The National Bureau of Statistics, NBS, said inflation rate rose to 16.82 percent in April 2022, representing a 0.90 percent rise when compared to 15.92 per cent recorded in March 2022. The bureau also said that the composite food index rose year-on-year (YoY) by 1.17 basis points to 18.37 percent in April 2022 from […]
Queues for petrol have resurfaced in the federal capital territory (FCT) causing anxiety and hardship for residents trying to get the product. It is not clear why the petrol queues are back in the nation’s capital. TheCable observed that between Saturday and Sunday, many petrol stations were closed. The few selling the product had […]
‘ The Minority Caucus in the House of Representatives has called on President Muhammadu Buhari to intervene and avert the imminent shutdown of airline services across the country. The Airline Operators of Nigeria (AON) had announced the shutdown of its member services on Friday due to the unbearable high cost of aviation fuel (JetA1) and […]
Senator Shehu Sani says President Muhammadu Buhari would have protested if the government of ex-President Goodluck Jonathan piled up debts like he has done. In an ongoing Twitter Spaces session with Daily Trust, the Senator who represented Kaduna Central in the 8th assembly, rated the government lowly. “Never at a time as a country […]
The Sultan of Sokoto and the President General Nigeria Supreme Council for Islamic Affairs, Alhaji Sa’ad Abubakar III, have urged the Federal Government to find an amicable solution to the ongoing impasse with university lecturers in the country. He also called on the government to stem the tide of inflation, while urging traders to […]
The Nigerian National Petroleum Company (NNPC) says it deducted N245.77 billion for petrol under-recovery costs in March. The value shortfall comprises the previous months’ outstanding and part of the February 2022 value shortfall. NNPC said this in its monthly presentation to the Federation Account Allocation Committee (FAAC) meeting on Wednesday, April 27. In the […]
The House of Representatives has approved the sum of N4 trillion for subsidy on Premium Motor Spirit(PMS). The approval came following President Muhammadu Buhari’s requeat for revision of the 2021 fiscal framework. Forwarding the Medium Term Expenditure Framework, the President asked the lawmakers to approve an additional N3.557 trillion in addition to the N442.72 […]
The Senate, on Tuesday, received a request from the President, Major General Muhammadu Buhari (retd.), to approve adjustments to the 2022 fiscal framework. The request was contained in a letter dated 5th April 2022. The letter was read during plenary by the Senate President, Ahmad Lawan. Buhari, in the letter, explained that an adjustment […]
Nigeria and 72 other countries are at high risk of debt distress, the International Monetary Fund has said in a new report. The report titled ‘Restructuring Debt of Poorer Nations Requires More Efficient Coordination’ was published on Thursday. “Low-income countries face fewer debt challenges today than they did 25 years ago, thanks in particular […]
Food and Agriculture Organisation (FAO) of the United Nations says global food prices surged by 13 per cent in March, making a giant leap to the highest level ever. In its monthly Food Price Index released on Friday, FAO said food prices averaged 159.3 points in March, up 12.6 per cent from February, when […]
