Author: straightnewsng.com

Nigeria’s total debt profile stood at N24.387trillion as at December 31, 2018, the Debt Management Office (DMO) said. The figure moved from N21.725 trillion in December 31, 2017 to N24.39 trillion in December 31, 2018, showing an increase of N2.66 trillion or 12.25 per cent. Speaking at a press briefing in Abuja on Thursday, Patience Oniha, Director-General of DMO,  said the funds were borrowed to fund projects, to finance budget deficit and to re-finance maturing obligations. Oniha said some foreign debt was used to refinance treasury bills because of the short tenor of the bills, adding that borrowing from abroad…

German champions Bayern Munich thrashed title rivals Borussia Dortmund to move back to the top of the Bundesliga with six games remaining. Dortmund, who were two points clear heading into this match, were shell-shocked following a ruthless first-half display from the hosts. Goals from Robert Lewandowski, Mats Hummels, Serge Gnabry and Javi Martinez gave Bayern a 4-0 lead at half-time. Bayern are chasing a seventh consecutive Bundesliga title. In a showdown described as the “biggest in Europe this season”, Dortmund’s title hopes suffered a blow and extended their losing streak at the Allianz Arena to five games. At the start…

Men are more likely to die earlier than women, World Health Organisation (WHO) report has revealed. The “2019 World Health Statistics” published on the WHO website on Thursday, said that where men and women faced the same disease, women often seek health care less than men. “Women outlive men everywhere in the world particularly in wealthy countries and the World Health Statistics 2019 disaggregated by sex for the first time explains why. “In countries with generalised HIV epidemics, for example, men are less likely than women to take an HIV test, less likely to access anti-retroviral therapy and more likely…

Ecuador has denied WikiLeaks’ claims that it is set to expel Julian Assange from its embassy in London, rejecting what it called “an attempt to stain the dignity of the country.” Assange, the founder of WikiLeaks, has not left the embassy since 2012. He sought refuge there to avoid arrest and potential extradition to the United States for publishing thousands of classified military and diplomatic cables on the website. The organization has also repeatedly claimed that the US Justice Department is building a criminal case against Assange centered on the leaking of Democratic emails hacked by the Russians in the…

Nigeria’s indigenous oil company, Oando, has sold off its remaining 25 per cent residual interest in Axxela Limited (formerly known as Oando Gas and Power) for $41.5 million (N14 billion). Oando’s divestment of its 25 per cent residual interest from its midstream affiliate, Axxela, to Helios is in line with strategic initiatives, put in place to maintain the trajectory of aggressive debt reduction, portfolio optimization and ensuring that the business remain viable. In 2016, the company commenced the implementation of a three-pronged restructuring plan of growth via its upstream business; deleverage via disposal of USD$350 million in assets value and…

Boeing is temporarily cutting production of its best-selling 737 airliner in the continuing fall-out from crashes in Ethiopia and Indonesia. Production will drop from 52 planes a month to 42 from mid-April, Boeing has said in a statement. The decision is a response to a halt in deliveries of the 737 Max – the model involved in the two accidents. The plane is currently grounded as preliminary findings suggest its anti-stall system was at fault. An Ethiopian Airlines 737 Max crashed only minutes after take-off from Addis Ababa in March, killing all 157 people on board. The same type flown…

The Super Falcons of Nigeria shredded UMF Selfoss Women 6-1 in a friendly game held at the Pinatar Arena in Murcia on Friday evening. Thomas Dennerby’s Ladies used the game against the Icelandic topflight side as one of their tune up games as they continue preparation for their FIFA Women’s World Cup adventure this year. Reimus Magda opened the scoring for the opponents in Murcia a minute past the half hour mark but Uchenna Kanu pulled Nigeria level three minutes before the break. Second half substitutes Courtney Dike and Ini Umotong soon turned the game on its head in style,…

The suspended Chief Justice of Nigeria (CJN), Walter Onnoghen, has resigned from his position with immediate effect. Onnoghen tendered his resignation letter to President Muhammadu Buhari on Thursday evening according to The Cable. Recall yesterday, the National Judicial Council (NJC) recommended that the suspended CJN proceed on compulsorily retirement. Onnoghen is currently facing trial at the Code of Conduct Tribunal, CCT, over allegations of false declaration of assets, levelled against him by the Code of Conduct Bureau, CCB. Following the allegation, President Buhari had suspended him, and immediately appointed Muhammed Tanko as his replacement. By virtue of section 306 of…

Air Peace, a leading airline in the country, Wednesday, broke a record in Africa by being the first to order for 10 brand new Embraer 195-E2 planes. The order comprises purchase rights for another 20 E195-E2 jets. The request has 124-seater jet in dual class and 146-seater jet in single class configurations. With all purchase rights exercised, the contract has a value of N640.5 billion ($2.12 billion) The deal, which was unveiled during Embraer Business Meeting with the aviation world in Port Louis, Mauritius, makes the Nigerian firm the first to order the brand of jets on the continent and…

Amazon CEO Jeff Bezos will maintain the same level of control over the company he founded, after details of his divorce settlement became public. Following the end of his marriage to the novelist MacKenzie Bezos, the world’s richest man will maintain 75 percent of the couple’s Amazon shares. The couple had owned 16 percent of the company’s shares. While his former partner now owns 4 percent of the company, she has given up voting control associated with those shares. However, that 4 percent of Amazon is a fair chunk of change. At the time of writing, it’s worth $36 billion. The…