Buhari Nominates Okonjo-Iweala to Head World Trade Organization

BusinessWorld NewsBuhari Nominates Okonjo-Iweala to Head World Trade Organization

Bada Yusuf Amoo (Correspondent)June 5, 2020

President Muhammadu Buhari has nominated former Coordinating Minister for the Economy, Ngozi Okonjo-Iweala for the position of the Director-General of the World Trade Organization. In an official statement from the Federal Government of Nigeria which was sent to the African Union Thursday, President withdrew the candidacy of Yonov Agah, Nigeria’s permanent representative to the WTO, for the same position. The election is scheduled to hold in 2021 in Geneva, Switzerland. The position is run for...

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Ogun Assembly Passes Mortgages Bill

BusinessNewsNigeriaOgun Assembly Passes Mortgages Bill

PilotnewsJune 4, 2020

The Ogun House of Assembly on Thursday passed the bill establishing the Ogun Mortgages and Foreclosure Authority to regulate mortgages in the state. Mr Damilola Soneye, the Chairman, House Committee on Lands and Housing, presented the committee’s report to the Assembly during plenary in Abeokuta. Soneye (APC -Obafemi Owode) moved the motion for the adoption of the report and this was seconded by Wahab Haruna (ADC -Yewa North 11). Mr Yusuf Sherif, the Majority Leader,...

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Nigeria’s Proven Gas Reserve Now 203.16tcf, Says DPR

BusinessNewsOil & GasNigeria’s Proven Gas Reserve Now 203.16tcf, Says DPR

PilotnewsJune 4, 2020

The Department of Petroleum Resources (DPR) said on Wednesday that Nigeria’s proven natural gas reserve had become 203.16trillion cubic feet (tcf), while crude oil reserve was 36.89billion barrels (bb) as at Jan. 1, 2020. Mr Sarki Auwalu, Director, DPR,  gave the numbers on Wednesday during an online interactive session with the media on topical issues in the oil and gas industry in Nigeria. Auwalu said the new figures represented a marginal increase of 1.16tcf in proven...

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PPPRA Reduces PMS Pump Price to N121.50 Per Litre

BusinessNigeriaOil & GasPPPRA Reduces PMS Pump Price to N121.50 Per Litre

PilotnewsJune 1, 2020

The Petroleum Products Pricing Regulatory Agency (PPPRA) has slightly reduced the pump price of Premium Motor Spirit (PMS), also known as petrol to N121.50 per litre from N123.50. The agency disclosed this in a letter to marketers with reference number A.4/9/017/C.2/V/701 titled “Guiding Price for Premium Motor Spirit (PMS) in the Month of June 2020,” released on Monday in Abuja. The News Agency of Nigeria (NAN) reports that the new price is N2 less than...

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COVID-19: Tobacco Giant to Take Legal Action Against Sales Ban by South Africa

AfricaBusinessCoronavirusNewsCOVID-19: Tobacco Giant to Take Legal Action Against Sales Ban by South Africa

PilotnewsMay 29, 2020

British American Tobacco South Africa (BATSA) on Friday announced that it would begin urgent legal proceedings to challenge the government’s continued ban on tobacco sales during the coronavirus lockdown. South Africa has started easing its lockdown measures, allowing sales of alcohol from Monday. However, a ban on sales of tobacco will remain in place. The government has cited health reasons for the ban, but human rights groups and business leaders say it has dire consequences...

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Sanusi II Calls for What is Right, Justice to Reject US External Inquiry Call on Adesina

AfricaBusinessNewsSanusi II Calls for What is Right, Justice to Reject US External Inquiry Call on Adesina

Bada Yusuf Amoo (Correspondent)May 29, 2020

The former Emir of Kano and former Governor of the Central Bank of Nigeria, Muhammadu Sanusi II, has called on Africans and friends of the continent to stand for what is right, justice to ensure that laid down rules are respected in the African Development Bank (AfDB) Group. The former Emir made the call following the US Government calls for an independent investigation after the Ethics Committee of the Banks has exonerated the President of...

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The US Calls on AfDB: “Its Governance Could be Hijacked Away from Africa” – Obasanjo

AfricaBusinessNewsThe US Calls on AfDB: “Its Governance Could be Hijacked Away from Africa” – Obasanjo

Bada Yusuf Amoo (Correspondent)May 29, 2020

The former President of Nigeria, Chief Olusegun Obasanjo has joined other African leaders and figures calling for the defense of African Development Bank (AfDB) and its President, Dr. Akinwunmi Adesina against external forces. Obasanjo in an open letter called on past leaders and heads of states in the African continent to rise up and defend the bank from external forces. He alleged that the call by the United States for an external investigation into what...

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Fintiri Thumps Adamawa Teachers For Setting Up Petrol Station To Boost Revenue

BusinessJobsNewsNigeriaFintiri Thumps Adamawa Teachers For Setting Up Petrol Station To Boost Revenue

Ibrahim Abdul' Aziz (Correspondent)May 29, 2020

Governor Ahmadu Umaru Fintiri of Adamawa state has commended the Nigeria Union of Teachers (NUT) in the state for building a petrol station to boost its sources of revenue going by the dwindling economic resources in the country and across the globe. Fintiri who made the commendation during a ceremony to flag off Adamawa NUT Petro Gas Nigeria Limited, along Federal Housing in Girei local government area, described the initiative as the  ‘’right steps  in...

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Oil Drops as Surprise U.S. Stock Build Douse Demand Recovery Hopes

BusinessOil & GasWorldOil Drops as Surprise U.S. Stock Build Douse Demand Recovery Hopes

PilotnewsMay 28, 2020

Oil prices slid for a second consecutive session on Thursday as the U.S. industry data showed a steep and surprising build-up in crude stockpiles, dampening hopes of a smooth demand recovery as the world begins to ease its way out of coronavirus lockdowns. The decline extended losses from Wednesday on uncertainty about Russia’s commitment to deep oil production cuts in the lead-up to a June 9 meeting of the Organisation of the Petroleum Exporting Countries...

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Police Confirm Arrest of Alleged Adulterated fertiliser Syndicate In Minna

BusinessCrime & SecurityNewsNigeriaPolice Confirm Arrest of Alleged Adulterated fertiliser Syndicate In Minna

PilotnewsMay 27, 2020

The police on Wednesday confirmed the arrest of the leader of a syndicate who allegedly specialises in adulterating Nigerian-made fertilisers in Niger. The Command PPRO, ASP Wasiu Abiodun, told the News Agency of Nigeria (NAN) on Wednesday over the telephone that the arrest was made possible following intelligence report. He said the suspect, identified as Alhaji Maikudi Abdullahi, was arrested following intelligence reports of the “surreptitious activities” in his factory called “Farm Centre ”. According...

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