Amaechi Speaks on China Loan, Says Nigeria Will Pay Back in 20 years

EconomyNewsAmaechi Speaks on China Loan, Says Nigeria Will Pay Back in 20 years

Beloved John (Staff Writer)August 2, 2020

The Minister of Transportation, Rotimi Amaechi, on Saturday said the government has the capability to pay back the Chinese loans collected for the construction of rail projects within the stipulated period of 20 years. In a statement, Amaechi said that China was the only country giving out loans with a low-interest rate of 2.8 per cent. He stated that no country in the world would give out a loan without a guarantee to pay back...

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The Only Thing Pharmaceutical Companies Don’t Import is Water — NAFDAC DG

BusinessNewsNigeriaThe Only Thing Pharmaceutical Companies Don’t Import is Water — NAFDAC DG

Beloved John (Staff Writer)August 1, 2020

The Director-General of the National Agency for Food and Drug Administration and Control (NAFDAC), Mojisola Adeyeye has spoken on the rate and scope importation by pharmaceutical companies, saying the only thing not imported is water. The DG who appeared as a guest on Sunrise Daily, a programme on Channels Television, stated that more efforts should be directed towards local production. Highlighting the effects of importation and how it has affected the availability of medical supplies...

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Why Nigeria Should Take Decisive Method in Managing Public Assets – Olusegun Aganga

EconomyNewsWhy Nigeria Should Take Decisive Method in Managing Public Assets – Olusegun Aganga

Bada Yusuf Amoo (Correspondent)August 1, 2020

The former Nigerian Finance Minister, Olusegun Aganga, has said there are many assets belonging to Nigeria ministries, agencies and departments that are not managed actively. Aganga disclosed this at a webinar organized by EY Nigeria Alumni on Thursday evening. He adds that the country needs to take decisive actions in growing and diversifying its economy. He says, “As a country, we do have so many assets held by different MDAs that are not actively managed....

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Nigeria: Two Problems and a Lesson on How to Not Run a Country

EconomyNewsSpecial ReportNigeria: Two Problems and a Lesson on How to Not Run a Country

Adeola Oladipupo (Correspondent)August 1, 2020

Five months into the pandemic, Nigeria is learning the hard way that some of its unresolved problems would make recovery from COVID-19 slow and difficult. Many sectors in Nigeria have grappled with poor infrastructure for many years. A problem that has rendered many of them ineffective. Education and health are two of the most wrenched sectors in Nigeria in the wake of COVID-19. Although many had thought that the virus would be confined to Asia...

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Gov. Ikpeazu inaugurates 7-Member Board to Manage Enyimba Automated Shoe Factory

BusinessNewsGov. Ikpeazu inaugurates 7-Member Board to Manage Enyimba Automated Shoe Factory

PilotnewsJuly 30, 2020

Gov. Okezie Ikpeazu of Abia on Thursday inaugurated a seven-member board to manage the newly established Enyimba Automated Shoe factory. Speaking during the event in Umuahia, Ikpeazu urged the board to transform “Made in Abia” leather works into a global brand. He described the establishment of the shoe factory as a culmination of the state government’s efforts to mainstream Abia in the competitive global shoe market. “The primary objective for establishing the factory was to create a...

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Enugu State Governor Signs Revised 2020 Budget into Law, Recurrent Expenditure Receives 48% Increase

BusinessNewsEnugu State Governor Signs Revised 2020 Budget into Law, Recurrent Expenditure Receives 48% Increase

Ije Ulasi (Regional Correspondent)July 30, 2020

The Enugu State Governor, Ifeanyi Ugwuanyi on Tuesday signed the revised 2020 budget of One hundred and forty-six billion, three hundred and seventy-four million, six hundred and forty-one thousand, eighty naira only (N146,374,641,080.00) into law. The downward review of the budget represents a 13.67 percent reduction of the initial approved 2020 budget size of One hundred and sixty-nine billion, five hundred and fifty-seven million, six hundred and fifty-eight thousand, three hundred naira only (N169,557,658,300.00). “The...

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Eid-El-Kabir: Rams Dealers Decry Low Patronage In Adamawa

BusinessNewsReligionEid-El-Kabir: Rams Dealers Decry Low Patronage In Adamawa

Ibrahim Abdul' Aziz (Correspondent)July 29, 2020

Less than two days to the Eid-el-Kabir Sallah festivities,  rams and other livestock dealers in Adamawa have decried low patronage amid unprecedented hike in prices. Some dealers, spoken to in Jimeta and Yola markets, described the market condition as discouraging. Muhammadu Yellow, the sarkin Tike Jimeta, said the was recording low sales as against the high patronage during the previous festive season. Sarkin Tike, attributed the situation to the effect of coronavirus pandemic and increased...

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Arik Air Reconnects Kano, Yola

BusinessNewsTravelArik Air Reconnects Kano, Yola

PilotnewsJuly 27, 2020

Arik  Air on Monday announced  the  resumption of  its flight  operations  to  Mallam  Aminu  Kano  International Airport, Kano, and Yola Airport from July 28. Mr Adebanji Ola, its Communications Manager, said in a statement in Lagos that both services would originate from Nnamdi Azikiwe International Airport, Abuja, with connections to and from Murtala Muhammed Airport, Lagos. According to Ola, Arik Air will be operating separate flights from Abuja to Kano and Yola. “Flights from Abuja...

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NLC Rejects 6% Tenancy, Lease Stamp Duty Agreement

JobsNewsNigeriaNLC Rejects 6% Tenancy, Lease Stamp Duty Agreement

PilotnewsJuly 25, 2020

The Nigeria Labour Congress (NLC) has urged the Federal Government to reverse the six per cent tenancy and lease stamp duty agreement in the country. Mr Ayuba Wabba, NLC President said this in a statement on Saturday in Abuja. Wabba said that the Congress noted with dismay the new policy by the Federal Government through the Federal Inland Revenue Service (FIRS) stipulating a six per cent stamp duty fee for every tenancy and lease agreement...

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774,000 Jobs: MC Oluomo, Asiwaju Tinubu’s Daughter, 18 Others Inaugurated as Lagos Selection Committee

JobsNews774,000 Jobs: MC Oluomo, Asiwaju Tinubu’s Daughter, 18 Others Inaugurated as Lagos Selection Committee

Adeola Oladipupo (Correspondent)July 24, 2020

The Federal Government’s initiative which is meant to create 1000 jobs in 774 local governments across the country has kicked off in Lagos State with the inauguration of 20 members into the selection committee. The 20 members of the selection committee would represent each local government areas in Lagos State. Its Chairman is Alhaji Mutiu Are and Barrister Eleshin Kassim would serve as his deputy. “The programme is aimed at achieving objectives which is centred...

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