Nasarawa State Government Embarks On Construction Of Neighborhood Market At N349.7million

BusinessMarketsNasarawa State Government Embarks On Construction Of Neighborhood Market At N349.7million

Hassan Umar Shallpella (Regional Correspondent)May 23, 2021

The Nasarawa State will construct a neighborhood market in the Akwanga Local Government Area at the cost of N349.7million. Flagging off the construction of the market in Akwanga on Saturday, the governor, Abdullahi Sule said it would boost the socio-economic activities and enhance the standard of living of the people of the area and the state in general. He said the construction of the market was part of activities to mark his two years in...

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No Plan To Increase Price Of Petrol-Minister

BusinessOil & GasNo Plan To Increase Price Of Petrol-Minister

Hassan Umar Shallpella (Regional Correspondent)May 22, 2021

ABUJA — The Minister of State for Petroleum Resources, Chief Timipre Sylva, says the Federal Government has no plans to increase the pump price of Premium Motor Spirit (PMS) also known as petrol in June. In a statement in Abuja on Friday, the Minister was reacting to recent reports regarding the resolution of the Nigeria Governors Forum to increase the pump price of petrol. “Once again, it has become necessary to assure Nigerians that despite...

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The Nigeria Inflation Rate Drops for the First Time in 20 Months

BusinessNewsThe Nigeria Inflation Rate Drops for the First Time in 20 Months

Bada Yusuf Amoo (Correspondent)May 18, 2021

The Nigeria inflation rate has dropped for the first time in 20 consecutive months; it recorded 18.12 percent decrease in April year-on-year from 18.17 percent reported in March. The National Bureau of Statistics (NBS) disclosed this in the Consumer Price Index (CPI) April 2021 report published on Monday. Latest data by the agency revealed that food, urban, and rural inflation also dropped, leaving core inflation on the high at 12.74 per cent which rose due...

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French President Host African Leaders on Post-Covid African Financing

AfricaBusinessInvestingFrench President Host African Leaders on Post-Covid African Financing

Bada Yusuf Amoo (Correspondent)May 18, 2021

France President, Emmanuel Macron, on Tuesday, hosted African leaders and global financial institutions for a summit seeking to provide Africa with critical financing after the coronavirus pandemic that drained the coffers of the continent. Africa has so far been less badly hit by the pandemic than other global regions — with a total of 130,000 dead across the continent, compared with 3.4 million worldwide. But the economic cost is only too apparent, with the International...

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Avoid Past Mistakes With Sale of GenCos, Group Advises FG

BusinessPowerAvoid Past Mistakes With Sale of GenCos, Group Advises FG

PilotnewsMay 18, 2021

LAGOS — A group, the All Electricity Consumers Protection Forum (AECPF), has advised the Federal Government to avoid mistakes of the past in its plan to sell five power Generation Companies (GenCos) to investors. Mr. Adeola Samuel-Ilori, National Coordinator, AECPF, gave the advice in an interview with the News Agency of Nigeria (NAN) on Tuesday in Lagos. NAN reports that the Bureau of Public Enterprises (BPE) had recently called for investors to acquire 100 per...

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NGX Opens Week With 0.44% Loss

BusinessInvestingNGX Opens Week With 0.44% Loss

PilotnewsMay 17, 2021

The Nigerian stock market began trading for the week on Monday with 0.44 per cent loss, amid losses recorded by some blue chips. Specifically, the All-Share Index decreased by 175 points or 0.44 per cent to close at 39,306.47 from 39,431.47 achieved on Friday. Similarly, the market capitalisation which opened at N20.579 trillion lost N92 billion to close at N20.487 trillion. The downtrend was driven by price depreciation in medium and large capitalised stocks amongst...

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ICPC Hunts Buhari’s Inlaw, Two Others Over $65m National Housing Funds

BusinessCorruptionLaw & JusticeICPC Hunts Buhari’s Inlaw, Two Others Over $65m National Housing Funds

Hassan Umar Shallpella (Regional Correspondent)May 14, 2021

ABUJA — The Independent Corrupt Practices and other related offenses Commission (ICPC) has declared Gimba Kumo, former managing director of the Federal Mortgage Bank of Nigeria a son-in-law of President Muhammadu Buhari, and two others wanted over alleged misappropriation of $65 million National Housing Funds. In the notice signed by its spokesperson Azuka Ogugua, the ICPC declared Mr. Kumo wanted alongside Tarry Rufus and Bola Ogunsola over the alleged fraud. “The persons whose pictures appear...

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Refinery Rehabilitation: NNPC Tasks Contractor On Project Completion

BusinessNewsOil & GasRefinery Rehabilitation: NNPC Tasks Contractor On Project Completion

PilotnewsMay 6, 2021

PORT HARCOURT — The Nigerian National Petroleum Corporation (NNPC)  has tasked the Contractor to rehabilitate the Port Harcourt Refineries Companies (PHRC) to ensure completion of the project at the estimated time frame. The Group Managing Director, Malam Mele Kyari disclosed this at the kick-off meeting of the Rehabilitation of PHRC, in Port Harcourt, on Thursday. The News Agency of Nigeria reports that the meeting signified the take-off of the rehabilitation project. The PHRC operates two refineries;...

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Senate Directs Nigeria Customs Service To Seized Goods To Traders

BusinessNewsSenate Directs Nigeria Customs Service To Seized Goods To Traders

Hassan Umar Shallpella (Regional Correspondent)May 5, 2021

The chairman, Senate Committee on Ethics, Privileges and Public Petitions Senator Ayo Akinyelure has asked the Nigeria Customs Service to return the goods it seized from shops of rice traders in Ibadan, Oyo State. The committee’s chairman stated this after his panel heard a petition from the rice traders. The traders had, through Senator Kola Balogun (Oyo South), petitioned the Senate, alleging that men of the Nigerian Customs invaded Oja Oba and Bodija markets in...

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FG Extends Deadline for NIN-SIM Registration to June 30

BusinessTelecommunicationFG Extends Deadline for NIN-SIM Registration to June 30

Beloved John (Staff Writer)May 4, 2021

The deadline for NIN-SIM registration has been extended for another eight weeks. The extension was approved by the federal government to enable telecom subscribers link their NIN to their sim cards without any last-minute hitch according to Isa Pantami, the Minister of Communications and Digital Economy. A joint statement by the Nigerian Communications Commission and the National Identity Management Commission confirmed that Isa made the announcement during a virtual meeting. The announcement makes it the...

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