Senate Approves 3% of Oil Revenue To Host Communities As It Passes Petroleum Industry Bill

BusinessOil & GasPoliticsSenate Approves 3% of Oil Revenue To Host Communities As It Passes Petroleum Industry Bill

PilotnewsJuly 2, 2021

The Senate on Thursday passed the Petroleum Industry Bill (PIB) and approved 3 percent for the host communities. The red chamber passed the PIB, 2021 after the clause by clause consideration for the report of its joint committee on Petroleum (Upstream, Downstream, and Gas) on PIB. With neglect to the protests from the South-South lawmakers, who were advocating for 5 percent, the Senate approved three percent for the host communities. The Senate had before then...

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Senate Approves N74.7bn Budget for Police Trust Fund

JobsPoliceSenate Approves N74.7bn Budget for Police Trust Fund

Bada Yusuf Amoo (Correspondent)June 30, 2021

ABUJA — The Nigeria Senate has approved the total of N74,773,916 billion as the 2021 budget for the Nigeria Police Trust Fund. The Senate made the approval after the consideration of a report by the Joint Committee of the Senate and the House of Representatives on Police Affairs during plenary on Wednesday. The Chairman of the Senate Committee on Police Affairs, Dauda Halliru Jika, a member of the All Progressives Congress (APC), Bauchi Central, in...

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Buhari Directs NNPC to Acquire 20% Stake in Dangote Refinery, Others

BusinessOil & GasBuhari Directs NNPC to Acquire 20% Stake in Dangote Refinery, Others

Bada Yusuf Amoo (Correspondent)June 29, 2021

ABUJA — As part of efforts to attract investment, President Muhammadu Buhari has authorized the Nigerian National Petroleum Corporation (NNPC) to acquire a 20 percent stake in any private refinery producing at least 50,000 barrels per day. It was further revealed that the NNPC will soon get a 20 percent stake in the $19.5 billion Dangote Refinery in Lagos. It has the capacity of producing 650,000 barrels per day. A source in the NNPC revealed...

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Anti-open Grazing Bill is a Progressive Idea – Ortom

BusinessPoliticsAnti-open Grazing Bill is a Progressive Idea – Ortom

Beloved John (Staff Writer)June 28, 2021

Samuel Ortom, Benue governor, has described the anti-open grazing bill as a progressive idea practiced globally. Debunking the opinion that the state government is aggrieved with the Falanis, Ortom pledged to provide lands for herders that are willing to work within the state through ranching. The governor made his pledge while speaking at the 72nd birthday of Prof. Iyorwuese Hagher, former Nigerian Ambassador to Mexico. Ortom, represented by Dennis Ityavyar, the education commissioner, said the...

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Why Fuel Subsidy Must Be Removed — Sylva

BusinessOil & GasWhy Fuel Subsidy Must Be Removed — Sylva

Beloved John (Staff Writer)June 27, 2021

ABUJA — Timipre Sylva, Minister of State for Petroleum Resources has said the deregulation of the downstream sector is in Nigeria’s best interests. The minister who spoke on Sunday, at a forum hosted by the News Agency of Nigeria  (NAN) in Abuja called for the deregulation of petroleum through market-driven pricing of products to boost the country’s economy. He noted that the removal of fuel subsidy is a rational move that will be beneficial to...

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Meet Udezue, NBA Agent Who Move To Unify Africa through the Continental Basketball League

BusinessEntertainmentSportsMeet Udezue, NBA Agent Who Move To Unify Africa through the Continental Basketball League

Bada Yusuf Amoo (Correspondent)June 25, 2021

Ugo Udezue, who left Nigeria in the 1990s, left his plush job as an agent of the National Basketball Association (NBA) at one of the top firms in the United States four years ago. He would not have imagined pioneering the first and only African sports apparel company to officially outfit a team at the Olympic Games in Japan this year. At least, this was far from his initial plan. It would have been easier...

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Osinbajo Urges MSMEs to Improve Their Performance Using Technology

EconomyTechnologyOsinbajo Urges MSMEs to Improve Their Performance Using Technology

Bada Yusuf Amoo (Correspondent)June 25, 2021

ABUJA — Vice President Yemi Osinbajo says there is a need for Micro Small and Medium Enterprises (MSMEs) to leverage technology to improve their performances. Osinbajo made this call while featuring at the National MSMEs Discourse, titled ‘’Little Beginning, Huge Impact,’’ on Thursday in Abuja. The vice president was represented by the Minister of Industry, Trade, and Investment, Niyi Adebayo, at the discourse which is part of the National MSMEs week. Osinbajo said he was...

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OPINION: What Igbo Political Leaders Must Do Now

EconomyOpinionPoliticsOPINION: What Igbo Political Leaders Must Do Now

Ebuka Onyekwelu (Staff Writer)June 24, 2021

For almost two months, the Southeast geo-political zone, which used to be the safest zone in Nigeria, was suddenly engulfed by a distressing security situation that speedily degenerated. Worst is the guerrilla style with which the attacks were coordinated. What started as an attack on security formations around the zone by “unknown gunmen” quickly gained momentum and escalated with more police stations attacked, destroyed, officers killed, and their weapons taken. Thus creating a frightening circle...

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LASG Partners IFC On Green Building, Trains Construction Professionals

BusinessEconomyLASG Partners IFC On Green Building, Trains Construction Professionals

PilotnewsJune 23, 2021

LAGOS — The Lagos State Government in collaboration with International Finance Corporation (IFC), a World Bank Institution has trained environment professionals in its payroll on the Green Building initiative. A statement signed by Mr. Mukaila Sanusi, Spokesman of the Lagos State Ministry of Physical Planning and Urban Development on Wednesday in Lagos said the training is tagged “Lagos State-IFC Excellence in Design for Greater Efficiency (EDGE). Sanusi said the workshop was held at the Sheraton...

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Africa’s Energy Deficit May Thwart Attainment of SDG-7 On Electricity Access, Says ECA

AfricaEconomyAfrica’s Energy Deficit May Thwart Attainment of SDG-7 On Electricity Access, Says ECA

PilotnewsJune 23, 2021

LAGOS — Achieving the UN Sustainable Development Goal-7 may elude Africa, due to limited supply and access to electricity, says Ms. Vera Songwe, the United Nations under-secretary-general and Executive Secretary of the Economic Commission for Africa (ECA).  Songwe stated this in her presentation at a virtual ministerial meeting in Addis Ababa, according to a statement on Wednesday by the Communication Section of the ECA. The News Agency of Nigeria recalled that the SDG-7 is one...

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