Brexit: Nigeria, others to face bleak economic growth

As the Prime Minister of United Kingdom (UK), Theresa May, formally begins Brexit talks next week with European Union (EU), Nigeria and other countries in Africa have been predicted to face bleak economic growth in the near future. The Director, United Nations Economic Commission for Africa (UNECA), Adam Elhiraika, said this at the launch of the Commission’s annual economic report on Africa in Abuja.He disclosed that Brexit could put Africa’s future growth at risk. UNECA warned that countries such as Nigeria, with strong trade and investment links to the UK…

EU to issue Brexit negotiation guidelines

  European Council President Donald Tusk is due to issue draft guidelines on how the EU intends to negotiate the UK’s departure from the bloc. The proposals will be sent to the governments of 27 EU members. They will help set the tone for two years of tough negotiations and efforts to finalise a deal. EU leaders say the UK must first agree its exit terms before talks can move on to future ties. London is calling for simultaneous talks. British Prime Minister Theresa May formally triggered the Brexit process…

UK ministers set out Brexit sovereignty plan

  The government will set out how it plans to remove EU law from the statute book later by publishing details of its Great Repeal Bill. Having formally triggered Brexit, ministers are promising a “smooth and stable transition” with legislation ending the supremacy of EU judges. It will also incorporate thousands of pieces of EU law into UK legislation. The publication comes the day after the UK started two years of talks using Article 50 of the Lisbon Treaty. Prime Minister Theresa May described the invoking of Article 50 as…

UK PM signs letter that will trigger Brexit

  Theresa May has signed the letter that will formally begin the UK’s departure from the European Union. Giving official notice under Article 50 of the Lisbon Treaty, it will be delivered to European Council president Donald Tusk later. In a statement in the Commons, the prime minister will then tell MPs this marks “the moment for the country to come together”. It follows June’s referendum which resulted in a vote to leave the EU. Mrs May’s letter will be delivered at 12:30 BST on Wednesday by the British ambassador…

Prof. Oyebode: Trump shouldn’t have spoken with Buhari in London

Professor Akin Oyebode is the Chairman of the Office of International Relations, Partnerships and Prospects at the University of Lagos and a member of the Governing Council of the Nigeria Institute of International Affairs (NIIA). In this interview with BIYI ADEGOROYE, the former International Law and Jurisprudence lecturer at the university examines President Muhammadu Buhari’s two years in office and the confusion created by the wordings of his recent letter transferring power during his second medical trip What is your impression about President Muhammadu Buhari’s letter to the National Assembly,…

UK’s super-rich carry on making billions

  The UK’s richest 1,000 people “kept calm and carried on making billions” amid the Brexit vote of 2016, according to the Sunday Times Rich List. Their wealth rose by 14% over the past year to a record £658bn, it shows. Brothers Sri and Gopi Hinduja, who invest in property, healthcare and oil and gas, top this year’s list with £16.2bn – up £3.2bn on 2016. The list includes a record number of British billionaires – 134 – with 14 new ones emerging over the last year. List compiler Robert…

Nigeria ranks 17 on 2016 Africa attractiveness survey

The latest Africa Attractiveness Survey, which provides an analysis of Foreign Direct investment (FDI) into the continent, has ranked Nigeria as the 17th destination for FDI in Africa. The report, which was released on Wednesday by EY Africa, a financial advisory services company which carried out the survey, showed that South Africa remained the biggest FDI hub in Africa. Morocco was said to be Africa’s second largest recipient of FDI, followed by Egypt. “In the west of Africa, recession in Nigeria resulted in FDI projects easing 3.8 per cent compared…