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Australia State Unveils $42BN Energy Roadmap Renewable Energy Push

Australia’s New South Wales (NSW) state said on Monday (November 9) it would shift toward renewable energy from coal and aimed to lure A$58 billion ($42.2 billion) of private investment into the sector in the next decade.

Australia’s most populous state said it would cut red tape and speed up approvals for businesses to invest in renewable energy projects, with four of its five coal-fired power plants expected to close in the next 15 years.

The plans would create close to 10,000 jobs and aimed to bring 12 gigawatts (GW) of wind and solar power and 2 GW of storage, such as pumped hydro, online by 2030.

Most Australian states support greater use of renewable energy but the federal government has refused to match other developed countries in setting a target for net zero carbon emissions by 2050. Instead, Canberra says zero emissions will be reached some time after 2050.

Nigerian govt reacts to conviction of 6 in UAE for wiring $782,000 to Boko Haram

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The Chairman, Nigerians in Diaspora Commission, Abike Dabiri-Erewa, on Monday confirmed that six citizens of the country, have been convicted in the United Arab Emirates (UAE), for wiring $782,000 to insurgent group Boko Haram.

Dabiri-Erewa in a tweet thread named the suspects involved and their jail terms.

She said the convicts could approach the Supreme Court if they wished.

However, Dabiri-Erewa warned Nigerians all around the world, to desist from crime and criminality.

Biden Win Announcement Lifts World Stocks To Record Peak; Dollar Fades

World stocks hit a record high on Monday and the dollar stayed weak as expectations of better global trade ties and more monetary stimulus under U.S. President-elect Joe Biden supported risk appetite.

Markets started to trade on the prospect of a Biden presidency and a Republican-controlled U.S. Senate last week, but the Democratic candidate’s projected victory on Saturday gave more fuel to the move.

The MSCI world equity index, which tracks shares in 49 countries, rose 0.5% to a record high in early European hours. On Friday, it posted its biggest one-week gain in nearly seven months.

E-mini futures for the S&P 500 jumped more than 1.4% on Monday. Nasdaq futures rallied more than 2% to just under a record high, signalling a positive start for U.S. markets.

Solicitor General Explains N2bn Proposal For Prosecution Of Boko Haram, Others

The Solicitor General of the federation of the Federation, Dayo Apata on Monday told the Senate that the N2bn provision for prosecution of Boko Haram fighters and other offenders was but a tip of the iceberg for the kind of funding required to diligently prosecute cases across the country.

Mr. Akpata said this when he appeared before the Senate Committee on Judiciary and Human Right to defend the 2021 provisions.

Senate Spokesman and member of the committee, Senator Basiru Surajudeen sought explanation on a provision of N2b for prosecution while there are similar proposal for the sum N350m and N380m.

Basiru in his interrogation said “We need to know how much is being projected for civil litigation, how much is being projected for prisons decongestion all other items in that regards.

The third observation has to do with the what can be divided from the sum of about N2bn for designated items under overhead cost and some of the items listed under capital expenditure’

2021 budget should provide job opportunities for youths – Senate President, Lawan

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President of the Senate, Ahmad Lawan on Monday asked that the 2021 budget which is still being processed by the National Assembly be mindful of the rate of youth unemployment in the country.

Lawan spoke in Abuja against the backdrop of the recent End SARS protests in the country, at a public hearing organised by the Senate Committee on Agriculture on 2021 budget defence.

The Senate President said, with a practical and radical approach, the Agriculture sector would change Nigeria’s fortune.

The Senate President described the Agriculture sector as the “mother of all sectors” in the Nigerian economy and urged all stakeholders at all levels of government to accord it more attention.

INEC chief begins five-year second term today

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Affter five years tenure, the Chairman of the Independent National Electoral Commission, Prof. Mahmood Yakubu, will on Monday (today) begin a fresh term.

He was reappointed by President Muhammadu Buhari making him the first INEC chairman to have his tenure extended by another five years.

Yakubu will be handing over to himself at a ceremony to be conducted at the Conference Room of INEC in Maitama area of Abuja.

Since the onset of presidential system of government 41 years ago in 1979, Nigeria has had nine chairmen of the electoral umpire under different names, including Federal Electoral Commission popularly known as FEDECO; National Electoral Commission; National Electoral Commission of Nigeria and INEC in succession.

