The consumer price index (CPI), which measures the rate of change in prices of goods and services, surged to 21.47 percent in November 2022, up from 21.09 percent in the previous month. The National Bureau of Statistics (NBS) said this on Thursday in its latest consumer price index (CPI) report. More to follow…
A member of the House of Representatives, Sergius Ogun says President Muhammadu Buhari needs courage to break the cartel operating in the oil sector. “We need to pray for the President to be strong. In this industry, we have strong cartel… The President will have to take the courage to stop some of these […]
The International Monetary Fund (IMF) and Ghana have reached a staff-level agreement for a three-year loan package of $3 billion. The development means that the agreement still requires the approval of the IMF management and executive board as well as receipt of the necessary financing assurances by Ghana’s partners and creditors. According to a […]
Former National Publicity Secretary of the Peoples Democratic Party, PDP, Chief Olisah Metuh, has described the new cashless policy as draconian and an inconvenience to poor Nigerians. He noted that if allowed to hold, it would, in the long run become counter productive. Read also: EFCC conducts public auction of over 400 cars in […]
The Presidency on Friday revealed that nine oil-producing states received N625.43bn 13 percent oil derivation, subsidy, and SURE-P refunds from the Federation Account in two years. “The states that received the refunds dating from 1999 to 2021 are Abia, Akwa-Ibom, Bayelsa, Cross River, Delta, Edo, Imo, Ondo and Rivers,” a statement signed by the […]
The federal government borrowed N6.3 trillion from the Central Bank of Nigeria (CBN) in the first 10 months of 2022. Ways and Means is a loan facility through which the CBN finances the government’s budget shortfalls. The data, obtained from CBN’s website, showed that the Ways and Means’ debt climbed from N17.5 trillion in […]
The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, has refuted allegations of budget padding by some ministries, departments and agencies. The minister, who said the federal government has taken steps to increase transparency in the budgeting process, noted that the funds in question were only wrongly captured in the budget estimates […]
President Muhammadu Buhari has finally unveiled the newly re-designed notes for the highest denominations of the naira. The President performed the brief ceremony just before the start of the Federal Executive Council (FEC) meeting at the Council Chambers of the Presidential Villa, Abuja. He presented to the public the new N1000, N500 and N200 […]
The Central Bank of Nigeria (CBN) has set a countdown clock on its website showing the deadline for three banknotes in circulation. The apex bank had announced plans to redesign, produce, release and circulate a new series of three banknotes out of the existing eight banknotes. The redesigned notes would include N200, N500 and […]
The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, says the Federal Government will do away with petroleum subsidy by June 2023. Ahmed said this on Tuesday in Abuja, during a press conference to mark the end of the 28th National Economic Summit (NES). The News Agency of Nigeria (NAN) reports that […]
