Ghana economy Grows 4.9% Year-On-Year in First Quarter, Says Stats Office

EconomyGhanaGhana economy Grows 4.9% Year-On-Year in First Quarter, Says Stats Office

PilotnewsJune 17, 2020

ACCRA (Reuters) – Ghana’s economy grew 4.9% year-on-year in the first quarter of 2020 compared with 6.7% in the same period last year, provisional data from the state statistics service showed on Wednesday. Ghana has had one of Sub-Saharan Africa’s fastest-growing economies in recent years, but the central bank last month downgraded its 2020 growth forecast to between 2% and 2.5% from an earlier expectation of 6.8% due to the impact of the coronavirus pandemic....

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CBN Boosts 70,000 Maize Farmers Under Anchor Borrowers Programme

EconomyInvestingNigeriaCBN Boosts 70,000 Maize Farmers Under Anchor Borrowers Programme

PilotnewsJune 11, 2020

The Central Bank of Nigeria (CBN), said on Thursday that it would support 70,000 maize farmers under its Anchor Borrowers Programme, during the 2020 wet farming season. Mr Nuhu Muazu, Head Development Finance Office, CBN, disclosed this in Bwari, Abuja, at the launching of farm inputs distribution to maize farmers for the 2020 wet season. Muazu said that the programme was designed to boost food production and guarantee food security in the country. While urging...

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NASS Raises Revised 2020 Budget From N10.509trn to N10.810trn

EconomyPoliticsNASS Raises Revised 2020 Budget From N10.509trn to N10.810trn

PilotnewsJune 11, 2020

The two chambers of the National Assembly on Thursday, raised the N10.509 trillion budget proposed by the executive as revised budget for 2020 fiscal year by N301billion, passing N10.810 trillion as aggregate expenditure for the 2020 revised budget. The N301 billion added to the earlier proposal made by the executive arose from increases made on Capital expenditure proposal, which was raised from N2.230 trillion to N2.488 trillion, recurrent expenditure jerked up from the earlier proposed...

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CBN to Finance 1.6 million Farmers For 2020 Farming Season

EconomyNewsNigeriaCBN to Finance 1.6 million Farmers For 2020 Farming Season

Beloved John (Staff Writer)June 9, 2020

The Central Bank of Nigeria (CBN) has offered to fund 1.6 million farmers across the country in the 2020 wet season using its Anchor Borrowers Programme (ABP). CBN Director, Development Finance Department, Yila Yusuf disclosed this on Tuesday at the flag-off of Farm Inputs Distribution for cotton farmers in kwali, Abuja . The CBN director who was represented by Ayoola Quadri said the bank intends to finance the farmers under the bank’s 10 focal commodities...

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Over 200 truckloads of Yam Go Out of Zaki Biam Market, Every Week – Osinbajo

EconomyFoodNewsNigeriaOver 200 truckloads of Yam Go Out of Zaki Biam Market, Every Week – Osinbajo

PilotnewsJune 9, 2020

Vice President Yemi Osinbajo says over 200 truckloads of yam go out of Zaki Biam International Yam Market, Benue, every week. Osinbajo disclosed this on Tuesday in Zaki Biam, Ukum Local Government Area of Benue, during an online inauguration of the newly-reconstructed Zaki-Biam International Yam Market and Yam Storage Facility. News Agency of Nigeria (NAN)) gathered that the storage facility had the capacity of storing over 200,000 yams. The vice president said that over 70 per...

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CBN Says It Will Disburse COVID-19 Fund 48-Hours After Approval

CoronavirusEconomyNewsNigeriaCBN Says It Will Disburse COVID-19 Fund 48-Hours After Approval

Bada Yusuf Amoo (Correspondent)June 9, 2020

The Central Bank of Nigeria has said that the COVID-19 Targeted Credit Facility would be disbursed to successful applicants who have submitted their account details within 48 hours of approval. This was disclosed on Monday in a statement signed by the Director, Corporate Communications of CBN, Isaac Okorafor. According to the CBN, the applicants are households and small and medium businesses that are hard hit by the COVID-19 pandemic. Okoroafo added that all successful applicants...

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Bill on Nigerian Local Content Passes 2nd Reading in Senate

EconomyNewsNigeriaOil & GasBill on Nigerian Local Content Passes 2nd Reading in Senate

PilotnewsJune 9, 2020

A bill for an act to enact the Nigerian Local Content act on Tuesday passed second reading in the Senate. This followed the presentation of the lead debate by the sponsor of the bill Sen. Teslim Folarin during plenary. The bill is entitled “A Bill for an Act to Enact the Nigerian Local Content to Provide for the Development, Regulation and Enforcement of Nigerian Content in all sectors of Nigerian Economy except in the Oil and Gas Sector and other matters...

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Removal of fuel Subsidy, Price-fixing Excites Atiku

EconomyNewsNigeriaPoliticsRemoval of fuel Subsidy, Price-fixing Excites Atiku

PilotnewsJune 5, 2020

ABUJA –– Former Vice President Atiku Abubakar has described the stoppage of subsidy and price-fixing for petrol as a right move by the All Progressives Congress (APC) administration led by President Muhammadu Buhari. Abubakar is also the leading opposition Peoples Democratic Party (PDP) presidential candidate in the 2019 general elections. In his verified Twitter handle on Friday, he called on Federal and State Governments to remove other impediments and roll out incentives to spur investments in the oil sector. Also, DPR warns petrol...

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Enugu State Board of Internal Revenue Service Boss Re-Appointed

EconomyNewsNigeriaEnugu State Board of Internal Revenue Service Boss Re-Appointed

Ije Ulasi (Regional Correspondent)June 4, 2020

Enugu State House of Assembly has confirmed the re-appointment of Emeka Odo as Chairman Enugu State Board of Internal Revenue Service. During his screening on Thursday, Odo revealed some of his achievements as Chairman of the Board for the last four years. “During my first tenure, I automated revenue collection system in the State in order to block revenue leakages”, Odo said. He further stated that the automation of the revenue collection system has massively...

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FG Halts Refund to States for Cash Disbursed on Federal Projects Without Approval

EconomyNewsNigeriaFG Halts Refund to States for Cash Disbursed on Federal Projects Without Approval

Adeola Oladipupo (Correspondent)June 4, 2020

The Federal Executive Council (FEC) has warned states that the federal government would not refund monies they expended on federal projects within their boundaries without securing approval to begin such projects. This was disclosed by the Minister for Information, Culture and Tourism, Lai Mohammed, after the FEC meeting held on Wednesday. The minister said the FEC had approved a refund of N148,141,987,161.25 to five states – Cross River, Osun, Ondo, Bayelsa and Rivers States —...

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