Global Oil Price: NSE Market Capitalisation Loses N152bn

InvestingNewsNigeriaGlobal Oil Price: NSE Market Capitalisation Loses N152bn

PilotnewsApril 21, 2020

The Nigerian Stock Exchange (NSE) market capitalisation on Tuesday inched lower by N152 billion, amid sell pressure in 27 stocks. Specifically, the market capitalisation which opened at N11.945 trillion lost N152 billion or 1.27 per cent to close at N11.794 trillion. Also, the All-Share Index (ASI) dipped 290.49 points or 1.27 per cent to close at 22,629.92 compared with 22,920.41 on Monday. The downturn was impacted by losses recorded in medium and large capitalised stocks,...

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The Lagos Revenue Plan Threatened by COVID-19

CoronavirusEconomyNigeriaThe Lagos Revenue Plan Threatened by COVID-19

Adeola Oladipupo (Correspondent)April 21, 2020

In January, the Commissioner for Economic Planning and Budget in Lagos, Mr. Sam Egube, during the 2020 budget analysis, announced a grand ambition to increase the state’s monthly internally generated revenue (IGR) from about 35 billion to 73.8 billion Naira. The internal revenue goal which comes to about N866 billion for the year is expected to partly finance the N1.168 trillion budget the legislature had passed in 2019, which allocated more funds to education and...

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How Citizens Ignore Lockdown Directive, “Creep” Into Ilesha Central Market

BusinessCoronavirusNigeriaHow Citizens Ignore Lockdown Directive, “Creep” Into Ilesha Central Market

Beloved John (Staff Writer)April 21, 2020

Akinyemi Sunday sells clothes. He mainly trades male items of clothing at Ilesha central market within Osun state. Akinyemi’s daily earnings mean the most to himself and his family. He reaches for the market every day despite the curfew. He believes the stay-at-home order is unnecessary and would do the masses little or no good. West African Pilot visited his stall, as well as many others. He looked tensed and agitated. He had been running...

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FBN Holdings Gross Earnings Hits N159.7bn in Q1 2020

BusinessNewsNigeriaFBN Holdings Gross Earnings Hits N159.7bn in Q1 2020

PilotnewsApril 21, 2020

FBN Holdings Plc. on Monday announced gross earnings of N159.7 billion for the three months ended March 31, 2020. The gross earnings represented a growth of 14.5 per cent when compared with N139.4 billion achieved in the corresponding period of 2019. The company’s unaudited results released by the Nigerian Stock Exchange (NSE) indicated a  profit before tax of N28.7 billion against N17.8 billion in March 2019. Profit after tax stood at ₦25.7 billion in contrast...

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Google Proposes Five Channels for Home Fitness

AfricaBusinessTechnologyGoogle Proposes Five Channels for Home Fitness

PilotnewsApril 20, 2020

Google on Monday proposed five channels to help gym, a home fitness routine, so as not to miss out on regular work out during the lockdown. Mr. Taiwo Kola-Ogunlade, Communication Officer, West Africa said in Lagos that it was easy to start missing out on regular routine being cooped up at home and looking after kids. Kola-Ogunlade in a statement noted that turning a gym routine into a home routine is not as hard as...

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Covid – 19: Offer 2 Months Free Rent to Tenants, Activist Urges Landlords

CoronavirusEconomyNigeriaCovid – 19: Offer 2 Months Free Rent to Tenants, Activist Urges Landlords

PilotnewsApril 20, 2020

An activist, Hajiya Ramatu Tijjani, has urged landlords to offer two months free rent to their tenants in view of the crash of businesses due to the lockdown over COVID-19 pandemic. Tijjani made the call in an interview with the News Agency of Nigeria (NAN) on Monday in Kaduna. She said majority of Nigerians are finding it difficult to feed as their businesses have virtually collapsed due to the lockdown. “It is the right time...

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BREAKING: U.S. Crude Oil Nosedives, Touches Lowest Price in 3 Decades

BusinessUnited StatesBREAKING: U.S. Crude Oil Nosedives, Touches Lowest Price in 3 Decades

PilotnewsApril 20, 2020

United States crude oil prices fell sharply, plummeting to their lowest levels since 1986, as a collapse in demand because of the coronavirus and the resulting economic shutdowns come atop shortages in storage capacity. West Texas Intermediate, the U.S. benchmark, dropped to nearly 10 dollars a barrel, a 45-per-cent decline, before ticking up a couple of percentage points. However, longer-term contracts were faring somewhat better, while still down on the day, signalling optimism that economic...

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BREAKING: Nigerian Oil Union Suspends Industrial Action After Exxon Mobil Workers Freed

EconomyLabourNigeriaBREAKING: Nigerian Oil Union Suspends Industrial Action After Exxon Mobil Workers Freed

PilotnewsApril 19, 2020

YENAGOA, Nigeria  – A major Nigerian oil union has suspended planned industrial action after 21 Exxon Mobil Corp. employees quarantined last week after their arrest for violating coronavirus-related movement restrictions were freed, it said on Sunday. He said 22 workers, whose coronavirus status was unknown, were quarantined in line with relevant health protocols and would be charged in court. But Wike’s spokesman, Simeon Nwakaudu, on Sunday issued a statement that said the workers were all...

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A New Nigerian VC is Trying to Democratize Startup Funding for Everyday Investors

AfricaBusinessNewsA New Nigerian VC is Trying to Democratize Startup Funding for Everyday Investors

PilotnewsApril 19, 2020

The subject of funding is nearly always top of mind in Nigerian startup and venture spaces. But while founders and startups looking to raise funding have typically had to look to the US and Europe for venture capital, there’s an increasing number of options back home. The latest addition to that growing list is the Future Africa Collective, launched by Iyin Aboyeji, who made his name as a early co-founder of Andela and then Flutterwave....

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Black Clergy Memorialize the Dead, Ask Government to Address Disparities

CoronavirusEconomyUnited StatesBlack Clergy Memorialize the Dead, Ask Government to Address Disparities

PilotnewsApril 18, 2020

The Rev. Frank Williams has been so busy leading two black churches in the New York borough of the Bronx that he hadn’t really considered the full extent of COVID-19’s impact on his congregation, his family and his community. But when asked, the Southern Baptist pastor of two churches, each with more than 200 members, realized after four weeks the list was long: The Saturday before Easter, a beloved deacon — a decades-long friend who...

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