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☕️ Who wants constant power? 

☕️ Who wants constant power? 

The Rural Electrification Agency in partnership with the Central bank...

 

Good morning. What is your word for this year? For the first time, two dictionary companies — Merriam-Webster and Dictionary-com — declared the same word as their tops: pandemic." Meh.


What's my own word? 2020. Beat my choice!
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☕️QUICK BITES

Nigeria. Ngozi Okonjo-Iweala has been named Forbes Africa Person of the Year 2020. Okonjo-Iweala was Nigeria’s first female minister of finance and is the prime candidate for the office of the director-general of the World Trade Organisation.
Science. DeepMind, the British AI group owned by Alphabet, cracked a 50-year scientific problem related to "protein folding." It's being called a breakthrough moment for the field.

Cryptocurrency. Bitcoin, the world's largest cryptocurrency, hit an all-time high of almost $20,000, summiting the peak it set about three years ago. Analysts point to greater commitments from big finance players—like PayPal and Square—for driving last month's 40% rally.

United States. President-elect, Joe Biden has appointed Nigerian-born attorney, Adewale Adeyemo, as Deputy Treasury Secretary. Before the appointment, he was the president of the Obama Foundation and former economic adviser to 44. He'd be the first Black man to serve as deputy secretary.

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‍#ONTHISDAY

2018 Nigerian President Muhammadu Buhari denies he has died and been replaced by a Sudanese impostor, a certain Mr. Jubril, after ill health.

1804 Napoleon Bonaparte is crowned Emperor of France in Paris.

1941 Pearl Harbor Attack - Japanese Marshal Admiral Yamamoto sends his fleet to Pearl Harbor. This event got the United States involved in World War II.

1960 Paleoanthropologist Louis Leakey discovers 1.4 million year old Homo erectus (Olduvai Hominid 9) in Olduvai Gorge, Tanzania.

1971 Zayed bin Sultan Al Nahyan is appointed President of the United Arab Emirates. He is the responsible for the formation and transformation of the country.

2008 Ballon d'Or: Manchester United's Portuguese forward Cristiano Ronaldo wins his first award as best football player in the world; Barcelona forward Lionel Messi 2nd, Liverpool striker Fernando Torres 3rd.

ECONOMY

Who wants constant power? 

 

Image Source: Nairametrics

The Story

Nigerians generally seem to have given up on constant power supply in their lifetime, but there may be a ray of hope with a new project coming from the federal government.


You can't be serious.
Nigerians living in areas that are under-served or cut off from the national grid are being incentivized to own solar panels with weekly payments from as little as N1,500 per week to N4,000 per month -- depending on the plan -- for 3 years. While speaking on the government's plan, Senior Special Assistant to the Vice President on Media and Publicity, Laolu Akande, said the programme nicknamed Solar Power Naija, would commence in December.

Who is in charge of this?

The Rural Electrification Agency in partnership with the Central Bank of Nigeria, which would facilitate soft loans for persons who might struggle to pay. The Presidential media aide, who pointed out that the programme was designed to boost ongoing efforts to fix Nigeria’s energy supply challenge, said that priority would be given to Nigerians residing in rural areas and urban settlements either under-served or cut off the national grid.

More benefits.
In addition to aiding access to constant power supply for Nigerians, the project is one that would help in other areas, like in the country's control of climate change. More so, due to the scale of the project, the government expects that 250,000 jobs will be created from it. If properly implemented, this should help provide affordable energy to under-served Nigerians, and help in improving social, economic, and environmental welfare of up to 25 million Nigerians. SOURCE

ECONOMY

CBN tweaks remittance rules

Image Source: ThisDay

The Story
The Central Bank of Nigeria (CBN) has announced a review of the rules governing the receipt of remittances from the diaspora.

What's the review, and why?
In an effort to address the issues surrounding foreign exchange in the country, the Central Bank of Nigeria has announced that beneficiaries of diaspora remittances through the international money transfer operators (IMTO) shall now have such inflows in foreign currency (US Dollar) through the designated bank of their choice.

What has changed?
The apex bank in a statement signed by O.S. Nnaji, director of trade & exchange of CBN, said recipients of such remittances may have the option of receiving these funds in foreign currency 'cash' or into their domiciliary account. “These changes are necessary to deepen the foreign exchange market, provide more liquidity and create more transparency in the administration of Diaspora remittances into Nigeria,” the statement read.

