Nigeria’s stock market remains bearish despite economic exit from recession

The National Bureau of Statistics (NBS) announced earlier on Thursday that Nigeria’s economy has exited recession following the fourth quarter 2020 Gross Domestic Product (GDP) growth of 0.11 percent. The news, however, seem to have little or no impact on stock market investors’ confidence as Nigeria’s bourse remained in a bearish state. Nigerian stock market continued on a decline path as investors lose over N130 billion following the close of market on Thursday. The equity capitalisation closed at N21.036 trillion, below the N21.16 trillion the market closed with on Wednesday.…

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Information Services 

An afternoon with Nigeria’s chief technology officer

The first thing he did was to remind that cryptocurrency is enabled by a technology with applications far beyond the disputed virtual currency. “The world is fast evolving,” he said, “But there’s no plan to stifle any technology or innovation in Nigeria.” If Nigeria were a startup, Kashifu Inuwa Abdullahi, as the Director-General of National Information Technology Development Agency (NITDA), would function as a leading technical officer and this made me yield to the temptation to engage him when we caught up last Tuesday. The week before, I wrote about…

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Advertising Africa 

We’II Provide Loan Schemes To Help People Rent-NPP

The Vice President, Dr. Mahamudu Bawumia has indicated that the next New Patriotic Party (NPP) government will provide loans for young people to rent decent homes. This he stated would be will be done through a new National Rental Assistance scheme which will start off with an amount of GH¢100 million. He made this known at their manifesto launch. “There are lots of youth who when they finish school, to rent accommodation is a big problem especially because of the demand for rent allowance sometimes up to two years demand.…

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Covid19 North America 

Congress Put the Brakes on Cuba Relief to Protect Front-Line Democrat

several House Democrats quietly killed an attempt to roll back aspects of the Trump administration’s sanctions on Cuba, which have exacerbated the economic fallout of the pandemic and hit the country with severe food and medicine shortages to protect a front-line Democrat. Rep. Bobby Rush, D-Ill had proposed two Cuba-related amendments to the appropriations bill, aimed at alleviating the Trump administration’s efforts to strangle the country’s economy and returning to Obama-era policy. One of the measures would have prohibited officials from blocking food and medicine exports to Cuba, while the…

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North America 

How Costa Rica Slowed, Stopped, Then Reversed Deforestation in Their Rainforests

In the 1970s and 80s, Costa Rica had the highest deforestation rates in Latin America but the next few decades saw the country halt her forest loss, initiate replanting and conservation efforts, and regrow almost all of her lost tree cover. Their methods have set up the most successful forest management model on earth. Leading the way in the fight against human-accelerated climate change, Costa Rica’s success story of sustainable forestry was strengthened by a simple strategy of valuing forests by paying for their restoration, through their Payment for Environmental…

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