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</o:shapelayout></xml><![endif]--></head><body lang=EN-ZW link="#0563C1" vlink="#954F72"><div class=WordSection1><div align=center><table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width=916 style='width:687.2pt;border-collapse:collapse'><tr><td width=910 colspan=4 valign=top style='width:682.8pt;padding:0cm 5.4pt 0cm 5.4pt'></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'> <o:p></o:p></span></p></td></tr><tr><td width=910 colspan=4 valign=top style='width:682.8pt;border:solid #BFBFBF 1.0pt;border-top:solid #D9D9D9 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt'><p class=MsoNormal style='text-indent:33.35pt;line-height:105%'><span lang=EN-US><a href="https://bullszimbabwe.com/"><span lang=EN-ZW style='font-family:"Verdana",sans-serif;color:windowtext;mso-fareast-language:EN-ZW;text-decoration:none'><img border=0 width=246 height=120 id="Picture_x0020_5" src="cid:image001.png@01DC4D76.3B40E2A0"></span></a></span><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p></o:p></span></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'> <o:p></o:p></span></p></td></tr><tr><td width=910 colspan=4 valign=top style='width:682.8pt;border:solid #BFBFBF 1.0pt;border-top:none;padding:0cm 5.4pt 0cm 5.4pt'><p class=MsoNormal style='margin-left:32.1pt;text-indent:7.5pt;line-height:105%'><b><span lang=EN-US style='font-family:"Verdana",sans-serif;color:#002060'><o:p> </o:p></span></b></p><p class=MsoNormal style='margin-left:32.1pt;text-indent:7.5pt;line-height:105%'><span lang=EN-US><a href="http://www.bullszimbabwe.com"><b><span style='font-size:8.0pt;line-height:105%;font-family:"Verdana",sans-serif;color:#0070C0;text-decoration:none'>Bullszimbabwe.com </span></b></a></span><b><span lang=EN-US style='font-size:8.0pt;line-height:105%;font-family:"Verdana",sans-serif;color:#0070C0'> </span></b><span lang=EN-US><a href="mailto:info@bulls.co.zw?subject=View%20and%20Comments"><b><span style='font-size:8.0pt;line-height:105%;font-family:"Verdana",sans-serif;color:#0070C0;text-decoration:none'>Views & Comments</span></b></a></span><span class=MsoHyperlink><b><span lang=EN-US style='font-size:8.0pt;line-height:105%;font-family:"Verdana",sans-serif;color:#0070C0;text-decoration:none'> </span></b></span><span lang=EN-US><a href="https://bullszimbabwe.com/category/blogs/bullish-thoughts/"><b><span style='font-size:8.0pt;line-height:105%;font-family:"Verdana",sans-serif;color:#0070C0;text-decoration:none'>Bullish Thoughts</span></b></a></span><span class=MsoHyperlink><b><span lang=EN-US style='font-size:8.0pt;line-height:105%;font-family:"Verdana",sans-serif;color:#0070C0;text-decoration:none'> </span></b></span><span lang=EN-US><a href="http://www.twitter.com/BullsBears2010"><b><span 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style='font-size:8.0pt;line-height:105%;font-family:"Verdana",sans-serif;color:#0070C0;text-decoration:none'> </span></b></span><span lang=EN-US><a href="https://chat.whatsapp.com/CF6wllAfScU9Wr6dXxoQnO"><b><span style='color:#70AD47;mso-fareast-language:EN-ZW;text-decoration:none'>WhatsApp</span></b></a></span><span class=MsoHyperlink><b><span lang=EN-US style='color:#70AD47;mso-fareast-language:EN-ZW;text-decoration:none'> </span></b></span><span lang=EN-US><a href="mailto:bulls@bullszimbabwe.com?subject=Unsubscribe"><b><span style='font-size:8.0pt;line-height:105%;font-family:"Verdana",sans-serif;color:#0070C0;text-decoration:none'>Unsubscribe</span></b></a></span><span class=style30><span style='font-size:8.0pt;line-height:105%;color:#00B050'><o:p></o:p></span></span></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'> </span><o:p></o:p></p></td></tr><tr><td width=910 colspan=4 valign=top style='width:682.8pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt'><p class=MsoSubtitle style='margin-left:32.1pt;text-indent:7.5pt;line-height:105%'><span class=style30><b><span style='color:black'><o:p> </o:p></span></b></span></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'> </span><o:p></o:p></p></td></tr><tr><td width=910 colspan=4 valign=top style='width:682.8pt;border:solid #BFBFBF 1.0pt;border-top:none;padding:0cm 5.4pt 0cm 5.4pt'><p class=MsoNormal style='margin-left:32.1pt;text-indent:7.5pt;line-height:105%'><span class=style30><b><span lang=EN-US style='font-family:"Verdana",sans-serif'>Major International Business Headlines Brief ::: 05 November 2025 </span></b></span><b><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p></o:p></span></b></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'> <o:p></o:p></span></p></td></tr><tr><td width=910 colspan=4 valign=top style='width:682.8pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt'><p class=MsoNormal style='line-height:105%'><span class=style30><b><span lang=EN-US> </span><o:p></o:p></b></span></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'> </span><o:p></o:p></p></td></tr><tr style='height:3.0pt'><td width=910 colspan=4 valign=top style='width:682.8pt;border:solid #BFBFBF 1.0pt;border-top:none;padding:0cm 5.4pt 0cm 5.4pt;height:3.0pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US><a href="mailto:info@bulls.co.zw"><span lang=EN-ZW style='color:windowtext;mso-fareast-language:EN-ZW;text-decoration:none'><img border=0 width=804 height=268 id="Picture_x0020_4" src="cid:image002.jpg@01DC4D76.3B40E2A0"></span></a></span><span class=style30><b><o:p></o:p></b></span></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm;height:3.0pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'> </span><o:p></o:p></p></td></tr><tr style='height:10.05pt'><td width=910 colspan=4 valign=top style='width:682.8pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:10.05pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm;height:10.05pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'> <o:p></o:p></span></p></td></tr><tr style='height:10.05pt'><td width=910 colspan=4 valign=top style='width:682.8pt;border:solid #BFBFBF 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lfo2;background:white'><![if !supportLists]><span style='font-size:10.0pt;line-height:115%;font-family:Wingdings;mso-fareast-language:EN-ZW'><span style='mso-list:Ignore'>ü<span style='font:7.0pt "Times New Roman"'> </span></span></span><![endif]><b><span style='font-size:10.0pt;line-height:115%;font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Nigeria: Senate Probes Loans, Railway Projects Executed Under Buhari<o:p></o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='mso-margin-top-alt:auto;margin-left:72.0pt;mso-add-space:auto;text-indent:-18.0pt;line-height:115%;mso-list:l0 level2 lfo2;background:white'><![if !supportLists]><span style='font-size:10.0pt;line-height:115%;font-family:Wingdings;mso-fareast-language:EN-ZW'><span style='mso-list:Ignore'>ü<span style='font:7.0pt "Times New Roman"'> </span></span></span><![endif]><b><span style='font-size:10.0pt;line-height:115%;font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Nigeria's GDP Growth Not 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style='mso-list:Ignore'>ü<span style='font:7.0pt "Times New Roman"'> </span></span></span><![endif]><b><span style='font-size:10.0pt;line-height:115%;font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Kenya: Govt Exploring Investment Pathways for Kenyans in Diaspora to Send Money Home<o:p></o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='mso-margin-top-alt:auto;margin-left:72.0pt;mso-add-space:auto;text-indent:-18.0pt;line-height:115%;mso-list:l0 level2 lfo2;background:white'><![if !supportLists]><span style='font-size:10.0pt;line-height:115%;font-family:Wingdings;mso-fareast-language:EN-ZW'><span style='mso-list:Ignore'>ü<span style='font:7.0pt "Times New Roman"'> </span></span></span><![endif]><b><span style='font-size:10.0pt;line-height:115%;font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Kenya: Ruto Oversees Landmark Kenya-Qatar Financial Cooperation Agreement<o:p></o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='mso-margin-top-alt:auto;margin-left:72.0pt;mso-add-space:auto;text-indent:-18.0pt;line-height:115%;mso-list:l0 level2 lfo2;background:white'><![if !supportLists]><span style='font-size:10.0pt;line-height:115%;font-family:Wingdings;mso-fareast-language:EN-ZW'><span style='mso-list:Ignore'>ü<span style='font:7.0pt "Times New Roman"'> </span></span></span><![endif]><b><span style='font-size:10.0pt;line-height:115%;font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Nigeria: Tinubu's 15% Import Tariff Marks Bold Step Toward $1 Trillion Economy - Otedola<o:p></o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='mso-margin-top-alt:auto;margin-left:72.0pt;mso-add-space:auto;text-indent:-18.0pt;line-height:115%;mso-list:l0 level2 lfo2;background:white'><![if !supportLists]><span style='font-size:10.0pt;line-height:115%;font-family:Wingdings;mso-fareast-language:EN-ZW'><span style='mso-list:Ignore'>ü<span style='font:7.0pt "Times New Roman"'> </span></span></span><![endif]><b><span style='font-size:10.0pt;line-height:115%;font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Nigeria: National Petroleum Company Plans Raising Stake in Dangote Refinery to 20%<o:p></o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='mso-margin-top-alt:auto;margin-left:72.0pt;mso-add-space:auto;text-indent:-18.0pt;line-height:115%;mso-list:l0 level2 lfo2;background:white'><![if !supportLists]><span style='font-size:10.0pt;line-height:115%;font-family:Wingdings;mso-fareast-language:EN-ZW'><span style='mso-list:Ignore'>ü<span style='font:7.0pt "Times New Roman"'> </span></span></span><![endif]><b><span style='font-size:10.0pt;line-height:115%;font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Rwanda: Why Rwanda's Micro-Enterprises Struggle to Create Decent Jobs<o:p></o:p></span></b></p><p class=MsoListParagraphCxSpLast style='mso-margin-top-alt:auto;margin-left:72.0pt;mso-add-space:auto;text-indent:-18.0pt;line-height:115%;mso-list:l0 level2 lfo2;background:white'><![if !supportLists]><span style='font-family:Wingdings;color:#222222;mso-fareast-language:EN-ZW'><span style='mso-list:Ignore'>ü<span style='font:7.0pt "Times New Roman"'> </span></span></span><![endif]><b><span style='font-size:10.0pt;line-height:115%;font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Nigeria: Dangote Refinery to Receive 5 Cargoes of Crude From NNPCL</span></b><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p></o:p></span></b></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm;height:10.05pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td></tr><tr style='height:10.05pt'><td width=910 colspan=4 valign=top style='width:682.8pt;border:solid #BFBFBF 1.0pt;border-top:none;padding:0cm 5.4pt 0cm 5.4pt;height:10.05pt'><p class=MsoNormal style='mso-margin-top-alt:auto;line-height:115%;background:white'><span lang=EN-US><a href="mailto:info@bulls.co.zw"><span lang=EN-ZW style='color:windowtext;mso-fareast-language:EN-ZW;text-decoration:none'><img border=0 width=804 height=268 id="Picture_x0020_3" src="cid:image003.jpg@01DC4D76.3B40E2A0"></span></a></span><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p></o:p></span></b></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm;height:10.05pt'><p class=MsoNormal align=center style='text-align:center;line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td></tr><tr style='height:10.05pt'><td width=910 colspan=4 rowspan=3 valign=top style='width:682.8pt;border:solid #BFBFBF 1.0pt;border-top:none;padding:0cm 5.4pt 0cm 5.4pt;height:10.05pt'><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><b><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><b><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Nigeria: Patients Bear Brunt As Resident Doctors' Strike Enters Fourth Day<o:p></o:p></span></b></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>The strike, which began on 1 November, followed what NARD described as years of unmet demands and broken promises by the federal government.