• Wednesday, December 06, 2023
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Five things to know to start your day

Five things to know to start your day

World Bank lists Nigeria, nine others as countries with high debt risk exposure

The World Bank has stated that Nigeria is among a list of top 10 countries with high debt risk exposure.

It stated this in the financial statement for the International Development Association (IDA), which was among the World Bank 2021 audited financial statements released on Monday.

Nigeria was rated fifth on the list with $11.7bn IDA debt stock, while India led the list with $22bn IDA debt stock, followed by Bangladesh with $18.1bn IDA debt stock, Pakistan with $16.4bn IDA debt stock, and Vietnam with $14.1bn IDA debt stock.

Dangote, only Nigerian on 500 billionaires list, with $17.8bn

The latest data from the Bloomberg Billionaires Index showed that Aliko Dangote was the only Nigerian on the list of 500 billionaires on Tuesday.

The index, which polls the net worth of the richest 500 people in the world and updated by the close of trading at the New York Stock Exchange, showed that as of 6:19 pm Nigerian time on Tuesday, Dangote, ranked 115th, was the richest African and the only Nigerian on the list with a net worth of $17.8bn, up from $14.8bn the previous year.

Marketers blame forex, importation as Jet A-1 hits N315/litre

Heavy reliance on importation and weak Naira-to-Dollar exchange rate have been blamed for the spike in aviation fuel, currently pegged at N315/litre.

Fuel marketers, yesterday, said besides the local charges and fees that are fixed, fluctuations in the global price of crude oil and the exchange rate would continue to affect the price of fuel, until there is a renewed effort to refine the product locally.

Read also: Dangote Cement’s profit hits record-high on increased sales

Findings showed that the essential commodity lately sold for N315 per litre at airports in Northern parts of the country and above N220 in the South. The rate is an upward review from N215 and N300/per litre in the Southern and Northern airports, about a month ago.

Dangote Cement lists N150bn bonds on NGX

The Nigerian Exchange Limited said on Tuesday that Dangote Cement Plc listed three N50bn tranches of bonds under the N300bn Debt Issuance Programme.

According to the NGX, the bonds are 3.64 million units of a three-year 11.25 per cent senior unsecured fixed-rate bond due 2024; 10.45 million units of a five-year unsecured fixed-rate bond due 2026; and a seven-year 13.50 per cent senior unsecured fixed-rate bond due 2028.

FG allays fear over assorted vaccines as 176,000 doses of J&J arrive today

As concerns mount over the different brands of vaccine being imported amid resurgence in confirmed cases of COVID-19, the National Primary Healthcare Development Agency (NPHCDA), yesterday, said it was, in conjunction with the National Agency for Food and Drug Administration and Control (NAFDAC), deploying tracking and tracing technology to monitor the four million doses of Moderna vaccine at all health facilities where the vaccines would be administered.

Rollout of the Moderna vaccines begins next Monday, while Nigeria will today receive 176,000 doses of Johnson and Johnson (J&J) vaccines out of the 29,850,000 doses that the Federal Government procured from the AFREXIM Bank through the African Union.

Executive Director/CEO of NPHCDA, Faisal Shuaib, while briefing newsmen yesterday in Abuja, disclosed that the doses are meant for persons who live in hard-to-reach areas as this way, they can be given a single shot of the vaccines and get fully vaccinated instead of other vaccine types that are of two doses.