A northern coalition known as the Northern Consensus Movement of Nigeria has threatened to blockade the transportation of food from the north to southern Nigeria. The provocative threat comes in response to a recent ultimatum by Yoruba activist Sunday Igboho calling for Fulanis to vacate southwestern Nigeria. Igboho issued the contentious demand after being released from prison last week. In a press conference on Thursday, the northern group’s president, Awwal Aliyu, condemned Igboho’s stance and vowed to stop any attempts to expel Fulanis from the southwest. He further warned that northerners would force Yorubas to evacuate the north if Igboho’s…
Author: Editor Francis
In today’s digital world, data has become one of the most valuable assets for individuals, businesses and governments alike. With the exponential growth of data being generated and collected, ensuring proper data protection is more crucial than ever. Recent years have seen a sharp rise in data breaches, exposing sensitive information of millions of people. According to a report, there were over 5,000 publicly disclosed data breaches in 2021 alone, compromising over 1.5 billion records. The increasing sophistication of cyber attacks has made traditional security measures inadequate. High profile breaches at companies like Yahoo and Equifax underscore the importance of…
Deputy Secretary of Commerce Don Graves expressed his excitement at the opening of the AGOA Private Sector Forum in Johannesburg, emphasizing the importance of the event and its role in fostering economic partnerships. Graves extended his gratitude to key figures, including Florie Liser and the Corporate Council on Africa team, British Robinson and the Prosper Africa Secretariat, Ambassador Brigety and the U.S. Mission in South Africa, and U.S. Trade Representative Ambassador Tai for her leadership on AGOA and other crucial U.S.-Africa trade priorities. Minister Patel and his team at the Department of Trade, Industry, and Competition were also commended for…
The National Drug Law Enforcement Agency (NDLEA) emphasises the critical importance of combating drug trafficking due to its detrimental impact on society. The Chairman and Chief Executive Officer (CEO) of the NDLEA, Brig. Gen. Buba Marwa (Rtd), conveyed this message during a visit to Governor Sheriff Oborevwori at Government House in Asaba. Marwa pointed out the alarming rise of hard drug use in Nigeria, with more than 15 million drug users aged between 15 and 64, as per a United Nations survey. He called for the state government’s support and cooperation in the fight against this issue. Attributing widespread social…
Relief may finally be coming the way of foreign airlines operating in Nigeria as the Central Bank of Nigeria (CBN) prepares to commence disbursement of over $800 million in proceeds trapped in the country. According to airline sources, many affected carriers have been contacted by the CBN to prepare for the release of funds that have been unable to be repatriated abroad due to Nigeria’s foreign exchange crisis. The exact amount to be disbursed and timeline remain unclear, but details are expected next week. The massive backlog of trapped airline funds in Nigeria was recently highlighted by Willie Walsh, Director…
In recent developments, it has been learned that the Central Bank of Nigeria (CBN) has taken significant actions to address the backlog of foreign exchange (forex) demands from banks and airlines. Reports from sources close to the situation indicate that financial institutions have acknowledged the clearance of their pending forex requests by the CBN. Likewise, airline operators have also noticed a substantial resolution of their outstanding forex needs. The exact source of the funds used to clear these backlogs remains uncertain at this point. However, it’s worth noting that the federal government had previously announced an initiative to resolve forex…
US President Joe Biden is calling for humanitarian pauses in the Israel-Hamas conflict that would involve a “temporary, localized” cessation of hostilities –- well short of a general ceasefire — a senior White House official said Thursday. At a campaign event on Wednesday Biden was urged by a member of the audience to call for a ceasefire in the war. Biden replied: “I think we need a pause.” Talking to reporters Thursday National Security Council spokesman John Kirby clarified what such a pause would entail. “A humanitarian pause… is temporary, localized and focused, focused on a particular objective or objectives,…
The Millennium Challenge Corporation (MCC) and the U.S. African Development Foundation (USADF), have formed a new partnership to empower women entrepreneurs and women-led small and medium enterprises (W-SMEs) in Africa. The collaboration was formalized through a Memorandum of Understanding signed on October 27, 2023. It aims to help W-SMEs access information, utilize digital tools and analyze business data to boost sustainability, competitiveness and resilience. In 2021, MCC, USAID and Microsoft launched the DigiFemmes program in Côte d’Ivoire to provide digital and data skills training to women entrepreneurs. Thousands of Ivorian women have participated. Under the new MCC-USADF partnership, USADF will…
British A. Robinson, Coordinator of the U.S. government’s Prosper Africa initiative, will join a high-level American delegation at the 20th annual African Growth and Opportunity Act (AGOA), Forum being held in Johannesburg from November 2-4. The forum brings together government, business and civil society leaders from the U.S. and sub-Saharan Africa to discuss strengthening trade and investment ties. Enacted in 2000, AGOA provides duty-free access to the U.S. market for over 6,800 products from eligible African countries. With AGOA set to expire in 2025, this year’s forum comes at a pivotal moment. Prosper Africa has launched new partnerships and initiatives…
In a statement from the White House, President Joe Biden expressed strong support for the reauthorization of the African Growth and Opportunity Act (AGOA). This bipartisan law has been a cornerstone of U.S. trade with sub-Saharan Africa for over two decades, and the President encouraged Congress to swiftly reauthorize and modernize AGOA to adapt to the economic opportunities of the coming decade. AGOA plays a crucial role in promoting private-sector-led economic growth across sub-Saharan Africa by enhancing the competitiveness of African products, expanding export diversity, and contributing to the creation of numerous high-quality jobs in Africa. Its positive impacts are…
The 23rd World Travel & Tourism Council Global Summit has commenced at the Kigali Convention Centre in Rwanda’s capital, Kigali. President Kagame officially opened the summit, which is taking place from November 1 to 3, and marks the first time an African country hosts this prestigious event. The summit has brought together industry leaders, experts, and figures like managing director Fawaz Farooqui and Julia Simpson, President and CEO of the World Tourism Network, to focus on the recovery and sustainability of the travel and tourism sector. Julia Simpson stressed the importance of sustainability and the sector’s resilience, emphasizing the need…
An individual company’s high P/E ratio, for example, would be less cause for concern when the entire sector has high P/E ratios. The earnings yield is also helpful when a company has zero or negative earnings. Since this is common among high-tech, high-growth, or startup companies, EPS will be negative and listed as an undefined P/E ratio (denoted as N/A). If a company has negative earnings, however, it would have a negative earnings yield, which can be used for comparison. This can be useful given that a company’s stock price, in and of itself, tells you nothing about the company’s…