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U.S. Invests $160m On AfCFTA, Trade Facilitation

By
Rhoda Onuzulike
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The United States (U.S.) government said it has contributed $160 million to support the African Continental Free Trade Area (AfCFTA) and expand trade in goods and services between the U.S. and Africa.

The United States Mission Commercial Counselor to Nigeria, Julie LeBlanc, stated this in her keynote address at the Business Day Africa Trade and Investment Summit titled: “AGOA, AfCTA, top U.S. programmes and priorities for Africa and Nigeria,” held in Lagos.

The theme of the summit was “Reimagining Economic Growth in Africa.”

LeBlanc said this funding supports the development of digital trade and investment protocols as well as stakeholder engagement across Africa and trade facilitation efforts with a focus on expanding trade in goods and services and supporting the Women and Youth Protocol of the AfCFTA.

According to her, the U.S. Mission to Nigeria is particularly optimistic about the future of U.S.-Africa Continental Free Trade Area Memorandum of Understanding and investment relations as she also stated that the U.S. supported and finalised 547 new deals worth $14.2 billion in two-way trade and investment with Nigeria and other African countries in 2023.

LeBlanc said this marked a 60 per cent increase in both the number and value of deals compared to 2022 and has led to tangible benefits for both American and African communities, thereby creating inclusive growth, supply chain resilience, and quality jobs.

LeBlanc further stated that with two-way trade exceeding $10.6 billion in 2022 and U.S. foreign direct investment totaling $5.6 billion, Nigeria stands as the U.S.’ second-largest trading partner in Africa.

LeBlanc said the U.S. has significant investments in Nigeria’s tech ecosystem with collaborative efforts to tackle global challenges in education, healthcare, agriculture, and other key areas.

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According to her, Nigeria is one of Africa’s largest economies with the vital roles it plays in regional and global markets, recognised by the United States.

The United States is deeply committed to its role as a steadfast economic and commercial partner to African nations and its dedication to enhancing security partnerships, health initiatives, and economic development in the region, she added.

LeBlanc also stated the U.S.-Trade and Development Agency’s facilitation of 15 project preparation grants, leveraging more than $3.4 billion in infrastructure finance.

She further listed the Department of Commerce’s promotion of nearly $3.6 billion in U.S. exports to Africa, along with new bilateral commercial dialogues and the establishment of new Foreign Commercial Service offices.

NNPCL To Complete Warri Refinery Q1

By
Rhoda Onuzulike
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The mechanical completion of the Warri Refining and Petrochemical Company is scheduled for completion in the first quarter of this year, the Nigerian National Petroleum Company Limited has said.

The Warri Refining and Petrochemical Company, WRPC, located in Delta State and established in 1978, is one of Nigeria’s three refineries under the management of NNPCL.

The other two include the Port Harcourt Refining Company in Rivers State, and the Kaduna Refining and Petrochemical Company in Kaduna State. Rehabilitation work is also ongoing at both facilities.

The Warri refinery is a complex conversion refinery with a capacity to refine 125,000 barrels of crude oil per day. The facility includes a petrochemical plant (established in 1988) producing polypropylene and carbon black.

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It supplies petroleum products to southern and south-western Nigeria, but is not producing refined products currently due to the rehabilitation of the facility by the Federal Government.

However, in a brief response to an enquiry by our correspondent with regards to when the plant would be mechanical completed, the Chief Corporate Communications Officer , NNPCL, Olufemi Soneye, state that target was to have it sorted in the first quarter of this year.

“Warri should be done by Q1 (first quarter) 2024,” he stated.

CBN Adopts New Cash Reserve Measure

By
Rhoda Onuzulike
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The Central Bank of Nigeria has said that it is stopping daily Cash Reserve Ratio debits and will be adopting an updated Cash Reserve Requirement mechanism.

The CBN noted that the move is intended to facilitate banks’ capacity for planning, monitoring, and aligning their records with the apex bank.

The CBN made this known in a circular titled ‘Cash Reserve Requirement Framework Implementation Guidelines’ signed by its Acting Director, Banking Supervision Department, Dr Adetona Adedeji, on Friday.

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The percentage of cash required to be kept in reserves as against the bank’s total deposits is called the Cash Reserve Ratio.

The implementation of the new Cash Reserve Requirement framework will follow a structured process, as outlined by the CBN.

The statement read, “The determination of the segment of deposits subject to sterilisation with the CBN as CRR will follow the processes outlined below:

“Phase 1 – Utilisation of the Incremental Approach: The extant ratios (commercial banks 32.5% and merchant banks 10%) will be applied to increases in the banks’ weekly average adjusted deposits.

“Phase 2 — CRR levy of 50% of the lending shortfall will be enforced for banks that do not meet the minimum Loan to Deposit Ratio (LDR) as per our correspondence to all banks referenced BSD/DIR/GEN/LAB/12/049 dated September 30, 2019.”

The CBN added that it will provide banks with details of the applied charges and their underlying computation rationale.

Senegalese Sy To Take Charge Of Nigeria, Angola Duel

By
Emenike Agu
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Senegalese official Issa Sy will be the referee when Nigeria take on Angola in Friday’s Africa Cup of Nations quarter-final encounter at the Stade Félix Houphouët-Boigny in Abidjan.

