Imo: IEDI Preaches Peace, Seeks End To Insecurity

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The Imo Economic Development Initiative (IEDI), a not-for-profit, non-political think-tank, has decried the state of insecurity in the state, even as it called on all concerned parties to embrace peace.

Equally important, the IEDI has expressed his determination to facilitate an all-inclusive stakeholders’ meeting to address the worrisome situation and fashion a way forward.
The group, which has Prof. Maurice Iwu as Chairman, made this known after it rose from an emergency meeting held on Sunday, June 6, 2021.

In a statement signed by Chief Jerry Chuwueke, Chairman of the ad-hoc committee set up to address the security situation in Imo State, IEDI condemned the wave of bloodletting, wanton attacks on security personnel, security formations and destruction of government facilities, including prisons, police stations and INEC offices in the state.

Furthermore, it pleaded with the actors to cease the destruction and give peace a chance.
‘‘We plead with all concerned to stop these killings, bloodletting and destructions going on in Imo State, as this is no way to advance the course of any legitimate agitations and/or frustrations as regards the feelings of marginalisation, inequality, injustice and lack of inclusion by most of our people, real or perceived in the Project Nigeria,’’ the statement read in part.

In addition, the group expressed concerns over the devastating effects of the security situation on the economy of the state. It noted that Imo State, which was previously renowned as a strong brand in hospitality, leisure, entertainment and education, has now become a theatre of war and bloodletting, adding that the development has left the people traumatized and the economy on its knees.

Consequently, IEDI says the proposed stakeholders’ meeting, which is set to hold soon, will go a long way in redressing the grievances and charting a path forward for the state.

“This (stakeholders’ meeting) will accord representatives of all Imo State stakeholders, including senators of the three zones in Imo state past and present, all House of Representative members from Imo State past and present, all…members of Imo State House of Assembly past and present, traditional rulers, the business community, town unions’ President General, political party leaders, student bodies’ executives and youth organizations executives, Imo Government and security agencies, the opportunity to come together and discuss in order to fashion a way forward and restore peace and normalcy,’’ it disclosed.

Meanwhile, IEDI has urged the Imo State Government to stand strong to protect the lives and properties of the people, in addition to taking all necessary steps to diffuse the situation and restore normalcy.

Also, it condemned any act of disrespect for the fundamental human rights of Imo citizens by security agents, including indiscriminate arrests, unlawful detentions, extrajudicial killings and collective punitive measures.

Founded five years ago, the IEDI is made up of prominent Imo indigenes and distinguished sons and daughters of the state drawn from various sectors, among whom are globally renowned entrepreneurs, professionals, seasoned members of the academia and Imolites in the Diaspora.

Food is over 27% more expensive than it was between 2014-2016

Globally, food is more than 27% more expensive than it was between 2014-2016. As a result of the pandemic, food prices actually fell initially, but now with markets back on track, prices are rising faster than ever.

The wholesale price of food initially fell during the COVID-19 pandemic but has since risen steeply, according to the global FAO Food Price Index. One of the main drivers in price rises is palm oil. Global cereal prices also showed a significant bump in the past months.

After the wholesale price of food initially slumped during the coronavirus pandemic, the global FAO Food Price Index has shown a steep increase since the fall. Most recently, food around the world was more than 27 percent pricier than the 2014-2016 average, on which the index baseline of 100 points is calculated. The May figure is the highest of any month in almost ten years.

Food trade FOOD FORTIFICATION World food prices rise for 7th month in a row in December

Palm oil prices have been driving the increase in the index since the fourth quarter of 2020, but global cereal prices also showed a significant bump in the past months, together creating a level of food prices not seen in a decade.

Dry weather and production disruptions due to COVID-19 coupled with high global demand led to the depletion of palm oil inventories, in turn driving up prices. As transportation picked up again, biodiesel demand led to an increased need for soyoil. Both developments caused prices for vegetable oils to exceed the 2014-2016 average by almost 75 percent in May.