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Hospitals across Nigeria remained in partial shutdown as the nationwide strike by the Nigerian Association of Resident Doctors (NARD) entered its fourth day, leaving patients stranded and many departments operating at minimal capacity.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Visits by PREMIUM TIMES reporters to health facilities in Lagos, Abuja, and Kaduna revealed that while emergency and critical units were operating partially, most outpatient and specialised services were shut down.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Lagos hospitals run skeletal services<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>At the Lagos University Teaching Hospital (LUTH), Idi-Araba, a few nurses were seen attending to already-admitted patients while new admissions had stopped.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>A patient at the Labour Ward, who identified herself as Mrs Nafisat, told PREMIUM TIMES she was still receiving attention.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>"I am receiving care despite the strike, but I have not seen any new patients," she said.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>A student nurse in the Oncology Unit also confirmed that nurses were "still rendering services to all patients already admitted," though she was unsure whether new cases were being taken in.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>The Association of Resident Doctors (ARD) Secretariat at the hospital was empty when PREMIUM TIMES visited. A staff member, however, said some resident doctors "still come around mostly in the morning," but only briefly.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>At the Lagos State University Teaching Hospital (LASUTH), Ikeja, patients arriving for appointments met locked consulting rooms and empty waiting halls, and major departments like the Medical Emergency Unit were deserted.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Adekemisola Dike, a mother who came for her baby's check-up at 12 noon, said she was unaware of the strike and had to leave immediately.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>"On getting here, I was informed that they were on strike. I am not happy," Mrs Dike said. "I came for my baby's check-up after struggling to get a ride."<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Another patient, an elderly man, said he had an endocrinology appointment but was told to return in two weeks. Rebecca Onasanwo, who accompanied her husband to the Surgical Outpatient Department, also left without seeing a doctor.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>"We had an appointment for 11 a.m., but they said the doctors are not available," she said.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Meanwhile, some sections, such as paediatrics, continued to operate on limited scale. David Mfonobong, who visited with his wife and infant, said their child's tests had been done, but most patients were turned back.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Mr Mfonobong said about 30 parents were waiting this morning, but 80 per cent were sent home. Only emergency cases were attended to.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>LASUTH's Director of Clinical Services and Training, Adebowale Adekoya, confirmed that the hospital was concentrating on "critical cases in the intensive care and emergency units," explaining that some services continued under Public-Private Partnership (PPP) arrangements.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>"Patients from the critical care unit are referred to other hospitals once they are stable," Mr Adekoya said.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Skeletal services in Abuja<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>At the Federal Medical Centre (FMC), Jabi, services were partially disrupted. Resident doctors were absent, leaving nurses and consultants to handle emergency and maternity cases.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>A pregnant woman, Adaeze, said she arrived early for an appointment but left disappointed.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>"I came very early to see a doctor, but no one has attended to me. They said the strike is indefinite," she said.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>At the hospital's emergency unit, nurses were seen working around patients, while a resident doctor who spoke on condition of anonymity said the department was "running with very limited manpower."<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>"We can't abandon emergencies entirely. I came around to help on humanitarian grounds. Many of us are staying away because of the strike, but some of us come to assist in emergencies," he said.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>At the Antenatal Department, a member of the hospital's SERVICOM unit said consultants are available and have attended to patients who came for antenatal sessions.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>She said, "Consultants are around and they have attended to the pregnant women who had come earlier in the morning."<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>A nurse on duty at the consulting area also confirmed that the rooms are open to patients, though without the presence of resident doctors.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>"Patients are being attended to, but none of the resident doctors are around," she said.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>At the National Hospital, Abuja, wards such as Oncology and the General Outpatient Department were filled with patients waiting to be called in small batches.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>One patient's relative, who came from Gwarimpa with his mother, said only 10 patients were being attended to in the oncology section each day.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>"I came all the way from Gwarimpa. My mother needs attention, but because of the strike, she's not getting it," he said. I explained her condition to them, and they are aware, but they just don't want to attend to us."<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Another woman at the oncology department said her mother was among the few fortunate patients being attended to after arriving very early in the morning.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>"We've been here since 6:30 a.m. They are attending to those whose names were listed among the first 10. My mother was given a number, and that's why she's seeing a doctor now," she said.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Kaduna hospitals affected<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>At the Ahmadu Bello University Teaching Hospital (ABUTH), Shikka-Zaria, Kaduna State, a senior consultant in the Accident and Emergency Unit, who requested anonymity, said the strike had severely affected operations.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>"We only treated four patients today with minimal cases and didn't admit them," he said. "The patients on admission before the strike are still here, but we can't move them to the wards."<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>He said only a few resident doctors were on duty "because I begged them," adding that those who refused to work risked being replaced.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>The consultant urged the government to engage hospital professionals directly to understand the challenges they face.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>"It's not enough to talk to the heads of medical associations. They should also hear from departmental heads to know the true problems of health workers and how best to solve them," he said.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>He also called on the government to increase workers' salaries and allowances that is being paid to doctors and other health workers.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>However, at the Major Ibrahim Abdullahi Hospital in Zaria, a general hospital, services continued largely uninterrupted. Hulera Abdullahi, who brought her baby for immunisation, said she was not aware of the strike.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>A patient identified as Cornelius Ndubisi, who came for his HIV medication, said he experienced only minor delays due to staff shortage.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>"I've been here since 8 a.m. and just got my drugs at 11 a.m. The place was crowded, but they attended to us," he said.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>The hospital's Medical Director, Olawumi Waheed, confirmed that none of their doctors were on strike since they are not NARD members.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>"We're even getting more patients now because of the strike in teaching hospitals," he said.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Background<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>The strike, which began on 1 November, followed what NARD described as years of unmet demands and broken promises by the federal government.