Sy will have compatriots Djibril Camara and Nouha Bangoura in tow as assistant referee 1 and assistant referee 2 respectively, alongside Mauritanian official Abdel Aziz Bouh as fourth official.

Modibo Samake from Mali will serve as reserve assistant referee, while Ahmad Nazeer Hossen Bowud from Mauritius and Ali Mohamed Ahmed from Somalia will be in the roles of commissioner and referee assessor respectively.

The match, which will commence at 5pm Cote d’Ivoire time (6pm Nigeria time) will be another of the rare occasions that Nigeria and Angola tango on the turf, with few clashes between both nations at senior level over the years.

Nigeria edged Angola to reach the final round of the qualification series for the 1990 FIFA World Cup finals (2-2 in Luanda and 1-0 in Lagos), but the Angolans stepped on Nigeria to make their single appearance at the FIFA World Cup finals, when they won 1-0 in Luanda and held the Eagles 1-1 in Kano to edge the head-to-head contest that was the determining factor for the 2006 FIFA World Cup qualification series.

Angola First Choice Goalkeeper, Neblú To Miss Nigeria Quarter-Final Tie

By
Emenike Agu
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When Angola take on Nigeria on Friday in the first of the quarter-finals of AFCON 2023, the team will be without their first choice goalkeeper, Adilson Cipriano da Cruz who goes by the nickname, Neblú.

He was dismissed in Angola’s Round of 16 duel with Namibia.

Neblu was sent off after just 17 minutes after handling the ball outside his area.

He was to miss two matches which has now been reduced to one. The reduction was on the premise that the dismissed goalkeeper merely handled the ball outside his area and did not constitute violent conduct or jeopardize the physical integrity of an opposing player.

We Are Not Afraid Of Nigeria – Angola Midfielder Manuel Cafumana 

By
Emenike Agu
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0

Angola midfielder, Manuel Cafumena says the Palancas Negras are not afraid of the Super Eagles of Nigeria whom they face in the 2023 Africa Cup of Nations (AFCON) quater-final.

Nigeria and Angola will lockhorns in the first quater-final game of the 2023 Africa Cup of Nations tournament on Friday, Febuary 2, 2024 by 6pm.

Cafumena says the Palancas Negras are not scared and are determined to face the challenge posed by the Nigerian team.

In a press conference held at the Palacais de la culture in Trechville, Abidjan, Cafumana acknowledged the Super Eagles are one of the best teams on the continent and highlighted their hunger to win the competition.

Despite recognizing the formidable reputation of the Nigerian team, he reassured that Angola is not afraid, emphasizing that it will be eleven players against eleven players on the field.

Cafumena also mentioned the team’s preparation for the upcoming game, stating their commitment to making their families and nation proud. The midfielder’s remarks reflect the team’s positive mindset and determination to compete against a strong opponent in their quest to lift the AFCON trophy.

He said: ” “They are one of the best teams on the continent. They are also one of the past winners and are hungry to win the competition.

“We are not afraid of them though. It is going to be 11 players going against another 11 players.

“We have prepared well for this game. We want to make our families and nation proud.”

Barcelona Has a Special Place In My Heart – Asisat Oshoala After Bay Fc Switch

By
Emenike Agu
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In a farewell message shared on Instagram on Thursday, after her switch to Bay FC, Asisat Oshoala said FC Barcelona will always have a special place in her heart.

The CAF Women’s Footballer of the Year wrote: ”As I bid farewell to this incredible team and the city that has been my home for the past 5 years, I am filled with mixed emotions. It has been an absolute honour and privilege to wear the FCB Femeni jersey and represent this prestigious club.

“Since joining the team in 2019, I have had the opportunity to be a part of some of the most memorable moments in the club’s history. Together, we have lifted several trophies, and these achievements are a testament to hard work, and dedication and I feel privileged to have been a part of this team.

“But beyond the trophies and accolades, what I will cherish most are the relationships I have built with some of my teammates, coaches, staff, and amazing fans. You have become my family, and I will forever be grateful for the love and support you have shown me.

“As I embark on a new journey, I want you to know that FCB Femeni i will always hold a special place in my heart. I will carry with me the memories, lessons, and friendships that I have gained during my time here.

“Thank you for everything, FCB Femeni. You have given me more than I could have ever imagined, and I will always be a proud representative of this incredible club.

“With love and gratitude, Asisat Lamina Oshoala.”

The 29-year-old has signed a 2-year-old with Bay FC with an option for another year, after spending five years at the Spanish side winning 12 trophies during her time at the club.

Official: Asisat Oshoala Joins Bay FC From Barcelona

By
Emenike Agu
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0

Asisat Oshoala bids Farewell to FC Barcelona Femini as she joins US National Women’s League team, Bay FC, as announced on Thursday, Febuary 1, 2024.

Nigerian forward Asisat Oshoala, has officially departed from Spanish club FC Barcelona Femini to join the US National Women’s League team, Bay FC.

Barcelona confirmed Oshoala’s move in a statement released on Thursday, expressing gratitude for her contributions during her time with the club.

