Business
Mr. Eazi becomes coconut farmer in Ghana

Mr Eazi’s latest venture is closer to home – on a farm, but in Ghana.
The 28-year-old Afrobeat artist and entrepreneur plans to transform a Ghanaian coastal community of more than 60,000 people through coconut farming.
“There’s a cycle of poverty in Africa that keeps going from generation to generation and sometimes you wonder how you can break it,” Mr. Eazi, whose real name is Oluwatosin Ajibade, told the Thomson Reuters Foundation.
“Agriculture plays a very important role in solving a lot of problems that exist back home,” he said on the sidelines of a two-day United Nations conference in Rome that began on Tuesday.
The musician, whose videos regularly get millions of views on YouTube, has shown his commitment to Africa’s youth with his emPawa Africa incubator programme, which supports new artists with grants to make music videos and mentorship.
Unemployment is high across the continent, with 10 to 12 million people entering the workforce each year but just 3.1 million jobs created, according to the African Development Bank.
INSPIRED BY A WOMAN
Mr Eazi was inspired to take up farming after meeting a woman who told him how a machine that made coconut oil changed her life: freeing up her children to go to school, feeding the waste to her pigs and making trinkets out of bark to sell.
“That kind of woke me up,” he said, recalling the trip, which was part of his 2019 collaboration with the United Nations International Fund for Agricultural Development to encourage young Africans to take up farming.
“What really struck me was not how her kids go to school … how many businesses actually have 360 (degrees) value chain? For me, that was the kicker,” he said, snapping his fingers for emphasis.
Before then, Mr Eazi said he was “ignorant” about farming.
“My closest to knowing anything about agriculture was when Mum goes to the market and say the price of tomatoes or rice has increased,” he said, shaking his head.
Now describing himself as a farmer, Mr Eazi has become a staunch advocate of agriculture as meaningful employment for youth in Africa, which has the world’s youngest population with more than 400 million people between 15 and 35 years.
With support from a local lawmaker in Nzema East, Mr Eazi has hired a manager to kick off the project, which will train youth in the area on coconut farming and coconut oil production, before moving into other agriculture schemes.
“It’s a beautiful community. There’s a lot of land for farming. There’s also the ocean for fishing. There’s gold. The next constituency has some oil exploration. On paper it’s meant to be a rich community but it’s very poor,” he said.
After rapping at California’s Coachella festival and on Beyonce’s Grammy-nominated “The Lion King: The Gift”, Nigerian star Mr Eazi’s latest venture is closer to home – on a farm, but in Ghana.
“The goal is to provide jobs, profits and training to the constituents … Before the end of (the first quarter) this year, we’re actually gonna have the first database of farmers in the community. This data would inform business decisions.”
His mother often says he takes on too much.
“I said, ‘Mum, when you look back, you see how the dots connect, and you have one life to lead, you might as well (do it)’,” said Mr Eazi, before quoting Jay-Z’s “Family Feud” track.
“(Jay-Z) said, ‘A man that don’t take care his family can’t be rich’. It doesn’t just mean your immediate family … he actually means your community.”
*Reported by Thin Lei Win @thinink for Thomson Reuters Foundation
Business
All you need to know about bitcoin

What is Bitcoin and Who created Bitcoin ?
Bitcoin is a cryptocurrency, a form of electronic cash. According to Wikipedia, it was invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto and started in 2009 when its implementation was released as open-source software. It is a decentralized digital currency without a central bank or single administrator that can be sent from user to user on the peer-to-peer bitcoin blockchain network without the need for intermediaries. It is powered through blockchain technology.
Is Bitcoin real money?
Bitcoin is not a money that the government declared to be a legal tender i.e. it is not fiat money and does not have ties to any government. It is a cryptocurrency and can be used as payment or for investing purposes. Many mainstream companies and even some governments accept Bitcoin as payment.
To buy bitcoin in Nigeria at an affordable rate,
Visit: www.cryptonaira.ng
Business
NNPC Raises Petrol Depot Price, Marketers To Sell At ₦168 – ₦170 Per Litre

The Petroleum Products Marketing Company, a subsidiary of the Nigerian National Petroleum Corporation, has increased the ex-depot price of Premium Motor Spirit, also known as petrol, to N155.17 per litre from N147.67 per litre Punch reports,
The PPMC disclosed this in an internal memo with reference number PPMC/C/MK/003, dated November 11, 2020, and signed by Tijjani Ali.
Read Also: NNPC’s staff receive N357bn as salary in a year
The memo, a copy of which was seen by our correspondent, said the new ex-depot price would take effect from Friday.
The ex-depot price is the price at which the product is sold by the PPMC to marketers at the depots.
In its PMS price proposal for November, the PPMC put the landing cost of petrol at N128.89 per litre, up from N119.77 per litre in September/October.
It said the estimated minimum pump price of the product would increase to N161.36 per litre from N153.86 per litre.
The National Operation Controller, Independent Petroleum Marketers Association of Nigeria, Mr Mike Osatuyi, in a telephone interview with our correspondent, said the over N7 increase in ex-depot price would translate into an increase in pump prices.
“Crude oil price is going up,” he said, noting that the Federal Government has fully deregulated petrol prices.
Following the deregulation of petrol prices in September, marketers across the country adjusted their pump prices to between N158 and N162 per litre to reflect the increase in global oil prices.
Petrol price band had also risen from N121.50–N123.50 per litre in June to N140.80-N143.80 in July and N148-N150 in August.
The Minister of State for Petroleum Resources, Timipre Sylva, said in September that the government had stepped back in fixing the price of petrol, adding that market forces and crude oil price would continue to determine the cost of the product.
Business
Dangote Reacts To Criticisms On Border Closure Exemption

The Dangote group has reacted to a recent report published on Bloomberg that their cement company was solely exempted from the Land Border Closure by the Nigerian government.
The report revealed that Dangote Cement was still able to export products despite the land border closure put in place by the Federal Government thus gaining an ‘unfair’ advantage.
Read Also: Meet Mariya Dangote: Dangote’s Daughter
Responding to the development in a statement sent to POLITICS NIGERIA, signed by Timilehin Oyedare, the cement giant disclosed that the report was ‘misleading’.
“Contrary to reports by Bloomberg that Dangote Cement was granted sole approval to export cement through the land borders, information has emerged that other companies also got approval to export through the land borders. Nigerian Customs Service has reportedly revealed that a gas company have also received presidential approval to move goods across the land borders.”
“Joseph Attah, the spokesperson for Nigerian Customs Service, was said to have clarified on phone from Lagos.”
“Dangote Cement and other companies in July, 2020 got partial special dispensation to export their products with certain sequence of crossing at Ilela land border in Sokoto State and Ohumbe land border in Ogun State, the company clarified.”
The Group Chief, Branding and Communications, Dangote Group, Mr. Anthony Chiejina, said the report is misleading and mischievous because it focused only on Dangote Cement as the sole beneficiary of the partial special dispensation.
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