adminNigeria’s 4.5GW Electricity Generation Is Shameful, Says Tinubu
President Bola Tinubu has decried Nigeria’s power generation capacity, saying that the capacity of 4.5 gigawatts is shameful. Tinubu called for the collaboration of the Presidential Economic Coordination Council…
Nigeria’s Inflation Rate Hits Highest Point in 28 Years
Nigeria’s year-on-year inflation rose to 33.95% in May, according to the National Bureau of Statistics (NBS) figures released on Saturday. This means that inflation rate has risen for 18…
Minimum Wage: I Will Approve What Nigeria Can Afford, Says Tinubu
President Bola Tinubu says he will approve a new minimum wage that the government can afford. He stated this on Wednesday at a dinner to mark Nigeria’s 25 years…
Debt Servicing Gulps $2.2bn In Five Months, Says CBN
The latest data from the Central Bank of Nigeria has revealed that the federal government spent about $2.2 billion on debt servicing in the first five months of this…
Nigeria’s GDP Growth Declined By 2.98% In Q1 2024, Says NBS
The National Bureau of Statistics (NBS) on Friday said Nigeria’s Gross Domestic Product (GDP) declined by 2.98 per cent in the first quarter (Q1) of 2024. In its latest…
Nigeria’s inflation hits 33.69%
Nigeria’s headline inflation rate has increased to 33.69 per cent in April 2024 up from 33.20 per cent recorded in March 2024, the National Bureau of Statistics has said.…
Interest rates to remain high until inflation comes down — Cardoso
The governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso said interest rates would remain high until inflation rate comes down. Cardoso stated this in a Financial Times…
FG to receive $2.25bn World Bank loan June 13
The Federal Government is poised to receive fresh loan funding from the World Bank, with approval expected for loans totalling $2.25bn on June 13, 2024. The funding will be…
Govt palliative worsening food inflation, says Cardoso
The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has said that the huge purchase of foodstuffs by the government as palliatives is contributing to the galloping food…
CBN sells $10,000 to 1,583 BDCs at N1,021 rate
The Central Bank of Nigeria has approved the sale of an additional 10,000 dollars to 1,583 eligible Bureaux De Change (BDCs) in the country to meet market demands. The…
IMF insists Nigeria must remove fuel subsidies to benefit poor
The International Monetary Fund (IMF) is insisting that the federal government of Nigeria must put an end to fuel subsidy. The reason for the insistence is because the subsidy…
EXPLAINER: What you should know about National Single Window Initiative
President Bola Tinubu has inaugurated the National Single Window initiative, marking a significant step towards enhancing revenue generation and streamlining the import/export trade process for ease of doing business.…
Nigeria’s FX reserves drop to $32bn — lowest level in six years
Nigeria’s foreign reserves fell to $32.29 billion on April 15 — the lowest level in over six years. According to the latest data from the Central Bank of Nigeria…
Tinubu eyes $4bn annual savings from reduced bureaucracies
President Bola Tinubu on Tuesday said Nigeria stands to benefit about $2.7bn annually by implementing the Single Window Project. He also noted that the project will save the country…
Food Inflation Slowing, FG’s Revenue Up, Economy In Right Direction – Edun
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, says the Nigerian economy is moving in the right direction as policies of the new administration has…
