NNPC Records ₦28.38bn Trading Surplus in Sept. – Report

BusinessNewsNigeriaOil & GasNNPC Records ₦28.38bn Trading Surplus in Sept. – Report

PilotnewsJanuary 18, 2021

The Nigerian National Petroleum Corporation  (NNPC) says it recorded a trading surplus of ₦28.38 billion in September 2020. The Corporation disclosed this in its Monthly Financial and Operation Report (MFOR)  for the month of September, released in Abuja, on Sunday. It said that the amount was slightly lower than the ₦29.60 billion surplus in August 2020. The marginal reduction in surplus, according to the report, was as a result of lower contribution from the Nigerian...

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Over 8,000 Passengers Access e-ticketing on Abuja-Kaduna Rail Line

BusinessNewsNigeriaTravelOver 8,000 Passengers Access e-ticketing on Abuja-Kaduna Rail Line

PilotnewsJanuary 17, 2021

More than 8,000 passengers on the Abuja-Kaduna train route have accessed the Nigeria Railway Corporation (NRC) e-ticketing platform three days after its test running. A statement by Taiye Elebiyo-Edeni, Media Assistant to Minister of Transportation, Rotimi Amaechi, said the Federal Government on Wednesday announced the commencement of the test run. She said that e-ticketing on the route would also officially begin on Jan. 20. Elebiyo-Edeni said that on the first day of the test booking,...

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Nigeria’s Inflation Hits 15.75%

EconomyNewsNigeriaNigeria’s Inflation Hits 15.75%

Beloved John (Staff Writer)January 15, 2021

A report by the National Bureau Statistics (NBS) has shown that there’s an increase in the Consumer Price Index (CPI) which measures inflation. The CPI increased by 15.75 per cent (year-on-year) in December 2020, 0.86 per cent points higher than the rate recorded in the previous month (November) according to the monthly report which was released on Friday. CPI measures the changes in the purchasing power of a country’s currency, the price level of a...

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FG to Give N20,000 Cash Grant to 160,000 Poor, Vulnerable Rural Women — Minister

CoronavirusEconomyNewsNigeriaFG to Give N20,000 Cash Grant to 160,000 Poor, Vulnerable Rural Women — Minister

PilotnewsJanuary 14, 2021

The Federal Government is targeting over 160,000 poor and vulnerable rural women, to benefit from the N20,000 cash grant, across the country to cushion the effects of COVID-19 pandemic. The Minister of Humanitarian Affairs, Disaster Management and Social Development, Hajiya Sadiya Umar-Faruk, made the disclosure at the launch of the grant, on Wednesday, in Katsina, where 6,800 rural women would benefit. “We are targeting over 160,000 poor and vulnerable rural women in Nigeria for the...

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BusinessEconomyNewsNigeriaNigeria’s Public Debt Increased By N6.01trn in 2020 — Report

Beloved John (Staff Writer)January 14, 2021

Nigeria’s total public debt stock as of the third quarter of 2020 (Q3 2020) increased by N6.01 trillion according to the National Bureau of Statistics’ (NBS) Report. The report which focused on Nigeria’s Domestic and Foreign Debt Q3 2020, estimated the country’s total public debt stock constituting both external and domestic debts. The debts cumulatively stood at N32.22 trillion ($84.57 billion) as of September 2020. This represents a 22.93 percent increase when compared to N26.21...

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Ondo State Government Bans Street Trading In The State Capital

BusinessLaw & JusticeNewsOndo State Government Bans Street Trading In The State Capital

Hassan Umar Shallpella (Regional Correspondent)January 9, 2021

The Ondo State Government has placed a total ban on trading along the vehicular traffic lanes, pedestrian paths and walkways on major market corridors in Akure, the state capital. State Commissioner for Information and Orientation on Friday Mr. Donald Ojogo in a statement said the development followed the setting up of the Committee on Waste Management and in its bid to instill sanity, especially in Akure. The statement said “the ban also includes artisans such...

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FG Directs NERC To Halt Implementation Of Reviewed Tariff

BusinessNewsNigeriaPowerFG Directs NERC To Halt Implementation Of Reviewed Tariff

Beloved John (Staff Writer)January 8, 2021

The minister of power, Saleh Mamman on Thursday ordered the Nigerian Electricity Regulatory Commission (NERC) to stall implementation of the reviewed tariff. The commission had earlier approved an increase in electricity tariffs across the country. The minister in a statement said the tariff review will be on hold until the conclusion of the joint ad hoc committee’s work at the end of January. He mentioned that the government had initially subsidised the tariff of all...

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Lagos Govt. Pegs 2021 Budget at N1.164 trn

EconomyNewsNigeriaLagos Govt. Pegs 2021 Budget at N1.164 trn

PilotnewsJanuary 7, 2021

The Lagos State Year 2021 Appropriation Budget named ” Budget of Rekindled Hope”  has been pegged at  N1.164 trillion. Mr. Sam Egube, the Commissioner for Economic Planning and Budget, Lagos State, made the disclosure in Lagos on Thursday at a media briefing of the Year 2021 Analysis. Egube said that the budget was made up of  N702.93 billion and N460.58 billion for both capital expenditure and recurrent expenditure respectively. This, he explained, represented a 60:40...

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FG Directs Reversal of Electricity Tariff Adjustment

BusinessPowerFG Directs Reversal of Electricity Tariff Adjustment

PilotnewsJanuary 7, 2021

The Minister of Power, Mr. Saleh Mamman, has directed the Nigerian Electricity Regulatory Commission (NERC) to inform all Electricity Distribution Companies (DISCOs) to revert to tariffs that were applicable in Dec. 2020. Mr. Aaron Artimas, Senior Special Adviser, Media and Communications to the Minister of Power, made this known in a statement in Abuja on Thursday. He said that the reversal to the old tariff was to promote a constructive conclusion of the dialogue with...

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SMEDAN Trains Over 10,000 Young Entrepreneurs in North East in 2020

BusinessEconomyNewsNigeriaSMEDAN Trains Over 10,000 Young Entrepreneurs in North East in 2020

PilotnewsJanuary 7, 2021

The Small and Medium Enterprise Development Agency of Nigeria (SMEDAN) trained more than 10, 000 young entrepreneurs in the North East region in 2020 on how to manage small businesses profitably. Mr. Isa Doguwa, the Zonal Coordinator, SMEDAN North East Region, disclosed this in an interview with the News Agency of Nigeria (NAN) on Wednesday in Bauchi. Doguwa said that compared to 2019, SMEDAN recorded huge success in terms of training and empowerment in the...

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