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>The association listed unpaid arrears from the 25 and 35 per cent CONMESS review, unpaid allowances, delayed promotions, and poor working conditions among its grievances.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>The Federal Ministry of Health and Social Welfare recently announced the approval of N11.9 billion to settle outstanding arrears and pledged mass recruitment of health workers across federal institutions.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>The ministry said N10 billion was already paid in August for part of the seven months' arrears from the 25 to 35 per cent upward salary review. It added that N10.6 billion had also been released for the 2025 Medical Residency Training Fund (MRTF).<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>But NARD, in a statement signed by its president, Mohammad Suleiman, dismissed the government's claims of progress, describing them as "fiction detached from reality."<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>The association accused the health ministry of misinforming President Bola Tinubu and the public, saying that most of its 19 longstanding demands remain unmet.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>These include arrears of allowances, promotion delays, irregularities in salary payments through the Integrated Payroll and Personnel Information System (IPPIS), and poor working conditions.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>"Our struggle transcends money. It is about dignity, safety, and survival," the statement said. "Industrial peace cannot be achieved through press statements but through justice, sincerity, and respect for agreements."<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Read the original article on Premium Times.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><b><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><b><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><b><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Uganda: When You Remain Poor, You Cheat the Country - Museveni<o:p></o:p></span></b></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>President Museveni has emphasised the role of wealth creation in the development of the country.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Addressing journalists as he winds up campaigns in Teso sub-region, Museveni said it is high time all Ugandans got involved in wealth creation, not only for their individual benefits but also for the country at large.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>"Don't mix development with wealth creation with development. Take an example of Kampala which has the best roads, some of which go over each other but you find there are ghettos and poor people there. Everybody must understand importance of wealth and even for development to continue, you must have wealth," Museveni said on Tuesday evening.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>He insisted that the wealthy greatly contribute to the development of the country by paying taxes, noting that the poor cheat the country since they don't have purchasing power.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>"When you remain poor you are cheating us because you are not buying anything. On the other side, when you buy sugar or cement, there is a tax you are paying. If you are economically active you contribute by paying tax. When you are poor, you are boycotting paying tax but you want medicine, roads and yet not contributing. Poverty will in the end affect development," he said.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>"When purchasing power of the population goes up, even the economy goes up. If people don't have purchasing power, the economy goes down. They don't have purchasing power because they don't have wealth."<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Museveni said wealth comes from commercial agriculture, artisanship and manufacturing, services and ICT that he said everyone must be part of if the country is to develop.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Read the original article on Nile Post.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><b><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><b><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Nigeria: Economic Impacts of U.S. Military Threat to Nigeria<o:p></o:p></span></b></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>The recent threat by President Donald trump to intervene in Nigeria in response to the alleged 'killing of Christians' has serious implications for Nigeria-Us relations, especially in terms of its drawbacks to the current economic reforms, the recent 15% import duty on petroleum and diesel import and the possibility of boosting the economic relationship between Nigeria and China.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>This shift towards BRICS in general and China in particular will primarily affect the US by fueling competition for influence in Africa, challenging the economic standing of the dollar, and creating vulnerabilities related to trade imbalances and debt.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>The weakening of Nigeria-US relationship due to the recent intervention threat is therefore a direct manifestation of the broader struggle for global economic dominance. Its potential negative effects on Nigeria include:<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>A decline in foreign direct investment (FDI) through which U.S. investors will adopt a careful approach toward emerging markets like Nigeria, focusing instead on domestic opportunities. Foreign direct investment may also be more vulnerable than before because the severity of the allegations creates reputational risk, prompting multinational firms to delay or suspend investment decisions across sectors such as energy, telecoms, agribusiness and fintech.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Keep up with the latest headlines on WhatsApp | LinkedIn<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>On Trade Issues, the United States remains a vital economic partner for Nigeria and bilateral trade in goods and services reached approximately $13 billion in 2024, according to official data from the Office of the U.S. Trade Representative.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Trump's threat to cut "aid and assistance" could therefore ripple through multiple channels such as trade finance, energy exports, defense procurement and humanitarian programs. More risky still would be a suspension of Nigeria's eligibility under the African Growth and Opportunity Act (AGOA), which offers duty-free access to US markets for African goods. Such a move could cripple Nigeria's drive towards expanding non-oil exports, particularly in textiles, agro-processing, and light manufacturing. The country's export council recently reported a nearly 20% rise in shipments during the first half of 2025, driven by global demand for cocoa, urea, and cashew. If Western importers begin to hesitate or reroute orders, these fragile gains could diminish. Higher insurance premia and costlier trade credit would also make Nigerian goods less competitive, even before a single sanction is imposed.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Drop in portfolio inflows because the remarks of the US President could have a significant impact on Nigeria's plans to issue Eurobonds worth about $2.3 billion later this year as investors may perceive the country as one with high risk. Fiscal stability may also weaken as outflows push domestic yields higher, raise borrowing costs, and worsen the currency-debt service dynamic. The international amplification of Trump's remarks may therefore further damage Nigeria's image and negatively influence multilaterals and rating agencies.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Zespite efforts to diversify the Nigerian economy, Oil & Gas remain the lifeblood of its economy, feeding both foreign exchange reserves and government coffers. Any escalation that disrupts production, shipping, or insurance coverage would squeeze dollar inflows at a point Nigeria struggles to narrow its fiscal deficit. Although the International Energy Agency (IEA) predicts that OPEC+ supply is expected to rise in 2025, a Nigeria-specific disruption could tighten the global market for light-sweet crude, potentially lifting prices but leaving Nigeria paradoxically poorer since its output will drop due to the intervention or because buyers demand steep discounts. For Nigeria, this means reduced revenue and heightened economic vulnerability and in such a scenario, the country's budgetary gaps could widen, forcing deeper austerity or additional borrowing at punishing rates.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>If the threat is carried through, there will be increased inflationary pressures, and reduced foreign reserves due to capital outflows. The escalation may also complicate the efforts of the Central Bank of Nigeria (CBN) to stabilize the naira and anchor inflation expectations.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>The regulator has been courting portfolio inflows through high-yield securities and reforms in the FX window, but heightened global risk aversion could limit the impact and the naira may consequently face notable downward pressure as outflows intensify, potentially forcing heavier CBN intervention.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Muhammed Muttaka Usman is a Professor of Economics, Department of Economics, Ahmadu Bello University, Zaria and member, Daily Trust Board of Economists<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Read the original article on Daily Trust.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><b><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><b><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Nigeria: Manufacturing, Trade Drive 11 Months Streak of Economic Expansion - NESG<o:p></o:p></span></b></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>The Nigerian Economic Summit Group (NESG) has reported sustained expansion in economic activities for the 11th consecutive month, driven largely by improved performance in the manufacturing and trade sectors.