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USA 2020 : Biden’s victory will attract $700b to Nigeria, other emerging markets, say experts

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A win for former United States (U.S.) Vice President Democratic Party presidential candidate Joe Biden will attract $700 billion investments to Nigeria and other emerging markets, Renaissance Capital (RenCap) analysts have predicted.

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.

Robertson said this becomes a self-reinforcing cycle of emerging market forex appreciation giving good returns to dollar investors, which in turn attracts more money to emerging market and in turn pushes emerging market forex stronger

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.

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2027 Election: Preserve Your Reputation as a Statesman — Oshiomhole Advises Jonathan, Says Only Your Enemies Want You to Contest

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Former Edo State governor, Adams Oshiomhole, has advised former President Goodluck Jonathan against yielding to pressure to contest the 2027 presidential election, warning that doing so would damage his legacy.

Speaking on Channels Television’s Sunday Politics, Oshiomhole said that only those who do not wish Jonathan well would encourage him to return to the political arena, adding that the All Progressives Congress (APC) would easily defeat him if he chose to run.

“How can Jonathan be a threat? We defeated him before when PDP was truly PDP,” Oshiomhole said.

“If a man had PDP at its best, at its peak, and he was defeated, I think only his enemy will push him to go into election.”

The former APC national chairman advised Jonathan to preserve his reputation as a statesman and avoid a return that could erode the respect he earned after conceding defeat in 2015.

“If I were able to advise him, I will say, Sir, maintain this status. You governed for eight years, you don’t have to govern for nine,” Oshiomhole said.

According to Oshiomhole, Jonathan “has managed to demonstrate that out of power, you can be relevant and at peace.”

He praised Jonathan’s historic concession speech in 2015, describing it as one of his most admirable legacies.

“Looking at how he ascended to that office, if I were him, I will spend the end of my life trying to find relevance, which he has already found, and speaking because that conceding defeat, and that is memorable quote about my blood, sorry, blood of a Nigerian is not worth my ambition, he should just allow those legacies to be,” he said.

Oshiomhole further argued that Jonathan’s political base in the South-South had weakened since his departure from office, making a comeback unrealistic.

“We will defeat him flatly if he comes out because now the South-South is no longer PDP. So where is he going to start from?” he asked.

Jonathan, who was the candidate of the Peoples Democratic Party (PDP), lost the 2015 presidential election to the late Muhammadu Buhari of the All Progressives Congress (APC).

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Fubara sacks appointees affected by Supreme Court’s judgement, Says Nelson Chukwudi

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Rivers Governor Siminalayi Fubara has sacked all commissioners and other appointees administration affected by the Supreme Court’s judgement.

The Governor announced the decision during a valedictory session he organised for his cabinet to mark the 65th Independence Anniversary on Wednesday.

A statement by his Chief Press Secretary (CPS), Nelson Chukwudi, confirmed that during the event, which held in Government House, on Wednesday, Fubara relieved all the commissioners and other public officers affected by the Supreme Court’s judgement of their appointments.

The Governor called on all stakeholders to work with President Bola Tinubu in building a peaceful, secured and prosperous country.

He also thanked members of his cabinet for their services and contributions to the development of the state in the last two years..

“He called on all Nigerians to work together with Mr President to build a peaceful, secure and prosperous country and a brighter future for all,” the statement said.

The Governor also reiterated commitment to serve the State with renewed vigor and thanked all citizens for their support, and wished all Nigerians a happy Independence anniversary.

The Court, while recognising the 27-member Assembly led by Speaker Martins Amaewhule as the only authentic legislative arm of government, nullified all legislative decisions made in favour of Fubara during the crisis including the passage of budgets; screening and confirmations of commissioners and other public officers holders.

It was gathered that over 19 of Fubara’s commissioners, whose appointments were screened and confirmed by Oko-Jumbo were affected by the Supreme Court’s judgement.

The judgement rendered the appointment of Iboroma Dagogo, SAN, who was screened and confirmed as the Attorney-General and Commissioner for Justice invalid.

