The world’s richest 1 per cent have amassed $42 trillion in new wealth over the past decade. This is nearly 34 times more than the entire bottom 50 per cent of the world’s population, according to a new analysis released by Oxfam. Oxfam is a British-founded confederation of 21 independent non-governmental organisations, focusing on […]
President Bola Ahmed Tinubu on Wednesday transmitted a letter to the Senate asking the lawmakers to approve 2024 supplementary appropriation to the tune of N6.2 trillion. The letter was read by Senate President Godswill Akpabio. This increases the 2024 budget to N34.9 trillion from an initial N28. 7 trillion budget President Tinubu had earlier […]
The Federal Government has donated 20 trucks of rice to the 36 state governors and the Federal Capital Territory (FCT) for distribution to vulnerable Nigerians. The Minister of Information and National Orientation, Mohammed Idris, on Monday, stated that this gesture reflects the Tinubu administration’s commitment to ensuring food security for all Nigerians. He also […]
Nigeria’s annual inflation rate increased for the fifth consecutive month to 34.19 per cent as residents of Africa’s most populous country grapple with a cost of living crisis, Premium Times is reporting. According to the National Bureau of Statistics (NBS), released on Monday, the June figure is 0.24 per cent higher than the 33.95 […]
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 (PECC) members to increase Nigeria’s on-grid electricity capacity. This was disclosed in a statement by the presidential spokesman, Ajuri Ngeglale, who said the President spoke […]
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 consecutive months. It was 33.69% in April. The NBS highlights major concerns with food inflation in particular. The Bola Tinubu presidency continues to struggle with […]
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 of unbroken Democracy in Abuja. The President appreciated those who stood by him over the years and promised Nigerians that he won’t depart from the […]
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 year. A breakdown of the report, ‘International Payments Data,’ revealed that FG spent the most on debt financing in May, at $854.36 million, which is […]
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 report, the bureau put the nation’s current growth rate at 2.98 per cent, saying the growth rate is higher than the 2.31 per cent recorded […]
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. This represents a month-over-month increase of 0.49 per cent points in the headline inflation rate, according to the Consumer Price Index report, the NBS stated […]