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>The report stated: "In October 2025, Nigeria's business environment maintained its positive trajectory, with the Current Business Performance Index remaining in the expansion zone. The NESG Stanbic IBTC Business Confidence Monitor (BCM) recorded a marginal increase to 111.3 points from 107.9 points in September 2025 and 76.8 points in the same period of 2024. This improvement reflects a mix of sectoral dynamics, particularly strengthened business performance across sectors and a surge in growth within the manufacturing sector.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>"A sectoral review showed that all five broad economic activities remained in the expansion region. The Manufacturing and Trade sectors recorded the strongest gains, rising by 8.8 and 7.8 points to 111.3 and 115.4, respectively, during the month. Non-Manufacturing (115.0), Agriculture (111.4), and Services (111.0) also expanded, albeit at a slower pace than in September 2025.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Commenting, Muyiwa Oni, Regional Head of Equity Research for West Africa at Standard Bank Group, said: "Broad sectoral improvement in activities influenced an increase in Nigeria's business conditions for the third consecutive month, extending the expansion in general activities for the 11th month running.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>More Notably, the Manufacturing sector improved the most in October, amid higher production, improved demand, and increased access to credit. We believe lower inflation and a stable exchange rate supported an improvement in demand and production.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>"Indeed, the breakdown of the Manufacturing sector showed better performance across the food & beverage; cement; and plastic & rubber products sub-sectors. Nonetheless, the level of optimism in October was lower than that seen in September, reflecting weaker optimism levels across the Manufacturing sector; Non-manufacturing industries; and Services. Where future sentiments increased, survey participants linked it to ongoing policy reforms, stable exchange rate, gradual recovery in consumer demand, and seasonal economic activity."<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Read the original article on Vanguard.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><b><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><b><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Nigeria: Senate Probes Loans, Railway Projects Executed Under Buhari<o:p></o:p></span></b></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>The Senate has launched an investigation into the persistent derailments on Nigeria's rail lines and the contracts, funding, and implementation of railway projects executed during former President Muhammadu Buhari's administration.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>An ad hoc committee chaired by Senator Adams Oshiomhole (APC, Edo North) was constituted to carry out the probe and submit its report within four weeks.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>The motion, sponsored by Senator Ede Dafinone (APC, Delta Central), followed repeated technical breakdowns on the Itakpe-Warri rail corridor.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Dafinone expressed concern that the line, inaugurated only a few years ago, has suffered over 10 derailments and multiple mechanical failures between 2023 and 2025, posing grave risks to passengers and eroding public trust.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Senate President Godswill Akpabio expressed outrage over the state of the infrastructure, accusing those who supervised the projects under Buhari of "incompetence and deceit."<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>He questioned how rail projects costing "trillions of naira" could fail within months of commissioning, likening the situation to "refurbished scraps repainted as new."<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>The Senate directed the Ministry of Transportation and NRC to immediately repair the Itakpe-Warri line, enhance safety standards, and deploy additional rolling stock.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>It also resolved to probe all railway projects executed under Buhari -- including funding sources, contract awards, and standards -- while establishing a National Rail Safety and Standards Unit.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>UPDATE NEWS: As a Nigerian, do you need access to US Dollars? It is now possible to live in Nigeria or Diaspora and constantly get paid in US Dollars. Find out how thousands are doing it daily.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Read the original article on Daily Trust.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><b><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><b><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Nigeria's GDP Growth Not Reflecting in Citizens' Living Standards - Sanusi<o:p></o:p></span></b></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>The Emir of Kano and former Governor of the Central Bank of Nigeria (CBN), Muhammadu Sanusi II, has warned that Nigeria's economic growth may not be translating into improved living standards for its citizens.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Sanusi said this yesterday in Lagos while delivering the keynote address at the 7th African International Conference on Islamic Finance (AICIF), themed "Africa Emerging: A Prosperous and Inclusive Outlook."<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>The conference was organised by Metropolitan Law and Metropolitan Skills Ltd in collaboration with the Securities and Exchange Commission (SEC).<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Sanusi noted that while headline economic indicators such as Gross Domestic Product (GDP) growth and inflation figures may appear impressive, they often mask worsening living conditions for ordinary Nigerians.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>"Economists tend to take a helicopter view of GDP and inflation numbers. These are beautiful statistics, but too often we lose sight of the small numbers that are absolutely crucial.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>"A GDP growth rate of 5% or 6% may look good, but if it comes from one niche sector, the vast majority of the population could be getting poorer while GDP is growing. Inflation may decline, but the prices of basic food and medicines consumed by the poor may still be rising," he said.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>The emir called on Islamic financial institutions to drive inclusive growth by targeting the informal and rural sectors.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>"Islamic financial institutions need to go to the bottom of the pyramid. You cannot talk about inclusivity if you are not where the people are. Sitting in Lagos or Abuja and booking loans does not improve the lives of people in rural areas," he said.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>He urged the sector to support small and medium enterprises (SMEs)--including artisans, tailors, and small business owners--who employ the majority of Nigerians.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Sanusi also challenged Islamic finance operators to be more ambitious in mobilising capital and expanding their reach, saying, "That is the only way these instruments can truly reach the grassroots."<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Citing global projections, he said by 2050, 85% of the world's poor will live in Africa, with Nigeria and the Democratic Republic of Congo accounting for half of that figure, and 70% of Nigeria's poor residing in the North.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>He further urged Islamic finance practitioners to address cultural practices that marginalise women, noting that empowering women is key to achieving shared prosperity in Africa.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Read the original article on Daily Trust.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><b><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><b><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Nigeria: Govt Seeks IMF Support for Transparent Fuel Price Framework<o:p></o:p></span></b></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>The Federal Government has sought the technical support of the International Monetary Fund (IMF) to design a transparent fuel price modulation framework that will cushion domestic price shocks and strengthen Nigeria's fiscal stability.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Permanent Secretary, Ministry of Petroleum Resources, Dr. Emeka Vitalis Obi, disclosed this in Abuja during a joint engagement between the Ministry, its regulatory agencies -- the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) -- and the IMF Fiscal Affairs Department (FAD) Technical Assistance Mission on Climate Policy.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Dr. Obi said the collaboration is part of ongoing efforts to build a resilient and transparent fiscal system capable of withstanding global energy market volatility while maintaining economic discipline.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>"The Federal Government is seeking the continued technical support of the IMF's Fiscal Affairs Department in designing a transparent and resilient price modulation mechanism that will help cushion domestic price shocks, insulate markets from extreme global volatility, and preserve fiscal discipline," he stated.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>He described the IMF mission as timely and strategic, aligning with government efforts to consolidate post-pandemic recovery, manage climate-related fiscal pressures, and sustain ongoing energy reforms.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Dr. Obi reaffirmed that removing the general fuel subsidy was a necessary step to restore fiscal stability and redirect public spending toward infrastructure, social welfare, and sustainable energy development.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Highlighting Nigeria's environmental responsibility, he cited the Nigeria Gas Flare Commercialisation Programme (NGFCP) and emerging carbon-credit frameworks as part of efforts to end routine gas flaring, reduce methane emissions, and promote gas utilisation in power generation, fertilizer production, and Compressed Natural Gas (CNG) markets.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>"These initiatives align with Nigeria's Nationally Determined Contributions (NDCs) under the Paris Agreement and global ESG standards," he said.