SPECIAL REPORT: Bar Owners Suffer Losses As Coronavirus Abates Nightlife

BusinessCoronavirusNewsNigeriaSpecial ReportSPECIAL REPORT: Bar Owners Suffer Losses As Coronavirus Abates Nightlife

Beloved John (Staff Writer)May 19, 2020

It is past 5, Wednesday evening, and Club 7 — a club and outdoor bar is still as empty as Jacob’s kettle. From a distance, one would think the club was closed for the day considering that the curfew was night time.  The rooms looked pale, the tiles were bare. R&B songs were playing,  underlyingly into the atmosphere as though it’s high tunes can attract the deadly virus. The outbreak of Covid-19 had turned a...

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Members of Abacha’s Government Knew About the Money Stashed Abroad – Buba Galadima

Law & JusticeMoneyNewsNigeriaMembers of Abacha’s Government Knew About the Money Stashed Abroad – Buba Galadima

Adeola Oladipupo (Correspondent)May 18, 2020

Buba Galadima, a Nigerian politician, has said that key members of the late General Sani Abacha’s government knew about the money the dictator stashed abroad. Mr. Galadima, a former ally – turned critic — of President Buhari revealed this in an interview with the Nation newspaper. He said the late Gen. Abacha was ‘rightly’ counselled by then Presidents Saddam Hussein and Muammar Gaddafi, to keep money abroad in order to survive sanctions by the United...

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Liberia’s Largest Palm Oil Project Lays Off 10% of Workforce

AfricaCoronavirusEconomyNewsLiberia’s Largest Palm Oil Project Lays Off 10% of Workforce

PilotnewsMay 17, 2020

MONVROVIA – Liberia’s largest palm oil company, Golden Veroleum, has laid off 443 employees, more than 10% of its workforce, due to persistently low prices and the economic fallout from the coronavirus pandemic, a company spokesman said on Saturday. Golden Veroleum is owned by the U.S.-based Verdant Fund LP, whose sole investor is Singapore-listed palm oil giant Golden Agri-Resources (GAGR.SI), the world’s second-largest palm oil plantation company. Golden Veroleum spokesman Alphonso Kofi told Reuters that the...

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COVID-19 Fallout: Osinbajo Highlights FG’s Palliative for MSMEs

CoronavirusEconomyNewsNigeriaCOVID-19 Fallout: Osinbajo Highlights FG’s Palliative for MSMEs

PilotnewsMay 16, 2020

Vice President Yemi Osinbajo, says the Federal Government has set up palliatives to assist Micro Small and Medium Enterprises(MSMEs) survive the economic fallout of the COVID-19 pandemic. The vice president said that the palliatives reflected the President Muhammadu Buhari administration’s determination to support MSMEs and the priority the Federal Government placed on small businesses. Osinbajo’s spokesman, Laolu Akande, in a statement, said the vice president performed the virtual launch of palliatives for MSMEs by the...

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Taraba NECAS Gets 30 Tractors Out of 600 Shares in the Northeast

BusinessFoodNewsNigeriaTaraba NECAS Gets 30 Tractors Out of 600 Shares in the Northeast

Ibrahim Abdul' Aziz (Correspondent)May 16, 20201

The North-East Commodity Association (NECAS), in Taraba State, has distributed 30 new tractors for this year’s agriculture to the Association’s 16 LG Chairmen. Chief of Policy Mechanisation, Engr. Sulaiman D. Sulaiman, who disclosed this during distribution exercise in Jalingo, said the tractors would be used for commercial purposes at a subsidizing rate for farmers to ease the misery they face in the state. He said that more than two thousand people, including women and youth,...

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FAAC: FG, States, LGs Share N606.196bn for April

MoneyNigeriaPoliticsFAAC: FG, States, LGs Share N606.196bn for April

PilotnewsMay 15, 2020

The Federation Accounts Allocation Committee (FAAC) has shared N606.196 billion to the three tiers of government for the month of April. Mr. Hassan Dodo, Director of Information in the Ministry of Finance, Budget and National Planning, made this known in a statement in Abuja on Friday. Dodo said the meeting, which held by virtual, was chaired by Dr Mahmoud Isa-Dutse, the Permanent Secretary in the ministry. He said the amount shared included Value Added Tax...

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Ekiti Crashes Right of Way Charges on Telecoms Infrastructure

EconomyInfrastructureNigeriaEkiti Crashes Right of Way Charges on Telecoms Infrastructure

Adeola Oladipupo (Correspondent)May 15, 2020

Ekiti has become the first state in Nigeria to comply with the National Executive Council approved the right of way charges related to telecommunications infrastructure. Governor Kayode Fayemi, in an executive order, crashed the right of way charges on telecommunications infrastructure by N4,355 from N4,500 to N145. “The right of way charges related to the laying of broadband or any other telecommunications infrastructure in Ekiti State shall not exceed One Hundred and Forty-Five Naira (N145)...

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Coronavirus’ Economic Impact Could Hit $8.8tln, Says Asian Devt. Bank

CoronavirusEconomyWorld NewsCoronavirus’ Economic Impact Could Hit $8.8tln, Says Asian Devt. Bank

PilotnewsMay 15, 2020

Global economic losses from the coronavirus pandemic could reach up to 8.8 trillion dollars, or nearly 10 per cent of the world economy’s output, the Asian Development Bank (ADB) said on Friday.  The Manila-based bank said the forecast for the pandemic’s impact under a long containment period of six months was more than double its assessments in March and April, as well as the projections by the World Bank and the International Monetary Fund. Under...

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UN Rights Chief Urges Caution in Lifting of COVID-19 Lockdowns

CoronavirusEconomyWorld NewsUN Rights Chief Urges Caution in Lifting of COVID-19 Lockdowns

PilotnewsMay 15, 2020

The UN Human Rights High Commissioner, Ms. Michelle Bachelet, has called for caution as more countries move to lift  COVID-19 lockdowns imposed to contain the spread of the coronavirus. Bachelet, a former medical doctor, Minister of Health, and President of Chile, gave the advice while speaking to newsmen from Geneva on Thursday. She warned of potential risks, including the “danger of a second wave” that could cost many more lives if countries lift restrictions without adequate...

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COVID-19: FEC approves amendments of 2020/2022 Medium Term Expenditure, 2020 budget

EconomyNewsNigeriaCOVID-19: FEC approves amendments of 2020/2022 Medium Term Expenditure, 2020 budget

PilotnewsMay 14, 2020

The Federal Executive Council (FEC), presided over by President Muhammadu Buhari, on Wednesday in Abuja approved the amendment of the Medium Term Expenditure Framework of 2020 to 2022 as well as amendment to the 2020 budget. The Minister of Finance, Budget and National Planning, Hajiya Zainab Ahmed, made this known at the end of the virtual session of the Federal Executive Council (FEC), held at the Council’s Chamber of the Presidential Villa, Abuja, President Buhari...

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