Press News: 6 things you need to know this Tuesday morning

Good morning! Here is today’s summary from Nigeria and Foreign breaking News.

1. Illegal gold mining rips Nigeria off forex revenue

Nigeria, given its current economic challenges can harness the potential in its solid minerals resources to salvage the country from impending economic disaster.

Data from the Ministry of Solid Minerals and Development show that there are gold deposits in Abuja, Abia, Bauchi, Cross River, Edo, Niger, Sokoto, Kebbi, Oyo, Kogi, Zamfara, Osun and Kaduna states.

Illegal gold mining has been a culture and has continued to thrive despite government’s threat to prosecute culprits. Unofficial figures from various open source websites such as the U.S. Geological Survey estimate that some 18,000kg of gold valued at nearly $1billion was smuggled out of Nigeria between 2018 and 2019.

2. INEC: Amid plot to debar Obaseki, court restrains APC

There are strong indications that Governor Godwin Obaseki of Edo State might face another hurdle in the June 22 governorship primary of the All Progressives Congress (APC).

3. African air travel market plunges by 98.7 per cent

Airlines in Nigeria and other African countries hit the rock bottom in the month of April, with passenger traffic dropping by a whopping 98.7 per cent.

A regional travel estimate recently released by the International Air Transport Association (IATA), showed that the dip was nearly twice as bad as the 49.8 per cent demand drop in March, and a record in the history of modern air travel. Capacity contracted by 87.7 per cent, and load factor dived 65.3 percentage points to just 7.7 per cent of seats filled, lowest among regions.

4. Producers hopeful of $50 oil price, business sustainability from cuts

In the course of global lockdown, the ensuing energy imbalance affected oil producers and prices such that business sustainability was threatened and capacity to service over N3.4 trillion loans weakened.

5.Donald Trump: Defacement of Mahatma Gandhi’s statue was a ‘disgrace

WASHINGTON: The defacement of Mahatma Gandhi’s statue by unknown miscreants was a “disgrace”, US President Donald Trump has said, days after it was vandalised with graffiti and spray painting during the nationwide protests againts the custodial killing of African-American George Floyd.

The statue, which is across the road from the Indian Embassy, was vandalised on the intervening night of June 2 and 3, prompting the Indian embassy to register a complaint with the local law enforcement agencies.

6. James Rodriguez to Man Utd?

Manchester United have been sounded out over a cut-price deal for long-term target James Rodriguez, according to The Sun.

The Colombia international is back at Real Madrid after a two-year loan spell at Bayern Munich, but is struggling for game time as he enters the final year of his contract.

The newspaper reports that Man Utd have been long-time admirers of Rodirguez and Everton are also said to be interested.

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