Camillus Eboh in Abuja Writing by Chijioke Ohuocha Editing by Alexander Winning and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.
Persons: Bola Tinubu's, firming, Camillus, Chijioke, Alexander Winning, Matthew Lewis Organizations: Thomson Locations: ABUJA, Tinubu, Camillus Eboh, Abuja
Union Bank of Nigeria and Germany's DWS Group signed a memorandum of understanding (MoU) on renewable energy. The agreement seeks to harness $500 million in investment in renewable energy projects across Nigeria, mostly in rural communities, spokesperson Ajuri Ngelale said in a statement. A second MoU on gas export partnership was agreed between Riverside LNG of Nigeria and Germany's Johannes Schuetze Energy Import AG. Under the accord, Nigeria will supply 850,000 tons of natural gas to Germany annually which is expected to rise to 1.2 million. Under Tinubu, Nigeria has embarked on the boldest reforms in decades, scrapping a popular petrol subsidy and lifting restrictions on foreign exchange trading.
Persons: Olaf Scholz, Bola Tinubu, Fabrizio Bensch, Ajuri Ngelale, Germany's Johannes, Ngelale, Tinubu, Elisha Bala, David Evans Organizations: REUTERS, Rights, Union Bank of Nigeria, Germany's DWS, Riverside, Germany's Johannes Schuetze Energy, AG, Africa, Thomson Locations: Africa, Berlin, Germany, Rights ABUJA, Nigeria, Riverside LNG, Tinubu
CNN —Liberia’s President, George Weah, has conceded defeat to opposition candidate Joseph Boakai after a tight run-off election. Weah, a former soccer star, called Boakai after the country’s National Elections Commission (NEC) released provisional results on Friday. Therefore, a few minutes ago, I spoke with President-elect Joseph N. Boakai to congratulate him on his victory. President Weah was voted into office in 2018 and will step down in January. A run-off was triggered when Weah, 57, secured a victory in an earlier October poll with a margin of just 7,000 votes over his political rival, Boakai.
Persons: CNN —, George Weah, Joseph Boakai, Weah, Joseph N, Boakai, , Bola Tinubu, Weah’s Organizations: CNN, Elections Commission, NEC Locations: Liberia, West, Central Africa, West Africa
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