Top News Update 29/06/2017
1. CBN auctions $195m as BDCs sell at N363
2. FG approves six cashew factories for export
3. FG approves enrolment of NYSC members into NHIS
4. Apapa gridlock: NIWA says no plans for water transportation
5. Nigeria can become Africa’s solar capital–Vortman
6. Education minister seeks entrepreneurial, skills-based courses in tertiary institutions
7. Africa gets generic version of most effective HIV drug
CBN Auctions $195m As BDCs Sell At N363
The Central Bank of Nigeria (CBN) has intervened in various segments of the foreign exchange market, offering $195 million.The move was part of concerted efforts to keep exchange rates under control, as it pursues its ultimate goal of convergence. However, while the national currency lost N2 towards the close of business yesterday at the parallel market, exchanging N370 to the dollar, licensed Bureau De Change (BDC) operators sold at N363, while at the Investors and Exporters window, it maintained stability at N370. A breakdown of yesterday’s intervention showed that authorised dealers in the wholesale window segment received $100 million, while the Small and Medium Enterprises (SMEs) and invisibles segments got $50 million and $45 million.
FG Approves Six Cashew Factories For Export
The Federal Executive Council (FEC) yesterday gave approval for the establishment of six cashew-processing factories for export.These factories, Council said would be cited in the cashew belt areas of Enugu, Imo, Benue, Kogi, Kwara and Oyo states to meet the export demand of 130,000 tons valued at $7 billion per annum. This came as the Federal Government will today in Lagos begin export of yams with a consignment of 72 metric tons to the UK.Nigeria has consistently been reckoned globally as the largest producer of yams, at various times accounting for between 65 and 76 per cent of the world production.
FG Approves Enrolment Of NYSC Members Into NHIS
The Federal Executive Council on Wednesday approved the enrolment of members of the National Youth Service Corps Scheme into the National Health Insurance Scheme to guarantee them access to quality healthcare services. The Minister of Health, Prof. Isaac Adewole, stated this when he briefed State House correspondents on the outcome of the meeting which was presided by Acting President Yemi Osinbajo in the Presidential Villa, Abuja. Adewole expressed optimism that the inclusion of the corps’ members in the health scheme would not only check the reported unnecessary deaths among NYSC members but would also ensure that they receive the highest attainable level of health care across the country.
Apapa Gridlock: NIWA Says No Plans For Water Transportation
As cargo owners continue to groan under the yoke of the Apapa gridlock, it appears there will be no quick respite while the construction of the road by the Federal Government and other stakeholders lasts, as the use of the inland waterways as an alternative is not been considered. The Minister of Power Works and Housing, Babatunde Fashola, had stated during the signing of a Memorandum of Understanding and handing over of the project to the sponsors, Dangote Industries and Flour Mills Plc, that N4.34bn had been set aside for the rehabilitation of the road.
Nigeria Can Become Africa’s Solar Capital –Vortman
Today, there are 600 million people in the sub-Saharan Africa with no access to electricity. This problem is only going to increase in the coming years because the population grows and the infrastructure doesn’t grow fast enough. Looking at the problem, it is massive. It requires a different approach, very much like mobile telecommunications—when it came to Africa 15 years ago — required a different approach than how it was in the West. Then, prepaid was invented.
Education Minister Seeks Entrepreneurial, Skills-Based Courses In Tertiary Institutions
The Minister of Education, Adamu Adamu, has called for emphasis on entrepreneurial and skills-based courses in the nation’s tertiary institutions to promote self-reliance of graduates. He said that foundation would help reduce hunger and unemployment and their associated challenges in the country.He made the call while commissioning the United Nations Reading Hub and unveiling the Model United Nations Association of University of Uyo, Akwa Ibom State, imitated by Africa Youth Movement (AYM).
Africa Gets Generic Version Of Most Effective HIV Drug
The generic version of the most advanced drug against HIV has been introduced in Kenya, a first in Africa where more than 25 million have the disease, the NGO Unitaid said Wednesday. The drug, Dolutegravir (DTG) is the anti-retroviral drug of choice for those living with HIV in developed countries, but its high price has put it out of reach for most struggling with the disease in Africa. “The generic DTG has two advantages: on the one hand, it is very good from a pharmaceutical point of view. On the other hand, it is much cheaper,” said Robert Matiru of Unitaid, which works to reduce the costs of medicines treating AIDS, tuberculosis or malaria.
