Monday, July 20, 2020

Oil prices fall as virus infections rise, eyes on EU recovery plan


Oil prices on Monday fell as coronavirus cases increased in many countries across the globe, however investors remained cautiously optimistic about ongoing talks over a European Union-wide recovery fund to revive economies affected by the pandemic.

Brent crude LCOc1 was down 24 cents, or 0.6 peercent, at 42.90 dollars per barrel by 0943 GMT while U.S. West Texas Intermediate (WTI) CLc1 slipped 23 cents, or 0.6 per cent, to 40.36 dollars.

`As things stand, prices are not likely to produce any sizeable gains very soon, until a signal that the pandemic slows down.“And even though in Europe the virus has been cornered, the Americas and some Asian states have still a long way to go,” Rystad Energy’s head of oil markets Bjornar Tonhaugen, said.

According to a Reuters tally, over 14.5 million people have been infected by the novel coronavirus globally and over 604,000 have died of COVID-19, the disease caused by the pathogen.

Investors are looking to the EU summit for trading cues, with leaders showing the first signs of compromise over carving up a proposed 750 billion euro (858.30 billion dollars) recovery fund to revive economies.

Japan’s oil imports fell 14.7 per cent in June from the same month a year earlier, official figures showed.

The drop was not as pronounced as in May when they fell 25 per cent, year on year.

“Also underscoring the impact of the virus, Japan’s exports plunged 26.2 per cent in June from a year earlier,’’ ministry of finance data showed on Monday.

While fuel demand has recovered from a 30 per cent drop in April after countries around the world imposed strict lockdowns, usage is still below pre-pandemic levels. U.S. retail gasoline demand is falling again as infections rise.

“We recognise that further improvements in demand will be difficult to achieve, but also do not expect a return to April and May lows,” JBC said in a note.

Rising tension between China and the United States also put pressure on prices.

On Sunday, China’s embassy in Myanmar accused the U.S. of “outrageously smearing” the country and driving a wedge with its Southeast Asian neighbours over the contested South China Sea and Hong Kong.

Saudi Arabia’s 84-year-old ruler, King Salman bin Abdulaziz, has been admitted to hospital, suffering from inflammation of the gall bladder.

The king has ruled the world’s largest crude oil exporter and close U.S. ally since 2015. 


(Reuters/NAN)

Millions of Naira worth of property destroyed as Kano gov’t embarks on demolition of illegal structures at Sabon Garri market




Property worth several millions of Naira were destroyed, Sunday night, as Kano State government embarked on the demolition of makeshift shops and attachments along the popular Mallam Abubakar Rimi (Sabon Garri) market in the state capital.

The late night operation, which was directly executed by officers of the Kano State Road and Transport Agency (KAROTA) had back ups from sister security agencies such as the police, Department of State Services and the Nigeria Security and Civil Defence Corps.

Heavily affected by the demolition are irregular structures, attachments and shops on the walkways and the frontline of the market, along Igbo Road by market, Bata Junction by Murtala Mohammed Way, up to Yankura end of the market.

The affected traders included delears in accessories, interior decoration materials, fabrics, second- hand clothings and shoes, fruits, vegetable sellers, fish and meats sellers, including petty service providers such as hair dressers, nail fixers, among others.
Most of the victims, who were alerted by phone of the demolition exercise, were dazed at the extreme level of destruction recorded against them by the officials of KAROTA.

Meanwhile,tension is brewing around the market area as the affected traders have objected to the cold destruction of their means of livelihood.
It was gathered they burnt tyres in display of anger against the action of the state owned agencies, a demonstration which resulted in the closure of the biggest market in the state in the early hours of the day.
The spokesman, Kano State Road Transport Agency told Daily Sun that they were clearing illegal trading structures situated along roads and walkways in the state, sayingthat these structures were obstructions to traffic in the state.

He stressed that the exercise which started on Friday, would be extended to different parts of the state in the coming days, while disputing clais that the traders were given a very short notice.

“We notified the traders about six months ago and we would have since chased them out a long time ago, if not for the COVID-19 pandemic which stalled activities in the state” he stated.



Fayemi congratulates Olorunyomi on Press freedom award



Ekiti State Governor, Kayode Fayemi, has congratulated renowned journalist and Co-founder/ Publisher of Premium Times, Mr. Dapo Olorunyomi, on his emergence as one of the four awardees of the International Press Freedom Award, 2020 by the Committee to Protect Journalists (CPJ).

