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‘Oil on the inequality fire’: How slashing jobless aid could widen the wealth gap
Already, the wealth divide is dramatic: The top 20 percent of the country held more than three-fourths of all household wealth in 2016, according to a Brookings Institution analysis of consumer finance data. The bottom 20 percent held just 2 percent. The coronavirus crisis is almost certain to worsen that. A May report led by economists from the International Monetary Fund found that recent major outbreaks, including H1N1 and Ebola, worsened income inequality for five years beyond the events. Without “deliberate and strenuous attempts to protect the most vulnerable segments of society,” the coronavirus’ effect on inequality could be greater than previous events, they warned. Slashing the level of unemployment aid now, when new jobless claims are rising and as data shows roughly one job ope...
Coronavirus may reach peak in Lagos by August – commissioner
The Lagos State Commissioner for Health, Akin Abayomi, said on Thursday that the state may experience the peak of coronavirus by August. Speaking at a press briefing on Thursday, Abayomi said that the COVID-19 prediction model of the state holds that the pandemic will soon reach its peak, followed by the flattening of the curve and a gradual decline in the number of cases. “We believe that in the next week or two, we are going to see an increase in both the private sector testing and public laboratory testing. “We are still seeing a gentle increase in the number of cases overtime cumulatively. Lagos will theoretically peak in the month of August, it will flatten out and over some time, we will see a decline,” Abayomi said. The commissioner earlier said the state will record between 90,000 ...
Fake lawyer bags three-years in imprisonment
File Photo An Abeokuta Magistrates’ Court in Isabo, Ogun, on Thursday sentenced a 47-year-old man, Omotola Ayokanmi, to three years imprisonment for impersonation. The Magistrate, Mrs Folake Ogundele, sentenced Ayokanmi after he pleaded guilty to a charge of impersonation. Ogundele sentenced the convict without an option of fine. Earlier, the Prosecutor, Insp Fortune Akhenegor, had told the court that the defendant committed the offence on July 16 at Federal High Court, Abeokuta. Akhenegor said that the defendant unlawfully presented himself as legal practitioner. He said that the convict went ahead to move an application for bail for a matter he appeared in as a counsel at the Federal High Court in Abeokuta. “The judge found fault in his address to the court which made the judge interroga...
Stakeholders advocate efficient fiscal policy for oil, gas sector
Stakeholders in the oil and gas sector have called for proactive fiscal policy in the petroleum industry to fast track investment and infrastructure development in the country. The stakeholders disclosed this at the Virtual workshop on Leveraging Fiscal Regulations to Attract Investments in the Petroleum sector, on Thursday. Mr Osten Olorunsola, Chairman, Energy Institute Nigeria, said that the oil and gas sector in Nigeria needed a lot of investment to meet with the current global challenges. He stated that globally, the industry had witnessed decline in product demand and low price regime, adding that only low cost molecules would be able to make it in the market. Olorunsola said that the sector in Nigeria needed to transform to meet with current trend as the sector was not buoyant as pe...
DPR seals off 15 illegal gas outlets in Kogi
The Department of Petroleum Resources, DPR, on Thursday moved heavily against persons dealing illegally in the sales of domestic gas in Kogi State, sealing off 15 retail gas outlets in the process. The operators of the outlets were subsequently arrested and handed over to men of the Nigerian Security and Civil Defence, NSCDC who were part of the special committee set up to go round the Lokoja metropolis. Speaking during the raid, the Chief operating officer, Idris Mohammed said that the raid became necessary in view of the proliferation of retail outlets sited in a residential areas, which run contrary to the safety rules laid down by the DPR. He said that the affected outlets have refused to heed to the repeated calls on them to approach DPR to obtain necessary guidelines for operating re...
TikTok Establishes $200M Fund to Pay Creators
“TikTok has grown to become a source of income and opportunity for creators and their families — and we couldn’t be more encouraged by their success.” Over the past two years, short-form video app TikTok has become a gold mine for talent: Popular creators like Charli D’Amelio and Addison Rae have turned their accounts into full-blown careers, signing with Hollywood’s biggest agencies and raking in money from record labels to promote songs. Now, TikTok is helping more creators make money on the platform with the introduction of its $200 million Creator Fund, which will “encourage those who dream of using their voices and creativity to spark inspirational careers,” TikTok U.S. general manager Vanessa Pappas wrote in a company blog pos...