The statement read, “An agreement has been reached between FC Barcelona and Bay FC from the National Women’s Soccer League in the United States of America for the transfer of Nigerian striker Asisat Oshoala, whose contract was set to end on 30 June 2024. The Club appreciates Asisat’s commitment and professionalism over the five-year period she wore the Barca jersey.”

Reigning Africa Women’s Player of the Year, Oshoala joined FC Barcelona Femini in 2019, making a significant impact during her tenure and winning a total of 14 trophies with the Blaugrana.

The Nigerian striker’s departure marks the end of a five-year period with FC Barcelona, and her accomplishments have left an indelible mark on the club.

The move to Bay FC in the National Women’s Soccer League presents a new chapter in Oshoala’s career, offering her the opportunity to showcase her skills and make an impact in the highly competitive American league.

As she embarks on this new journey, fans eagerly anticipate her contributions to Bay FC and her continued success on the global stage of women’s football.

Teachers Threaten To Boycott Classes Of Over 100 Pupils In Mozambique

By
Nzubechukwu Anodo
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0

Teachers in the Mozambican National Education System are threatening not to work with classes of over 100 pupils in the same room, since overcrowding has been harming the quality of education.

The teachers’ intention was announced during a march held in Maputo, days before the start of the 2024 school year.

The teachers are demanding the end of classes in the open, payment of overtime allowances, as well as a reduction in the number of pupils in above-average sized classes.

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One teacher said If we have classes with over 100 pupils this school year, we will make a point of splitting the list and the government will decide what to do with the other part.

The payment of the overtime allowance is also one of the main demands, since only teachers from three schools have benefited from it, following a promise made by the Education Ministry.

The teachers are also talking about the adoption of a series of measures to improve the quality of teaching in the country, which includes increasing levels of educational achievement.

According to Abel das Neves, representing the NGO, the Education for All Movement, the Ministry of Education’s position on the existence of undue overtime payments is dubious.

Das Neves said if the hours presented by teachers are not correct, the Ministry should present the right ones. You can’t say that something is wrong without presenting what is right.

Das Neves added that it is dangerous for the 2024 school year to begin with dissatisfaction on the part of the teachers and if the teachers carry out their threats, the effects will be devastating for the pupils.

There should be clearer communication. The teachers have already submitted several demands, there have been meetings with the Education Ministry and the promises made are not being kept, he said.

U.S. Delivers 66 Schools For Students In Rural Malawi

By
Nzubechukwu Anodo
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0
Nelia Phiri, 18 years intercating with her teacher in form 4 class at Mpamba CDSS

The U.S. government has handed over 66 secondary schools that it built for students in rural Malawi under the USAID-funded Secondary School Expansion for Development project, or SEED.

The project is a partnership of the U.S. government through the United States Agency for International Development and the U.S. President’s Emergency Plan for AIDS Relief.

Deputy ambassador at the U.S. Embassy in Malawi, Amy Diaz said the $90 million project started in 2019 with an initial plan to build 200 schools across Malawi.

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He said that the number was reduced to 89 because of the onset of the COVID-19 pandemic, which created many challenges, including a rise in the cost of building materials.

When the costs increased, we worked with the ministry of education to narrow down the new school construction sites to the areas of greatest need in each district. With a handover of 66 schools today, we are on track to complete construction of 89 new rural schools by the end of this year, Diaz said.

About 27,000 students will now have access to secondary school education.

The new schools have reduced the distance many learners have to walk to get to classes, with some living 10 kilometers away.

President Lazarus Chakwera presided over the televised handoff ceremony in the Salima district of central Malawi.

He called the event a milestone in Malawi’s partnership with the U.S.

He said a partnership that produces 66 brand new secondary schools, serving communities across 20 districts, is no ordinary partnership.

Education analysts say it is Malawi’s government that needs to improve the quality of education and stop vandalism of public schools.

Several government secondary schools were closed recently due to vandalism by angry students.

Kondowe said he also hopes construction of the new schools will help reduce unemployment among teachers, who have long held protests pushing the government to hire them.

Chakwera said his administration will recruit 5,000 secondary school teachers following the construction of the U.S.-funded schools.

This is why my administration has invested heavily by expanding the teacher base by increasing the teaching staff by 50%, adding 13,000 teachers to the staff roll,” he said. “Apart from increasing the quantity, we also want to increase the quality of teaching. And that includes improving the condition of service for teachers and school administrators.

President of the Teachers Union of Malawi, Willie Malimba said 5,000 teachers are just the tip of the iceberg in a country with a massive shortage of professional educators, and that existing schools may remain understaffed.

If those 5,000 teachers are adding up to already existing secondary schools, we could say at least it’s a little bit better,” Malimba said. “But now, we are going to have 66 additional secondary schools. This means these 5,000 will be directly absorbed by the 66 additional secondary schools. Which means shortfalls that are already there in some secondary schools, they are still there.

The education ministry has announced plans to add more structures to the newly constructed secondary schools, including a laboratory block, a library, eight teachers’ houses and an administration section.

It says this is in line with the newly introduced minimum package required for the country’s secondary school infrastructure.

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