Olorunyomi won the CPJ award along with three other journalists from Bangladesh, Iran and Russia.

Fayemi, in a statement signed by his Chief Press Secretary, Yinka Oyebode, in Ado-Ekiti on Sunday, described the award as another feather to Olorunyomi’s cap and a befitting honour to the renowned journalist’s years of commitment to journalistic excellence and press freedom.

The Governor attested to Olorunyomi’s prowess as a first class Nigerian journalist who, through dint of hard work, has built global reputation and set a high standard in investigative and development journalism.

He said the 2020 International Press Freedom Award was thus an icing on the cake for Olorunyomi’s glorious career, having dedicated the last three and a half decades to the practice of the finest brand of journalism.Fayemi said: “hearty congratulations to our own Dapo Olorunyomi on this recognition by the Committee to Protect Journalists (CPJ) as one of the awardees for the 2020 International Press Freedom Award.

“This certainly didn’t come as a surprise to many of us as Dapsy has over the years demonstrated his penchant for journalism as a tool for development, freedom fighting and nation building.

“While we congratulate Olorunyomi for this honour, the challenge before him now is to commence a deliberate mentoring of younger crop of journalists in development journalism. This he owes our country and his teeming admirers as we pray for his tribe to increase.”



America’s Coronapocalypse...America facing big surge in coronavirus cases




There’s no other way to say it, so let me just speak frankly. Thanks to Donald Trump’s stunning lack of leadership, America’s in a state that can only be described as free fall. 

Rarely in history has a nation descended into chaos, depression, despair, and mass death at all.
But this fast? It’s unprecedented — outside of true authoritarian implosions, that is.

How bad are things in America? Unbelievably, shockingly, incredibly bad. Let’s begin with Coronavirus, and then proceed through economics, to politics and society.

America recorded its highest number of cases ever on Saturday. 76,000. Seventy six thousand. 

That’s edging perilously close to the threshold at which a society breaks down — somewhere north of 100,000 or so. At that point, schools and universities shut down, hospitals are overwhelmed, depression sets in, job losses go permanent, there’s a widespread and long-term loss of confidence, faith, and trust. “Wait,” you might say, “all of that’s already happening!” Exactly. The threshold is being reached, day by day. A vicious spiral of social collapse is now setting in.

So how bad is 76,000 new cases a day — apart from igniting a chain reaction of social collapse — in global terms? America still has the highest number of new cases in the world — higher than Brazil’s 50K, or India’s 30K. where individual Red States have worse outbreaks than many of the world’s poor countries with far higher populations. Florida, for example, has close to 15,000 new cases alone. That’s more than Pakistan, where even if you quadruple the official number, 2,000, Florida’s close to more than twice that.

The EU — as a whole — had about 5,000 new cases. America has more than fifteen times the number of cases Europe has. Texas alone had more than twice the number of cases — at more than 10K — than the entire EU. The population of Texas is 7% of the EU’s.

Coronavirus is a catastrophe of epic, surreal, nightmarish, global proportions in America. 

America is now the world’s biggest Coronavirus incubator — and its greatest failure. Sure, Brazil and India are about to give it a run for its money — but that isn’t saying much, only getting to the root of the problem. All these countries have authoritarian, nationalist, neofascist leaders — whose supremacist, Darwinist pseudo-philosophies — the weak must perish so the strong survive — have allowed a lethal pandemic to go thermonuclear.

That brings me to deaths. There was a faction of Americans who, just a few weeks, ago, seemed to glibly believe that even if the virus ticked back up, deaths wouldn’t. The unspoken reasoning was, again, Social Darwinist: “All the weak — the elderly, frail, sick — have been killed off! The death rate won’t go back up! So there’s nothing to worry about!” This was the illogic and amorality of the American Idiot at its most egregious.

The death rate is now spiking back upwards.

After falling to a low of about an average of 500ish per day, it’s back to close to 1,000.

The death rate lags the infection rate by about two to three weeks. And so as the virus exploded in America over the last two to three weeks, it was eminently predictable that the death rate was going to spike, too. That is exactly what happened: after a short lag, deaths are now exploding all over again. They are going to continue exploding, just like the daily infection numbers are.
Why? Because Covid is a lethal virus. In America, it has a mortality rate of up to about five percent so far. Now, perhaps that number doesn’t take into account those with Coronavirus who haven’t been tested. Go ahead and make that number lower. 4%. 3%. Fine — half it. 2.5%. That’s still shockingly high. That’s orders of magnitude more deadly than the flu. It’s not the flu. It’s deadly. It doesn’t just kill off the elderly and weak. It kills, period. Sure, you might have a smaller chance of dying if you’re young and strong. Or you might not, depending on how much of a dose you get, and how fast you get treatment. Covid is not the joke it’s been made out to be.

