Bill To Establish State Tourism, Arts, Culture Endowment Fund Pass Into By Akwa Ibom State House Of Assembly

BusinessLifestyleTourismBill To Establish State Tourism, Arts, Culture Endowment Fund Pass Into By Akwa Ibom State House Of Assembly

Hassan Umar Shallpella (Regional Correspondent)August 6, 2021

UYO — A Bill to establish the State Tourism, Arts and Culture Endowment Fund (AKSTACEF) has been passed into law by the Akwa Ibom State House of Assembly on Thursday. The member representing Itu State Constituency and Chairman, House Committee on Industry, Commerce and Tourism Hon KufreAbasi Edidem while presenting the report explained that the new law, when assented to by the state Governor, would boost the funding of the tourism sector as well as improve the...

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FG Approves $1.4bn to Rehabilitate Warri and Kaduna Refineries

BusinessOil & GasFG Approves $1.4bn to Rehabilitate Warri and Kaduna Refineries

Bada Yusuf Amoo (Correspondent)August 5, 2021

ABUJA — The Federal Executive Council (FEC) on Wednesday approved contracts for the rehabilitation of Warri and Kaduna refineries at a sum total of $1.4 billion. The breakdown of the rehabilitation showed that $897 million will go for the Warri refinery and $586 million for the Kaduna refinery. The Minister of state for petroleum revealed this to State House correspondents after the Federal Executive Council meeting, which was chaired by Vice President Yemi Osinbajo. The...

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SPECIAL REPORT: Relief Market, Nnewi Has a Master Plan- Uruagu Youths

BusinessLocal GovernmentSPECIAL REPORT: Relief Market, Nnewi Has a Master Plan- Uruagu Youths

PilotnewsAugust 5, 2021

By Ononuju Egwuonye, Staff Writer NNEWI — The commercial city of Nnewi was shut down on the 4th of August, 2021 by a group of male youths under the auspices of Uruagu youths forum who embarked on a peaceful protest around strategic points of the ancient town of Nnewi north. They went to the palaces of all the four traditional institutions in the only one- town Local Government Area of Anambra State to express their...

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Foodstuff Traders In Enugu Attribute Rise In Cost To Insecurity

BusinessFoodFoodstuff Traders In Enugu Attribute Rise In Cost To Insecurity

Ije Ulasi (Regional Correspondent)July 28, 2021

ENUGU — The menace of suspected Fulani herdsmen at farm settlements in Enugu state has crippled rate of farm produce in the state resulting in the high cost of foodstuffs in the market. Speaking to WAPN correspondent, a vegetable seller in the popular New Market Enugu, who pleaded anonymity explained, “The cost of foodstuffs are very high now as opposed to what it used to be at this time of year, rainy season,” “This is...

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Nnewi is Competing Favourably With Cosmopolitan Cities- Madubuko

BusinessEconomyNewsNnewi is Competing Favourably With Cosmopolitan Cities- Madubuko

PilotnewsJuly 27, 2021

By Jennifer Egwuonye, Staff writer   NNEWI — In a bid to create an enabling environment for economic, social, political, and other lucrative activities to thrive in Nnewi North Local Government Area, the transition chairman, Hon. Chukwudi Orizu and erudite academician, Professor Victor Madubuko had an excellent and meaningful tete-a-tete. This is in line with the visit of Prof. Madubuko, an adjunct professor at Yeshiva University, New York to harness the available resources in Nnewi...

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Bureau De Change Stopped from Operating Forex Sales as CBN Retains Lending Rate

BusinessMoneyBureau De Change Stopped from Operating Forex Sales as CBN Retains Lending Rate

Bada Yusuf Amoo (Correspondent)July 27, 2021

ABUJA — The operators of the Bureau De Change have been, with immediate effect, stopped from operating forex sales by the Central Bank of Nigeria (CBN). This was disclosed by the Governor of the CBN, Godwin Emefiele, after the two-day meeting of the Monetary Policy Committee (MPC) in Abuja on Tuesday. The Committee, at the end of the meeting, also retained the Monetary Policy Rate at 11.5 percent. The MPC also retained the Cash Reserve...

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The Annual Income of Lagos NURTW Can Service the Annual Budget of Nasarawa, Yobe, Niger Put Together – Report

BusinessTransportationThe Annual Income of Lagos NURTW Can Service the Annual Budget of Nasarawa, Yobe, Niger Put Together – Report

Bada Yusuf Amoo (Correspondent)July 23, 2021

LAGOS — The Lagos State Chapter of the National Union of Road Transport Workers, NURTW, popularly referred to as Agberos generates about N123.08 billion annually. This was according to the statistical report by the International Centre for Investigative Report. The report also showed that the yearly income of the transport union could service the annual budget of Nasarawa, Niger, and Yobe states put together. Other sources of income excluded from the report were money levied...

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Gas Flaring: Nigeria Lost N53.26bn In Two Months

BusinessOil & GasGas Flaring: Nigeria Lost N53.26bn In Two Months

Hassan Umar Shallpella (Regional Correspondent)July 22, 2021

Nigeria lost an estimated N53.26bn in the first two months of this year as international oil companies and local players flared a total of 33.04 billion standard cubic feet of natural gas. The NNPC, in its latest monthly report, said out of the 206.05 billion scf produced in February, a total of 133.06 billion scf was commercialised, consisting of 40.15 billion scf and 92.91 billion scf for the domestic and export market respectively. The oil...

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Lawyers Decries Non-Payment Of Judgment By Federal Government Agencies

BusinessLaw & JusticeNigeriaLawyers Decries Non-Payment Of Judgment By Federal Government Agencies

Hassan Umar Shallpella (Regional Correspondent)July 21, 2021

ABUJA — Lawyers who have won various litigations against the federal government agencies have cried out over non-payment of judgment debts incurred by the government. In a statement issued by the director of Legal Services, Centre for Civic Education, Barrister Agomuo Chimaobi, on behalf of the lawyers, said the unpaid judgement debts were affecting them economically, having used their personal resources to prosecute some of the cases on behalf of their clients. Parts of the...

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OPEC+ to Boost Oil Production

BusinessOil & GasOPEC+ to Boost Oil Production

Beloved John (Staff Writer)July 18, 2021

The Organisation of Petroleum Exporting Countries and its allies known as OPEC+ have decided to boost oil production by 400,000 barrels per day. The group reached this agreement at the 19th OPEC and non-OPEC ministerial meeting on Sunday. In June, OPEC+ had agreed to increase output in July, in line with the group’s April decision to return 2.1 million barrels per day to the market between May and July. However, the deal which was meant...

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