Author: Akintayo Adams

The International Monetary Fund (IMF) reported on Tuesday that global public debt is projected to reach a staggering $100 trillion in 2024, indicating a worsening fiscal outlook for many nations. According to the latest fiscal policy report, global public debt is expected to hit 93 percent of the global gross domestic product (GDP) this year and could approach 100 percent by 2030, marking a 10 percentage point increase from 2019, prior to the onset of the Covid-19 pandemic. Era Dabla-Norris, the deputy director of the IMF’s Fiscal Affairs Department, highlighted the seriousness of the situation, stating, “Global public debt is…

The IMF’s executive board approved a $1.1 billion disbursement for Ukraine on Friday to support the country’s budget amid ongoing conflict. This funding is part of a 4-year, $15.5 billion program initiated last March, and it marks the latest tranche in the series of loans aimed at stabilizing the war-torn nation. With this approval, the total funds disbursed to Ukraine since the program’s inception have reached $8.7 billion. IMF Managing Director Kristalina Georgieva highlighted the significant social and economic impact of Russia’s war on Ukraine, noting that despite the ongoing conflict, the country has maintained macroeconomic and financial stability through…

The Academic Staff Union of Polytechnics (ASUP) has given the Federal Government a 15-day ultimatum to address pressing issues hindering the smooth operations of polytechnics and mono-technics in Nigeria or risk facing an extended industrial action. During a press briefing at the Plateau State Polytechnic, Barkin Ladi, Plateau State, ASUP Zonal Coordinator for Zone B, Lumpye Simji, outlined the key concerns raised at the national executive council’s last meeting. These concerns revolve around governance challenges in public polytechnics, including violations of the Federal Polytechnics Act, improper appointments of principal officers, and failure to review the suspended “Scheme of Service for…

Fit-again Victor Osimhen has been included in Galatasaray’s squad for their Turkish Super Lig match against Antalyaspor this weekend. The 25-year-old striker returned to full training after recovering from a muscle injury he sustained in last month’s 3-3 draw against Kasimpasa. Osimhen has already contributed two goals in four league appearances this season. Galatasaray, currently leading the league with 22 points from eight matches, will face 14th-placed Antalyaspor, who have eight points. Get instant and latest news updates via Our WhatsApp Community, X/Twitter or Google News online channel.

The naira appreciated by ₦59.71 against the dollar, reaching ₦1600.78 per dollar on Friday from ₦1660.49 the previous day, according to FMDQ data. This came as foreign exchange transactions increased from $330.18 million on Thursday to $350.72 million on Friday. Despite this recent gain, the naira has fluctuated throughout the week, appreciating twice and depreciating thrice. At the parallel market, however, the naira weakened to ₦1725 per dollar from ₦1705. Central Bank Governor Olayemi Cardoso has suggested that a weaker naira could benefit Nigeria with sufficient investment. Get instant and latest news updates via Our WhatsApp Community, X/Twitter or Google News online channel.

Nigeria’s national grid has collapsed again. The latest collapse occurred early Saturday morning, with many states reporting total blackouts. Data Nigerian System Operator’s portal (niggrid.org) revealed that the grid recorded zero megawatts (MW) as of 9.20am today. This latest failure follows Monday evening’s collapse, and another barely 24hrs later which caused power generation to drop to zero, leaving the country in total blackout. Businesses and households continue to suffer over the nation’s unreliable electricity supply amid the high cost and unavailability of fuel. Get instant and latest news updates via Our WhatsApp Community, X/Twitter or Google News online channel.

The Jigawa State Commissioner for Special Duties, Auwal Sankara, has been arrested with a married woman in an uncompleted building in Kano State. The commissioner’s arrest was confirmed by the Kano State Hisbah Board Director General, Abba Sufi, on Friday, October 18, 2024. He said the arrest was made possible through intelligence tracking after receiving a series of complaints about his relationship with the married woman. Sufi said: “We have arrested Auwal Danladi Sankara, the Jigawa Commissioner, with a married woman in an uncompleted building that belongs to him, unknown to him that we were tracking him based on reports…

While pictures often represent treasured memories, especially from travel and adventure, taking them is sometimes restricted or banned in certain locations. This can be due to security, privacy concerns, cultural or religious reasons, or to protect sensitive environments. Some sites, including religious landmarks, military areas, and certain museums or galleries, prohibit photography to maintain the integrity of the space or respect local customs. Read || English Words with Nigerian and African Origin Hence, below are four places where taking pictures is illegal. The Sistine Chapel, Vatican City (Rome) The Vatican’s Sistine Chapel, home to Michelangelo’s iconic frescoes, enforces a strict no-photography rule…

Cuba is in the process of restoring power after a nationwide blackout caused by the sudden failure of the Antonio Guiteras power plant, the country’s largest. The government shut schools and non-essential services to conserve electricity, sending most state workers home. The blackout worsens the already difficult living conditions in Cuba, where residents face shortages of essentials like food and medicine. Efforts to bring five oil-fired plants back online are underway, but life across the island remains disrupted. Get instant and latest news updates via Our WhatsApp Community, X/Twitter or Google News online channel.

Rivers State Governor, Siminalayi Fubara, has approved a new minimum wage of ₦85,000 for civil servants under the employ of the Rivers State Government. This was after a closed-door meeting with labor representatives. Implementation will begin in November 2024, with a technical committee set to address wage arrears. Dr. George Nwaeke, the state’s Head of Civil Service, praised the decision, stating civil servants “never had it this good.” “He, Gov Fubara has pronounced a figure that is higher than the National Minimum Wage. He pronounced a sum of ₦85,000.00, which is higher than the minimum wage that was prescribed nationally,”…