That brings me to political leadership. Nobody much in America seems to have done the most basic work when it comes to understanding Coronavirus, certainly not its leaders. Why isn’t the mortality rate to date — which is unbelievably high — the stuff of everyday knowledge? Even if you want to halve it, by imagining that testing isn’t widespread enough to establish a decent estimate, you still get to a mortality rate of 2.5 percent.That’s still…shockingly high. The flu, by contrast, has a mortality rate of about 0.1%.

And yet when that kind of basic knowledge hasn’t sunk into people’s brains — especially American Idiots — you can expect that people won’t understand they’re playing with fire, and they’re going to get burned.

Nobody is discussing these basic facts because, well, even the good guys are too busy trying to fight the Idiot-in-Chief’s stupidity. A decent President — just a sane and civilized human being, whatever their politics — would have said three things by now.

“This is not the flu, my fellow Americans. This is a killer virus with a mortality rate fifty times that of the flu. You are at real and serious risk of dying, and so are your loved ones. It does lasting damage, too. You don’t want to get this virus. Everything you do these days should begin with that. And then you should think: you don’t want to spread this virus, either. We are in serious trouble, and we need to work together now to get out of it.”

But Trump, of course, hasn’t said any of that. He’s done just the opposite — denied, minimised, pretended it will magically go away, told people to drink bleach…and then he’s headed off to the golf course. What the? So of course Americans have no idea how bad Coronavirus really is — who’s telling them? Not their President. Not their political leaders. And I don’t read about it in the pages of American media, either.

Hence, without an understanding of how deadly and serious this disease really is, three fatal things have happened.

One, America still has no national strategy to beat the virus — without which it will just go on exploding, which is what global success stories like New Zealand and South Korea tell us, having had swift, decisive national strategies. America’s having a Coronapocalypse precisely because even now there’s nothing — nothing — resembling a national strategy of best practices.

Two, the American Idiot has free reign, since there’s no general understanding that yes, Covid really is a killer virus. Just some days ago, the governor of Georgia made it illegal to make people wear masks. Wait, what? Made it illegal not to wear a mask, surely. Nope — to make people wear one. This is the kind of thing that drops the jaws of my friends from…everywhere. Canada, Europe, Asia, Africa.

But the American Idiot is spreading this virus. The American Idiot has turned America into the world’s greatest viral incubator, precisely because there’s no real understanding in America of how deadly Covid is, and so the American Idiot can respond with his usual…idiocy. “Freedom! It’s not a big deal! It’ll go away! Stop being such a p*ssy!! Man up!!”

Somebody needs to say right back to this kind of massive, massive idiot…the truth. Corona is a lethal virus with a shockingly high mortality rate which does lasting and serious damage even if you survive it. It is not a joke. It is like a tiny nuclear bomb: something with the power to wreck a society.

That brings me to my third point. America now stands on the brink of lasting and historic ruin.
While we’ve all been focused on how fast and far the virus is spreading, economically, a shocking and terrible thing has happened. Unemployment claims have stayed north of a million per week…since the pandemic began. This week, again, they came in at 1.3 million.

These numbers are astonishing, jaw-dropping, unreal. How many Americans is that, unemployed now? Easily north of 25%. The weekly numbers are coming in so fast that it’s impossible to say for sure. For now, it’s a Biblical deluge of economic pain with no end in sight.

What does a sudden wave of mass unemployment do? It causes a sudden stop in spending. While much is made of retail sales going back up, that’s neither here nor there — real personal consumption expenditures have fallen off a cliff, and aren’t at anywhere near normal levels. The reason for that is simple: people are getting poorer, as their jobs simply disappear.

As consumption falls, businesses shutter their doors, for good, especially the small and medium sized ones which are the backbone of a healthy economy. There are clear signs that’s beginning to happen, too.

