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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Bill on Nigerian Local Content Passes 2nd Reading in Senate

EconomyNewsNigeriaOil & GasBill on Nigerian Local Content Passes 2nd Reading in Senate

PilotnewsJune 9, 2020

A bill for an act to enact the Nigerian Local Content act on Tuesday passed second reading in the Senate. This followed the presentation of the lead debate by the sponsor of the bill Sen. Teslim Folarin during plenary. The bill is entitled “A Bill for an Act to Enact the Nigerian Local Content to Provide for the Development, Regulation and Enforcement of Nigerian Content in all sectors of Nigerian Economy except in the Oil and Gas Sector and other matters...

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Removal of fuel Subsidy, Price-fixing Excites Atiku

EconomyNewsNigeriaPoliticsRemoval of fuel Subsidy, Price-fixing Excites Atiku

PilotnewsJune 5, 2020

ABUJA –– Former Vice President Atiku Abubakar has described the stoppage of subsidy and price-fixing for petrol as a right move by the All Progressives Congress (APC) administration led by President Muhammadu Buhari. Abubakar is also the leading opposition Peoples Democratic Party (PDP) presidential candidate in the 2019 general elections. In his verified Twitter handle on Friday, he called on Federal and State Governments to remove other impediments and roll out incentives to spur investments in the oil sector. Also, DPR warns petrol...

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Buhari Nominates Okonjo-Iweala to Head World Trade Organization

BusinessWorld NewsBuhari Nominates Okonjo-Iweala to Head World Trade Organization

Bada Yusuf Amoo (Correspondent)June 5, 2020

President Muhammadu Buhari has nominated former Coordinating Minister for the Economy, Ngozi Okonjo-Iweala for the position of the Director-General of the World Trade Organization. In an official statement from the Federal Government of Nigeria which was sent to the African Union Thursday, President withdrew the candidacy of Yonov Agah, Nigeria’s permanent representative to the WTO, for the same position. The election is scheduled to hold in 2021 in Geneva, Switzerland. The position is run for...

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Ogun Assembly Passes Mortgages Bill

BusinessNewsNigeriaOgun Assembly Passes Mortgages Bill

PilotnewsJune 4, 2020

The Ogun House of Assembly on Thursday passed the bill establishing the Ogun Mortgages and Foreclosure Authority to regulate mortgages in the state. Mr Damilola Soneye, the Chairman, House Committee on Lands and Housing, presented the committee’s report to the Assembly during plenary in Abeokuta. Soneye (APC -Obafemi Owode) moved the motion for the adoption of the report and this was seconded by Wahab Haruna (ADC -Yewa North 11). Mr Yusuf Sherif, the Majority Leader,...

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