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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Amid Insecurity Power Outage Hits Adamawa, Taraba Metropolis

BusinessNewsNigeriaPowerAmid Insecurity Power Outage Hits Adamawa, Taraba Metropolis

Ibrahim Abdul' Aziz (Correspondent)November 24, 2020

By Ibrahim Abdul’AZiz, Regional Correspondent Residents of Jimeta-Yola, and Girei, Adamawa State have cried out over power outage adversely affecting the city and its environs for the past few weeks, accusing Yola Electricity Distribution Company (YEDC) of “total neglect” amid insecurity plaguing the society. Worst hit areas includes: Yola, Bachure, Wauru- Jebbe, Demsawo, Nassarawo, Bajabure, Vunikilang and some parts of Girei local government areas, but Jimeta Business unit of the  power company attributed it to...

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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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DPR Warns Adamawa –Taraba Marketers Against Exploitation

BusinessNewsOil & GasDPR Warns Adamawa –Taraba Marketers Against Exploitation

Ibrahim Abdul' Aziz (Correspondent)November 21, 2020

By Ibrahim Abdul’Aziz, Regional Correspondent The Department of Petroleum Resources (DPR) has warned marketers operating in Adamawa state not to use petrol subsidy removal as an excuse to exploit customers at the filling stations, threatening that any filling stations engaged in sharp practices will be  sanctioned  by the regulatory body. The Operations Controller (DPR) in charge of Adamawa/Taraba field office,Sadiq Ibraheem Danjuma who gave the warning  during an interactive session with journalists said that the...

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Court In Yola Jailed Okada Rider For 3 Years For Impersonation

BusinessLaw & JusticeNewsCourt In Yola Jailed Okada Rider For 3 Years For Impersonation

Hassan Umar Shallpella (Regional Correspondent)November 21, 2020

Upper Area Court II sitting in Yola, Adamawa state on Friday convicted a 24-year-old Ja’afaru Usman Keke Napep (Okada Rider) to 3 years imprisonment without an option of fine for impersonation as Nigeria Airforce personnel. Jaafaru Usman, an indigene of Gwoza Local Government Area, Borno state, was caught on the 1st July 2020 fully dressed in a military uniform with the rank of the last corporal along with Legend Club, a popular joint in Jimeta-Yola,...

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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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