Business
FG In Talks With Australia For Training Nigerian Professionals In Solid Minerals
The Minister of Solid Minerals, Mr. Dele Alake has proposed a programme enabling Nigerian mining professionals to study modern mining technology and practices in Western Australia with the government’s support.
He made the request to Hon. Bill Johnston, the Minister for Mines and Petroleum, Energy, Corrective Services and Industrial Relations of the government of Western Australia, during a courtesy visit
Alake, who led the Nigerian delegation to the 21st Africa Down Under Mining Conference held in Perth, in Perth, Australia, acknowledged the progress achieved by the government of Australia in mineral development.
Alake said that Australia had acquired a lot of knowledge and skills in developing its modern mining industry, adding that Nigerians would benefit from training, study trips and exchanges of mineral professionals in its current effort to transform the sector.
Alake said the government had launched a roadmap to attract foreign direct investment by investing in big data on minerals and the quantum of their deposits, forming a solid minerals corporation and joint venture agreements with multinationals in mining to enable the sector to compete globally.
He informed the minister that Nigeria has vast deposits of precious minerals, including lithium, gold, coal, lead, zinc, baryte and iron ore.
In response, Hon.Johnston appreciated the courtesy visit of the Minister of Solid Minerals and his delegation.
He said that the government of Western Australia would support the transfer of knowledge and skills to mining professionals from Nigeria and sponsor mining experts to visit Nigeria to impart knowledge.
He urged Alake to make a formal request as soon as possible so both could work together to realise the goal.
He promised to mobilise the public and private sectors to support the initiative, as many companies are willing to explore opportunities for developing the mining sector in Africa.
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Business
WEF could appoint Lagarde as its next chair, sources say
The WEF’s Board of Trustees, which includes Lagarde herself, was due to meet on November 2 and could elect her as its next chair, said the people close to the organisation, who spoke on condition of anonymity due to the sensitivity of the matter.
•European Central Bank President Christine Lagarde
The World Economic Forum could appoint Christine Lagarde as its next chair as soon as next month, four people close to the organisation told Reuters, meaning she would step down early as European Central Bank chief and trigger a wider reshuffle at the top of the ECB.Lagarde’s ECB term is scheduled to end in October 2027.
Leaving early would give European Union leaders a chance to pick a new ECB President before France’s spring presidential election, which opinion polls suggest the far-right could win, and could pave the way for a deal involving two other senior ECB roles.
The WEF’s Board of Trustees, which includes Lagarde herself, was due to meet on November 2 and could elect her as its next chair, said the people close to the organisation, who spoke on condition of anonymity due to the sensitivity of the matter.
No final decision has been taken yet, they said.
A spokesperson for the WEF said the forum could not confirm when the next full Board of Trustees meeting would take place, but that the aim was to hold one before the end of the year.
Business
Germany plans tax on sugary drinks
The tax is expected to generate additional revenue for the federal government of €690 million in 2027 and €925 million in 2028.
The German cabinet has approved draft legislation to tax sugary drinks in Europe’s biggest economy.
If passed by the German Bundestag, the tax will take effect on 1 July 2027.
The coalition aims to raise revenue for the federal budget while encouraging manufacturers to reduce sugar content and offer healthier products.
The levy is intended to ease pressure on the healthcare system, which faces costs of more than €2 billion every year linked to the high consumption of sugary drinks, which contributes to obesity, diabetes and tooth decay.
According to the federal government, Berlin is using the tax to implement “what associations from the fields of health, science, child protection, and consumer protection have long been demanding.”
The tax is expected to generate additional revenue for the federal government of €690 million in 2027 and €925 million in 2028.
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