New Vehicle Loading Terminal Open In Yola Town

EconomyInfrastructureNewsNew Vehicle Loading Terminal Open In Yola Town

Hassan Umar Shallpella (Regional Correspondent)December 4, 2020

By Hassan Umar Shallpella, News Correspondent ____ In its effort to expand the loading terminals, the Adamawa State Transport Board operators of “Sunshine Express” has open a new terminal in Yola town loading passengers from Yola to Jalingo, Abuja, Kano, Bauchi, Jos among others. Commissioning the terminal, Adamawa State Commissioner for Transport Adamawa State Alhaji Mustapha Jika said the terminal is aim at boosting the transportation activities in the state He called on residents of...

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DELTA STATE: Gov. Okowa Assents to 2021 Budget of N383bn

EconomyNewsNigeriaDELTA STATE: Gov. Okowa Assents to 2021 Budget of N383bn

PilotnewsNovember 30, 2020

Gov. Ifeanyi Okowa of Delta on Monday in Asaba assented to the state’s 2021 Appropriation Bill of N383 billion. The bill tagged “Budget of Economic Recovery” is made up of N210 billion capital expenditure and N173 billion recurrent expenditure The Delta House of Assembly increased the budget figure of N378.48 proposed by the governor to N383 billion. Signing the budget, Okowa assured the people that the state would strive to recover from the economic challenges...

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Hike in Onion Prices Unexplainable — FCT Residents

EconomyFoodNewsNigeriaHike in Onion Prices Unexplainable — FCT Residents

PilotnewsNovember 28, 2020

Some residents of the Federal Capital Territory (FCT) have lamented the recent hike in the price of onions in the market, saying that most homes are doing with little or no onions in their meals The residents, who spoke with the News Agency of Nigeria (NAN) on Saturday in Abuja, said that the prices of onions had gone beyond the reach of the average Nigerian. Adullahi Ahmed, an onion seller in the popular Karu market,...

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Osinbajo Wants Nigerian Businesses, Private Sector to Tap into AFCTA

BusinessEconomyNewsOsinbajo Wants Nigerian Businesses, Private Sector to Tap into AFCTA

PilotnewsNovember 27, 2020

Vice President Yemi Osinbajo has urged Nigerian businesses and the entire private sector to tap into the Africa Continental Free Trade Area (AfCFTA) which comes into force by Jan. 2021. Osinbajo’s spokesman, Laolu Akande, in a statement on Thursday in Abuja, said the vice president spoke at the opening session of the 52nd Annual National Conference of the Chartered Institute of Personnel Management (CIPM). The theme of the conference is, “Nigeria and Manpower Preparedness for...

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Reps Move to Unearth Utilisation of $125m World Bank Loan

EconomyNewsPoliticsReps Move to Unearth Utilisation of $125m World Bank Loan

PilotnewsNovember 27, 2020

The House of Representatives Committee on Public Account on Thursday in Abuja,  moved to unearth  utilisation of 125 million  Dollars borrowed from the World Bank by the Federal Government. Rep. Wole Oke, Chairman of the committee, ordered signatories to the account of the Office of Auditor-General of the Federation (OAUGF) to appear before it to ascertain the utilisation. The News Agency of Nigeria (NAN) reports that the committee also summoned the Director-General of the Budget...

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Economists Applaud CBN’s 11% Lending Rate to Banks

EconomyMoneyNewsNigeriaEconomists Applaud CBN’s 11% Lending Rate to Banks

PilotnewsNovember 27, 2020

Economists said on Friday in Lagos that the decision by the Monetary Policy Committee (MPC) of the CBN to retain Monetary Policy Rate (MPR) at 11.5 per cent alongside other parameters was expected. MPR is the interest rate at which CBN lends to commercial banks. It is the benchmark against which other lending rates in the economy are pegged. It is usually used as an instrument to moderate inflation in the economy. The experts told...

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Nigeria Economy Doing Well Compared to South Africa, Russia – Lai Muhammed Claims

EconomyNewsNigeriaNigeria Economy Doing Well Compared to South Africa, Russia – Lai Muhammed Claims

Bada Yusuf Amoo (Correspondent)November 26, 2020

The Nigeria Minister for Information and Culture, Lai Mohammed, has said that the Nigerian economy is doing well compared to the economy of South Africa, Russia and other countries in recession. The minister said the recession is inevitable as a result of the global collapse in oil prices occasioned by the coronavirus pandemic. The minister disclosed this on Wednesday while speaking on NTA “Good Morning Nigeria Show.” It has been reported that the country’s rising...

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Finance Minister Says Land Border May Be Reopened Soon

BusinessEconomyNewsNigeriaFinance Minister Says Land Border May Be Reopened Soon

Bada Yusuf Amoo (Correspondent)November 26, 2020

The Nigeria’s land borders that have been closed since August 2019 may be reopened soon. This indication was given by the Minister of Finance, Budget and National Planning, Zainab Ahmed, during an interview with State House Correspondents on Wednesday. The Minister that the presidential committee set up on the matter has completed its job and has recommended the reopening of the borders. Ahmed disclosed that the committee would soon submit its report to President Muhammadu...

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Governor Fintiri Presents Over N140b Budget Proposal For 2021

EconomyNewsNigeriaGovernor Fintiri Presents Over N140b Budget Proposal For 2021

Hassan Umar Shallpella (Regional Correspondent)November 23, 2020

Governor Ahmadu Umaru Fintiri of Adamawa State Monday presented the 2021 appropriation budget of over one hundred and forty billion naira (N140b) to the Adamawa State House of Assembly for consideration. The budget tagged “Budget of Stabilization” had a proposed seventy two point eight billion naira (N72.8b) for capital expenditure representing 52% while recurrent expenditure has sixty seven point two billion naira (N67.2b) representing 48% of the budget. Governor Umaru Fintiri while presenting the appropriation bill...

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Nigeria Slides Into Worst Recession In Three Decades

EconomyNewsNigeriaNigeria Slides Into Worst Recession In Three Decades

Beloved John (Staff Writer)November 21, 2020

Nigeria is currently experiencing it worst economic recession in three decades, WAP can report. According to the gross domestic product numbers released by the National Bureau of Statistics on Saturday, the nation recorded a contraction of 3.62 percent in the third quarter of 2020. This is the second consecutive quarterly GDP decline since the recession of 2016. The cumulative GDP for the first nine months of 2020, therefore, stood at -2.48 percent. The last time...

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