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Nigeria Drops To 14 As Egypt Tops Africa’s Investment Destinations

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The PUNCH reports that Nigeria has dropped from Africa’s top 10 investment destinations to 14 as Egypt remains the number one nation.

This is according to a report by RMB titled, ‘Where to Invest in Africa 2021.’

According to RMB, a division of FirstRand Bank Limited, the ranking is based on countries operating environments.

RMB Africa Economist, Daniel Kavishe, said the pandemic ushered a new world and a new approach to this year’s list.

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Kavishe said, “We created a new set of rankings that incorporated some of the unavoidable COVID-19-induced challenges, of which the operating environment score was one.”

According to him, fiscal scores are important indicators of how governments respond to COVID-19.

He said, “The inclusion of a fiscal score in our rankings aimed to score governments’ fiscal positions and provided a basis from which investors can understand specific jurisdictions.

“Although the pandemic brought devastation, it also enabled opportunities for reimagining policies and trade relationships. Increasingly clear now is that home-grown strategies to tackle poverty, inequality and unemployment across Africa must be implemented. If not, all of Africa suffers.”

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According to him, capital will flow naturally to economies offering a good mix of opportunity and ease of doing business.

According to the company, the top 10 African countries to invest in are Egypt, Morocco, South Africa, Rwanda; Botswana, Ghana, Mauritius, Côte d’Ivoire, Kenya and Tanzania.

The company ranked Nigeria outside the top 10 at number 14.

The company said, “The sheer size of Nigeria’s economy and large population base has undoubtedly aided the country’s economic environment and has led to an increase in investments in the economy over the past 10 years.

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“The country boasts significant hydrocarbon resources and considerable agricultural and mining potential. With fiscal support expected to increase and continue over the next few years, given both the coronavirus shock and oil price collapse, the economy is expected to grow but at a slow and steady pace.

“One of the key tenets for its development will be the efforts that have been made to support small and medium enterprises through monetary policy reform. This should support the country’s efforts as it continues its expansion into sectors such as information technology.”

However, the company said Nigeria’s heavy reliance on oil is impacting its economy.

The company said, “Nigeria’s heavy reliance on oil means that the drop in oil prices and production generated by the OPEC+ agreement is strongly impacting the economy. COVID-19 came at a time when the economy was still rebalancing from the drop in oil prices during the 2014 to 2016 period.

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“Therefore, a lower drop in reserves, tight liquidity and a weak currency can still be expected. The government, which has been criticised for its slow pace of reform, still faces a myriad of security challenges that destabilise the country, such as the activity of the Islamist terrorist group Boko Haram in the northeast, forcing many people to flee.”

In 2018 and 2019, Nigeria was ranked in the top 10 (eighth in both years).

Although the company added that the nation’s economy was constrained by a weak policy environment and dire infrastructure provision.

According to the company, Nigeria was ranked 13 in 2017, and ranked number six in 2016.

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In 2014, Nigeria ranked as number two and dropped to number five in 2015.

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Olori Kafayat Adeyemi Dies In The US, 2months After Alaafin’s Death

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One of the wife’s of the late Alaafin of Oyo, Oba Lamidi Adeyemi has joined her ancestors.

The Oyo palace was thrown into mourning following the announcement of Olori Kafayat Adeyemi.

The queen was said to have died on Friday, July 1st, in the United States, barely two months after her husband, the Alaafin died in April.

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Though details of her death is still sketchy as of the time of this report, sources confirm that she died on Friday night.

The Director of Media and Publicity at the Alaafin’s Palace, Mr. Bode Durojaye, confirmed the incident on Saturday morning. He said:

”She died in the United States of America. I will give you the details later.”

Olori Kafayat Adeyemi was the fourth wife of the late Oba Adeyemi III. She was the mother of Prince Adebayo Adeyemi (D’Gov), who is the chairman of the Oyo State Local Government Pensions Board.

Before her demise, she was known as Iya Aguo or Iya Ibeji in Oyo Kingdom.

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Recall, the monarch, Alaafin of Oyo, Lamidi Adeyemi was announced dead on April 23rd, 2022.

According to the Premium Times, Alaafin Adeyemi, the third from the Alowodu Ruling House, died in the late hours of Friday, April 23rd at the Afe Babalola University Teaching Hospital, Ado Ekiti.

