Africa Business Radio

The Federal Government has spent at least $29 million to procure the Johnson and Johnson COVID-19 vaccines in the country. The Minister of Health, Osagie Ehanire, says they have procured Johnson and Johnson, about 40 million doses, at about $29 million. He equally reacted to the fears posed by the spread of the new Omicron coronavirus variant, calling on countries to join hands to confront the new health challenge in the world. Ehanire says the Omicron variant has not been classified as deadly and there has not been any case of fatality nor severe illness reported yet.

The Minister of Health, Dr Osagie Ehanire, has expressed disappointment over the United Kingdom government’s placement of Nigeria on its red list following the detection of the COVID-19 Omicron variant.  The minister says, there are many ways to manage the COVID-19 and not much is still known about the Omicron variant. He says the move was ill-advised as he noted that it would have multiple impacts on commerce, and disrupt activities during the Christmas and New Year festivities.

Major oil producers decided to keep raising output levels in January, despite the Omicron coronavirus variant raising fresh questions over demand. The OPEC+ alliance led by Saudi Arabia and Russia had so far resisted US-led pressure to significantly boost output to rein in surging energy prices. The 13 members of the Vienna-based Organization of Petroleum Exporting Countries and their 10 allies decided to stick with a modest increase in output of 400,000 barrels per day every month, as they have been doing since May. Commodities economist Edward Gardner from Capital Economics says they suspect that the US-led coordinated release of oil reserves was one reason why OPEC+ decided to push ahead with their plan to raise oil output noting that the group might not want to provoke further action from the large oil consumers.

The IMF urged advanced economies in the G20 to extend and improve its debt relief initiative, warning that many countries face a dire crisis without the help. IMF chief Kristalina Georgieva says they may see an economic collapse in some countries unless G20 creditors agree to accelerate debt restructurings and suspend debt service while the restructurings are being negotiated to add that it is critical private creditors also offer relief. She says the G20 Debt Service Suspension Initiative expires at the end of the year, and without a renewal, countries could face financial pressure and spending cuts just as new Covid-19 variants are spreading and interest rates are expected to rise.

Brazil’s economy, the largest in Latin America, slid into recession in the third quarter of the year as agricultural production dropped. Brazil’s government statistics agency IBGE says GDP declined 0.1 per cent for the second straight quarterly fall, The drop in the second quarter was revised to a larger 0.4 per cent from the initial estimate of 0.1 per cent compared to the previous three months. The agency says the economy grew four per cent while Farm production fell 8.0 per cent in the third quarter, while manufacturing was flat and the services sector grew 1.1 per cent.

The UN high commissioner for human rights Michelle Bachelet has called for an investigation into human rights violations in Burkina Faso. Ms Bachelet asked to ensure those violating human rights are brought to justice. She opened a UN rights office in the capital Ouagadougou to monitor the situation. Security forces have in the past been accused of human rights violations while fighting militants in the country.

The United Nations says Botswana has taken a significant step towards eliminating mother to child transmission of HIV. The World Health Organization and UNAIDS described the progress as a huge accomplishment for a country that has one of the most severe HIV epidemics in the world. The WHO says thanks to visionary political leadership, the southern African country had demonstrated that an AIDS-free generation was possible. It says improved antenatal care and the provision of anti retroviral treatment to pregnant mothers had played a key role.

Sudan’s military leader Gen Abdel Fattah al-Burhan has called for the United Nations to support the transitional government. Gen Burhan met the UN special representative to the country, Volker Perthes, who said that despite welcoming the deal for a return to constitutional order, other critical steps need to follow without elaborating. Gen Burhan says he will co-operate with reinstated civilian Prime Minister Abdalla Hamdok and support the transitional government he forms until elections are held. The UN Secretary-General António Guterres and the African Union Commission chairperson Moussa Faki have urged the public to support the deal for the return to a peaceful democracy.

The Minister of Health Dr Osagie Ehanire says the federal government was currently pushing for a law on a mandatory health insurance scheme in Nigeria, as part of reforms as well as to revolutionise funding in the sector. The Minister says the government was implementing innovative digital health technology reforms and building a network of National Primary Health Care centres across the country to take healthcare delivery to the grassroots. Ehanire says models of the new Primary Healthcare Centres designs had been sent to all state governors adding that each PHC would have staff quarters, assured water supply, solar-powered aggregates and a sound complement of human resources for health. He says that PHCs are the most important building blocks of the country’s health system and should be prioritised by all states as the platform attain Universal Health Coverage.

The House of Representatives has ordered an immediate investigation into debts totalling N2.6 trillion allegedly owed the Federal Government by oil and gas companies operating in the country. A report by the Extractive Industries Transparency Initiative says from the failure of the firms to remit Petroleum Profit Tax, Company Income Tax, Education Tax, Value Added Tax, Withholding Tax, Royalties, Penalties and Concession on rentals to the Federal Government. The House raised an Adhoc committee to investigate the matter after the lawmaker representing Lere Federal Constituency of Kaduna State, Rep. Ahmed Munir, brought it up the floor through a motion on notice. He says that if debts are recovered, the money could be used to service some of the Federal Government’s debts as well as fund up to 16.2 per cent of the 2022 budget deficit.

