BREAKING: COVID-19: No Increase in Electricity Tariff Now — Minister

CoronavirusEconomyBREAKING: COVID-19: No Increase in Electricity Tariff Now — Minister

PilotnewsMarch 31, 2020

The Nigerian Electricity Regulatory Commission (NERC) says there will be a 3-month delay in the implementation of any electricity tariff. Minister of Power, Mr. Sale Mamman made this known in a statement in Abuja on Tuesday. Mamman said that the delay in the implementation of the tariff was one of several critical actions that the administration was taking to ensure citizens have power supply in this difficult time. He said that the 3-month delay in...

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COVID-19: Jigawa Govt. Suspends Weekly Markets

CoronavirusEconomyNigeriaCOVID-19: Jigawa Govt. Suspends Weekly Markets

PilotnewsMarch 31, 2020

The Jigawa Commissioner for Health, Dr Abba Zakari, on Monday suspended all weekly markets in the state as part of measures to curb the spread of Coronavirus. Zakari, who said this while briefing newsmen on COVID-19 in Dutse, added that such markets were suspended in all the 27 local government areas of the state. According to him, the suspension is part of the precautionary measures to prevent the spread of the global COVID-19 pandemic in...

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COVID-19: Travel Ban, Movement Restrictions Exacerbates Poverty in Nigeria

CoronavirusEconomyNigeriaCOVID-19: Travel Ban, Movement Restrictions Exacerbates Poverty in Nigeria

Beloved John (Staff Writer)March 31, 2020

The continuous drop of oil price in the global market alongside the rapid rise of COVID-19 Virus would definitely take a heavy toll on the country’s economy. This has been a major source of concern to many Nigerians especially with the absence of reassuring words from the federal government. The outbreak of the virus has resulted in the closure of factories in China, one of Nigeria’s largest trading partners, and a reduction in imports, global...

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Oil Hits 18-year Low as Lockdowns Diminish Demand

CoronavirusEconomyNigeriaOil Hits 18-year Low as Lockdowns Diminish Demand

PilotnewsMarch 30, 2020

(Reuters/NAN) Crude oil fell sharply on Monday with U.S. crude briefly dropping below 20 dollars and Brent hitting its lowest level in 18 years on heightened fears that the global coronavirus shutdown could last months and demand for fuel could evaporate further. U.S. West Texas Intermediate (WTI) crude fell 1.14 dollars or 5.3 per cent to 20.37 per cent. “The price of oil is now so low that it is becoming unprofitable to many oil...

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CoronavirusEconomyNigeriaCOVID-19: Buhari Suspends Loan Repayment for TraderMoni and Other FG Loans for 3 months

Adeola Oladipupo (Correspondent)March 29, 2020

The Federal Government has suspended the repayment of loans for three months as part of measures to cushion the impact of COVID-19 outbreak on the economy and businesses in the country. Reading out the measures his government is taking to address the coronavirus pandemic which has affected global business and has affected 97 persons across the country, President Buhari in a national broadcast on Sunday evening said repayment of loans collected under TraderMoni, MarketMoni, and...

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Famously Boisterous Nigerian Mega-City Lagos Adjusts to Coronavirus Lockdown

CoronavirusEconomyNigeriaFamously Boisterous Nigerian Mega-City Lagos Adjusts to Coronavirus Lockdown

PilotnewsMarch 29, 2020

LAGOS (Reuters) – Fear of the coronavirus has induced an extraordinary calm in Lagos, Nigeria’s famously boisterous mega-city where streets known for miles of gridlock have emptied of traffic and eateries serving takeaways are almost the only shops open. The largest city in sub-Saharan Africa, with an estimated 20 million population, has been transformed by a week-long shutdown of public life imposed as part of efforts to stem the spread of the highly infectious disease in Nigeria....

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COVID-19: Presidency Refutes Report on N30,000 Relief Package

CoronavirusEconomyNigeriaCOVID-19: Presidency Refutes Report on N30,000 Relief Package

PilotnewsMarch 28, 2020

The Presidency has dismissed reports that President Muhammadu Buhari has approved N30,000 relief package to be given to every Nigerian with a verified Bank Verification Number (BVN) to cushion hardships occasioned by Coronavirus. News Agency of Nigeria (NAN) reports that the President’s Special Adviser on Media and Publicity, Mr Femi Adesina, was quoted by an online media outfit to have announced the presidential approval of the N30,000 package in a statement. ”The President announced the...

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COVID-19: President Buhari Salutes Elumelu, Rabiu, Dangote, Atiku, others for Contributions

BusinessCoronavirusNewsCOVID-19: President Buhari Salutes Elumelu, Rabiu, Dangote, Atiku, others for Contributions

PilotnewsMarch 28, 2020

President Muhammadu Buhari has saluted public-spirited Nigerians and organisations for standing up to be counted in the battle against the Covid-19 pandemic. The President, in a statement by his spokesman, Mr Femi Adesina, in Abuja on Friday, commended members of the Nigerian Private Sector Coalition Against Covid-19. He lauded the members of the Coalition, namely; Aliko Dangote, Abdulsamad Rabiu of BUA Group, Femi Otedola, Tony Elumelu, Herbert Wigwe, Segun Agbaje and Jim Ovia of UBA,...

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Covid-19: Dana Air Offers FG resources, Aircraft to Transport Relief Materials

BusinessCoronavirusNewsCovid-19: Dana Air Offers FG resources, Aircraft to Transport Relief Materials

PilotnewsMarch 27, 2020

Dana Air has offered its resources, aircraft, and crew to assist the Federal Government’s efforts towards curbing the further spread of Covid-19 in the country. Mr Kingsley Ezenwa, Media and Communications Manager of Dana airlines made this known in a statement in Lagos on Friday. Ezenwa said in a letter to Minister of Aviation, Sen. Hadi Sirika, Dana air expressed support to contribute in the transportation of machines, equipments and relief materials to different states,...

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COVID-19: Commercial Banks Limit Number of Customers to Reduce Human Contact in Enugu

BusinessCoronavirusCOVID-19: Commercial Banks Limit Number of Customers to Reduce Human Contact in Enugu

PilotnewsMarch 26, 2020

Commercial banks in Enugu have taken precautionary measures against corona virus infection by limiting the number of customers into the banking hall to five at a time to reduce human contact. News Agency of Nigeria (NAN) correspondent who monitored the situations on Thursday, observed that many customers were outside the banking hall as few numbers were allowed to go into the bank at a time for their transactions. A bank staff, who spoke on condition...

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