Gov. Obiano begins payment of N30,000 new minimum wage in January

JobsNewsNigeriaGov. Obiano begins payment of N30,000 new minimum wage in January

PilotnewsJanuary 24, 2020

Anambra State Government says it has concluded arrangements to pay N30, 000 as the new minimum wage for workers in the state beginning from January, 2020. The decision was arrived at after series of meetings and discussions between the state government and Joint Public Service Negotiating Council (JNC) on the payment of new minimum wage to public sector workers on Friday. The Secretary to the State Government, Prof. Solo Chukwulobelu, told newsmen after the meeting...

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Gov. Obiano restates commitment to Anambra Airport road project

EconomyNewsNigeriaGov. Obiano restates commitment to Anambra Airport road project

PilotnewsJanuary 24, 2020

Gov. Willie Obiano of Anambra has restated his commitment to the construction of roads leading to the proposed Anambra Airport  at Umueri, Anambra East Local Government Area. Obiano gave the assurance on Friday when he inspected the dual-carriage road leading to the airport from Nteje in Oyi Local Government Area. While commending the level of work, Obiano, who was accompanied by the Commissioner for Works, Mr Marcel Ivejiofor, commended Kanubeen Construction Company Ltd handling the...

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Foreign Reserves: CBN not contemplating devaluation of currency

EconomyNewsNigeriaForeign Reserves: CBN not contemplating devaluation of currency

PilotnewsJanuary 24, 2020

The Governor of Central Bank of Nigeria (CBN), Mr Godwin Emefiele, says the bank is not contemplating devaluation of currency following the drop in the country’s foreign reserves. Emefiele stated this while fielding questions from journalists after the Monetary Policy Committee (MPC) first meeting in 2020 held in Abuja on Friday. He said though, the drop in the Foreign Reserves was noticeable but the apex bank would not make any currency adjustments because of this...

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Nigeria music revenue to hit $86m in 2021 – Lai Mohammed

EntertainmentMoneyNigeriaNigeria music revenue to hit $86m in 2021 – Lai Mohammed

PilotnewsJanuary 24, 2020

The Minister of Information and Culture, Alhaji Lai Mohammed says Nigeria music revenue is projected to hit 86 million dollar (about N3.096 billion) in 2021, making it the biggest in Africa. The minister gave the projection on Thursday in Madrid, Spain at the 11th edition of the Tourism Investment and Business Forum for Africa (Investour) organised by the United Nations World Tourism Organisation (UNWTO) and CASA Africa. News Agency of Nigeria (NAN) reports the forum is on...

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Industrial Internet of Things with Oil, Gas, and Energy (OGE) in mind

BusinessColumnsTechnologyIndustrial Internet of Things with Oil, Gas, and Energy (OGE) in mind

PilotnewsJanuary 23, 2020

By way of definition, Industrial Internet of Things (IIoT) is an extension of the internet and other connection protocols to devices or “things” while affording them a higher degree of computing and analytical capabilities. The Internet of Things (IoT), artificial intelligence and big data will make people more aware of their world. As a direct consequence, the Industrial Internet of Things (IIoT) will begin to see widespread adoption in the services sectors of the Oil...

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African Development Bank approves $20 million investment in renewable energy fund for Sub-Saharan Africa

AfricaBusinessInvestingAfrican Development Bank approves $20 million investment in renewable energy fund for Sub-Saharan Africa

PilotnewsJanuary 21, 2020

The Board of Directors of the African Development Bank has approved a $20 million investment in the Metier Sustainable Capital International Fund II, which channels funds to renewable energy and resource-efficient infrastructure projects across Sub-Saharan Africa. The Bank’s funding will contribute to production of an additional 178.5 megawatts of renewable power for commercial and residential use. It will also create opportunities for industrial waste water treatment and waste-to-energy generation. The Fund will meet the Bank’s strict environment...

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PEG Africa raises $5 million for expansion in West Africa

AfricaBusinessInvestingRegionsPEG Africa raises $5 million for expansion in West Africa

PilotnewsJanuary 21, 2020

PEG Africa, a pay-as-you-go solar company based in West Africa, has recently raised $5 million from ElectriFI in order to continue its expansion in existing markets. PEG Africa finances and deploys solar energy to SMEs and households in West Africa. PEG Africa, via its PAYG financial model, allows customers to replace their spending on substandard-quality polluting fuels like kerosene and diesel with solar energy. PEG Africa currently serves 400,000 daily users in Côte d’Ivoire, Senegal and...

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How to leverage the Africa-China relationship for growth

AfricaBusinessMoneyHow to leverage the Africa-China relationship for growth

PilotnewsJanuary 21, 2020

Africa is the world’s youngest continent. That’s a double-edged sword. Though a young population is the backbone of the economy, without education and jobs, it inevitably leads to instability. As our relationship with China deepens, we can draw some lessons from that country’s experience of educating its young people. One of China’s great success stories is poverty alleviation. A staggering 850 million people have been lifted out of extreme poverty, a feat never before seen...

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Nigeria: how fake representatives of a Qatari sovereign wealth fund fooled oil explorer Lekoil

BusinessMoneyNigeria: how fake representatives of a Qatari sovereign wealth fund fooled oil explorer Lekoil

PilotnewsJanuary 19, 2020

A fraudulent loan and a bogus consultancy firm have put a damper on Nigerian oil producer Lekoil which, since it discovered and announced the fraudulent nature of an $184m loan arrangement with the Qatar Investment Authority, has suffered heavy losses on the London Stock Exchange, where its market cap fell £35m ($45.6m) in less than a week. Lekoil Limited shares plummeted more than 70% on 14 January on London’s Alternative Investment Market (AIM), with shares...

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