IMF Says Nigeria, Other African Oil Exporters Will Lose $34bn Due to COVID-19

EconomyNewsOil & GasIMF Says Nigeria, Other African Oil Exporters Will Lose $34bn Due to COVID-19

Bada Yusuf Amoo (Correspondent)July 1, 2020

The International Monetary Fund (IMF) has said that Nigeria and other oil exporters in African will lose a total of about $34bn in revenue as a result of the COVID-19 pandemic. The IMF added that the projected decline in revenue is associated to the unstable global crude oil prices. The Director of the IMF in the African Department, Abebe Selassie, stated this at the Africa Ministerial Roundtable on COVID-19 impact on the energy sector in...

CONTINUE READING
Atedo Peterside Resigns as Cadbury Board Chairman

BusinessNewsAtedo Peterside Resigns as Cadbury Board Chairman

PilotnewsJuly 1, 2020

Cadbury Nigeria Plc on Tuesday notified the Nigeria Stock Exchange (NSE) of the resignation of Mr Atedo Peterside as Chairman of the Board of Directors, effective June 30. The Company Secretary, Mr Fola Akande, made the disclosure in a notification letter sent to the NSE in Lagos. Akande said Peterside joined the company as a member of the board in August 2009 and rose to become the chairman in April 2010. The company secretary said...

CONTINUE READING
FIRS Generates N66bn from Stamp Duties in 5 months

EconomyNewsNigeriaFIRS Generates N66bn from Stamp Duties in 5 months

PilotnewsJune 30, 2020

The Federal Inland Revenue Service (FIRS) has generated the sum of N66 billion from stamp duties between January and May. Mr Abdullahi Ahmad, the FIRS Director, Communications and Liaison Department made this known in a statement in Abuja on Tuesday. Ahmad said the Executive Chairman of FIRS, Muhammad Nami, disclosed this at the inauguration of the Inter-Ministerial Committee on Audit and Recovery of Back Years Stamp Duties and the unveiling of the FIRS Adhesive Stamp...

CONTINUE READING
Johnson Promises Billions of Pounds to Revamp Economy

EconomyWorld NewsJohnson Promises Billions of Pounds to Revamp Economy

PilotnewsJune 30, 2020

Prime Minister Boris Johnson on Tuesday promised to spend 5 billion pounds (or 6.15 billion dollars) on infrastructure projects to kick-start Britain’s economic recovery. According to him, the plan is to help the country through the expected severe economic impacts of the coronavirus pandemic as well as Britain leaving the EU. “The spending programme will also tackle Britain’s great unresolved challenges of the last three decades. “To this end, we will build, build and build....

CONTINUE READING
Buhari Pledges Speedy Completion of $2.5bn AKK Gas Pipeline Project

EconomyNigeriaOil & GasBuhari Pledges Speedy Completion of $2.5bn AKK Gas Pipeline Project

PilotnewsJune 30, 2020

President Muhammadu Buhari on Tuesday in Abuja affirmed the Nigerian government’s commitment to ensure timely delivery of the landmark Ajakuota-Kaduna-Kano Gas (AKK) gas pipeline project within budgetary allocation and specifications. Speaking at the virtual flag-off ceremony of the project at the Ajaokuta, Kogi and Rigachikun, Kaduna State campsites simultaneously, Buhari said the project was very dear to the people of Nigeria and must succeed. He, therefore, directed the NNPC and partners to remain focused, noting...

CONTINUE READING
Why DISCOs Agreed to Postpone Tariff Hike Implementation After NASS Intervention

BusinessNigeriaPowerWhy DISCOs Agreed to Postpone Tariff Hike Implementation After NASS Intervention

Adeola Oladipupo (Correspondent)June 30, 2020

The National Assembly has prevailed on electricity distribution companies to postpone the tariff increase which was due to be implemented on July 1. The resolution was reached at a meeting between the National Assembly leaders, including the President of the Senate, Ahmad Lawan; the Speaker of the House of Representatives, Rt. Hon. Femi Gbajabiamila; Chairmen of the of the Committees on Power from the Senate and House of Representatives; other principal officers of the two...

CONTINUE READING
NEWS UPDATE: FG lifts Interstate Travel Ban, Approves Operation of Domestic Flight

BusinessCoronavirusNEWS UPDATE: FG lifts Interstate Travel Ban, Approves Operation of Domestic Flight

Beloved John (Staff Writer)June 29, 2020

The Federal Government has lifted the ban placed on interstate movement, disclosing that citizens can travel from July 1, provided such journeys are made outside curfew hours. Boss Mustapha, Chairman of the Presidential Task Force on COVID-19, disclosed this on Monday at the ongoing daily briefing of the task force in Abuja. Mustapha, who is also the Secretary to the Government of the Federation (SGF), also said the government has approved the safe resumption of...

CONTINUE READING
FCTA Mobile Court Seals Hotel, Nightclub in Maitama

BusinessCoronavirusNewsFCTA Mobile Court Seals Hotel, Nightclub in Maitama

PilotnewsJune 29, 2020

The Federal Capital Territory Administration (FCTA) Mobile Court, on Monday ordered the seal up of Missouri hotel, located in Maitama District of Abuja, for allegedly operating a nightclub within COVID -19 curfew hours. The court which was presided over by Magistrate Idayat Akanni, ordered that the hotel be sealed up for the period of one week for contravening COVID-19 regulations. The court also tried and sentenced 11 defaulters to engage in a three-day community service...

CONTINUE READING
BREAKING: Boeing 737 MAX Certification Flight Tests to Begin on Monday – Sources

BusinessTravelBREAKING: Boeing 737 MAX Certification Flight Tests to Begin on Monday – Sources

PilotnewsJune 28, 2020

Pilots and test crew members from the United States Federal Aviation Administration and Boeing Co (BA.N) are slated to begin a three-day certification test campaign for the 737 MAX on Monday, people familiar with the matter told Reuters. The test is a pivotal moment in Boeing’s worst-ever corporate crisis, long since compounded by the COVID-19 pandemic that has slashed air travel and jet demand. Also, FAAN holds dry run airport simulation exercise at Lagos, Abuja airports. The grounding of the fast-selling 737 MAX in...

CONTINUE READING
Imo Government Bans Mining in Owerri

BusinessNewsImo Government Bans Mining in Owerri

PilotnewsJune 26, 2020

Imo Governor, Sen. Hope Uzodinma, has banned all mining activities in Owerri and its environs to preserve the environment against effects of erosion and flooding. Uzodinma, represented by the State Commissioner for Petroleum and Environment, Dr Ikechukwu Njoku, gave the order while speaking with newsmen in Owerri on Friday. The governor warned that anyone who engaged in any form of mining activity in Owerri municipal and its environs would face the full wrath of the...

CONTINUE READING

Newer Posts

Older Posts

WP2Social Auto Publish Powered By : XYZScripts.com