Author: Chronicle Editor

President Muhammadu Buhari has expressed regrets over the neglect of the cocoa sector over the years, saying his administration will work to reposition it and other non-oil export commodities. Buhari said this at the First International Cocoa Summit organised by the Federal Ministry of Trade and Investment in collaboration with Cocoa Association of Nigeria (CAN) in Abuja on Monday. The President, represented by Chief Audu Ogbeh, the Minister of Agriculture and Rural Development, said that the country’s annual production of cocoa declined from 420,000 tonnes in the 60s to 192,000 tonnes in 2015. He noted that the position of the…

Barcelona have completed a deal to sign Borussia Dortmund forward Ousmane Dembele for an initial £96.8m fee, potentially rising to £135.5m. The 20-year-old France international signed a five-year contract at the Nou Camp alongside the club’s president Josep Maria Bartomeu on Monday. The deal is the second most expensive of all time, eclipsed only by Neymar’s recent £200m move to Paris St-Germain. Barca said Dembele’s contract has a release clause of 400m euros (£369.6m). Dembele said: “I’m very happy to be here. It has always been my dream to be at Barcelona and now I’m here I’m very happy to…

A Nigerian court seized $21 million on Monday from bank accounts linked to a former oil minister accused of corruption as investigators continue to claw back her fortune. Federal high court judge Abdulazeez Anka ordered the immediate forfeiture of 7.6 billion naira ($21 million, 17.9 million euros) allegedly held in local bank accounts by Diezani Alison-Madueke, who was once one of Africa’s most prominent female politicians. Nigeria’s anti-graft Economic and Financial Crimes Commission (EFCC), which accuses Alison-Madueke of corruption, argued in court that she had illicitly laundered the funds with the help of top oil officials. Read Also Buhari happy…

The Rivers State Chapter of the All Progressives Congress (APC) has described Nyesom Wike as the worst Governor in the history of the State, even as it dismissed his excuse for poor performance as untenable. Governor Wike had recently blamed the current economic recession in the country for his administration’s failure to live up to expectation and INEC and Police for the misfortunes of PDP in Rivers State but Rivers APC said Monday in a statement signed by its State Chairman, Chief (Dr.) Davies Ibiamu Ikanya. “Wike blaming the Police and INEC for PDP’s current misfortune in Rivers State and…

Nigeria’s President Muhammadu Buhari on Monday said he was delighted that the Nigeria economy is improving. Buhari returned last week to Nigeria after three months in London, Britain on medical leave. Buhari made the comment after being briefed by the finance minister, Kemi Adeosun; Central Bank of Nigeria governor, Godwin Emefiele and minister of budget and national planning, Senator Udoma Udo Udoma. READ: Nigeria inflation rate drops 0.05% — NBS According to a statement by Femi Adesina, spokesperson to the President, “For almost two hours, President Muhammadu Buhari Monday received briefing from the Minister of Budget and National Planning, Senator…

The National Bureau of Statistics (NBS) says the inflation rate dropped from 16.1 per cent in June to 16.05 per cent in the month of July. The NBS disclosed this on Monday with the released the Consumer Price Index which measures inflation rate of the country. It said the index dropped marginally adding that this was sixth consecutive time that the index would be dropping since January this year. READ: Uber names Expedia boss Dara Khosrowshahi as CEO “The inflation report for July 2017 reveals that headline inflation has again reduced to 16.05 per cent (year-on-year) in July 2017, compared…

A ban on plastic bags came into force Monday in Kenya and those found in violation of the ban could be given a maximum fine of 40,000 dollars or risk imprisonment of up to four years. The East African nation joins more than 40 other countries that have banned, partly banned or taxed single use plastic bags, including China, France, Rwanda, and Italy. Many bags drift into the ocean, strangling turtles, suffocating seabirds and filling the stomachs of dolphins and whales with waste until they die of starvation. “If we continue like this, by 2050, we will have more plastic…

Liverpool have made a £55.5m bid to Monaco for Thomas Lemar, Sky Sports News understands. It is believed Monaco have yet to accept or reject the offer as they assess options in their squad. Arsenal had been in talks to sign the attacking midfielder all summer and are believed to have had a £30m offer rejected last month while Barcelona were also understood to be tracking the player. Read Also Ganduje donates bus to Kano Pillars para soccer team Monaco have maintained Lemar is not for sale, with the Ligue 1 champions having already sold a number of key players…

Paris Saint-Germain have reached an agreement for the loan of 18-year-old Monaco forward Kylian Mbappe with an option to buy for £166m. (L’Equipe – in French) The future of Crystal Palace manager Frank de Boer is in doubt after three defeats from the opening three games of the Premier League season. (Guardian) Liverpool have made an inquiry to sign 21-year-old Monaco midfielder Thomas Lemar for a club record fee of up £55m. (Daily Telegraph) Liverpool boss Jurgen Klopp has left open the possibility of Belgium striker Divock Origi, 22, going out on loan provided the club can bring in players…

Uber has chosen Expedia boss Dara Khosrowshahi to be its chief executive, ending months of speculation in the firm’s search for a new leader. The decision was made by Uber’s board late on Sunday, a source told the BBC, but the company has made no official announcement. Mr Khosrowshahi would replace Travis Kalanick, who resigned in June following pressure from shareholders. The firm is battling to repair its image after a series of scandals. Several big names – including Hewlett Packard boss Meg Whitman and General Electric chairman Jeff Immelt – had been touted for the role. READ: Kendrick Lamar…