Egypt to Restart Tourist Flights in July to Boost Virus-Hit Economy

AfricaMarketsTravelEgypt to Restart Tourist Flights in July to Boost Virus-Hit Economy

PilotnewsJune 11, 2020

Egypt will allow foreign tourists and flights to return to some of its resorts beginning from July, as the country struggles to contain the economic fallout from an outbreak of the new coronavirus. The country’s vital tourism and aviation sectors have borne the economic impact of the virus. Tourist and air traffic will resume to the coastal cities “least affected by the virus, beginning July 1,” Information Minister Osama Heikal said on Thursday in televised...

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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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Huawei: NATO Chief Says UK Review of 5G Security Important

BusinessTechnologyWorld NewsHuawei: NATO Chief Says UK Review of 5G Security Important

PilotnewsJune 10, 2020

The head of the NATO military alliance said that the West could not ignore the rise of China so it was important that Britain review the role of Huawei in its 5G network to ensure its security. NATO Secretary Genera, Jens Stoltenberg on Wednesday said China was coming closer to the West in various ways in the Arctic, in cyberspace and in critical infrastructure, including telecommunications. “I trust that the UK government will design their...

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Akwete Weavers Decry High Production Cost, Seek Govt Empowerment

BusinessCulture & TraditionNigeriaAkwete Weavers Decry High Production Cost, Seek Govt Empowerment

PilotnewsJune 9, 2020

Mrs. Helen Ebere, President, Akwete Cooperative Plc, in Abia has decried the lack of patronage of Akwete handmade clothes in the country occasioned by high production cost. Ebere made the disclosure in an interview with the News Agency of Nigeria (NAN) on Tuesday in Akwete, a town in Ukwa East Local Government Area of Abia. According to her, the cost of weaving a handmade two and a half yards of the Akwete cloth, has now...

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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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NERC Gives 7 Discos 14-Days to Respond to Query Over Estimated Billing

BusinessInfrastructureNewsNigeriaNERC Gives 7 Discos 14-Days to Respond to Query Over Estimated Billing

Adeola Oladipupo (Correspondent)June 9, 2020

The Nigerian Electricity Regulatory Commission (NERC) has seven electricity distribution companies 14-days to respond to allegations of not complying with the order on estimated billing. “The Nigerian Electricity Regulatory Commission has issued notices of intention to commence enforcement action against seven electricity distribution companies over their failure to comply with the Order 197/2020 on capping of unmetered R2 and C1 electricity customers,” the NERC said in a statement. The Discos are Benin, Enugu, Eko, Ikeja,...

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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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Foundation Plans 1m Jobs for Nigerians, Africans

InvestingJobsNewsNigeriaFoundation Plans 1m Jobs for Nigerians, Africans

PilotnewsJune 9, 2020

An FCT based Empowerment foundation, Ventures Platform (VPF), says plans are in the pipeline to create at least one million jobs for Nigerians and other Africans in three years to reduce the level of unemployment on the continent. Mr. Mimshach Obioha, Executive Director, Ventures Platform Foundation (VPF) said this in Abuja on Tuesday in an interview with the News Agency of Nigeria (NAN) to mark the organisation’s fourth anniversary. Obioha said the jobs would be...

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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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