politics
USA 2020 : Biden’s victory will attract $700b to Nigeria, other emerging markets, say experts
RenCap Chief Economist Charles Robertson said a Biden victory will, in the long run, shift trillions of dollars to Nigeria and other emerging markets.
In a report to investors titled: “Biden’s victory, trillions into EM and lockdown” released on Thursday, Robertson explained that if that happens, many people will wonder why this election race was tight.
The expert at the global investment and research firm said he expects Biden to clinch victory this evening (London time) with Nevada due to give him six Electoral College votes after 5pm London time.
On the outlook for Nigeria and other emerging markets, he argued that U.S. President, Donald Trump’s possible defeat is good for emerging markets. He said global investors will start re-allocating cash to emerging markets in a big way.
He disclosed that already, Blackrock’s head of fixed income, who is responsible for $2.6 trillion of that firm’s $7.8 trillion in assets (Africa’s Gross Domestic Product is $2 trillion to put this into perspective), said they will invest more in merging market.
“The stock of Africa’s Eurobonds only topped $100 billion in 2018, and even if it is only Blackrock’s actively managed part of the business more like $2 trillion in all asset classes (perhaps $700 billion in fixed income), that starts to shift to Emerging Markets this could be very helpful.
“Our base case is that Foreign Direct Investment will stop being a net positive for the US due to Trump’s defeat, and portfolio flows will also go to EM, and together, these will drive the $ gradually weaker in coming years,” he said.
He predicted: “Georgia is also looking like another Democrat victory (Biden is 23,000 votes behind with two per cent of the vote, about 100,000, still to be done and they have been flowing his way).
“This gives Biden 270 electoral college votes with Nevada, which is what he needs to win and 286 if he does get Georgia. With Pennsylvania votes counted yesterday – and Democrats expecting a big win from remaining mail-in votes, Biden might well end up with 309 Electoral College votes to 229 for Trump (who is likely to win North Carolina).”
Robertson explained that if that happens, many people will wonder why this election race was tight.
He explained that talk of recounts in Wisconsin have been dismissed by a former Republican governor Scott Walker as having no chance of changing the results – previous recounts have changed voting tallies by a max 300 votes but Biden is 20,000 ahead.
Robertson said that even if challenges in any states get to Supreme Court, the suspicion was that Trump will find that his appointees do not owe him a personal favour to come down on this side.
“They will instead do what is institutionally correct. It would be surprising if there were so many successful challenges that Trump could keep the presidency. So, our base conclusion from May that Trump would lose because that’s what always happens to incumbents in a recession year, will come good,” he said.
politics
Breaking : INEC Confirms Oyebanji’s Re-election in Ekiti, First Consecutive Governorship Victory Since 1999
Governor Biodun Oyebanji casting his vote at his Okeelele Unit 003
The Independent National Electoral Commission has declared the All Progressives Congress candidate, Governor Biodun Oyebanji, the winner of the Ekiti State governorship election held on Saturday.
The governor was re-elected after polling 319,224 votes over his closest rivals in the opposition Peoples Democratic Party, Olumayokun Oluyede and African Democratic Congress, Dare Bejide, across the state’s 16 local governments.
The Returning Officer for the election, Prof Adenike Oladiji, who is the Vice Chancellor of Federal University of Technology, Akure, announced the results in the early hours of Sunday at the INEC’s headquarters on Iyin Road in Ado-Ekiti, the state capital.
Oladiji said, “Therefore, I, Adenike, am the returning officer for the 2026 Ekiti governorship election…Oyebanji Abiodun Abayomi, having satisfied the requirements of the law, is hereby declared the winner and stands re-elected.”
While the APC polled 319,224 votes, the PDP candidate polled 40, 533 votes, and the ADC candidate amassed 12,872 votes.
There are 988,251 registered voters, and 384,940 are accredited.
Out of the 382,109 votes cast, the total valid votes in the election were 375, 777.
According to INEC result, the PDP candidate, who hails from Ikere Ekiti, lost in his Ikere Local Government area.
While the APC and its candidate, Oyebanji, scored 8,742 votes, the PDP, which came second in the LGA, garnered 2,051 votes.
