Despite the global pandemic, Ivory Coast has been able to raise 5.8 billion euros ($6.4 billion) for the proposed development of its tourism sector. With the money raised, the Ivorian government plans to renovate certain emblematic buildings, build many hotels on the coast and inland, several wildlife, water and amusement parks, a marina in Abidjan, […]Read More
Currently, in Angola, only one-third of the population has access to electricity under good conditions, this is why the government of Angola is seeking to increase access to electricity for its population. The government in Angola is looking to create a 60% electricity access rate by 2025. “The objective is, firstly, the modernization and extension […]Read More
On Saturday, February 20, 2021, Nigeria’s Minister of Foreign Affairs, Geoffrey Onyeama was quoted saying the president of Benin was open to joining Nigeria as its 37th state. “The President of Benin said as far as they are concerned, they want (not just saying it like that) but in reality, Benin should be the 37th state […]Read More
The Office for National Statistics (ONS) said the UK economy shrunk by a record 9.9% last year as coronavirus restrictions hit economic output. The report showed that the contraction in 2020 “was more than twice as much as the previous largest annual fall on record”. However, towards the end of the year, the economy experienced […]Read More
The Labor Department has said the unemployment rate in the US fell to 6.3%, down 0.4 percentage points from December. Despite the steady economic growth, the US economy has only been able to add only 49,000 jobs in January leaving the country about 10 million jobs short of where it stood in February 2020, before […]Read More
Following CBN’s ban of crypto trading in Nigeria, Nigerian senators have reacted with a majority arguing against the ban. However, Senator Sani Musa of the Niger East Senatorial District argued for the ban insisting that Bitcoin was responsible for the naira’s decline rather than mounting foreign debt, decades of poor economic policies, and corruption. According […]Read More
The sum total of N604 billion was disbursed by the Federation Account Allocation Committee to the three tiers of government in November 2020. This is according to the FAAC report for the month of November 2020, released by the National Bureau of Statistics (NBS). According to the report, the monthly disbursement declined by 5.6 percent […]Read More
The World Bank has forecasted the number of Nigerians living below the poverty level may hit 100 million by 2022, a 20 million increase of the current figure. Gloria Joseph-Raji, World Bank senior economist, made this known while speaking on Tuesday at the launch of a 2021 macroeconomic outlook report by the Nigeria Economic Summit […]Read More
Under the command of the outgoing service chiefs, the deaths per day from the Boko Haram insurgency grew to a peak of 233%. In May 2015, a new commander in chief assumed the command of the Nigerian army with the country reporting death per day in the Boko Haram war at 767; this casualty steadily […]Read More
The International Monetary Fund has said Nigeria’s recovery from the impact of the COVID-19 is expected to be weak and gradual under current policies. IMF added that the country’s real Gross Domestic Product is expected to recover to its pre-pandemic level only in 2022. In the report titled “IMF executive board concludes 2020 Article IV […]Read More
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