More flexibility?
Yes, that's what the review suggests. “In addition, these changes would help finance a future stream of investment opportunities for Nigerians in the Diaspora, while also guaranteeing that recipients would receive a market reflective exchange rate for the market", the statement read. The CBN also noted that beneficiaries shall have unfettered access and utilisation to such foreign currency proceeds, either in cash or in their domiciliary accounts. SOURCE

HEALTH

Malaria is the enemy

 

Image Source: mydr.com

The Story
While Africa, unlike others, has been relatively less affected by the coronavirus pandemic, the World Health Organization has called attention to another concern for the continent.

What is it?
The World Health Organisation says that the number of deaths due to malaria could far exceed that of the covid-19 pandemic in Sub-Saharan Africa this year. In a new report published Monday, the WHO said that the particular attention given to the covid-19 pandemic worldwide has overshadowed the malaria control process.

The figures?
Even though Africa has managed to reduce malaria mortality by 44% in 20 years (from 680,000 deaths per year to 384,000), the funding gap is likely to significantly undermine the progress made so far. WHO said disruptions in access to malaria treatment could result in up to 100,000 more deaths than the death toll already recorded each year on the continent.

How has coronavirus impacted the malaria control process?
One reason for this pessimism is the interruption in the manufacture of antimalarial drugs - caused by the lockdown and search for a coronavirus vaccine - in the main countries where they are produced, such as India. When the pandemic broke out, many voices had been raised calling on leaders to continue fighting against the serious diseases that existed before the coronavirus.

In May, the WHO warned that the number of deaths caused by malaria on the African continent could double this year to 769,000, a record in 20 years. Malaria killed 409,000 people worldwide in 2019, with more than 90% of the deaths in Africa and specifically the sub-Saharan region. SOURCE

INTERNATIONAL

China has reached a major milestone in ending absolute poverty

Image Source: CNN

The Story
Despite reaching a major milestone this week in a five-year long fight to end absolute poverty across the country, China's President, Xi Jinping, doesn't appear to be celebrating yet.

Tell me about it.
China was for decades one of the world's most impoverished countries, and ending absolute poverty has been an important policy goal for Xi. The Chinese leader pledged to meet his target by the end of 2020, and establish a "moderately prosperous society" ahead of the 100th anniversary of the founding of the Chinese Communist Party in July next year.

Absolute poverty, in China, is defined as surviving on less than 2,300 yuan ($350) per year. Over the past 40 years, China has moved from a primarily agrarian economy into one of the world's most rapidly urbanizing countries.

Impact of Xi's policies.
As people are drawn to the cities, leaving rural communities with shrinking populations and fewer job opportunities, Xi's poverty alleviation policies have focused on the countryside. As part of this, Beijing has worked to end absolute poverty in 832 "impoverished" counties across China since 2014. On Monday, state-run news agency, Xinhua, announced the 'last nine counties had been removed from the list', all of them located in southwestern Guizhou province, officially leaving no county in a state of absolute poverty countrywide.

Wow! Why aren't they celebrating?
Speaking on Tuesday at his daily news conference, Chinese Foreign Ministry spokesman Zhao Lijian said that China had "completed the goal of achieving a comprehensive poverty alleviation by the end of 2020." "The hard-won results are gratifying," he added. However, others have been more cautious. State-run tabloid, Global Times, quoted experts as saying that the Chinese government needed to "comprehensively review" the poverty alleviation results, and announce a result in the first half of 2021.

Defying the odds.
Despite the economic damage caused by the coronavirus pandemic, Xi and his government didn't push back their goals for poverty alleviation, keen to meet their target before the Communist Party's centenary. Whether or not the target has been officially met, experts said that there was little doubt that the Chinese government would announce within months that it had met its goal of ending absolute poverty by the end of 2020. SOURCE

WHAT ELSE IS FRESH...

Insecurity: Buhari’s efforts not good enough, says Katsina senator.

Reps summon Buhari over slain Borno farmers.

FIRS threatens to recover outstanding taxes by Dec 31.

Ezekwesili - ‘Things have become critical’– demands probe of Buhari’s mental health.

2023: ‘Zoning should be respected’ — Amaechi backs Fashola.

Terrorism: Don’t unfreeze #EndSARS campaigners’ accounts, CBN begs court.

BUSTED: Police share photoshopped pictures of arrested suspects.

