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ACI, Coca-Cola engage 100 residents to pick plastics for cleaner Lagos

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ACI, Coca-Cola engage 100 residents to pick plastics for cleaner Lagos


The African Clean-Up Initiative (ACI) says it has engaged 100 residents of Ijora Oloye to pick pet bottles for a cleaner city of Lagos.

Mr Alexander Akhigbe, Chief Executive Officer of African Clean-Up Initiative, told the News Agency of Nigeria on Thursday in Lagos that the initiative was undertaking in collaboration with Coca-Cola Nigeria Ltd.

Akhigbe said the initiative was also to improve the means of livelihood of the down trodden in the area, especially in this era of COVID-19 pandemic.

Akhigbe commended Coca-Cola Nigeria Ltd for increasing the earnings of those engaged in the project.

“The compensation by Coca-Cola motivated those engaged. The project has made the environment cleaner and free from flood.

“I also commend the effort of some NGOs, such as Inspired Next Initiative, Quivers Foundation, Yagazi Foundation, Weblers Foundation, among others, for providing face masks and other sanitary items to the participants,” he said.

Akhigbe said those engage would pick up the pet bottles twice a week in Ijora to prevent the plastic bottles from blocking the drains in the area.

“We also sensitise the people on the dangers of the waste to the environment.

“They understood that plastic has value, so they go around their community to encourage others to pick up pet bottles and earn little income,”Akhigbe said.

The Programme Director, Inspired Next Initiative (INI), Mr Charles Anthony, pleaded with the government at all levels to create more awareness on the dangers of blocking the drains with pet bottles.

One of the participants, Mrs Jemila Komolu, who was a cleaner with the Lagos State Waste Management Authority (LAWMA), said the initiative was good to prevent environmental hazards.

“The project gives me more money and I have encouraged others to participate in the exercise,” she said.

Edited By: Joe Idika/Wale Ojetimi (NAN)

Aisha Cole: is a graduate and a professionally trained journalist, with experience in national news reporting/editing and verification at the News Agency of Nigeria. NNN is a Nigerian online news portal that publishes breaking news in Nigeria, and across the world. Our journalists are honest, fair, accurate, thorough and courageous in gathering, reporting and interpreting news in the best interest of the public, because truth is the cornerstone of journalism and they strive diligently to ascertain the truth in every news report. Contact: editor[at]nnn.com.ng

Foreign

Australia records deadliest day of pandemic as Melbourne cases surge

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Australia’s second-most populous state of Victoria has experienced another record-breaking daily increase in COVID-19 cases and related deaths, making it the country’s deadliest day of the coronavirus pandemic.


The state recorded 725 new virus cases and 15 COVID-19-related deaths, including a man, aged 30 years, Australia’s youngest coronavirus victim, Victorian Premier, Daniel Andrews, said on Wednesday.

Both figures mark the worst day of the pandemic for the state, as well as nationally, since the pandemic started.

The death toll from the virus in Victoria is now 162, while it is 247 nationally.

Most of the new cases and deaths overnight were in Victoria’s capital city, Melbourne.

For more than a month, Victoria has consistently recorded triple-digit daily case numbers amid a second wave that broke out in Melbourne in late June.

The state’s previous record was 723 new cases on July 30.

Earlier this week, Andrews declared a state of disaster and imposed tough new restrictions on Melbourne, including a night-time curfew and closing down businesses, retail shops and manufacturing.

Andrews said, on Wednesday, that essential workers will be required to show they have a permit to leave their homes if asked by the Police from Thursday onwards.

While healthcare workers and police officers can use their official identification, all others have to apply for the permit online.

Restrictions, which are in place until Sept. 13, also prohibit residents from travelling more than five kilometres from their home to go grocery shopping or exercise.

All recreational activities and weddings have been banned and face masks are mandatory.

AIB

Edited By: Abdulfatah Babatunde (NAN)

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Economy

Dollar slips as yields dive on recovery worries

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The dollar fell in Asia on Wednesday, hitting a five-month low on the yuan.


This is as the latest coronavirus relief package stalled in Congress and United States yields sank on the prospect that further monetary easing might be needed to support the economy.

A hardening perception that the United States recovery is lagging Europe has buttressed the euro, which has repelled a rebound in the dollar and rose back above $1.18 on Wednesday.

At the same time speculation that stalemate over fiscal policy in Washington could leave the Federal Reserve with more to do, has hastened a steady decline in United States yields – undermining the dollar more broadly.

Sterling, the Australian dollar and the kiwi all climbed back toward pre-pandemic highs, while the yen rose and gold soared as real yields plumbed record lows.

“United States economic outperformance, relative to the eurozone and Japan, is no longer guaranteed given the damage from the COVID-19 pandemic,’’ said Tai Hui, J.P. Morgan Asset Management’s chief strategist in Asia.

“Dollar interest rates are also converging to other developed economies’ interest rates, which means that the dollar is less appealing,’’ Hui said.

He added it is difficult to see the Fed easing policy ahead of its global peers.

The Australian dollar led gains among the majors with a 0.4 per cent rise to $0.7189.

Ten-year Australian government debt now yields about 31 basis points more than 10-year United States government debt, up from 16 basis points two months ago.

The New Zealand dollar rose 0.3 per cent to $0.6646, catching some support from a surprise dip in the jobless rate.

The yen rose 0.1 per cent to 105.60 per dollar and sterling edged higher to $1.3091.

Even the Chinese yuan, which had struggled to capitalise on the dollar’s weakness amid simmering Sino-United States tensions, forged higher to a five-month top of 6.9570 per dollar in onshore trade.