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Dr. Obi called for sustained IMF partnership -- both technical and financial -- to strengthen fiscal analytics, climate policy modelling, and carbon pricing readiness.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Leader of the IMF Technical Team, Mr. Diego Mesa, commended the Ministry for providing a detailed overview of Nigeria's energy and fiscal landscape, noting that the mission focused on fiscal reforms, sustainable development, and climate policy, with emphasis on fossil fuel and carbon taxation.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Officials of NUPRC and NMDPRA reaffirmed their commitment to eliminating gas flaring, refining tariff frameworks, and ensuring balance between investor returns and consumer protection.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Read the original article on Vanguard.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><b><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><b><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><b><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Kenya: Govt Exploring Investment Pathways for Kenyans in Diaspora to Send Money Home<o:p></o:p></span></b></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Nairobi — The government is empowering Kenyans in the diaspora to thrive and contribute to national growth.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>President William Ruto says the government has streamlined diaspora services, reduced passport processing time from three months to just three days for those with job offers, and is facilitating their travel to take up these opportunities.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>The President further said that to safeguard Kenyan workers, more than 600 rogue labour agencies have been deregistered adding that deployment is now limited to countries with formal bilateral labour agreements with Kenya.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>He further announced that the government is also pursuing new agreements to secure skilled and professional job opportunities for Kenyans abroad, enabling our youth to access better-paying roles, gain advanced skills, and bring valuable experience back home.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>At the same time, the government is exploring ways to make it cheaper and easier for Kenyans to send money home and creating more investment pathways, including through instruments such as the proposed diaspora bond, to strengthen their contribution to our economy.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>The President spoke in Doha, Qatar when he engaged the Kenyan diaspora community on the sidelines of the United Nations Social Development Summit.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Read the original article on Capital FM.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><b><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><b><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><b><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Kenya: Ruto Oversees Landmark Kenya-Qatar Financial Cooperation Agreement<o:p></o:p></span></b></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Nairobi — President William Ruto presided over the signing of a landmark agreement between the Nairobi International Financial Centre Authority (NIFCA) and the Qatar Financial Centre (QFC), marking a major step towards strengthening financial cooperation between Kenya and Qatar and positioning both nations as gateway hubs for global capital flows.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>The partnership establishes a strategic framework to integrate financial markets, expand cross-border investment opportunities, and accelerate the growth of Islamic finance and fintech innovation across the Africa-Gulf corridor.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Signed in Doha, the agreement focuses on reducing regulatory barriers to allow firms licensed in either jurisdiction to operate more seamlessly in both markets, paving the way for greater investment mobility and business expansion.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>A key pillar of the cooperation will be the joint development and promotion of Sharia-compliant financial instruments, including Sukuk and green Sukuk, aimed at unlocking sustainable capital for long-term infrastructure and climate-resilient development in Africa.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Keep up with the latest headlines on WhatsApp | LinkedIn<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>The move positions Nairobi as an emerging hub for Islamic finance innovation on the continent, leveraging Qatar's global leadership in the sector.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>The deal also establishes NIFCA as a launchpad for Qatari investment into Africa while enabling Kenyan firms to leverage the Qatar Financial Centre platform to access Gulf and international markets.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Efforts will include the creation of an investment facility to channel capital into strategic sectors in Kenya and the wider region.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>In addition, both sides committed to collaborating on fintech regulation, digital-assets policy frameworks, and financial innovation sandboxes to support emerging technologies and cross-border digital finance solutions. Executive training, leadership exchanges, and institutional capacity-building programmes will further support knowledge transfer and talent development.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>President Ruto welcomed the agreement as a milestone in strengthening economic ties and unlocking new avenues for investment and financial cooperation, noting that it aligns with the country's vision to position Nairobi as a premier regional financial hub.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Read the original article on Capital FM.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><b><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><b><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Nigeria: Tinubu's 15% Import Tariff Marks Bold Step Toward $1 Trillion Economy - Otedola<o:p></o:p></span></b></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>I commend President Bola Ahmed Tinubu for his bold and decisive step in implementing a 15 per cent import tariff on petrol and diesel. This policy represents a crucial move towards safeguarding local industries that have made substantial investments in domestic production and refining capacity.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>For decades, Nigeria's industrial base has suffered from the unchecked importation of cheaper and often substandard goods, a practice that crippled once-thriving sectors such as textiles, local vehicle assembly, and manufacturing. We cannot afford to allow history to repeat itself within the energy sector, particularly now that Nigeria possesses the capacity to meet its petrol and diesel requirements locally.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>This tariff not only protects the billions of dollars already invested in refining infrastructure but also underscores the government's commitment to driving industrialisation, creating employment, and building a sustainable energy future for our nation.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>This policy will also help establish a stable and sustainable pricing regime, contributing to greater control of inflation and long-term economic stability.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>President Tinubu's ability to deploy policy as a catalyst for economic transformation is truly commendable.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>His focus on empowering local producers and promoting value addition within Nigeria exemplifies the type of visionary leadership required to steer our nation towards realising its ambition of becoming a $1 trillion economy.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Read the original article on Leadership.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><b><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><b><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Nigeria: National Petroleum Company Plans Raising Stake in Dangote Refinery to 20%<o:p></o:p></span></b></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>The Nigerian National Petroleum Company Limited (NNPCL) has announced plans to increase its stake in the Dangote Petroleum Refinery to 20 per cent.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>This move aims to strengthen the nation's refining capacity and deepen the strategic partnership between Nigeria's state oil company and Africa's largest refinery.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>This development was revealed by the NNPC group chief executive officer, Bayo Ojulari, on Tuesday at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC 2025).<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>The NNPC currently holds a 7.2 per cent stake in the Dangote Petroleum Refinery, down from an earlier commitment of 20 per cent.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>The reduction followed NNPC's decision to cap its investment at the amount already paid, as it did not fulfil the full funding obligations initially agreed upon.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>NNPC is now seeking to increase its shareholding from 7.2 per cent back up to 20 per cent, aiming to deepen its participation in Africa's largest oil refinery once the refinery's next growth phase is well underway.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Speaking with Reuters, Ojulari said the NNPC had been improving transparency about its performance in preparation for a long-awaited initial public offering.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Nigeria's oil law requires NNPC to list within six months after the law was passed in 2021. It has yet to do so, although its finance chief said in March it was in the final stages of preparations.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>"The IPO journey is by law. The PIA (Petroleum Industry Act) prescribes that NNPC should journey towards achieving Initial public offer (IPO). It's not an option for us", Ojulari told Reuters.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>He added that the preparations required the company to become more transparent.