Bavijas Weekly – June 28, 2023

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Happy Eid al-Kabiru and welcome to the midweek edition of the Bavijas newsletter.

Intro: President Tinubu returns from a two-day official visit to France where he attended the New Global Financing Pact Summit hosted by President Macron in Paris. At the event, HE Tinubu explored financing networks from which to tap FDI. 

With me is Daniel Bassey, a talented co-editor, to take you on this informative bliss ride. So enjoy!

OUR TOP PICKS TODAY:

👷‍♂️ Works on Lagos-Ibadan expressway.

Federal Ministry of Works and Housing announced the one-week suspension starting today to ease the corridor amidst heavy traffic resulting from Muslim faithfuls travelling for the Sallah celebration.

🌎 Companies will face more pressure.

Oil companies will now be required to disclose how climate change affects their business under a new set of G20-backed global policies aimed at helping regulators crack down on greenwashing.

🇷🇺 Putin vows to crush the Wagner group.

Yevgeny Prigozhin, the mastermind of the Moscow nightmare and chief of the Wagner Chief has been exiled to Belarus - with all charges levelled against him dropped. 

🇺🇦 ”No need to expect action from Russia and buy popcorn.”

Ukraine’s presidential spokesman Podolyak made that statement days back, suggesting his country is planning a big offensive against Russia for its unjustified aggression against Ukraine.

🌳World leaders aren’t honouring commitments. 

They’ve failed to uphold a key commitment to halt and reverse deforestation in pristine rainforests by 2030,  _as cases of deforestation soared in 2022 in a report compiled by the World Resources Institute.

📉 Daily demand for crude oil to reach 110M bbls by 2045, OPEC says.

That's about a 23% increase from the current level, though IEA sees the opposite. _Mind you, fossil fuels will continue to be in use for the foreseeable future regardless of what._

🚙 *lSet up assemblage or pay more on duties.

 That's the dilemma Africa's sluggish economic giant Nigeria finds itself. An upward FX rate review by Nigeria Customs push up duties on vehicles by 20%. Don’t you think it’s time to drive local brands? They aren’t as bad as you think.

🇮🇷Iran to launch its first-ever Nuke?

A controversial foreign report reveals the country is prepping a nuclear launch, perhaps that's why the U.S. is hasty to resume talks on the nuclear deal. America is both “afraid and smart”.

🏦 WB: Countries facing disaster can now enjoy debt pause.

World Bank boss Ajay Banga says that countries be allowed to defer debt servicing on loans they owe the bank to enable them to recover economically. But I know of a country that will like more disasters than pay debts.

🛩️ It's now called Muhammadu Buhari Airport. President Tinubu approved that 15 federal airports be named after prominent Nigerians. Maiduguri airport was named after outgoing Nigerian leader Buhari, while PH airport was named after the late Obafemi Awolowo.

🇳🇬Energy Adviser to President Tinubu meets Power Ministry.

Ms Olu Verheijen had a brainstorming session with stakeholders in the ministry last Thursday on the roadmap to cure the Nigerian power sector of its perennial and seemingly incurable power problems. 

Before you go,

Remember our monthly quiz holds this Friday by 8pm Nigerian time.

Be nice,

Edited by Victor Bassey &

Daniel Bassey

Source: Bavijas Consulting

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For more enquiries: Phone/WhatsApp via (+234) 07085476063

Photo credit: State House/Nosa Asemota

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