Other Asian currencies also made gains, notably the Malaysian ringgit, which was stronger than 4.2 per dollar for the first in five months.

The dollar has been sliding since March, but its prime antagonist in recent weeks has been the euro, which in July posted its best month in almost 10 years.

That has the common currency more or less back where it began life in 1999 and has many investors convinced it can keep climbing as a Europe-wide fiscal relief package anchors recovery and allays perennial worries about the bloc’s stability.

“Right now, looming long-term negative United States issues – like the dollar’s reserve status as the United States and China decouple – are at the forefront of FX concerns and not the euro’s structural problems,’ said Deutsche Bank strategist, Alan Ruskin.

“The door to $1.20+ remains wide open,’’ he said.

For now, eyes are on Washington where White House negotiators have vowed to work “around the clock” with congressional Democrats to try to reach a deal on coronavirus relief by the end of this week.

The next economic updates are due later on Wednesday, with services surveys in Britain and Europe in the morning and United States private payrolls data around 1215 GMT.

Investors expect steady services growth in Europe and a slowdown in the United States in hiring, with surprises on any front likely to illuminate the apparent divergence between Europe and the United States

Analysts at ING have also noted that equity investors have yet to really buy into the European recovery story – and say a pile-in could provide even more support to the currency.

“Buy-side surveys suggest that investors are still heavily overweight United States equities, especially tech stocks, and are minded to rotate into the Eurozone and see the euro as cheap,’’ said ING’s global head of markets, Chris Turner.

“If that rotation comes to pass … then euro/dollar may be a $1.25 story after all.’’

AIB

Edited By: Abdulfatah Babatunde (NAN)

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COVID-19

COVID-19: Nigeria’s total hits 44,433 as NCDC announces 304 new cases, 910 deaths

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Nigeria’s COVID-19 total cases have now reached 44,433 after the Nigeria Centre for Disease Control (NCDC) announced 304 new cases and 910 deaths from infections in the country.


The NCDC made this known on its official twitter handle on Tuesday.

Data from the health agency showed that the 304 new cases were spread across 18 states and the Federal Capital Territory, (FCT).

According to it, as of Aug. 4, 14 deaths were recorded in the country.

Till date, 44,433 cases have been confirmed out of which 31,851 cases have been discharged and 910 deaths recorded nationwide.

The NCDC said that the 304 new cases were reported from FCT (90), Lagos (59), Ondo (39), Taraba (18), Rivers (17), Borno (15), Adamawa (12), Oyo (11) and Delta (9).

Others were Edo (6), Bauchi (4), Kwara (4), Ogun (4), Osun (4), Bayelsa (3), Plateau (3), Niger (3), Nasarawa (2) and Kano (1).

Meanwhile, the agency warned that the coronavirus does not care if a person ‘believe’ in use of face masks or not.

“You may not believe in the virus, but the virus sure believes in you.

“Do not wear masks with valves.

“Why? Because a valve acts as an open doorway, allowing your breath to leave the mask and putting those around you at risk of catching COVID-19.

“Again, there are many ways to wear a mask incorrectly, but only one way to maximise protection; wear a well-fitted mask with gaps.

“Check if your mask fit before going outside, it is really simple.

“Step 1, inhale: Your mask should pull on your face.

“Step 2, exhale: Your mask should expand.

“Step 3, check leaks: There should be no major leaks.

“Readjust your mask if there are leaks for best protection, your mask should fit well,’’ it advised.

The NCDC said that Nigerians were still in the middle of a pandemic and need to remain extremely careful to keep the gains of the sacrifices they have all made since March.

“Even if you wear protective mask in public, it is important that you also use other preventive measures, stay at least two metres away from other people.

“Wash your hands frequently with soap and water.

“Avoid touching your face with unwashed hands; cover your coughs and sneezes.’’

It, however, said that coronavirus could not overwhelm Nigerians.

“There’s an end; let’s just do the needful,’’ it stated.

The News Agency of Nigeria reports that since the emergence of COVID-19 in the country, the statistics from NCDC reveals a gradual decline in daily recorded cases from July 27.

The figures have reduced significantly over the past seven days with the lowest figure over this timeline, being 288 recorded on Aug. 3.

Between June and July, new cases had risen to as high as 790 on July 1.

With the recent trend, the case rate is slowing down in the country.

Edited By: Chidinma Agu/Abdulfatah Babatunde (NAN)

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Oil & Gas

PPMC fixes ex-depot price of PMS at N138.62 per litre

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The downstream subsidiary of Nigerian National Petroleum Corporation (NNPC), Petroleum Products Marketing Company (PPMC), has fixed the ex-depot price of premium motor spirit (PMS), known as petrol at N138.62 per litre.


PPMC disclosed this in a memo signed by its Manager, Sales, Mohammed Bello, in Abuja, on Tuesday.

The ex-depot price is the price at which depot owners sell the commodity to retail outlets.

It said that that the new price would come into effect from Aug. 5.

The PPMC also put the ex-coastal price of the commodity, which is the price at which the product is sold to depot owners, at N113.70 per litre.

The ex-depot price for automotive gasoline oil (AGO), also known as diesel, was fixed at N160 per litre and N165 per litre, for depots in Lagos and Oghara respectively.

It further fixed the ex-depot price for kerosene at N160 per litre.

The News Agency of Nigeria reports that the Petroleum Products Pricing for Regulatory Agency (PPPRA) was yet to release the monthly pricing modulation for petroleum products for August.

The pricing modulation determines the pump price that the products will be sold to motorists. 

Edited By: Chidinma Agu/Abdulfatah Babatunde (NAN)

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Contact US: editor @nnn.com.ng, nnnnews247 @gmail.com

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