Other commissioners affected by the judgement are Charles O. Beke, Collins Onunwo, Solomon Eke, Peter Medee, Elloka Tasie-Amadi, Basoene Joshua Benibo, Tambari Sydney Gbara and Ovy Orluideye Chinendum Chukwuma.

Also, Illamu Arugu, Rowland Obed Whyte, Samuel Anya, Samuel Eyiba, Austin Emeka Nnadozie, Israel Ngbuelu, Evans Bipi, Otamiri Ngubo, Benibo Alabraba and Emmanuel Frank-Fubara, suffered a similar fate.

It was also gathered that the Governor could consider the inclusion of some of them in the list of fresh nominees he was preparing to send to the House of Assembly.

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Publisher of August 24news, Ajagbe Present GAC FRAME to Lagos Assembly Speaker, Obasa

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Publisher of August24news.com, Ajagbe Adeyemi Teslim and Speaker of the Lagos State House of Assembly Rt. Hon. (Dr) Mudashiru Ajayi Obasa.

In a bid to contribute to the stability, unwaving and sterling political Governance in Lagos State since the Era of President Bola Ahmed Tinubu (GCFR) as the then Governor of the State, Renowned Political Journalist and Publisher of August24news.com, Ajagbe Adeyemi Teslim has today presented a GAC Frame to the Speaker of the Lagos State House of Assembly Rt. Hon. (Dr). Mudashiru Ajayi Obasa

GAC, which means Governance Advisory Council is known to be the highest decision making body in Lagos Politics.

The Presentation was done today at the Office of the Rt Honorable Speaker in Ikeja, Lagos.

Our reporter gathered that the frame which is a 24 inches by 34 inches frame size displayed the names, photographs, local government and senatorial district of all the 35 distinguished members of the Lagos State Governance Advisory Council (GAC).

The Names are President Bola Ahmed Tinubu (GCFR) Ikeja Local Government (LAGOS WEST), Sen. Oluremi Tinubu, Eti-Osa Local Government (LAGOS CENTRAL) Gov. BABAJIDE Olusola Sanwo-Olu, Lagos Island Local Government (LAGOS CENTRAL), Gov. Babatunde Raji Fashola, Surulere Local Government (LAGOS CENTRAL), Gov. Dapo Akinwunmi Ambode, Epe Local Government (LAGOS EAST), Prince Tajudeen Oluyole Olusi (OON) Lagos Island Local Government (LAGOS CENTRAL) and Chairman of the GAC, Alhaji Bushura Alebiosu, Kosofe Local Government, (LAGOS EAST), Prince Rabiu Adio Oluwa, Ajeromi Local Government, (LAGOS WEST), RT. Hon. Femi Gbajabiamila, Surulere Local Government. (LAGOS CENTRAL), Alhaji Shakira Akanbi Seriki, Epe Local Government (LAGOS EAST), CHIEF M.A Taiwo, Oshodi/Isolo Local Government (LAGOS WEST), Sen. Idiat Oluranti Adebule, Ojo Local Government. (LAGOS WEST), Hon. Wale Edun, Eti-Osa Local Government, (LAGOS CENTRAL), RT. Hon. Mudashiru Ajayi Obasa, Agege Local Government (LAGOS WEST), Sen. Anthony Adefuye, Somolu Local Government (LAGOS EAST), Alhaji Mutiu Are, Lagos Island Local Government (LAGOS CENTRAL) and Secretary of the GAC, DR. Qadri Obafemi Hamzat, Ifako/Ijaye Local Government (LAGOS WEST), RT. Hon. Sabit Adeyemi Ikuforiji, Epe Local Government (LAGOS EAST), Sen. Ganiu Olanrewaju Solomon, Mushin Local Government (LAGOS WEST), Sen. Adeseye Ogunleye, Kosofe Local Government (LAGOS EAST), CHIEF Abiodun Ogunleye, Ikorodu Local Government (LAGOS EAST), Otunba Henry Oladele Ajomale Oshodi/Isolo Local Government, (LAGOS WEST), Dr. Abayomi Finnih, Ikeja Local Government. (LAGOS WEST), Omooba Murphy Adetoro, Eti-Osa Local Government (LAGOS CENTRAL), Sen. Mikailu Adetokunboh Abiru, Ikorodu Local Government (LAGOS EAST), Hon. Pastor Cornelius Ojelabi, Ojo Local Government (LAGOS WEST), Alhaji Tunde Balogun, Apapa Local Government (LAGOS CENTRAL), Cardinal James Omolaja Odunbaku, Ikeja Local Government (LAGOS WEST), Chief Mrs Adejoke Orelope Adefuluire, Alimosho Local Government, (LAGOS WEST), Asiwaju Olorunfunmi Bashorun, Ikorodu Local Government (LAGOS EAST)