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>"We have begun to publish our monthly performance since May this year, and that has continued", Ojulari added, without giving a timeline for the IPO.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>The Dangote Petroleum Refinery, Africa's largest oil refinery, launched operations last year but has struggled amid competition from cheap imports.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Last week, the NNPC CEO said it was seeking technical equity partners to help revive three of its refineries that have remained idle despite significant investments.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Furthermore, NNPC is actively seeking technical equity partners to revive three of its refineries, which have been inactive despite substantial past investments. This strategy aligns with Nigeria's broader energy security agenda, which aims to boost local refining capacity and decrease the country's heavy reliance on imported fuels.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>The Dangote refinery had earlier announced that it planned to gradually sell between five and 10 per cent of its shares on the Nigerian Exchange (NGX) within the next year as part of a phased public listing, targeting a shareholding structure where Dangote Group retains around 65 to 70 per cent.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>This move to increase NNPC's stake will come as the refinery continues its expansion plans, including increasing refining capacity to 1.4 million barrels per day, making it the world's largest refinery by capacity.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>The refinery's link with NNPC is integral to Nigeria's strategy to boost domestic refining capacity and reduce dependence on imported refined petroleum products.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>The Dangote Refinery, which began operations last year, is critical in Nigeria's ambition to reduce dependence on imported refined petroleum products.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Meanwhile, Ojulari led a high-level delegation to the NNPC booth at the ongoing ADIPEC 2025, reinforcing the company's commitment to global partnerships, energy equity, and sustainable investment.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>The GCEO's visit, which was welcomed by the executive vice president of Business Services, Sophia Mbakwe, and other senior executives, underscored NNPC's strategic presence at one of the world's most influential energy gatherings.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Read the original article on Leadership.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><b><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><b><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Rwanda: Why Rwanda's Micro-Enterprises Struggle to Create Decent Jobs<o:p></o:p></span></b></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>A new study by the Institute of Policy Analysis and Research (IPAR-Rwanda) has revealed that most businesses in Rwanda operate on a small scale, constrained by limited capital and basic tools, factors that restrict their ability to grow, hire more workers, and create decent jobs.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>The study, which examined the inclusion of Micro, Small and Medium Enterprises (MSMEs) in the labour market, surveyed 857 businesses across seven districts--Kigali, Musanze, Rubavu, Rusizi, Nyagatare, Muhanga, and Huye.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>MSMEs account for more than 90 per cent of enterprises in Rwanda and employ most of the non-farm labour force. Yet, the study found that "because of the constraints, their productivity and profits tend to be low, limiting their ability to offer stable and decent jobs."<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Most MSMEs are very small, with one to three employees making up nearly three-quarters of all enterprises. Small businesses with 4-30 workers represent less than a quarter, while medium-sized firms (31-100 employees) make up under 10 per cent.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Eugenia Kayitesi, IPAR-Rwanda's Executive Director, said that while tourism and construction lead in job creation, the findings underscore the importance of business formalisation, experience, and participation in government support programmes.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>"Policy interventions must enhance access to finance, skills upgrading, and formalisation to promote inclusive and sustainable job creation," she noted.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Low-skill, low-wage jobs dominate<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>The analysis shows that MSMEs are concentrated in trade (39 per cent) and services (28 per cent), followed by arts (12 per cent), agriculture (9 per cent), construction (7 per cent), and tourism (5 per cent).<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Most jobs in these sectors are low- to medium-skilled: 43 per cent are manual labour, 24 per cent technicians, and only 12 per cent professionals--highlighting a mismatch with Rwanda's vision for a knowledge-based economy.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Tourism was found to be the most dynamic sector for job creation, hiring an average of 56 new workers in the past year, followed by construction with 25. However, both sectors face high turnover due to reliance on short-term or seasonal labour.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Access to finance a key barrier<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>About 36 per cent of MSMEs find it "difficult" or "very difficult" to access loans.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>High collateral requirements and lending rates remain major obstacles, while few firms manage to secure loans from commercial banks.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Skills and infrastructure gaps<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>The study also highlights a shortage of qualified workers and a mismatch between education and market needs. "Employability is a key factor in job creation. The question is whether we have the right skills to meet the demands of the sector," said Angelina Muganza, Executive Secretary of the National Public Service Commission.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Outside Kigali, unreliable electricity, poor roads, and limited internet connectivity further constrain operations.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Low wages and limited social protection<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Most MSMEs provide low-wage jobs, with average monthly salaries below Rwf200,000. While 74 per cent of firms offer written contracts and 82 per cent pay the minimum wage, compliance with broader labour standards such as pension and health insurance remains low.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Formalisation and experience<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>The majority (72 per cent) of MSMEs operate as sole proprietorships, limiting their collective capacity and scalability. However, 90 per cent are formally registered with the Rwanda Development Board (RDB) or the Rwanda Cooperative Agency (RCA), although informality persists in sectors such as art and agriculture.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>The report recommends promoting MSME upgrading into higher-value sectors such as manufacturing, agro-processing, and ICT; expanding affordable financing; and investing in modular, demand-driven TVET training.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Other proposals include linking tax incentives to decent work outcomes, strengthening labour inspection, expanding digital market access, and promoting gender-inclusive job creation.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Bernard Nsanzimana, a researcher at the University of Rwanda, said gender data would help assess women's participation in job creation.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Dickson Malunda, a senior researcher, emphasised the need for affordable finance, regional inclusivity, and practical skills development, while Cyprien Sikubwayo, Vice-Chancellor of ULK University, said the findings offer "a clearer picture of how universities can better align graduates with labour market demands."<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Read the original article on New Times.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><b><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><b><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Nigeria: Dangote Refinery to Receive 5 Cargoes of Crude From NNPCL<o:p></o:p></span></b></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>The Nigerian National Petroleum Company Limited (NNPC Ltd) is expected to supply the 650,000 barrels-per-day Dangote Petroleum Refinery with five shipments of December-loading crude, according to a report by petroleumprice.ng.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Quoting industry traders, it was revealed that one of the consignments is expected to be delayed into early January.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>According to market sources, the refinery will lift one cargo each of light sweet Amenam and Bonny Light crude, as well as medium sweet CJ Blend and Forcados.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>A fifth consignment of light sweet Qua Iboe will load in late December but arrive about ten days later, in January.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>The allocation follows similar term deliveries in October and November, when Dangote also received five monthly cargoes from NNPC.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Tracking data show that Nigerian crude accounted for a larger share of Dangote's 445,000 b/d processed feedstock in October, overtaking imports of U.S. West Texas Intermediate (WTI).<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>The company reportedly purchased three additional October spot-market cargoes, up from just one in September.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>While WTI often presents a cost advantage even after the longer voyage to Nigeria, local grades become more competitive when transatlantic freight costs rise or when European demand for Nigerian barrels softens.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Daily Trust reports that Dangote Group had unveiled plans to double its refining capacity by increasing the production from 650,000 bpd to 1.4m bpd.