Food
Food around the world was more than 27 percent pricier than the 2014-2016 average.
Image: Statista

For cereals, strong demand from China increased prices, especially for sorghum, barley and corn. Worsening crop prospects in Latin America have also contributed to the increase in maize prices.

Speculation about whether the disruptions of the coronavirus pandemic would drive up food prices have been abound, but due to the COVID-related economic downturn and falling out-of-house demand, they actually decreased at the start of 2020, reaching a low one year ago.

According to the U.N., falling mineral oil prices also factored into the initial deterioration of food prices as many alternative fuels, which are made out of food stocks, saw demand fall. As the crisis wore on and some countries reopened at least temporarily, global demand and prices started to pick up again in the summer of 2020.

As the example of palm oil inventories shows, COVID-related disruptions (or those in which COVID-19 is a factor) do have the power to let prices trend upwards in the current market environment.

Food is Getting More Expensive. This chart shows how

  • Food around the world is more than 27% pricier than it was between 2014-2016.

  • The wholesale price of food initially fell during the COVID-19 pandemic but has since risen steeply, according to the global FAO Food Price Index.

  • One of the main drivers in price rises is palm oil.

  • Global cereal prices also showed a significant bump in the past months.

After the wholesale price of food initially slumped during the coronavirus pandemic, the global FAO Food Price Index has shown a steep increase since the fall. Most recently, food around the world was more than 27 percent pricier than the 2014-2016 average, on which the index baseline of 100 points is calculated. The May figure is the highest of any month in almost ten years.

food September Annual Inflation Rate Rises to 13.71% amid Continued Increase in Food Prices
Photo by Eva Blue

Palm oil prices have been driving the increase in the index since the fourth quarter of 2020, but global cereal prices also showed a significant bump in the past months, together creating a level of food prices not seen in a decade.

Dry weather and production disruptions due to COVID-19 coupled with high global demand led to the depletion of palm oil inventories, in turn driving up prices. As transportation picked up again, biodiesel demand led to an increased need for soyoil. Both developments caused prices for vegetable oils to exceed the 2014-2016 average by almost 75 percent in May.

Food
Food around the world was more than 27 percent pricier than the 2014-2016 average.
Image: Statista

For cereals, strong demand from China increased prices, especially for sorghum, barley and corn. Worsening crop prospects in Latin America have also contributed to the increase in maize prices.

Speculation about whether the disruptions of the coronavirus pandemic would drive up food prices have been abound, but due to the COVID-related economic downturn and falling out-of-house demand, they actually decreased at the start of 2020, reaching a low one year ago.

According to the U.N., falling mineral oil prices also factored into the initial deterioration of food prices as many alternative fuels, which are made out of food stocks, saw demand fall. As the crisis wore on and some countries reopened at least temporarily, global demand and prices started to pick up again in the summer of 2020.

As the example of palm oil inventories shows, COVID-related disruptions (or those in which COVID-19 is a factor) do have the power to let prices trend upwards in the current market environment.

Rebeca Grynspan appointed as UNCTAD Secretary-General

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Geneva, 11 June 2021 – Rebeca Grynspan of Costa Rica will be the new Secretary-General of UNCTAD, the UN trade and development body. Her nomination to the post by UN Secretary-General António Guterres was approved by the UN General Assembly earlier today.

Ms. Grynspan, the first woman and Central American to be appointed as Secretary-General of UNCTAD, is an economist and current Ibero-American Secretary-General.

Rebeca Grynspan
270515 Madrid Rebeca Grynspan en la sede de la Secretaría General Iberoamericana SEGIB.
Fernando Sánchez/SEGIB

“I am grateful and honoured for the trust the UN Secretary-General António Guterres has placed in me with this appointment as Secretary-General of UNCTAD,” Ms. Grynspan said. “I look forward to bringing my experience and commitment to development to this unique organization, whose history, mandate and recognized world-class expertise make it a key partner for all countries facing the challenges of post-pandemic recovery.”

She added: “I believe that, at this critical time, UNCTAD can make an essential contribution for a more just, sustainable and inclusive recovery for all.”

