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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Adamawa Govt Declares Councillor Wanted Over Cattle Rustling

BusinessCrime & SecurityNewsNigeriaAdamawa Govt Declares Councillor Wanted Over Cattle Rustling

PilotnewsMay 14, 2020

The Adamawa Government has declared Mr Makana Enan Ngari, councillor, representing Vulpi Ward, in Numan Local Government Area (LGA) of the state wanted over alleged cattle rustling. This was contained in a statement by Mr Humwashi Wonosikou, Press Secretary to Gov. Ahmadu Fintiri on Wednesday in Yola. He said that the councillor was allegedly involved in illegal and criminal deals of cattle rustling which was contrary to his oath of office. Wonosikou said that the...

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Volkswagen to Resume Production at U.S. Plant in Tennessee

EconomyNewsUnited StatesVolkswagen to Resume Production at U.S. Plant in Tennessee

PilotnewsMay 14, 2020

German carmaker Volkswagen plans to resume production at its plant in the U.S. state of Tennessee, it said in a statement Wednesday.  The company said it has implemented more than 90 new health and safety measures ahead of a gradual ramp-up of operations starting on May 17. Some 3,800 Volkswagen employees at the plant have not worked since it suspended operations on March 21 due to the COVID-19 pandemic. Safety precautions include mandatory temperature checks...

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US to Get Covid-19 Vaccine First – French Drug Maker

CoronavirusInvestingWorld NewsUS to Get Covid-19 Vaccine First – French Drug Maker

Adeola Oladipupo (Correspondent)May 14, 2020

Sanofi, the French pharmaceutical giant, says the United States would get its COVID-19 vaccine first before other countries if it succeeds in developing it. Paul Hudson, Sanofi’s Chief Executive Officer, told Bloomberg news that the US was the first in line to fund Sanofi’s vaccine research. “The US government has the right to the largest pre-order because it’s invested in taking the risk. I have been campaigning in Europe to say the US will get...

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FG not Encouraging Production of COVID-19 Drugs – Nigerian Pharmacists

CoronavirusInvestingNewsNigeriaFG not Encouraging Production of COVID-19 Drugs – Nigerian Pharmacists

Bada Yusuf Amoo (Correspondent)May 14, 2020

The Nigerian pharmacists under the umbrella of the Pharmaceutical Society of Nigeria (PSN) had accused the Federal Government and the National Agency for Food and Drug Administration and Control for not doing the right thing over the search for cures of COVID-19 in Nigeria. The Secretary-General of the PSN, Emeka Duru, on Wednesday in an interview with Punch stated the National Institute for Pharmaceutical Research and Development had several relevant drugs waiting to be developed....

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FEC Approves 1.2bn Euros Loan for Agric Mechanisation

EconomyFoodNewsNigeriaFEC Approves 1.2bn Euros Loan for Agric Mechanisation

PilotnewsMay 13, 2020

The Federal Executive Council (FEC) has approved a loan facility of 1.2 billion dollars to finance the mechanisation of agriculture in the country. Mr. Sabo Nanono, the Minister of Agriculture and Rural Development, disclosed this on Wednesday while briefing State House correspondents after the virtual FEC  meeting anchored from the Council Chamber of the Presidential Villa, Abuja. The virtual meeting was presided over by President Muhammadu Buhari. The online  FEC was in line with Nigeria...

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Correctional Service to Establish Shoe, Garment Factories

EconomyNewsNigeriaCorrectional Service to Establish Shoe, Garment Factories

PilotnewsMay 13, 2020

The Nigeria Correctional Service (NCoS) has concluded plans to establish shoe, garment and leather factories in Abia and Kano states through a Public-Private Partnership (PPP). Chidi Izuwah, Director General, Infrastructure Concession Regulatory Commission (ICRC), said this during the presentation of certificate for the production of shoes, garments and leather factories. The News Agency of Nigeria (NAN) reports that the proposed PPP arrangement was between the NCoS and Erojim Investment Limited (a local company), and its...

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