The National Bureau of Statistics on Monday disclosed that total foreign trade in Nigeria rose to N13.3 trillion in the third quarter of the year. The N13.3 trillion trade comprises N8.2 trillion imports and N5.1 trillion exports, resulting in a trade deficit of N3.03 trillion. The figures were disclosed by the Statistician-General of the Federation, […]
The Budget Office of the Federation has said restructuring Nigeria into six regions is pivotal to reducing the high cost of governance. It noted that the number of ministers also needs to be pruned and the number of political office holders and their aides reduced, lamenting that the huge recurrent expenditure had constrained the provision […]
The National Economic Council on Tuesday endorsed the Finance Bill 2022, subject to a few observations to be made. It was endorsed at a virtual NEC meeting presided over by Vice President Yemi Osinbajo. longer have access to public offices – NYSC DG Highlights of the bill were presented to the council by the Minister […]
Oil prices fell to $70 per barrel ahead of the meeting of the Organisation of Petroleum Exporting Countries (OPEC) and its allies scheduled to hold December 2. Brent crude futures, an international oil benchmark, fell by 3.72 percent to $70.71 at 2:52 pm on Tuesday. Also, U.S. West Texas Immediate (WTI) fell by 4.05 percent […]
Former Director-General of the Lagos State Chamber of Commerce and Industry, Muda Yusuf, has backed the removal of fuel subsidy, saying the move is necessary for the nation’s economy to stand. Last week, the Minister of Finance, Budget and National Planning, Zainab Ahmed, had announced that the government would remove fuel subsidy and replace it […]
Bolaji Owasanoye, chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), says 257 projects amounting to N20.138 billion were duplicated in the 2021 budget. The ICPC chairman while speaking at the third national summit on diminishing corruption in the public service with the theme “Corruption and the Cost of Governance: New Imperatives […]
Economic and financial experts have warned the Federal Government that Nigeria risks losing key national assets to China in the event that it defaults in paying back loans obtained from China which is currently put at $3.48bn. They spoke against the backdrop of the possible takeover of Uganda’s only international airport and other key assets […]
The Enugu Ecclesiastical Province of the Anglican communion has rejected the federal government’s proposal to completely withdraw the fuel subsidy and pay 40 million Nigerians N5,000 palliative each. The Church said that the government proposal was a disgrace to the sensibilities of Nigerians and asked President Muhammadu Buhari to withdraw the idea. The church also […]
The National Association of Nigerian Students on Friday threatened to shut down the country should the Federal Government proceed to remove subsidy from petrol. The organisation called on Nigerians and all its allied structures to be on the alert for further directives on the next action. The President of NANS, Sunday Asefon, issued the threat […]
Former President Olusegun Obasanjo says Nigerians need to adopt renewable energy because it is cheap, environment-friendly and can help generate profit. He said this on Friday at the inauguration of the 2MW solar power project for the Olusegun Obasanjo Presidential Library in Abeokuta, Ogun state. Recently, Nigerians raised the alarm over the federal government’s plan […]