Ms. Grynspan has had a career spanning many years and has held several high-level positions including, among others, former Under-Secretary-General of the United Nations and Associate Administrator of the United Nations Development Programme (UNDP).

She has also served as the UNDP Regional Director for Latin America and the Caribbean, a member of the High-level Panel on Financing for Development, and Vice President of Costa Rica (1994 to 1998).

UNCTAD Acting Secretary-General Isabelle Durant welcomed the appointment and said:

“This is great news for UNCTAD. The timely coming on board of Ms. Grynspan as our Secretary-General will be key to leading us in the implementation of a new chapter and mandate that will be decided by our 15th ministerial conference, UNCTAD15, in October this year.”

Finnish, Japanese research groups collaborate on 6G development

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Japan and Finland will conduct joint research and development of sixth-generation communications technology, looking to lead the creation of 6G standards in a field increasingly influenced by Chinese companies.

The Japanese Ministry of Internal Affairs and Communications’ Beyond 5G Promotion Consortium and the University of Oulu-led 6G Flagship research programme signed the agreement yesterday (8 June) at the Global Digital Summit 2021 in Tokyo.

Growing interest

While 6G technology won’t have formal specifications for a number of years, momentum is growing as major industry players target launches in 2030.

In a recent white paper, the China Academy of Information and Communication Technology’s IMT-2030 (6G) Promotion Group predicted 6G technology would employ terahertz frequencies alongside the existing 5G spectrum, China Daily reported.

The Chinese government and industry experts outlined a plan in March to advance 6G between 2021 and 2025.

In February, a 6G research project was announced involving major European operators, while US operators previously committed to the Next G Alliance, a group developing and defining the technology.

Africa: Nine African Countries Set To Miss Urgent COVID-19 Vaccination Goal

As COVID-19 cases in Africa rise for the third week running and vaccines are increasingly scarce, 47 of Africa’s 54 countries—nearly 90%—are set to miss the September target of vaccinating 10% of their people unless Africa receives 225 million more doses.

The new global targets were announced recently at the World Health Assembly, the world’s highest health policy-setting body, and at today’s pace only seven African countries are set to meet them.

As Africa nears 5 million COVID-19 cases, numbers are rising week-on-week and increased by nearly 20% to over 88 000 in the week ending on 6 June. The pandemic is trending upwards in 10 African countries, with four nations recording a spike in new cases of over 30% in the past seven days, compared with the previous week. 72% of all new cases were reported in Egypt, South Africa, Tunisia, Uganda and Zambia and over half were recorded in nine southern African countries.

“As we close in on 5 million cases and the third wave in Africa looms, many of our most vulnerable people remain dangerously exposed to COVID-19. Vaccines have been proven to prevent cases and deaths, so countries that can, must urgently share COVID-19 vaccines. It’s do or die on dose sharing for Africa,” said Dr Matshidiso Moeti, the World Health Organization (WHO) Regional Director for Africa.

At 32 million doses, Africa accounts for under 1% of the over 2.1 billion doses administered globally. Just 2% of the continent’s nearly 1.3 billion people have received one dose and only 9.4 million Africans are fully vaccinated.

However, United States President Joe Biden’s planned announcement that the US will purchase and donate half a billion Pfizer vaccines to 92 low- and lower-middle-income countries and the African Union is an important step forward. This comes as we see other countries such as France also making tangible deliveries via COVAX.

“The tide is starting to turn. We are now seeing wealthy nations beginning to turn promises into action,” said Dr Moeti.

While more vaccines are vital, some African countries must ramp up actions to swiftly roll out the vaccines they have. While 14 African countries have used from 80% to 100% of the doses they received through the COVAX Facility, 20 countries have used less than 50% of the doses received. Twelve countries have more than 10% of their AstraZeneca doses at risk of expiring by the end of August.

“We need to ensure that the vaccines that we have are not wasted because every dose is precious,” said Dr Moeti. “Countries that are lagging behind in their rollout need to step up vaccination efforts.”