Microsoft sees growth amid pandemic computing demands
Microsoft on Wednesday reported rising revenues in the past quarter amid strong demand for cloud computing services from pandemic-hit businesses and consumers and big gains in its Xbox gaming operations. Profits in the quarter ending June 30 fell 15 percent to $11.2 billion, the result of increased tax charges compared with a year ago. Revenue meanwhile rose 13 percent to $38 billion, led by strong gains in its cloud computing and its Xbox gaming services. Chief executive Satya Nadella said Microsoft was equipped to deal with the coronavirus pandemic with its “integrated, modern technology stack.” “We are seeing businesses accelerate the digitization of every part of their operations from manufacturing to sales to customer service,” Nadella told a conference call. Microsoft shares dipped s...
Jordon Ibe wants big transfer deal for Nathan Ake
Getty Images Jordon Ibe is backing former Bournemouth teammate Nathan Ake for a big club move away. Ibe left the Cherries at the end of last month. Asked whether he felt Ake had the ability to play for a top club, winger Ibe told the Beautiful Game podcast: “One-hundred percent. “I want to see him do that. He deserves it. “He’s been such a top player for Bournemouth. “Even when he went back to Chelsea, he didn’t play as much, but he’s a terrific player. “They (Cherries) have nurtured him, they’ve helped him on his way to the player he is today but he’s good enough to be at those top clubs. “I’d love to see it one day.” Get more stories like this on Twitter You Deserve to Make Money Even When you are looking for Dates Online. So we reimagined what a dating should be. It begins with giving y...
Customs promotes 2,634 officers, appoints 5 ACG
File Photo The Nigeria Customs Service Board (NCSB) has approved the the appointment of five Assistant Comptrollers-General (ACG) of Customs and promoted 2,634 Officers. Mr Joseph Attah, the Public Relations Officer (PRO) of the service, made this known in a statement in Abuja on Wednesday. Attah said the newly appointed ACG of Customs were Mohammed Boyi, Training and Coordination, Adewale Adeniyi, Commandant C&SC Gwagwalada and Jack Ajoku, Strategic Research and Policy. Others are Olakunle Oyeleke Doctrine, Development and Administration and Emmanuel Edorhe, Zonal Coordinator, Zone ‘C. He disclosed that the board also approved the dismissal of ACG Aminu Dahiru for serious misconduct, while ACG Bashir Abubakar got compulsory retirement for act of negligence. The spokesperson said the d...
Speaker Gbajabiamila: House of Reps to provide funds for fight against gender-based violence
Speaker of the House of Representatives Femi Gbajabiamila says the house will provide funds for the fight against Gender-Based Violence (GBV) in the 2021 budget to be presented to the National Assembly in September. Gbajabiamila said this in response to a request by Ulla Mueller, the Country Representative of the United Nations Population Fund (UNFPA) in Nigeria on Wednesday in Abuja. Mueller led a delegation of United Nations (UN) and European Union (EU) Spotlight Initiative on a courtesy call to the speaker, a statement issued by Mr Lanre Lasisi, Special Adviser on Media and Publicity said. Gbajabiamila said that apart from budget funds, the house would also provide all necessary support and partner with relevant stakeholders for the fight against GBV to succeed. According to the speaker...
Edo APC primary: Group frowns at Chris Ogienwonyi’s disqualification
A political pressure group in Edo state, Masses Eye, has called on the leadership of the All Progressives Congress (APC), to apologise to one of the party’s chieftains, Chris Ogiemwonyi, for making a mockery of him during the party’s pre-primary election screening exercise. Recall that Ogiemwonyi was one of the governorship aspirants screened for the party’s primaries, but was disqualified by the committee over alleged discrepancies in the name on his credentials. The committee had disqualified Ogiemwonyi who is popularly known as Chris, saying the name cannot be be the Christopher on his credentials. But, the coordinator of the group, Mr. Samson Momorin, in a statement on Tuesday, said Ogiemwonyi’s disqualification was unjustified, more so, he has been a loyal and dedicated chieftain of t...
Oyo APC, Governor Makinde in war of words over N100 billion bond
The All Progressives Congress (APC) in Oyo State, yesterday, said it has uncovered fresh plots by Governor Seyi Makinde to add to the debt profile of the state through what it called needless borrowing of N100 billion styled bond by the governor to finance some projects. But the state government, in a swift reaction, said the APC was frustrated and has exhibited its mercantile approach to governance. The war of words came on the heels of Governor Mankinde’s approval for the issuance of N100bn Private bond for circular road, Iseyin-Ogbomoso road, Ibadan Airport expansion. However, APC, in a statement by its Publicity Secretary in the state, Dr. Abdul-Azeez Olatunde, noted that the governor on his assumption of office, was shouting on the roof top of meeting debt from his predecessor, in the...