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>There have been mixed feelings over the availability of crude feedstock to meet the capacity; the fear dismissed by the President of Dangote Group, Alhaji Aliko Dangote during a recent press conference to unveil the new plan.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Our correspondent reports that the Federal Government had unveiled a naira-for-crude arrangement to improve crude supply for domestic refineries by paying in naira instead of dollars.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>However, since the naira-for-crude programme commenced, Dangote Industries has repeatedly stated that it is yet to receive sufficient volumes of Nigerian crude to run at full capacity, even under the federal government's crude-for-naira arrangement.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Meanwhile, experts at the recent panel discussion on "Dangote, Oil and Power in Nigeria" convened virtually under the Toyin Falola Interview Series called for support for Dangote refinery and other local players in the downstream sector to promote industrialization.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>'Nigeria's 4 refineries have only churned out 144,000 barrels'<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>One of the panelists, Dr. Mobolaji Aluko said Dangote had done what Nigeria has not been able to do for decades.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>He disclosed that Nigeria in the last 65 years had only been able to refine 144,000 barrels of crude oil with the four state-owned refineries in Port Harcourt, Warri and Kaduna.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Aluko who stated that he worked in a refinery Port Harcourt in the 70s when the refineries were working stated that the Dangote Refinery is a strategic asset that must be protected.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>"It's a strategic asset and it must be protected for the nation to move forward, if you don't have it you must buy it, and if you have it, it is ridiculous for you again to have to import.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>"As far as Dangote Refinery is concerned, the fact of the matter is that for 60 years, 65 years that we have been a country, we only tried to refine 144,000 barrels of oil per day in four refineries and we've been struggling to have that, and here comes the person who invested $20 billion to do 650,000 barrels per day, that is four times what our four refineries are trying to do and the fact that they've recently announced plans to double that to 1.4 million barrels per day that is to be commended."<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>The expert advised the regulator not to regulate a new baby with "a heavy hand," adding, "I think the best that we can do as a nation is to support him by all means necessary. There is no doubt that there is fear of monopoly, there is no doubt that there is fear of worker's abuse, there is no doubt that all the issues of monopoly are there but we have to look at other industries whether he has not allowed other players to participate..."<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>On his part, Prof. Jibrin Ibrahim stated that such an industry must not be sabotaged and at the same time must be supported because it is the pathway to Nigeria's industrialization.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>"It is really important having gone through decades of struggling to get the Nigerian state to fix the refineries," he stated, adding that he had joined others in protest against the bad state of the state-owned refineries.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>"My position is that I am a Dangote fan and I have not always been a Dangote fan. I had a long transition from being a Dangote hater to a Dangote fan and that transition took 40 years," he stated.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>On his part, Labour leader, Owei Lakemfa said, "We would not allow a situation where workers become slaves. Let Dangote face his business and let the workers face their business."<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>UPDATE NEWS: As a Nigerian, do you need access to US Dollars? It is now possible to live in Nigeria or Diaspora and constantly get paid in US Dollars. Find out how thousands are doing it daily.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>IDEAL FOR Civil/Public servants, Engineers, Doctors, Entrepreneurs, IT Experts/Software Developers, Top Bankers and more.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Click here to start.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>Read the original article on Daily Trust.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'> </span><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='line-height:105%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm;height:10.05pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td></tr><tr style='height:10.05pt'><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm;height:10.05pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td></tr><tr style='height:10.05pt'><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm;height:10.05pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td></tr><tr style='height:10.05pt'><td width=910 colspan=4 valign=top style='width:682.8pt;border:solid #BFBFBF 1.0pt;border-top:none;padding:0cm 5.4pt 0cm 5.4pt;height:10.05pt'><p class=MsoNormal style='line-height:105%;background:white'><span lang=X-NONE style='mso-fareast-language:EN-ZW'> </span><i><span lang=EN-US style='font-size:10.0pt;line-height:105%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-ZW'>Invest Wisely!</span></i><span lang=EN-US style='mso-fareast-language:EN-ZW'><o:p></o:p></span></p><p class=MsoNormal style='line-height:105%;background:white'><b><span lang=EN-US style='font-size:10.0pt;line-height:105%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-ZW'>Bulls n Bears </span></b><span lang=EN-US style='mso-fareast-language:EN-ZW'><o:p></o:p></span></p><p class=MsoNormal style='line-height:105%;background:white'><span lang=EN-US style='font-size:10.5pt;line-height:105%;font-family:"Courier New";color:black;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='line-height:105%;background:white'><span lang=EN-US style='font-size:10.5pt;line-height:105%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-ZW'>Cellphone: +263 71 944 1674 | +27 79 993 5557 <o:p></o:p></span></p><p class=MsoNormal style='line-height:105%;background:white'><span lang=EN-US style='font-size:10.5pt;line-height:105%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-ZW'>Email: </span><span lang=EN-US><a href="mailto:bulls@bullszimbabwe.com"><span style='font-size:10.5pt;line-height:105%;font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>bulls@bullszimbabwe.com</span></a></span><span lang=EN-US style='font-size:10.5pt;line-height:105%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-ZW'><o:p></o:p></span></p><p class=MsoNormal style='line-height:105%;background:white'><span lang=EN-US style='font-size:10.5pt;line-height:105%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-ZW'>Website: </span><span lang=EN-US><a href="http://www.bullszimbabwe.com"><span style='font-size:10.5pt;line-height:105%;font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>www.bullszimbabwe.com</span></a></span><span lang=EN-US style='font-size:10.5pt;line-height:105%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-ZW'> <o:p></o:p></span></p><p class=MsoNormal style='line-height:105%;background:white'><span lang=EN-US style='font-size:10.5pt;line-height:105%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-ZW'>Blog: </span><span lang=EN-US><a href="http://www.bullszimbabwe.com/blog"><span style='font-size:10.5pt;line-height:105%;font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>www.bullszimbabwe.com/blog</span></a></span><span lang=EN-US style='font-size:10.5pt;line-height:105%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-ZW'><o:p></o:p></span></p><p class=MsoNormal style='line-height:105%;background:white'><span lang=EN-US style='font-size:10.5pt;line-height:105%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-ZW'>Twitter (X): @bullsbears2010<o:p></o:p></span></p><p class=MsoNormal style='line-height:105%;background:white'><span lang=EN-US style='font-size:10.5pt;line-height:105%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-ZW'>LinkedIn: Bulls n Bears Zimbabwe<o:p></o:p></span></p><p class=MsoNormal style='line-height:105%;background:white'><span lang=EN-US style='font-size:10.5pt;line-height:105%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-ZW'>Facebook: </span><span lang=EN-US><a href="http://www.facebook.com/BullsBearsZimbabwe"><span style='font-size:10.5pt;line-height:105%;font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>www.facebook.com/BullsBearsZimbabwe</span></a></span><span lang=EN-US style='font-size:10.5pt;line-height:105%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-ZW'><o:p></o:p></span></p><p class=MsoNormal style='text-indent:33.35pt;line-height:105%'><span lang=EN-US><img border=0 width=278 height=115 id="_x0000_i1028" src="cid:image004.png@01DC4D76.3B40E2A0"></span><span lang=EN-US style='mso-fareast-language:EN-ZW'><o:p></o:p></span></p><p class=MsoNormal style='line-height:105%'><span lang=EN-US><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:auto;margin-left:36.0pt;line-height:115%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm;height:10.05pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td></tr><tr><td width=910 colspan=4 style='width:682.8pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p> </o:p></span></p><p class=MsoNormal style='line-height:105%'><strong><span lang=EN-US style='font-family:"Verdana",sans-serif;color:#345883'>INVESTORS DIARY 2025</span></strong><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p></o:p></span></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'> <o:p></o:p></span></p></td></tr><tr style='height:3.25pt'><td width=175 style='width:131.3pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='text-indent:12.6pt;line-height:105%'><b><span lang=EN-US style='font-family:"Verdana",sans-serif'>Company</span></b><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p></o:p></span></p></td><td width=207 style='width:155.5pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal 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1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US><o:p> </o:p></span></p></td><td