Several African countries, including Côte d’Ivoire and Niger are seeing more success by adjusting their vaccine rollout strategies. Where possible, WHO recommends spreading vaccinations beyond large cities into rural areas, prioritizing vaccines that are close to expiring, tackling logistical and financial hurdles and working to boost public demand for vaccines.

Attitudes towards vaccines and acceptance of vaccination varies across countries and communities. According to the Risk Communication Community Engagement Collective, a joint WHO, United Nations Children’s Fund (UNICEF) and International Federation of the Red Cross and Red Crescent Societies (IFRC) initiative, confidence in vaccines in Africa ranges from just 38% in Cameroon to 86% in Guinea. On average, West and Central Africa has the lowest vaccine confidence at around 60%.

To combat mis-and-disinformation around vaccines, WHO and partners set up the Africa Infodemic Response Alliance (AIRA), which leverages the reach and insights from a unique network of 14 organizations and pools resources to combat misinformation. Viral Facts Africa, the public face of the alliance, has created over 150 videos and social media posts to counter misinformation this year and they have been disseminated on almost 60 social media channels across the region and gained more than 100 million views.

Dr Moeti spoke during a virtual press conference today facilitated by APO Group. She was joined by Hon Mr Pierre N’Gou Dimba, Cote d’Ivoire Minister of Health, Public Hygiene and Universal Health Coverage, and Ms Luchen Foster, Director of Health Partnerships, Facebook.

Also on hand to answer questions were Dr Phionah Atuhebwe, Vaccines Introduction Officer, WHO Regional Office for Africa, Dr Thierno Balde, Team Leader, Operational Partnerships, WHO Regional Office for Africa, and Dr Gilson Paluku, Routine Immunization and New Vaccines Introduction Officer, WHO Regional Office for Africa.

Meet Mark Angel, Comedian Made By Africa, Loved By The World

As Facebook continues to spotlight exemplary Nigerians whose work has helped put Nigeria and Africa as a whole on the global map with the ‘Made by Africa: Loved by the World’ campaign, the name Mark Angel comes to mind as this name and the brand it represents has become such a strong force to reckon with in the comedy industry today.

The brand enjoys a large following of over 17 million followers on Facebook and over 1 million followers on Instagram.  There’s no doubt that the content produced by Mark Angel has endeared the hearts of millions all over the world.

In 2016, Emmanuella was awarded the “Princess of Comedy” title as well as “Best New Comedienne,” at the Afro Australia Music and Movie Awards (AAMMA 2016) in far away Syndey Australia.

Mark Angel currently ranks as the most popular Nigerian brand on Facebook with the largest number of followers. But what has made Mark Angel become such a recognizable name in comedy today?

Let’s consider five simple Facebook tips that helped Mark Angel achieve such feats online.

  1. Don’t get discouraged with the followers/engagement at first

According to Mark Angel himself, the first video they posted on social media only got four views. But today, his Facebook page boasts over 17 million followers, and his videos easily get a combined view of over a million on average on all social media platforms weekly. All this has happened because he and his team didn’t get discouraged by the low response they got at first.

  1. Don’t just focus on content. Learn a Skill

Having learnt cinematography from faraway India, Mark Angel didn’t allow his focus to simply be on content creation.  According to Mark Angel, he spent over $100 (over ₦40,000 naira based on current exchange rates) to learn how to edit videos as it is possible to get disappointed by those who are skilled in this area anytime.

  1. Invest in equipment

Mark invested $5,000 (over ₦2 million) on equipment and also invested in getting a production team. The results of that investment today are obvious as the quality of his video production greatly improved. Today, the Mark Angel brand has equipment worth a lot more than $50,000 (₦20 million).

  1. Be consistent

Every Friday, the Mark Angel team makes sure that content is posted on all social media platforms. This creates a regular sense of expectation in the heart of the fans as they always know when to expect content. To make this happen, the team obviously has to make sure all the requisite content is ready for posting before Friday.

