Nigerian Considering Budget Review as Covid-19 Strikes Oil Prices

EconomyNewsNigeriaNigerian Considering Budget Review as Covid-19 Strikes Oil Prices

PilotnewsMarch 5, 2020

The Federal Government of Nigeria is considering a review of the 2020 budget in order to make plans for the drop in oil prices triggered by coronavirus outbreak globally, Mrs. Zainab Ahmed, the Minister of Finance/Budget Planning said on Wednesday. According to the minister, the government was troubled by the fall in oil revenue and that a mid-term review of the budget was on the table. Briefing newsmen after the Federal Executive Council meeting, the...

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Buhari’s $22.7 Billion Loan Request Approved as Some Senators Alleged Exclusion of Some Regions

EconomyNewsNigeriaBuhari’s $22.7 Billion Loan Request Approved as Some Senators Alleged Exclusion of Some Regions

Adeola Oladipupo (Correspondent)March 5, 2020

After a heated debate and a closed- door session that lasted 45 minutes, lawmakers in the Senate have approved President Buhari’s $22.7 billion loan request to fund key infrastructural projects, four years after it was rejected by the Saraki-led eight Senate. The loan request was given a green-light after the report of the Senate committee on Local and Foreign debts was read and recommended for approval by its chairman, Clifford Ordia (PDP, Edo). But some...

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Nigeria: VAT Increase Means More Money for States Governments, but Do Governors Need More Money?

EconomyNewsNigeriaNigeria: VAT Increase Means More Money for States Governments, but Do Governors Need More Money?

Adeola Oladipupo (Correspondent)February 22, 2020

Following the 7.5 percent Value Added Tax increase and implementation by Nigeria, the country’s Accountant-General, Ahmed Idris, has announced that states and Local Governments would get more funds beginning from February. The announcement which was received by many, especially state governors and local government officials — who had before now, claimed that they were not getting enough funds from the federal government – as a welcome development was made during the Federal Account Allocation Committee...

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Lagos to launch maiden Eko City Farmers’ Market Feb. 23

EconomyFoodNewsLagos to launch maiden Eko City Farmers’ Market Feb. 23

PilotnewsFebruary 16, 2020

A new farmers’ market where Lagosians can buy fresh farm produce at farm gate prices will open at Tafawa Balewa Square (TBS) next Sunday. Lagos State Commissioner for Agriculture, Gbolahan Lawal, told newsmen on Sunday that the Eko City Farmers’ Market, debuting on Feb. 23 at TBS, would subsequently hold on last Sunday of every month. He noted that the Eko City Farmers’ Markets was a platform where the best of Lagos farmers would meet...

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Why We’re Prioritising Fight Against Cybercrime – Pantami

EconomyNational SecurityTechnologyWhy We’re Prioritising Fight Against Cybercrime – Pantami

Stanley Diamond (Busines Correspondent)February 15, 2020

Minister of Communications, Dr.  Isa Ibrahim Pantami says Federal the ministry is adopting  new strategies and technologies to tackle Cybercrime in Nigeria because the crime travels at the speed of light while cyber security travels at the speed of law. The Minister explained that part of the strategies being adopted include  the recent 5 G trial in Abuja and  capacity building as well as ensuring that our infrastructure is secured and  adoption of new policies and laws that will help...

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Spending power: top six African countries rank in the bottom 10

AfricaEconomyMarketsSpending power: top six African countries rank in the bottom 10

Ije Ulasi (Regional Correspondent)February 10, 2020

In the early 2010s, African tech ecosystems were defined by the promise of e-commerce with a simple mission: getting hundreds of millions of young Africans to make online purchases. A decade on, the mission still remains a work in progress with question marks lingering around logistics and last mile delivery problems—and that’s reflected in the level of spending among African shoppers. Across the continent, recently released data shows South African shoppers spent an average of...

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“Don’t take bread out of our mouths,’’ ‘Okada/Keke’ operators beg Sanwo-Olu

EconomyLifestyleNewsNigeria“Don’t take bread out of our mouths,’’ ‘Okada/Keke’ operators beg Sanwo-Olu

PilotnewsFebruary 1, 2020

Some operators of commercial motorcycles (Okada) and tricycles `Keke’ NAPEP in Lagos said that the ban on their operations by Gov. Babajide Sanwo-Olu would deprive them of their daily bread. The operators said this while speaking with the  News Agency of Nigeria (NAN) in separate interviews on Saturday in Lagos. They added that the government’s plan would also affect them and their families in negative ways. They urged the government to be lenient with them,...

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Lagos commercial motorcycle operators protest ban, seek regulation

EconomyLifestyleNewsNigeriaLagos commercial motorcycle operators protest ban, seek regulation

PilotnewsJanuary 31, 2020

Commercial motorcycle operators, comprising Gokada, Max and 1st Ride companies, on Friday staged a peaceful protest against the recent ban of their operations in parts of Lagos State. The operators, who protested from Ojota area to the Lagos State House of Assembly, Ikeja, called on the state government to regulate their operations rather than ban them. Mr Steve Orajiaku of 1st Ride company, told newsmen that the state government did not consult with the operators...

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FG Moves to Release 2021-2025 Medium Term Devt. Plan

BusinessEconomyNewsNigeriaFG Moves to Release 2021-2025 Medium Term Devt. Plan

PilotnewsJanuary 31, 2020

By Stanley Edward   The Federal government says the successor Medium, Term National Development Plan: 2021-2025 will be ready soon. The Plan together with the Agenda 2030 of the federal government is expected to accentuate and provide a coordinated approach for harnessing the inherent potentials of the bio-economy, towards addressing the employment challenge in the country. The Minister of State for Finance, Budget and National Planning Prince Clem Agba, who disclosed this on Thursday at...

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Nigeria to begin rice export in 2 years – Minister

BusinessEconomyNewsNigeriaNigeria to begin rice export in 2 years – Minister

PilotnewsJanuary 29, 2020

The Minister of Agriculture and Rural Development, Mr Sabo Nanono, said on Tuesday in Abuja that Nigeria would hopefully begin exporting rice to other countries in the next two years. Nanono hinted this in a statement issued on his behalf by Mr Theodore Ogaziechi, the Director of Information in the ministry. The statement quoted the minister as saying that the border closure by the federal government had resulted in increased output of local rice by...

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