COVID-19 and Kwara’s capacity to hold its own

By Rafiu Ajakaye — This is no good time for mankind — no thanks to the deadly Coronavirus, or COVID-19. The virus is giving the most powerful of nations a good run for their money, technological know-how, and oft-touted readiness to face down any threat from anywhere. As of 10:37p.m. on March 29, the virus has affected 199 countries across all the continents with at least 718,656 cases (of which 533, 847 are confirmed), and 33,891 deaths. At 9:30p.m. on Sunday, Nigeria had 111 confirmed cases with one death. 

Read More

China to Lagos, the frightening timeline of a deadly virus

By Olusegun Fafore — Fatality rate across the globe since the outbreak of Coronavirus (COVID-19) in the Chinese town of Wuhan on December 31, 2019 has signalled that this is not the best of times for humanity.  With about 8, 988 deaths and 220,877 people infected in 176 countries since the first death was recorded in China on January 11, 2020, the pandemic has boisterously announced its immensity.

Read More

2023: A different form of ailment

By Asiwaju Bola Tinubu– Due to alert responses of Lagos and Ogun state governments, actively supported by the federal machinery, Nigeria was able to quickly identify and isolate the two cases of the novel Coronavirus 19. This action, thus far,has stopped the spread of the disease into the wider community as has been seen in other nations. We are grateful to God and to all those involved in the response effort, particularly the brave and committed medical teams on the frontline.

Read More

Coronavirus as a major catalyst for a global economic meltdown – Investment One

As a continuation to our report on Coronavirus (see here), we write an update on the pandemic as its impact on global economy continues to escalate. With over 118,000 reported cases as at the time of this report and about 4,292 reported death cases from the virus, we think the world may be on course for a global recession as economic and social activities slow down. We see the virus outbreak as a major catalyst for a global economic meltdown. While major central banks remain dovish to support economic activities (Fed cut rate by 50bps, the highest rate cut since 2008), we think this may not be sufficient to save the global economy from a significant downturn.

Mayday Mayday: Oil Down on OPEC+ Price War

To add to the woes of oil exporting nations, who have suffered significant loss in revenue on the back of the impact of coronavirus on oil demand, the inability of the OPEC, led by Saudi Arabia and its allies, led by Russia, to reach an agreement on the additional production cut or even maintain the current cap beyond March 2020. This led to 31% loss in Brent to around US$33 per barrel, the highest daily loss since the Gulf war in ‘98. With Saudi Arabia and Russia engaging in a price war, we think oil may face a similar oil glut of H2 2014 – where Brent oil fell from US$112.36 per barrel in June to US$57.33 per barrel in December 2014, due to oversupply of crude oil from US and Canadian tight oil (shale oil), geopolitical rivalries amongst oil-producing nations and falling demand across commodities markets due to the deceleration of the Chinese economy.

Read More

Immunity for lawmakers will leave Buhari’s anti-corruption agenda in tatters

By Kolawole Olaniyan– When Nigeria’s President Muhammadu Buhari was named by the African Union as its first “anti-corruption champion in Africa” in 2018, he called on member states to “invest in institutions to entrench transparency and accountability.” But the recent push by many lawmakers from his All Progressives Congress (APC) party to grant themselves immunity from prosecution for corruption would seem to leave Mr Buhari’s national commitment to tackle corruption in tatters and fatally undermined.

Read More