width=175 valign=top style='width:131.3pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-size:10.0pt;line-height:105%;font-family:"Trebuchet MS",sans-serif'><o:p> </o:p></span></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm;height:3.25pt'><p class=MsoNormal style='margin-left:72.0pt;text-indent:-72.0pt;line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td></tr><tr style='height:3.25pt'><td width=175 valign=top style='width:131.3pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p 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lang=EN-US style='font-size:10.0pt;line-height:105%;font-family:"Trebuchet MS",sans-serif'><o:p> </o:p></span></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm;height:3.25pt'><p class=MsoNormal style='margin-left:72.0pt;text-indent:-72.0pt;line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td></tr><tr style='height:3.25pt'><td width=175 valign=top style='width:131.3pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US><o:p> </o:p></span></p></td><td width=207 style='width:155.5pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-size:10.0pt;line-height:105%;font-family:"Trebuchet MS",sans-serif'><o:p> </o:p></span></p></td><td width=353 style='width:264.7pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US><o:p> </o:p></span></p></td><td width=175 valign=top style='width:131.3pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-size:10.0pt;line-height:105%;font-family:"Trebuchet MS",sans-serif'><o:p> </o:p></span></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm;height:3.25pt'><p class=MsoNormal style='margin-left:72.0pt;text-indent:-72.0pt;line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td></tr><tr style='height:3.25pt'><td width=382 colspan=2 valign=top style='width:286.8pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#D9D9D9;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><b><span lang=EN-US style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif;color:black'>Companies under Cautionary<o:p></o:p></span></b></p></td><td width=353 style='width:264.7pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#D9D9D9;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><b><span lang=EN-US style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif;color:black'><o:p> </o:p></span></b></p></td><td width=175 valign=bottom style='width:131.3pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#D9D9D9;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><b><span lang=EN-US style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif;color:black'><o:p> </o:p></span></b></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td></tr><tr style='height:3.25pt'><td width=382 colspan=2 valign=top style='width:286.8pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><span lang=EN-US style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td><td width=353 style='width:264.7pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><span lang=EN-US style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td><td width=175 valign=bottom style='width:131.3pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><span lang=EN-US style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td></tr><tr style='height:3.25pt'><td width=382 colspan=2 valign=top style='width:286.8pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><span lang=EN-US style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'>CBZH<o:p></o:p></span></p></td><td width=353 style='width:264.7pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><span lang=EN-US style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'>GetBucks<o:p></o:p></span></p></td><td width=175 valign=bottom style='width:131.3pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><span lang=EN-US style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'>EcoCash<o:p></o:p></span></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'> <o:p></o:p></span></p></td></tr><tr style='height:3.25pt'><td width=382 colspan=2 valign=top style='width:286.8pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><span lang=EN-US style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'>Padenga<o:p></o:p></span></p></td><td width=353 style='width:264.7pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><span lang=EN-US style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'>Econet<o:p></o:p></span></p></td><td width=175 valign=bottom style='width:131.3pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><span lang=EN-US style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'>RTG<o:p></o:p></span></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td></tr><tr style='height:3.25pt'><td width=382 colspan=2 valign=top style='width:286.8pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><span lang=EN-US style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'>Fidelity<o:p></o:p></span></p></td><td width=353 style='width:264.7pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><span lang=EN-US style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'>TSL<o:p></o:p></span></p></td><td width=175 valign=bottom style='width:131.3pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><span lang=EN-US style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'>FMHL<o:p></o:p></span></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td></tr><tr style='height:3.25pt'><td width=382 colspan=2 valign=top style='width:286.8pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><span lang=EN-US style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td><td width=353 style='width:264.7pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><span lang=EN-US style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td><td width=175 valign=bottom style='width:131.3pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><span lang=EN-US style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td></tr><tr style='height:99.35pt'><td width=910 colspan=4 style='width:682.8pt;border:solid #BFBFBF 1.0pt;border-top:none;padding:0cm 5.4pt 0cm 5.4pt;height:99.35pt'><p class=MsoBodyText align=center style='margin:0cm;margin-bottom:.0001pt;text-align:center;line-height:105%'><span lang=EN-US><a href="mailto:info@bulls.co.zw"><span lang=EN-ZW style='color:windowtext;mso-fareast-language:EN-ZW;text-decoration:none'><img border=0 width=804 height=268 id="Picture_x0020_2" src="cid:image005.jpg@01DC4D76.3B40E2A0"></span></a></span><span lang=EN-US style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'><o:p></o:p></span></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm;height:99.35pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'> <o:p></o:p></span></p></td></tr><tr><td width=910 colspan=4 valign=top style='width:682.8pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#1F497D;padding:0cm 5.4pt 0cm 5.4pt'><p class=MsoNormal style='line-height:105%'><i><span lang=EN-US style='font-size:8.0pt;line-height:105%;font-family:"Verdana",sans-serif'><o:p> </o:p></span></i></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'> <o:p></o:p></span></p></td></tr><tr><td width=910 colspan=4 valign=top style='width:682.8pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#1F497D;padding:0cm 5.4pt 0cm 5.4pt'><p class=MsoNormal style='line-height:105%'><i><span lang=EN-US style='font-size:8.0pt;line-height:105%;font-family:"Verdana",sans-serif;color:white'>DISCLAIMER: This report has been prepared by Bulls ‘n Bears, a division of Faith Capital (Pvt) Ltd for general information purposes only and does not constitute an offer to sell or the solicitation of an offer to buy or subscribe for any securities. The information contained in this report has been compiled from s believed to be reliable, but no representation or warranty is made or guarantee given as to its accuracy or completeness. All opinions expressed and recommendations made are subject to change without notice. Securities or financial instruments mentioned herein may not be suitable for all investors. Securities of emerging and mid-size growth companies typically involve a higher degree of risk and more volatility than the securities of more established companies. Neither Faith Capital nor any other member of Bulls ‘n Bears nor any other person, accepts any liability whatsoever for any loss howsoever arising from any use of this report or its contents or otherwise arising in connection therewith. Recipients of this report shall be solely responsible for making their own independent investigation into the business, financial condition and future prospects of any companies referred to in this report. Other Indices quoted herein are for guideline purposes only and d from third parties.</span></i><i><span lang=EN-US style='font-size:8.0pt;line-height:105%;font-family:"Verdana",sans-serif'><o:p></o:p></span></i></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'> <o:p></o:p></span></p></td></tr><tr><td width=910 colspan=4 valign=top style='width:682.8pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt'><p class=MsoNormal style='line-height:105%'><i><span lang=EN-GB style='font-size:8.0pt;line-height:105%;font-family:"Verdana",sans-serif;color:white'><o:p> </o:p></span></i></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'> <o:p></o:p></span></p></td></tr><tr><td width=910 colspan=4 valign=top style='width:682.8pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-GB style='mso-fareast-language:EN-ZW'> (c) 2025 Web: </span><span lang=EN-US><a href="http://www.bullszimbabwe.com"><span lang=EN-GB style='mso-fareast-language:EN-ZW'>www.bullszimbabwe.com</span></a></span><span lang=EN-GB style='mso-fareast-language:EN-ZW'> Email: </span><span lang=EN-US><a href="mailto:bulls@bullszimbabwe.com"><span lang=EN-GB style='mso-fareast-language:EN-ZW'>bulls@bullszimbabwe.com</span></a></span><span lang=EN-GB style='mso-fareast-language:EN-ZW'> Tel: +27 79 993 5557 | +263 71 944 1674</span><span lang=EN-US style='mso-fareast-language:EN-ZW'><o:p></o:p></span></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'> <o:p></o:p></span></p></td></tr><tr><td width=910 colspan=4 valign=bottom style='width:682.8pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-size:8.0pt;line-height:105%;font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'> <o:p></o:p></span></p></td></tr></table></div><p class=MsoNormal><span lang=EN-US><o:p> </o:p></span></p><p class=MsoNormal><span lang=EN-US><o:p> </o:p></span></p><p class=MsoNormal><span lang=EN-US><o:p> </o:p></span></p><p class=MsoNormal><span lang=EN-US><o:p> </o:p></span></p></div></body></html>