And as that happens, unemployment goes permanent. An economy is poorer for the long-term, less dynamic, creative, fulfilled, employed, able. Bang! Now there’s a depression — another kind of chain reaction, falling spending leading to bankruptcies which causes unemployment and so on. And that Biblical deluge of economic pain, like the pandemic, is almost impossible to stop, too. At least without a plan. Yet just as there’s no plan to end the pandemic in America, there’s no plan to end the economic pain, either. The $600 a week some Americans — too few — are able to get, after much difficulty, is about to come to an end. They were only offered one week in additional support, anyways. Contrast that with Europe — where, for example, in France, people were furloughed at 80% of their incomes up to about $10K a month, or Italy, which froze mortgage payments and rents. The Trump Administration and Congress have done literally the least they could get away with in America, and the result is that a depression is now very clearly emerging.
And there’s no plan to offer economic help now, at the precisely the moment it’s needed most — when the virus is going thermonuclear, and the tiny, tiny aid package offered a few months ago is running out. What happens then? A massive depression does, just like the which is obviously beginning to hit now. Walk down the street and tell me how many local shops are closed. How many are never going to reopen. Tell me you feel happy and safe and confident spending money these days. I didn’t think so.

America’s in free fall. It’s having a public health crisis, an economic crisis, a social implosion, and a political implosion all at once. And all those things have been brought to you by Donald Trump, whose negligence, irresponsibility, recklessness have allowed them to flourish. He’s had plenty of help from his Army of American Idiots, too — who believe free-dumb is the right to get and spread a deadly virus, like Georgia’s flagrant moron of a governor, who made it illegal to make people wear masks. Trump and his Idiot Army have made America into something even worse than a Third World Country — which is a mildly insulting term, I’m told, but let’s go with it. Even far, far poorer countries are doing better than this combination of catastrophes.
None of this is happening anywhere else in the rich world. It is only happening in countries run by men like Trump — Brazil, India, Russia. But sane and civilized societies? Canada, Europe, New Zealand? They look at America with a kind of horrified disbelief. My European friends literally don’t believe me when they ask, and I try to tell them the state of play in America, because it’s not been allowed to happen in their happier nations. It’s literally beyond their capacity to process. They stand there, dumbstruck.

And yet even far, far poorer countries like Vietnam, or rising ones, like South Korea have beaten back the virus, and are lifting their economies back up. Nobody in the world is in free fall like America.

But America is led by a Psychopath-in-Chief, who’s backed by an Idiot Army, who are fighting for the virus, its depression, its social implosion — not against all that. And so how much more pain is yet to come? Economic, human, social, psychological? So, so much.



*Umair Haque first published this article in Medium on 18 July

PHOTO:- Critics wrong, Buhari fully in control of his administration – Presidency


Buhari’s critics due process - Presidency
President Buhari

The Presidency on Sunday responded to a number of opinion articles and a stringent newspaper editorial, describing as outrageously, insinuations that  President Muhammadu Buhari was not in control of his administration.

“As many detractors have done lately, these “influencers,” “celebrated columnists” and “editorial comments” do no more than endorse the opposition’s utterly wrong and fallacious position that the President is not in charge of his government,” Garba Shehu, the Senior Special Assistant (Media & Publicity), said in a statement.

“Sometimes, we are forced to wonder whether some writers are mindful of the implication of words for the strategic and territorial interests of the nation,” he lamented.

The rest of the statement reads:

“An entrenched culture of dissent in our country is not something that anyone, not  least a Buhari Presidency wants to stamp down.

The fact that these baseless and appallingly mischievous attacks can freely be aired is itself evidence of the right to freedom of expression prevailing in the country today.

Whether it is Ibrahim Magu, Godswill Akpabio, NDDC, NSITF and the others, Nigerians are bound to hold differing opinions, write letters, opinion columns, editorials and even stage lawful protests.

What is sometimes worrisome is that several of these comments, disguised as objective criticisms are merely speaking the language of the opposition-the people who ruined the country during their 16 years of corruption on an industrial scale.

These detractors pick up isolated issues like the ones in the EFCC,  NDDC, and incidents of crime and corruption which have been with the country for years, and without any serious effort to uncover them,  paint them a phenomena orchestrated and happening because President Buhari’s administration has decided to pursue cases of suspected wrongdoing in the anti-corruption agency, pension funds, NDDC and other government agencies.

But the government was the first to point out the obvious embarrassment that potential acts of wrongdoing by the EFCC leadership would cause the administration. The question to ask is: did they expect the President to draw a curtain over these suspected scandals by not ordering audits and investigations? And for them to turn around to accuse him of a cover up?

To do a cover up and not order audits and investigations as the President did would amount to a historic betrayal of the mandate and the faith placed in him by the Nigerian people.

