Cabinet reshuffle and high-level board appointments keep Buhari busy…


Cabinet reshuffle and high-level board appointments keep Buhari busy…

Nigeria Monthly Briefing Summary

President Muhammadu Buhari (2015-present) reshuffles his cabinet, removing agriculture minister Mohammed Nanonoand power minister Saleh Mamman. Buhari appoints new heads of education, as well as board members for the newly created Nigerian National Petroleum Company Ltd (NNPC) and new petroleum regulators, Nigerian Upstream Regulatory Commission (NURC) and Nigerian Midstream and Downstream Petroleum Regulatory Authority (NPRA). Buhari delivers a letter to the National Assembly proposing amendments to the Petroleum Industry Act (PIA) 2021, passed on 16 August. Former United Kingdom (UK)-headquartered oil major BP Plc oil trader Jonathan Zarembok launches a case in the UK against BP, claiming that his employment was wrongfully terminated after he voiced concerns about the payment of bribes to NNPC officials.Indigenous People of Biafra (IPOB) leader Nnamdi Kanu files a case with the Abia State High Court accusing the Federal Republic of Nigeria and seven other respondents of human rights infringements.The Nigerian Communications Commission (NCC) issues a federal government directive implementing a telecommunications blackout in Zamfara, Katsina and Sokoto states.Nigeria issues a $4 billion Eurobond exceeding a target of $3 billion. The Central Bank of Nigeria (CBN) Monetary Policy Committee (MPC) maintains the benchmark rate at 11.5%.United States(US)-based investment bankJP Morgan forecasts 1.5% growth in Nigeria’s economy in 2021. The National Bureau of Statistics (NBS) estimates that 20% of workers in Nigeria have lost their jobs as a result of the Covid-19 pandemic. The presidential steering committee on Covid-19 revises the quarantine protocol for travellers arriving in Nigeria from 14 September.

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