DYAG News and Views - 2nd December 2023
We bring you the daily roundup of the hottest news from Nigeria and around the world.
Local News
Doctors' Exodus: LUTH Shuts 5 Wards, Reps Alarmed
The House of Representatives Committee on Health expressed concern over the decline in Nigeria's health workforce, particularly the relocation of doctors and nurses from Lagos University Teaching Hospital (LUTH) to other countries. Due to this trend, five wards with 150 beds at LUTH have been closed. The committee, led by Dr Amos Magaji, aims to address the increasing medical tourism by enhancing infrastructure and making the health sector more attractive to workers.
Bioethanol Gains Popularity Amid Soaring Cooking Gas Prices
With the cost of regular cooking gas becoming unaffordable for many due to inflation, bioethanol emerges as a cheaper and renewable alternative in Nigeria. As inflation in Africa's largest economy exceeds 27% in the past year, households turn to bioethanol, which costs just over $1 per litre. Apart from being cost-effective, bioethanol gel provides a cleaner alternative, reducing harmful emissions and health risks associated with traditional fuels, contributing to a potential reduction of over four million tonnes of carbon dioxide emissions in Nigeria.
UniCal VC Highlights Financial Challenges, Debunks University Autonomy
The Vice-Chancellor of the University of Calabar (UniCal), Professor Florence Obi, asserts that Nigerian universities cannot achieve financial autonomy without receiving tuition fees from students. Prof. Obi explains that government support, TETFund grants, and internally generated revenue from student service charges sustain university operations. She emphasizes the necessity for proper funding, dispelling the notion of full autonomy. The Federal Government's discarded policy, requiring universities to remit 40% of their IGR, is also discussed as the VC advocates for adequate funding.
Business
FirstBank Group Appoints Olukorede Adenewo as MD/CEO of FirstBank UK"
The FirstBank Group announces Olukorede Adenewo as the Managing Director/Chief Executive Officer of its UK subsidiary, FirstBank UK. Adenewo, former CEO of Standard Chartered Bank Nigeria, brings extensive leadership and global financial expertise to the role. The appointment, effective from November 16, 2023, is subject to regulatory approvals. FirstBank expresses confidence in Adenewo's ability to lead FirstBank UK into its next phase of growth and development.
Kia Motors and Portland Gas Partner to Introduce CNG Systems in Nigeria
Kia Motors collaborates with Portland Gas Nigeria Limited to install Compressed Natural Gas (CNG) systems in Kia automobiles, starting at the Portland Gas Green Pack in Lagos. The Managing Director of Kia Motors, Jacky Hathiramani, emphasizes the commitment to a greener future, offering a comprehensive approach to alternative energy solutions. The partnership aims to retrofit CNG kits in Kia vehicles, promoting hybrid capabilities for a more environmentally friendly and cost-effective automotive future. The initiative also advocates for the massive adoption of CNG, highlighting its cost-effectiveness, cleaner combustion, and positive environmental impact.
Sahara Group Unveils 2060 Net Zero Plan for Greener Energy Solutions
Sahara Group, a Nigerian energy and infrastructure entity, announces its commitment to becoming a net-zero business entity by 2060, focusing on aligning operations with greener and cleaner energy solutions. Ejiro Gray, Director of Governance and Sustainability at Sahara Group, highlights the comprehensive Energy Transition Plan, covering operations in over 42 countries. The plan aims to reduce the company's operational carbon footprint and contribute to a global energy transition strategy. Sahara Group emphasizes its responsibility in building a healthier, cleaner, and more productive planet Earth.
Nigeria, Angola Reject OPEC's Proposed Oil Quota Cut Amidst Pricing Struggles
Nigeria and Angola resist OPEC's push for a reduction in their crude oil production quotas, creating a deadlock that delays a crucial meeting. Delegates reveal that both countries oppose lower quota limits for 2024, reflecting their concerns about diminished production capabilities. The stalemate might persist, potentially leading to a further delay in the scheduled OPEC meeting on November 30, 2023. Market watchers predict the need for production cuts as crude prices approach $80 per barrel, adding complexity to OPEC's efforts to finalize the production policy for 2024.
Jack Ma Ventures into Agriculture with 'Ma’s Kitchen Food' Amid Industry Crackdown Speculations
Jack Ma, co-founder of Alibaba, sparks speculation about his activities as he establishes "Hangzhou Ma’s Kitchen Food," a company focused on processing and selling agricultural products. Ma, who retreated from the spotlight during a government-led industry crackdown, sets up the venture with an initial capital of $1.4 million. The business aligns with Ma's focus on agriculture and follows his involvement in projects related to rural development and education. The move adds to the endeavors of notable entrepreneurs contributing to China's "common prosperity" initiative.
Apple Plans to End Credit Card Partnership with Goldman Sachs
Apple intends to terminate its credit card partnership with Goldman Sachs, signaling a shift as the investment bank retracts from consumer lending. The proposed exit, set for 12 to 15 months, covers the entire consumer partnership, including the credit card launched in 2019 and a savings account introduced this year. Goldman Sachs, facing challenges in consumer lending, is in discussions with potential successors, including American Express and Synchrony Financial. While the future issuer remains unclear, this move reflects Goldman's broader strategy to discontinue certain consumer-focused partnerships.
