Fuel Price Hike:  Car Owners in Kano Now Use Bicycles, Electric Bikes

Due to high cost of petroleum which jumped to N1, 150, 00 in Kano state, some car owners have abandoned their vehicles and resort to trekking, while others use bicycles, electric bikes and commercial tricycles for mobility. It was observed that the number of pedestrians, bicycle riders and electric bike users have increase with fewer cars on the road. One of the pedestrians, Sani Isa, said he resorted to the use of a bicycle because...

Okonjo-Iweala Emerges Sole Candidate for WTO Second Term

Dr Ngozi Okonjo-Iweala, the Director-General of the World Trade Organisation, WTO, has been confirmed as the sole candidate for a second four-year term, with overwhelming support from member states. This development follows the African Group’s proposal for Okonjo-Iweala’s reappointment, backed by 58 countries. Okonjo-Iweala, who made history as the first woman and African to lead the global trade body in 2021, is set to conclude her first term on 31 August 2025. The WTO formally...

Hon. Chidi Ibemeka Champions Skill Acquisition in Njikoka I Constituency

The Anambra State House of Assembly member representing Njikoka I constituency, Hon. Chidi Ibemeka, has commenced up skilling programme to train and equip his constituents with all the necessary tools that would enable them to thrive in the marketplace. The programme which commenced in Enugwu-Ukwu a few days ago, has St. Anthony’s Catholic Church Hall Enugwu-Ukwu, as the venue of the training. However, this training is expected to be extended throughout the Njikoka I State...

Our Compliance with the New Minimum Wage is Out of Conviction – Akai Egwuonwu

Chief Akai Egwuonwu, also known as “Anambra Rice,” the Chief Executive Officer of Stine Industries; a reputable Nigerian industry with an interest in agriculture, food production, retailing, shipping, and oil and gas, has said that his company’s compliance with the new minimum wage of N70 thousand Naira is borne out of conviction. This, he disclosed during a recent interview session with the West African Pilot News, in his office. According to Chief Akai Egwuonwu who...

CBN, IFC Sign Agreement to Expand Local Currency Financing for Nigerian Businesses

The Central Bank of Nigeria, CBN, has signed an agreement with the International Finance Corporation, IFC, to expand local currency financing and mitigate foreign exchange risks for Nigerian businesses. The agreement, announced in a joint statement by the CBN and the IFC on Monday, aims to unlock over $1 billion in investments across key sectors of the Nigerian economy. According to the statement, the partnership will focus on sectors such as agriculture, infrastructure, housing, energy,...

Central Bank Says No Expiration Date for Old Naira Notes

The Central Bank of Nigeria, CBN)l, has dismissed reports suggesting that the old naira notes will cease to be legal tender by 31 December 2024. In a statement issued on Thursday via its official social media accounts, the CBN’s acting Director of Corporate Communications, Sidi Ali Hakama, reaffirmed that both the old and redesigned N200, N500, and N1,000 notes will remain legal tender indefinitely as mandated by the Supreme Court on 29 November 2023. The...

Nigeria Needs Consistent Policy To Attract FDIs – JP Morgan CEO

The Chairman and Chief Executive Officer of JP Morgan, Mr. Jamie Dimon, has counseled Nigeria and other countries, seeking Foreign Direct Investments (FDIs) to ensure consistency in their regulatory framework and policies. Dimon who stated this on Wednesday at the 30th Nigerian Economic Summit (NES#30) in Abuja, noted that to attract investments requires consistent laws, regulations, rules, legislation, and legal environments, to woo foreign investors. Dimon stated that when these are in place, investors would...

FIRS Says Tax Reforms Will Reduce Multiplicity Of Taxes, Improve Efficiency

Zack Adedeji, chairman of the Federal Inland Revenue Service (FIRS) has said that the four tax reform bills recently presented to the National Assembly are aimed at harmonising the country’s tax laws without introducing new taxes or increasing existing rates. While speaking at a meeting with the House Committee on Finance on Wednesday ahead of the second reading of the bills, Adedeji emphasized that the bills are not intended to merge any government agencies or...

World Bank Grants Nigeria $500 Million to Boost Post-COVID Recovery

…Vice President Gill Urges Government to Sustain Reforms Despite Hardships The World Bank has announced a $500 million grant to support Nigeria’s recovery from the economic impacts of the COVID-19 pandemic through the Nigeria Community Action for Resilience and Economic Stimulus, NG-CARES, programme. Launched in 2021, NG-CARES was designed to assist vulnerable households and micro-small enterprises affected by the pandemic. Dr Lire Ersado, the World Bank Task Team Leader for NG-CARES, disclosed the new funding...

NYSC Doctors To Receive N133, 400 As State Allowance In Ondo State

Governor of Ondo State, Lucky Aiyedatiwa, has approved the payment of N133, 400 as a state allowance to corps doctors while other corps members will receive N10, 000. According to the statement on the official social media page of NYSC Ondo,  Gov Aiyedatiwa, had during the Swearing in Ceremony for the 2024 Batch ‘B’ (Stream 1) corps members deployed to the Sunshine State gave the order that corps members serving in public institutions be paid...

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