Power Supply: CHRSJ to Lead Community Campaign Against IKEDC

BusinessNewsPowerPower Supply: CHRSJ to Lead Community Campaign Against IKEDC

PilotnewsMarch 18, 2021

A human rights organization, the Centre for Human Rights and Social Justice (CHRSJ) has concluded arrangement to lead the Lagos and Ogun State Communities on the campaign against the Ikeja Electricity Distribution Company (IKEDC) over non-restore of electricity back to some communities in the two States for a period of time now. They have also reiterated in the campaign that some offices of the IKEDC would be picketed after the expiration of 21- day ultimatum...

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FG Approves $1.5bn For the Renovation of Port Harcourt Refinery

EconomyNewsNigeriaOil & GasFG Approves $1.5bn For the Renovation of Port Harcourt Refinery

Bada Yusuf Amoo (Correspondent)March 18, 2021

On Wednesday, the Federal Executive Council approved the plan by the Ministry of Petroleum Resources to rehabilitate the country’s 210,000-barrel-a day Port Harcourt refinery with $1.5bn. The decision was taken at the weekly meeting of the council presided over by President Muhammadu Buhari. This was disclosed by the Minister of State for Petroleum Resources, Timipre Sylva, to the state House correspondents at the end of the meeting at the Presidential Villa in Abuja. The minister...

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Nigeria Accrued N32.915tn Public Debt in 2020

EconomyNewsNigeriaNigeria Accrued N32.915tn Public Debt in 2020

Beloved John (Staff Writer)March 17, 2021

Nigeria’s Total Public Debt rose significantly in 2020 after declining steadily for three years since 2017 according to the national Debt Management Office (DMO). As at last December, the total debt which is a combination of both the federal and state government stock stood at N32.915 trillion. This information was disclosed in a press release published on its website on Tuesday. Nigeria’s Total Public Debt as at December 31, 2020 was N32.915 Trillion. The figures...

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Amid Economic Hardship, CBN Introduces N7 Fee For USSD Transaction

BusinessEconomyNewsAmid Economic Hardship, CBN Introduces N7 Fee For USSD Transaction

Beloved John (Staff Writer)March 16, 2021

Despite the country’s growing inflation and unemployment rate, the Central Bank of Nigeria has introduced a flat fee of N6.98 per transaction for every Unstructured Supplementary Service Data (USSD) service. This implies that for every time a consumer uses a USSD service, a flat fee of N6.98 will be deducted. In a statement, jointly signed by the apex bank’s acting director of corporate communications Osita Nwanisobi and director of public affairs at the Nigerian Communications...

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DPR Seals Filling Stations In Kwara State For Over-pricing, Under-dispensing

BusinessNewsNigeriaOil & GasDPR Seals Filling Stations In Kwara State For Over-pricing, Under-dispensing

Hassan Umar Shallpella (Regional Correspondent)March 16, 2021

The Department of Petroleum Resources (DPR), on Tuesday, in Ilorin, sealed up five filling stations for various offences including over-pricing and under-dispensing. The development was the result of the monitoring exercise of over 35 filling stations across the metropolis. Speaking with journalists shortly after the exercise, the controller, Ilorin field office of the DPR, Engineer Sule Yusuf, said there was no fuel scarcity or plan to increase fuel price in the country. “We observed that...

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Central Bank of Nigeria Introduced New Charges For USSD Services

EconomyMoneyNewsCentral Bank of Nigeria Introduced New Charges For USSD Services

Hassan Umar Shallpella (Regional Correspondent)March 16, 2021

ABUJA — The Central Bank of Nigeria (CBN) has introduced new charges for customers using the Unstructured Supplementary Service Data (USSD) services. The apex bank has announced that from Tuesday, customers will pay N6.98 per transaction every time they use USSD services. This was contained in a statement jointly signed by CBN’s Acting Director, Corporate Communications, Osita Nwanisobi, and Director, Public Affairs, Nigerian Communications Commission (NCC), Ikechukwu Adinde. The statement read in part “Effective March...

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The Concerned Enugu Youths Protest Against The Ex-Governors Pension Bill, Calls It A Scam

MoneyNewsPoliticsThe Concerned Enugu Youths Protest Against The Ex-Governors Pension Bill, Calls It A Scam

Ije Ulasi (Regional Correspondent)March 16, 2021

The spokesman of the Concerned Enugu State Youths, Mr. Wilfred Okeke, on Tuesday said the youths are not happy with the pension bill proposed by the legislators for former Governors and their deputy even at such a time as now when people are passing through excruciating economic reality. Okeke wondered why the ex-governors and deputies who serve at most eight years would be considered for pension and gratuity when most retired civil servants in Enugu...

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Controversial Pension Bill For Former Governors And Ex-Deputy Governors In Enugu State Stepped Down

MoneyNewsPoliticsControversial Pension Bill For Former Governors And Ex-Deputy Governors In Enugu State Stepped Down

Ije Ulasi (Regional Correspondent)March 16, 2021

The Enugu State House of Assembly on Tuesday stepped down the controversial life pension bill for former Governors and Deputy Governors in Enugu state. Hon. Ubosi Edward, Speaker of the seventh assembly explained, “The stepping down of the bill during plenary today was to enable the seventh assembly take a critical look at the legislation in order to come up with practical solutions and inadequacies noticed in the bill”. “Stepping down the bill will help...

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Institute Warns Cross River About Substandard Construction at Popular Calabar Market

InfrastructureMarketsInstitute Warns Cross River About Substandard Construction at Popular Calabar Market

PilotnewsMarch 16, 2021

CALABAR —  Substandard structures being erected at the popular Watt Market in Calabar are accidents waiting to happen. This declaration was made in Calabar on Tuesday by Mr. Ekpenyong Ekpenyong, Chairman, Cross River chapter of the Nigerian Institute of Building. Ekpenyong told the News Agency of Nigeria (NAN) that contractors erecting new shops in the market were placing nine-inch blocks on six-inch blocks. He said it was even more dangerous considering the fact that the...

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Dollar Holds Firm in Cautious Trading Before Fed Meets

EconomyWorld NewsDollar Holds Firm in Cautious Trading Before Fed Meets

PilotnewsMarch 16, 2021

TOKYO — The U.S. dollar clung to small gains on Tuesday as caution reigned in currency markets, ahead of major central bank meetings. The meeting begins with a two-day Federal Reserve gathering due to start later in the global day. The greenback hovered just off its highest since June versus the yen and cemented a position around $1.19 per euro in muted trading. The firmer tone for the dollar came despite a retreat in U.S....

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