The chairmen were Michael Ani, Victor Ovie-Whiskey, Eme Awa, Humphrey Nwosu, Ephraim Akpata, Abel Guobadia, Maurice Iwu, Attahiru Jega, and Yakubu.

Opinions had however been divided on the reappointment of Yakubu for another five years.

Total AFCON Cameroon 2021 Qualifiers: Essential guidelines for resumption of competitions and gradual return to the stadiums

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The CAF Emergency Committee validated on Friday the specific measures for the resumption of Days 3 & 4 matches of Total Africa Cup of Nations Cameroon 2021 ™ Qualifiers.

These rules issued by the Organizing Committee for the African Cup of Nations, in accordance with the FIFA rules of the game, relate in particular to the conditions for holding matches, the number of authorized substitutions and the conditions for postponement or cancellation of matches.

Only the cases not provided for by these special COVID-19 rules and in the competitions regulations would be considered as exceptional cases, which would be decided by the Organizing committee of the competition.

Game and players

•      Each match must be played if the team has at least eleven (11) players (including a goalkeeper) and four (4) substitutes.

•      If a team cannot travel to the host country and/or venue of a match due to any travel or other restriction relating to COVID-19, the team in question will be considered to have lost the match 2-0.

•      If a team does not have the minimum number of players required, at least eleven (11) players (including a goalkeeper) and four (4) substitutes), the team in question will be considered to have lost the match 2-0.

•      The number of authorized substitutions is limited to five (5) players per team. Each team will have three opportunities to make these substitutions during the match.

Spectator attendance

•      According to CAF’s COVID-19 protocol, all matches must be played behind closed doors, without spectators.

•      However, if the government of the host Association wants spectators to be present, then the Association in question will need to obtain CAF’s approval.

In the event of exceptional situations other than those mentioned above, the Organizing Committee will be consulted for a final decision.

The objective of the emergency measures is to supervise the resumption of football on the continent, by defining a plan which places an emphasis on the players and the game. These specific rules may be revised according to developments of the health situation in the world and specifically on the African continent.

Saudi Eases ‘Slave-Like’ Restrictions On Domestic Workers

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Tales of Kenyans being subjected to inhumane treatment in Saudi Arabia may soon fizzle out after the country withdrew stringent restrictions on migrant workers.

The relaxation of labour restrictions, announced on Wednesday by Saudi Arabia’s Human Resources Deputy Minister Abdullah bin Nasser Abuthunain, is part of reforms spearheaded by Crown Prince Mohammed bin Salman.

The reforms, which are expected to take effect from next March, are meant to boost the competitiveness of the Gulf kingdom as a labour destination.

The Islamic country has more than 10 million foreign workers, predominantly from poor African and Asian countries.

Saudi Arabia operates under the oppressive ‘kafala’ system, which forbids migrant workers from changing jobs or leaving the country without the employer’s consent.

Myanmar’s Suu Kyi’s Party Claims Victory As Vote Tally Shows Lead

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Myanmar’s ruling party on Monday said it had won enough seats in parliament to form the next government after reporting a lead based on its unofficial count of votes in the country’s second general election.

Party spokesman Myo Nyunt told News Correspondents that internal reports showed the National League for Democracy (NLD), led by Aung San Suu Kyi, had won the 322 seats in parliament needed.

Although no official results had been announced by the election commission which is expected to announce official results later on Monday.

Sunday’s election was seen as a referendum on the young democratic government led by Suu Kyi and the NLD, which is hugely popular at home but has been criticized overseas amid allegations of genocide against the Rohingya Muslim minority.

Up for grabs in the election are 315 seats in the 425-member lower house and 161 seats in the 217-seat upper house of parliament.

The military, which ruled Myanmar for nearly 50 years until it began withdrawing from civilian politics in 2011, controls a quarter of seats in both houses of parliament.

Crude oil prices on steroids, gains 10% per barrel

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Brent crude prices were up about 9.25%, breaking out of its strong resistance level of $43/Barrel.

Crude Oil prices advanced to about 10% at the pre-open of the U.S trading session, over news that a COVID-19 vaccine is in play and more stimulus packages would boost a global fragile economy – sparking a buoyant mood across energy markets.

At the time of writing this report, Brent crude prices were up about 9.25%, breaking out of its strong resistance level of $43/Barrel, and West Texas Intermediate gaining over 10% to trade over 40.90/Barrel.

Also, OPEC energy ministers talked openly about the possibility of adjusting their oil-cuts deal, the latest signal that OPEC+ is reconsidering plans to hike production in January.