The remains of the top Yoruba traditional ruler were brought to Oyo in the early hours of Saturday, April 24 and traditional rites began.

He was 83 years old and the longest reigning Alaafin ever, having ruled for 52 years.

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Nigerian Couple Welcome Twins After 14 Years Of Waiting

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A Nigerian couple identified as Samuel and Joy Olorunfemi have been blessed with a set of twins, a boy and girl, in June, 2022, after waiting 14 years for the fruit of the womb.

Joy’s brother, Ohimai Abraham took to his social media page to share the good news and also share photos of the proud parents.

He captioned the post;

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“IT’S LIKE A DREAM. Where do I even start from? “This woman you see here is my immediate elder sister. She was married and trusting God for the fruit of the womb since 2008.”

It has been 14 solid years of trials, temptations, mockery, disappointment, weeping, crying and dispair.

Men thought they had the final say throughout these 14 years. But Yahweh who rememberd Sarah has proven to men that Him and Him alone have the final say. He proved Himself in our lives by settling my darling sister with a balanced set of twins (a boy and a girl).

Since the news of her delivery got to me since Sunday last week I have been so overjoyed that i couldn’t even think of what to write and post. Now, I fully understand the meaning of Psalm 126:1-3:

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“When the LORD turned again the captivity of Zion, we were like them that dream. Then was our mouth filled with laughter, and our tongue with singing: then said they among the heathen, The LORD hath done great things for them. The LORD hath done great things for us; whereof we are glad.”

Indeed, what God can not do does not and can not exist. I beg make una join shout two solid Hallelujah to Jesus Christ our Lord.

Double Congratulations to my personal people Mr & Mrs Joy Olorunfemi Samuel Olorunfemi aka Papa & Mama Twins.

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Chinese Father Breaks Down In Tears After Son He Tutored Daily For 1 Year Scored 6/100 On A Math Exam

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A Chinese father was reduced to tears after the son he tutored daily for one year scored 6 out of 100 on a math exam.

The father who resides in Zhengzhou, Henan Province, received his son’s exam result on Thursday, June 23, and was filled with disappointment after seeing his math score.

A video trending in the Chinese cyberspace shows the father weeping uncontrollably upon seeing that his son scored only six points out of 100 in Math.

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He could be seen crying in a bedroom and wiping his tears while his wife could be heard laughing in the background.

“I don’t care anymore, my efforts are wasted, let him struggle by himself!” the father was quoted as saying.

According to the child’s mother, her husband taught their son math for hours every single day for the past one year and his result really broke his heart.

She said he was mainly disappointed because their son has been failing consistently in school and has been scoring between 40-50 points in previous examinations.

In other news, a heartbreaking video circulating online shows the moment a businesswoman broke down in tears after opening a bale she bought and discovered that it was filled with rags.

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In the video, the distraught woman who sells second-hand clothes also known as Okrika, could be seen crying uncontrollably as she checked the clothes in the bale.

According to her, she borrowed the money used in buying the bale and now she’s left with nothing because she can’t sell the rags.

She is heard saying, “God wetin I go do? I no get husband, children dey for school, God where are you”.

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Man Stripped Down To His Underwear After He Entered RCCG Church Disguised As A Woman

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A man was stripped down to his underwear after he was caught disguised as a woman at a branch of the Redeemed Christian Church of God (RCCG) in Lagos.

It was gathered that the suspected criminal went to the RCCG Solid Rock Chapel in the Ojodu area of Lagos state, in the early hours of Thursday, June 30, dressed as a woman.

A security guard became suspicious of him and moved to confront and search him as part of the security protocols of the church.

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While being searched, the security guard discovered that he was a man disguised as a woman and found three phones in his possession.

An eyewitness who gave an account of the incident said;

“He came to church this morning as a woman but our guard suspected him.

“After much talk, they suspected he is not what he claimed to be. The church guard had to undress him before we discovered that he is a man but dressed to church like a woman.

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“We don’t know his mission yet but he been handed over to the police.

“We found three phones with him and a lot of things. He also said he is a Yahoo guy and that he has a Facebook account where he deceives people as he disguises as woman.”

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