Below are the full results of the governorship election as collated at the State Collation Centre from the 16 LGAs on Sunday.
Efon Local Govt
Collation officer: Prof. Joseph Ojo
ADC – 201
APC – 8742
PDP – 2051
Ijero LG
Collation Officer: Prof. Olaniran Akanni
ADC – 2026
APC – 25506
PDP – 2479
Ikere LG
Collation Officer: Prof. Kehinde Jayeoba
ADC – 245
APC – 11116
PDP – 9872
Emure LG
Collation Officer: Prof Emmanuel Oluwafemi
ADC -732
APC – 14325
PDP – 851
Ekiti South West
Collation Officer: Prof. Kola Oladunmoye
ADC – 1076
APC – 14705
PDP – 1800
Ido/Osi
Collation Officer: Prof. Otalobi Akintunde
ADC – 561
APC – 17901
PDP – 1449
Ekiti West
Collation Officer: Prof Bolaji Stephen
ADC – 674
APC – 28258
PDP – 3644
Ado LG
Collation Officer: Prof. Toye Fasinmirin
ADC – 1054
APC – 38026
PDP – 3817
Ilejemeje LG
Collation Officer: Prof. Kehinde Mogaji
ADC – 579
APC – 8984
PDP – 1243
Ise/Orun LG
Collation Officer: Dr John Isa
ADC – 365
APC – 12907
PDP – 1627
Oye LG
Collation Officer: Prof. Jide Popoola
ADC – 998
APC – 18975
PDP – 2891
Moba LG
Collation Officer: Prof. Suleiman Adegboyega
ADC – 994
APC – 20500
PDP – 1572
Ayekire/Gbonyin LG
Collation Officer: Prof. Oso Bamidele
ADC – 314
APC – 17133
PDP – 1563
Ikole LG
Collation Officer: Prof. Sadiat Adifala
ADC – 812
APC – 26508
PDP – 750
Irepodun/Ifelodun LGA
Collation Officer: Prof. Michael Adeyemi
ADC – 511
APC – 29278
PDP – 2119
Ekiti East LGA
Collation Officer: Prof. Olabode Olatunbosun
ADC – 1730
APC – 26359
PDP – 2795
politics
BREAKING: Rivers State Assembly Begins Impeachment Process Against Governor Fubara and Deputy
The Rivers House of Assembly has commenced impeachment proceedings against Governor Siminalayi Fubara and his deputy, Ngozi Oduh.
The move followed a plenary session on Thursday presided over by Speaker Martins Amaewhule.
During the session, the Majority Leader of the House, Major Jack, formally read the notice of allegations and claims of gross misconducts levelled against Governor Fubara.
He disclosed that the notice was endorsed by 26 members of the Assembly, who alleged that the Governor had acted in violation of provisions of the Nigerian Constitution.
Speaker Amaewhule stated that the notice of impeachment would be served on Governor Fubara within the next seven days in line with constitutional procedures.
The Deputy Majority Leader, Linda Stewart, read out a separate notice of allegations and gross misconduct against the Deputy Governor, Oduh, marking the formal commencement of impeachment proceedings against her as well.
politics
Breaking : Accord Party Faces Internal Crisis in Osun as Bamigbola Emerges for 2026 After Adeleke
A faction of the Accord Party has produced Clement Bamigbola as its governorship candidate for the 2026 Osun State election, just four days after the emergence of Governor Ademola Adeleke as the party’s flagbearer.
Newsthumb recalls that Adeleke had emerged on Wednesday as the party’s candidate, being the sole aspirant in the exercise.
However, a faction of the party rejected his emergence, insisting that Barrister Maxwell Ngbudem is not the legally recognised national chairman of the Accord Party.
In a fresh development on Sunday, about 300 delegates of the Accord Party from across Osun State elected Bamigbola as the factional candidate during a primary held at Regina Suite, Osogbo.
Bamigbola emerged through a voice vote conducted by the delegates, after which the Chairman of the Primary Committee, Hon. Olufemi Ogundare, declared him the party’s candidate for the 2026 Osun State governorship election.
Following his declaration, Ogundare and other party leaders formally presented the party’s flag to Bamigbola ahead of the 2026 contest.
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