Ishaku backs Zulum, asks FG to hire mercenaries against Boko Haram.

Shekau - ‘We killed 78 farmers’ — claims responsibility for Zabarmari attack.

PSC: 925 names smuggled into police recruitment list.

Zulum: let’s battle Boko Haram with mercenaries.

Boko Haram: Why Buhari is keeping service chiefs –Garba Shehu.

European Council approves debt relief efforts for African countries.

NCAA Warns Pilots, Others over Adverse Weather.

Recession: Peter Obi shares blueprint for economic recovery.

Presidency Says Slain Borno Rice Farmers Didn't Get Military Clearance to Go to Farm.

Senate confirms Yakubu as INEC Chairman.

12 Tucano jets to arrive on schedule —NAF.

Stockholm mother arrested 'after keeping son for decades in flat'.

Ethiopia's Tigray crisis: Eritrea refugees in Ethiopia run out of food, UN says.

Nike and Coca-Cola Lobby Against Xinjiang Forced Labor Bill.

In Japan, more people died from suicide last month than from Covid in all of 2020.

Joe Biden named an all-woman senior comms team, including Jen Psaki as White House press secretary.

Old and young, Chinese vent anger at move to raise retirement age.

US Attorney General: No fraud found that could change election outcome.

EMPLOYMENT OPPORTUNITY

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PICKS OF THE DAY

The Secure #NairaLife Of An Engineer In Oil And Gas. Zikoko

This Day in History: December 1. Britannica

Researchers Found One Way That Long-Term Marriages Get Happier. Quartz

Why the Simple Life Is Not Just Beautiful, It’s Necessary. Aeon

How a Pepsi Prize Promotion Ended in Riots and Death. Bloomberg

The Biggest Work From Home Mistakes: Harvard Business School Remote Expert. CNBC

Mindful Habits that Lead to a Minimalist Home. Apartment Therapy

20 Slang Terms From World War I. Mental Floss

How to Cultivate a Sense of Unconditional Self-Worth. TED

Check out the 100 best inventions of 2020. Time

TODAY'S TRIVIA

Technology Quiz

1. What kind of malware is designed to take advantage of a security hole before it is known?
A. Zero-day exploit
B. Virus
C. Ransomware

2. Making a compressed digital archive might produce what type of file format?
A. PDF
B. JPEG
C. ZIP

3. What does acronym FOSS stand for?
A. Free and Open-Source Software
B. Full Option Sensor System
C. Follow-On Support Service

4. What technology is used to make telephone calls over the Internet possible?
A. Bluetooth
B. Ethernet
C. VoIP

QUESTION & ANSWER

QUORA QUESTION: 

What’s stopping Europe from overtaking the USA and China, economically and militarily?

Marian Hubbard

Europe’s military is mostly a pretty pathetic joke. The Germans, for example, were recently photographed using what appear to be broomsticks because of a shortage of rifles. The only country in there with a truly formidable navy is the UK.

The extent to which Europe even has a military is largely due to the pressure from the U.S. to measure up to their agreements re: their membership in NATO.

China and the U.S. meanwhile, have continued to invest in new weapons systems, and increase their forces, especially their navies.

The U.S. has had a fighting military for most of the last 70 years and is still involved in the Mid-east in a series of occasionally very warm encounters.

As to its economy, most European countries have spent a great deal of money on government benefits and social programs that limit the effectiveness and productivity of their businesses. These include long vacations, tremendous union benefits, including the inability for companies to fire the least productive workers.

Europe does not produce much of their own energy, while the U.S. is the world’s largest producer of oil and natural gas.

The U.S., despite the temporary collapse of its economy due to the covid pandemic, is seeing the record economy we had prior to February, 2020, coming back very strongly.

Europe has made a decision that it does not want to be an important military force, and that it wants to have a good way of life for its citizens. Reversing course would take time and require to consent of the European people and there is no evidence that they want to go back to what was not a pleasant time in history. SOURCE

TRIVIA ANSWER

Technology Quiz Answers

1. What kind of malware is designed to take advantage of a security hole before it is known?
A. Zero-day exploit

2. Making a compressed digital archive might produce what type of file format?
C. ZIP

3. What does acronym FOSS stand for?
A. Free and Open-Source Software

4. What technology is used to make telephone calls over the Internet possible?
C. VoIP

LITERATURE

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