The Nigerian Civil Aviation Authority has issued authority to Anambra State Government to open the international cargo and passenger airport for commercial operations with effect from 2nd December 2021. The aviation authority says that it has received security clearance from relevant security agencies for the opening. They stated that the negative security clearance was the reason the authority had declined approval for the opening of the airport on the 30th of October 2021, when the state government had scheduled the commissioning. Anambra State Commissioner for Works, Mr Marcel Ifejiofor, commended the efforts of Governor Obiano who never relented even while on vacation to ensure that the Anambra airport becomes operational ahead of the Christmas 2021 mass return of the people of Anambra living in the diaspora, and other visitors.

The Speaker of the House of Representatives, Femi Gbajabiamila, has expressed optimism about the inherent gains in the Nigerian-South Korean Parliamentary Friendship group. Gbajabiamila noted that the robust existing bilateral relationship between the two countries was an indication of positive parliamentary gains for both countries. The Speaker also expressed hope that the group would usher in a new vista of opportunities for growth and development for both countries. Amb. Young-Chae informed the Speaker that South Korea was desirous of improving on its existing economic and technological activities in Nigeria. He added that an impressive number of Nigerians were working and contributing to the South Korean economy.

Emirates Airlines will resume its passenger operations between Dubai and Nigeria on 5th December 2021. The United Arab Emirates carrier made this known via a statement issued on Thursday. The resumption of services comes 10 months after the carrier suspended flights to Nigeria after a diplomatic row between the two countries over COVID-19 protocols. It will also enable travellers to safely connect via Dubai to the Emirates network of over 120 global destinations.

A Senior Advocate of Nigeria, Ebun-Olu Adegboruwa, says there is no provision in the law that empowers the Lagos State Governor, Babajide Sanwo-Olu, to overrule the decisions of the #EndSARS Judicial Panel of Inquiry. The senior lawyer also argued that no provision exists for the issuance of a White Paper under the law setting up the Panel. Mr Adegboruwa declared that the Governor cannot issue a White Paper to overrule the decisions of a Judicial Panel of Inquiry.

Speaker Femi Gbajabiamila has reiterated the determination of the House of Representatives to support the development of education in Nigeria. Gbajabiamila noted that education ranked topmost on the Legislative Agenda of the 9th House of Representatives because it remained the foundation of development in any society. He says education is the foundation of civilisation and development and many members are trying to get tertiary institutions to their locality. He added that Education remains the priority and everything will be done to bring it to fruition.

The head of vaccine manufacturer Moderna warned that existing Covid-19 inoculations will struggle against the fast-spreading Omicron variant as countries ramp up vaccination programmes and impose further restrictions in an effort to curb growing concern. Stephane Bancel, the head of US vaccine manufacturer Moderna, told the Financial Times in an interview that data would be available on the effectiveness of vaccines in the two weeks’ time, but that scientists were pessimistic.

OPEC and the oil cartel’s allies will hold a key output meeting on Thursday facing new challenges as the Omicron coronavirus variant has roiled markets and other US-led nations decided to tap their strategic reserves. Peter McNally, an analyst at the Third Bridge think tank says the meeting is shaping up to be one of the most significant since the pandemic demand recovery began, and the key signal will be how much more oil will be added to supply to start the new year. Carsten Fritsch of Commerzbank says there is much to suggest that OPEC+ will not initially step up its oil production any further” in an effort to maintain current prices at around $70 a barrel.

Japan confirmed its first case of the Omicron coronavirus variant, a day after authorities announced new Covid border restrictions. Government spokesman Hirokazu Matsuno says regarding the traveller arriving from Namibia, it was confirmed to be a case of Omicron after analysis at the National Institute of Infectious Diseases. The announcement came a day after Japan tightened its border rules again, barring all new foreign arrivals just weeks after relaxing tough regulations to allow some students and business travellers entry. Japan has recorded just over 18,300 coronavirus cases during the pandemic while avoiding tough lockdowns.

United Nations Secretary-General António Guterres says he is deeply concerned by travel bans on southern Africa. The UN chief says the people of Africa cannot be blamed for the immorally low level of vaccinations available in Africa and they should not be penalised for identifying and sharing crucial science and health information with the world. The UN chief viewed the blanket barring of certain citizens as a form of collective punishment. The UN chief has appealed to governments to consider scientific-based solutions such as increased testing and quarantine if need be.

Uganda People’s Defence Forces Spokesperson Brigadier General Flavia Byekwaso says the Ugandan army has launched joint air and artillery strikes against the rebel group the Allied Democratic Forces in the eastern Democratic Republic of Congo. She says that the operations were carried out with Congolese allies, against ADF camps, but did not give further details on the areas they have been conducted. Ugandan authorities blame the ADF, which is affiliated with the so-called Islamic State, for a series of bomb attacks in the country since October. IS claimed responsibility for twin bombings just outside the capital Kampala’s central police station and near parliament.