International
Freed Thai Hostages Welcomed Home Amidst Joy and Hope for Others
Seventeen Thai hostages, released after almost 50 days in captivity by Hamas, return to Bangkok, reuniting with overjoyed families. The release, separate from the ongoing agreement involving Israeli hostages, sparks renewed optimism for the remaining nine Thai captives. Families eagerly await the return of their loved ones as the truce extension raises hopes for further releases. The freed workers, part of Israel's large migrant labor force, express gratitude and relief upon returning home.
Pope Francis Plans Eviction of US Cardinal Burke Over Criticism
Pope Francis is set to evict outspoken US Cardinal Raymond Burke from his Vatican apartment and revoke his salary, citing concerns about enjoying cardinal privileges while openly criticizing the head of the Catholic Church. The decision, seen as unprecedented in the Francis era, reflects the Pope's frustration with conservative detractors in the US who oppose his reform plans. Tensions between Pope Francis and Cardinal Burke have been simmering for nearly a decade, with the Pope perceiving Burke as fostering a cult of personality around traditionalism. The move is expected to deepen divides within the Vatican and the US church.
Entertainment
Sean 'Diddy' Combs Temporarily Steps Down Amid Sex Assault Lawsuits
Amidst three sexual assault lawsuits, rap mogul Sean 'Diddy' Combs temporarily steps aside as chairman of the co-founded TV network, Revolt, emphasizing that he had no "day-to-day role in the business." Accusations, including rape and abuse, were made by R&B artist Cassie, leading to settlements, followed by two other accusers. Combs denies the claims, calling them a "money grab." The move raises questions about his return as chairman, while legal actions coincide with the expiration of New York's Adult Survivors Act.
Nigerian Star Rema Cancels December Shows for Health Recuperation
Nigerian music sensation Rema cancels all December shows, citing the need to focus on his health after neglecting it due to constant tours. The Afrobeats star, known for the global hit "Calm Down," acknowledges the physical and mental toll of touring and expresses gratitude for the support. His decision is met with praise from fellow Nigerian artist Davido, recognizing Rema's outstanding achievements in 2023, including chart records and awards at the Billboard Music Awards.
Teni Denies Liposuction Rumors, Attributes Weight Loss to COVID-19 Battle
Nigerian singer Teni dismisses rumors of undergoing liposuction for weight loss, revealing that her transformation resulted from a strict two-month diet after surviving two bouts of COVID-19. Expressing disappointment at persistent speculation, she emphasizes the challenges and sacrifices made during the weight loss journey. Teni, known for her dedication to natural methods, highlights the importance of mental discipline and addresses concerns about surgery risks, stating that she was scared of undergoing such a procedure.
Asake Reigns as Nigeria's Most-Streamed Artist on Spotify in 2023
YBNL's Asake claims the title of the most-streamed artist in Nigeria on Spotify for the year, outshining megastars Burna Boy and Davido. Asake's victory is solidified by three of his songs securing positions in the top 10 most-streamed tracks. "Lonely At The Top" secures the top spot, while his albums, "Work of Art," and "Mr. Money With The Vibe," contribute to his remarkable achievement. Ayra Starr takes the crown as the most-streamed female artist, marking a record-breaking year for Nigerian artists on Spotify.
Opportunities
Call for Essays: OxBright Essay Competition 2024 (£100,000 in Academic Prizes)
Test your academic skills in the OxBright Essay Competition for bright 15-18 year olds. Challenge yourself beyond the school curriculum and contemplate the future of your chosen subject. Deadline for submissions: March 31, 2024. Apply here.
Knight Science Journalism Program at MIT 2024-2025 ($85,000 Stipend)
Explore science, technology, and journalism with the Knight Science Journalism Program at MIT. Open to science journalists globally, this program offers academic-year fellowships with an $85,000 stipend. Enhance your expertise and learn at top research universities. Deadline for applications: January 15, 2024. Apply here.
Entrepreneurship World Cup (EWC) 2024 (Over $1 Million in Prizes + Investment Opportunities)
Is your company addressing global challenges? Apply for the 2024 Entrepreneurship World Cup by the Global Entrepreneurship Network. Seize the opportunity to win over $1 million in prizes and explore investment opportunities. Deadline for applications is May 31, 2024.
NG-CARES Batch 2 Grant Program for MSMEs
NG-CARES Grant Programme Batch 2 is back! Targeting Micro, Small, and Medium Enterprises impacted by COVID-19, this program aims to safeguard livelihoods and support economic recovery. Apply to mitigate the local impacts of the global pandemic. Apply here.
WeNaija HPV Vaccine Video Contest 2023 (Up to ₦5 Million in Prizes)
Participate in the WeNaija HPV Vaccine Video Contest 2023 and contribute to raising awareness about HPV vaccines. Submit a 30-120 seconds original video through your preferred social media platform. Stand a chance to win up to ₦5 million in prizes. Deadline: November 30, 2023. Submit your entry.
Hitachi Innovation Challenge for Digital Circular Economy
Join the Hitachi Innovation Challenge for Digital Circular Economy and partner with a tech industry leader. Share your business solution to contribute to a better planet. No matter where you are, this is your chance to develop a business partnership with Hitachi, a global group. Deadline for submissions is January 14, 2024.