President Buhari’s integrity, uprightness and probity are intact and well known. Let us remind these so-called editorial writers that ECOWAS, Africa Union and the international community at large recognized President Buhari as Champion of the Anti-Corruption fight in Africa.

Nigerians are convinced that he is honest. They voted for him as President against the background of corruption, public policy paralysis and growing menace of terrorists threatening to take over a sizable portion of the nation’s territory. In his five years in office, there is not a single charge of corruption against his person.

As the leader of the country, President Buhari fully understands and bears the full weight of the solemn oaths he swore to defend the nation’s constitution, its citizens and territory. Disinformation is not a viable option for opposition. The Buhari government has done nothing to warrant these criticisms. Under our laws, you are innocent until proven guilty: Investigation, trial then conviction. Not the other way round. To carry out investigations before condemnation or conviction should not be misconstrued as a weakness or a vacuum in leadership.


The war against corruption is today at historic crossroads. This is the time  all Nigerians should stand together to roll it back. 

President Buhari is determined not to be diverted by unfounded attacks, neither would he compromise the sacred mandate of Nigerians. He is determined to get justice for Nigerians on all these corruption cases being pursued.”

Kanye West cries, rambles at first presidential rally


Kanye West crying at his rally

By Agency Reporter

Rapper Kanye West ranted against abortion and pornography, argued policy with attendees and at one point broke down in tears, at his first presidential rally in South Carolina.

West, 43, a former supporter of President Donald Trump has left voters befuddled over whether his campaign is genuine or a publicity stunt to help sell albums or merchandise.

At the rally in Charleston’s wedding venue and convention centre, he largely rambled in his speech that lasted just over an hour.


He denounced abortion, swore, called on random members to speak, appeared to be putting forward policy proposals on the fly.

He made comments that left even those in attendance muttering in disbelief.

“Harriet Tubman never actually freed the slaves. She just had the slaves work for other white people,” he said at one point when discussing economic inequality.

The event, which was livestreamed on YouTube and carried on local television stations, did little to clarify whether West is genuinely attempting to win the presidency. The campaign he launched with a July 4 tweet has already missed several deadlines to appear on key state ballots.

At times, he even seemed to suggest he was more interested in disseminating a message than winning the presidency.

“Freedom does not come from an election. The freedom comes from you not loading up the pornography. The freedom comes from you not taking the Percoset,” he said at one point.

West appeared on stage with “2020” shaved into the back of his head and wearing what appeared to be a military-style vest. 

He argued that abortion should be legal but heavily discouraged, suggesting he would promote a policy as president that anyone who gives birth to a child be given $1 million “or something in that family.”

West referred to the Bible and Christian teachings multiple times, and broke down in tears at one point while describing how he was nearly aborted by his parents.

“The only thing that can free us is by obeying the rules that were given to us for a promised land,” he said.

“Abortion should be legal because guess what? The law is not by God anyway, so what is legality?”

The event carried few similarities with typical polished candidate events.

The venue appeared to lack audience microphones, so West repeatedly told the crowd to be silent so audience members he called on could be heard.

2020/2021 session: JAMB announces date for commencement of admissions

 


Prof. Ishaq Oloyede, JAMB Registrar

The Joint Admissions and Matriculation Board (JAMB) has approved August 21 for tertiary institutions to commence first and second choice admission for the 2020/2021 session.

This was announced in the 2020 admission guidelines signed by JAMB’s Registrar, Is-haq Oloyede, on Sunday

The board, however, warned institutions not to bypass the Central Admission Processing System (CAPS), through which admissions must be conducted.

“The 1st and 2nd Choices Admission-Exercise be conducted for all institutions from 21st August 2020 to a later date that would be determined by the Federal Ministry of Education and communicated to all the institutions.

“All applications for admissions to First Degree, National Diploma, National Innovation Diploma, and the Nigeria Certificate in Education into Full Time, Distance Learning, Part-Time, Outreach, Sandwich, etc, must be processed ONLY through the Joint Admissions and Matriculation Board (JAMB),” the statement read in part.

Last month, JAMB approved 160 and above as 2020 national minimum cut-off marks for admission into public universities. 

The board also approved 140 as a minimum UTME score for admission into private universities.

Women’s World Cup: Canada names squad to face Super Falcons, others

Canada has named their squad to play at the FIFA Women’s World Cup in Australia & New Zealand. Led by Head Coach Bev Priestman and capta...