  1. Be original

Mark Angel prides itself as being one of the first brands in the comedy skits producing sector to feature children as stars and main characters with Emmanuella having grown in fame and popularity over the years. This obviously has become a niche for the brand as they have recently been seen to include other children in different episodes, popularly among which is teenage sensation, Success.

Watch his story on the official Facebook Africa page and on a dedicated ‘Made by Africa, Loved by the World’ microsite to get a glimpse into the growth and success of Mark Angel, the African creative whose comedy is loved by the world.

African Mobile Phone Market Grows 14% To 53.3 Million Units In Q1

Africa’s overall mobile phone market had a year-on-year (YoY) growth of 14.0 percent in the first quarter to 53.3 million units, according to the International Data Corporation (IDC).

Its report says the region’s smartphone market grew 16.8 percent in Q1 to 23.4 million units, with the feature phone market up 11.9 percent to 29.9 million units.

Major African smartphone markets performed well with the exception of South Africa, where the main vendors faced supply shortages and an economic environment that hit demand.

Egypt had one of the highest growth rates in the region in Q1 thanks to strong local demand, the easing of Covid-19 restrictions, and major vendors like Samsung and Oppo increasing their shipments to the country.

Nigeria also had a strong YoY growth rate with the release of pent-up demand and increasing shipments of Transsion and Samsung devices to the market.

Transsion brands (Tecno, Infinix, and Itel) continued to lead Africa’s smartphone space in Q1, with a combined unit share of 44.3 percent, followed by Samsung and Oppo with respective shares of 22.9 percent and 8.3 percent.

Transsion brands also dominate the feature phone market, with a combined unit share of 78.7 percent, followed by Nokia and Stylo with respective shares of 8.1 percent and 1.7 percent. The ultra-low price band (below USD 100) accounted for 42.0 percent of the market’s shipments in Q1 2021, down from 49.6 percent in Q1 2020.

The low-end price band (USD 100 to USD 200) saw its share increase from 35.2 percent to 43.3 percent over the same period. The increased specifications and attributes in smartphones are driving prices upwards, as shown by the growth of the low-end price band, IDC said.

Main vendors such as Transsion, Samsung, Oppo and Xiaomi all launched new feature-rich models in this price band. These models were well received by channels and customers alike.

Looking ahead, IDC expects Africa’s smartphone market to grow 5.6 percent YoY in unit terms for 2021 as a whole.

Fired Lekoil CEO Took Different Job Behind Company’s Back

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LEKOIL the oil and gas exploration and production company with a focus on Nigeria and West Africa, provides an update on the termination of the employment contract of its CEO, Mr. Olalekan Akinyanmi.

The Company is aware that in late 2020 Mr. Akinyanmi, without the prior knowledge or consent of the Company, entered into an employment contract with Lekoil Nigeria Limited (“Lekoil Nigeria”), to act as its Chief Executive Officer, with effect from 1 January 2021.

The Company has been advised that this represents a conflict of interest and is a breach of his employment contract with the Company. This was one of the reasons for the termination of his employment contract with the Company.   

The Company is aware that Lekoil Nigeria has stated that Mr. Akinyanmi remains the CEO of Lekoil Nigeria. The Company will seek to ensure that Mr. Akinyanmi is restricted from continuing in this role as CEO of Lekoil Nigeria, as per the provisions of his employment contract with the Company.

The Company reserves its rights to challenge the validity of any actions in breach of these provisions and would advise relevant parties to seek the relevant legal advice.

Background – the Company and Lekoil Nigeria

The Company notes that the current corporate structure containing the Company and Lekoil Nigeria was in place at the time the Company was admitted to AIM in 2013 (“Admission”). The Admission Document is available on the Company website at https://www.lekoil.com/corporate-documents.  

The Company confirms that, since Admission, no changes have been made to the Shareholders Agreement between the Company and Lekoil Nigeria. A description of the Shareholders Agreement is set out in the Admission Document. The Shareholders Agreement is between the Company, Lekoil Nigeria, Mr. Akinyanmi and the employees and directors of Lekoil Nigeria.

 The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014.  Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.