Anambra House of Assembly Passes Revised 2020 Budget

EconomyNewsPoliticsAnambra House of Assembly Passes Revised 2020 Budget

Ebuka Onyekwelu (Staff Writer)May 29, 2020

AWKA – The Anambra State House of Assembly on Friday May 29, 2020 passed the Anambra State revised 2020 budget. The revised budget tagged “Anambra State Revised 2020 COVID-19 Appropriation Bill”, is a revision of the Anambra state 2020 budget that was passed in October 2019, but no longer feasible as a result of the COVID-19 pandemic which has altered all economic projections upon which the former budget was based. In 2019, Anambra Assembly was...

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Buhari to address Small Businesses at 2020 MSMEs Awards, Entries Open

CoronavirusEconomyNewsBuhari to address Small Businesses at 2020 MSMEs Awards, Entries Open

PilotnewsMay 29, 2020

In a bid to encourage small businesses in Nigeria amid the COVID-19 pandemic, President Muhammadu Buhari will address Micro Small and Medium Enterprises (MSMEs). Mr Tola Johnson, Special Assistant to the President on MSMEs, Office of the Vice President said the address which would form part of the 2020 MSMEs award would hold July 16. Johnson who addressed a virtual news conference in Abuja on Friday, said that in spite of the ravaging pandemic and its effects on MEMSe,...

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We’re Still focused on Delivering Mandate for Change – Buhari

EconomyNewsNigeriaWe’re Still focused on Delivering Mandate for Change – Buhari

PilotnewsMay 29, 2020

Malam Garba Shehu, Senior Special Assistant to the President on Media and Publicity, says President Muhammadu Buhari’s mandate for change remains relevant and will be steadily followed to improve livelihoods. Shehu gave the assurance in a statement in Abuja on Friday as the Buhari administration marks the first year anniversary of his second term in office. He said: “The campaign had been hard fought; yet the mandate the people of this country gave him was...

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COVID-19: Tobacco Giant to Take Legal Action Against Sales Ban by South Africa

AfricaBusinessCoronavirusNewsCOVID-19: Tobacco Giant to Take Legal Action Against Sales Ban by South Africa

PilotnewsMay 29, 2020

British American Tobacco South Africa (BATSA) on Friday announced that it would begin urgent legal proceedings to challenge the government’s continued ban on tobacco sales during the coronavirus lockdown. South Africa has started easing its lockdown measures, allowing sales of alcohol from Monday. However, a ban on sales of tobacco will remain in place. The government has cited health reasons for the ban, but human rights groups and business leaders say it has dire consequences...

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Sanusi II Calls for What is Right, Justice to Reject US External Inquiry Call on Adesina

AfricaBusinessNewsSanusi II Calls for What is Right, Justice to Reject US External Inquiry Call on Adesina

Bada Yusuf Amoo (Correspondent)May 29, 2020

The former Emir of Kano and former Governor of the Central Bank of Nigeria, Muhammadu Sanusi II, has called on Africans and friends of the continent to stand for what is right, justice to ensure that laid down rules are respected in the African Development Bank (AfDB) Group. The former Emir made the call following the US Government calls for an independent investigation after the Ethics Committee of the Banks has exonerated the President of...

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The US Calls on AfDB: “Its Governance Could be Hijacked Away from Africa” – Obasanjo

AfricaBusinessNewsThe US Calls on AfDB: “Its Governance Could be Hijacked Away from Africa” – Obasanjo

Bada Yusuf Amoo (Correspondent)May 29, 2020

The former President of Nigeria, Chief Olusegun Obasanjo has joined other African leaders and figures calling for the defense of African Development Bank (AfDB) and its President, Dr. Akinwunmi Adesina against external forces. Obasanjo in an open letter called on past leaders and heads of states in the African continent to rise up and defend the bank from external forces. He alleged that the call by the United States for an external investigation into what...

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Fintiri Thumps Adamawa Teachers For Setting Up Petrol Station To Boost Revenue

BusinessJobsNewsNigeriaFintiri Thumps Adamawa Teachers For Setting Up Petrol Station To Boost Revenue

Ibrahim Abdul' Aziz (Correspondent)May 29, 2020

Governor Ahmadu Umaru Fintiri of Adamawa state has commended the Nigeria Union of Teachers (NUT) in the state for building a petrol station to boost its sources of revenue going by the dwindling economic resources in the country and across the globe. Fintiri who made the commendation during a ceremony to flag off Adamawa NUT Petro Gas Nigeria Limited, along Federal Housing in Girei local government area, described the initiative as the  ‘’right steps  in...

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NEWS ANALYSIS: Will Nigeria’s Battle with COVID-19 Become Too Expensive to Sustain?

CoronavirusEconomyNigeriaNEWS ANALYSIS: Will Nigeria’s Battle with COVID-19 Become Too Expensive to Sustain?

Adeola Oladipupo (Correspondent)May 28, 2020

For every COVID-19 test carried out on suspected persons, Lagos, Nigeria’s epicenter of the viral infection with a population of over 20 million, spends between N40,000 and N50,000 ($102.56 – $128.21), Professor Akin Abayomi, Lagos State Commissioner for Health disclosed. The revelation by Prof. Abayomi highlights the magnitude of the burden of the disease and raises questions about the sustainability of the fight against COVID-19. With an estimated population of 200 million and a virus...

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Oil Drops as Surprise U.S. Stock Build Douse Demand Recovery Hopes

BusinessOil & GasWorldOil Drops as Surprise U.S. Stock Build Douse Demand Recovery Hopes

PilotnewsMay 28, 2020

Oil prices slid for a second consecutive session on Thursday as the U.S. industry data showed a steep and surprising build-up in crude stockpiles, dampening hopes of a smooth demand recovery as the world begins to ease its way out of coronavirus lockdowns. The decline extended losses from Wednesday on uncertainty about Russia’s commitment to deep oil production cuts in the lead-up to a June 9 meeting of the Organisation of the Petroleum Exporting Countries...

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COVID-19: Intervention-Loan Repayment Suspended for One Year – CBN

CoronavirusEconomyNewsNigeriaCOVID-19: Intervention-Loan Repayment Suspended for One Year – CBN

Bada Yusuf Amoo (Correspondent)May 28, 2020

The Central Bank of Nigeria has announced that it is giving a one-year moratorium on all principal repayments for COVID-19 intervention loans. This is done through its participating Other Financial Institutions (OFIs) taking effect from March 1, 2020. This was made known on Wednesday, in a circular signed by the Director, Finance Police, and Regulation Department, Kelvin Amugo. The circular also stated that as part of the continued efforts of the apex bank to mitigate...

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