Others are; Omooba Olumuyiwa Sosanya, Kosofe Local Government (LAGOS EAST), Sen. Musiliu Olatunde Obanikoro, Lagos Island Local Government (LAGOS CENTRAL), Princess Sarah Adebisi Sosan, Ojo Local Government (LAGOS WEST), Chief Femi Pedro, Eti-Osa Local Government (LAGOS CENTRAL) and Hon. Mrs. Jumoke Okoya-Thomas, Lagos Island Local Government (LAGOS CENTRAL) respectively.

The frame also has a tribute segment where all the late eight (8) members of the council where fully recognized.

They are Late Hon. Chief Mrs Kemi Nelson, Hon. RF Balogun, Ambassador Rasak Demola Seriki, Oba Olatunji Hamzat, Alhaji Safiriyulahi Sumola, Chief Lanre Rasak (KLM), Proff Tunde Samuel and Chief Sunny Akinsanya Ajose of blessed memory.

The GAC remain one of the deep thoughtful thoughts, several positive political theories and landmark legacies of President Bola Ahmed Tinubu (GCFR) while serving as Governor of Lagos State as part of its efforts to “REBRAND” Governance which has now become a MODEL and TEMPLATE of good Governance in our dear state, Lagos, Hence on his Mandate, we shall continue to STAND.

According to the Publisher of August24news.com Mr. Ajagbe Adeyemi Teslim during the presentation said The Idea of putting the 35 Wise Men and women of the GAC in a Large frame is to showcase their UNITY as well as a way of Promoting their well-deserved Honour. This will no doubt, encourage other political leaders in our state to be more dedicated in their services to our dear state in particular, the country at large and humanity as whole.

Speaking further, The Frame is a great research work carried out by our Editorial Team here in August24news.com, we did this to encourage our leaders in Reshaping, Promoting and Rebranding Our Lagos Politics.

“After today’s presentation to the Speaker, we will continue to roll out the presentation to the office of the Executive Governor of Lagos State, Mr. BABAJIDE OLUSHOLA SANWOLU and his Deputy, Dr. OBAFEMI KADRI HAMZAT, All Honourable Commissioners in the state, Federal and State Lawmakers, All the 57 Council Chairmen, Some Key Dignitaries and other Party Loyalist in the state.

Receiving the Frame in a joyfully mood, Lagos Assembly Speaker, Rt. Hon. (Dr) Mudashiru Ajayi Obasa thank the team for the presentation while commending August24news.com Editorial team for the great research job particularly the Publisher, Mr. AJAGBE ADEYEMI TESLIM for putting up such creativity.

Obasa said the frame will be well kept in a reserved place in his office and archives for coming generation to know their legends and political leader as he call for a minute silent to honour the late eight members of the Council.

Commenting on the GAC FRAME Presentation is a member of the Governance Advisory Council (GAC) who also doubles as the GAC secretary, Alhaji Mutiu Are said the GAC is one of the beauty of Lagos Politics.

Also Commenting, is a Political Analyst Commentator and Publisher of Upshot Media, Mr. Mojeed Jamiu commended Ajagbe for the initiative on the photo frame adding that GAC members deserves even greater recognition, especially given their immense contribution to good governance in Lagos State.

Publisher of August24news.com, Ajagbe Adeyemi Teslim and Speaker of the Lagos State House of Assembly Rt. Hon. (Dr) Mudashiru Ajayi Obasa.

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