The consumer price index (CPI), which measures the rate of change in prices of goods and services, declined for the seventh consecutive time to 15.99 percent in October 2021. The figure is 1.76% points higher than the rate recorded in October 2020 (14.23) percent. The National Bureau of Statistics (NBS) said this in its monthly […]
The Federal Government has hinted that it may explore an out-of-court solution to the lingering legal battle between its agency, Federal Inland Revenue Service, and Rivers and Lagos states over the collection of Value Added Tax. The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, noted that efforts were ongoing on the issue […]
Zainab Ahmed, minister of finance, says the federal government will pay Nigerians transport allowance after removing fuel subsidy. Speaking during an interview on Channels Television on Thursday, Ahmed said fuel subsidy is costing the country resources that should have been used for education and health. She described fuel subsidy as a “major drain and waste” […]
against the dollar at the parallel market on Thursday to trade at N530 per dollar. The figure is N10 or 1.8 percent higher than the N540 it traded on Wednesday. Street traders across forex markets in Lagos who spoke to TheCable on Thursday quoted the naira at N530 and 540 to a dollar for buying […]
Leader of the pan-Yoruba socio-political organisation, Afenifere, on Thursday, called for formation of a Government of National Unity, saying President Muhammadu Buhari, alone cannot embark on the restructuring of the country. Adebanjo said this during a state of the nation address held in Lagos. The Afenifere leader said the Government of National Unity will comprise […]
The World Bank has demanded debt transparency as a crucial step in countries’ development process, while it estimates that external financing needs in Nigeria and other low income developing countries will reach $429bn between 2023 and 2025. It added that transparency would facilitate new investments, improve accountability, and help reduce corruption. This was stated in […]
The Nigerian naira has appreciated by 3.6% to N540/$1 at the parallel market — almost four months after the Central Bank of Nigeria (CBN) stopped FX sales to Bureaux De Change (BDCs) operators. The local currency gained N20 to close at N540 on Wednesday from N560 it opened the weekly trading on Monday. Bureaux De […]
. The Senate on Wednesday approved President Muhammadu Buhari’s External Borrowing (Rolling Plan) request in the sum of $16,230,077,718, and €1,020,000,000. Also approved by the upper chamber was a grant component of $125 million. The loans are to be funded by the World Bank, China Exim Bank, industrial, and commercial banks as well as African […]
Vice President Yemi Osinbajo SAN presides over the National Economic Council Meeting in the State House on October 15, 2021. A file photo of the Vice President, Professor Yemi Osinbajo. The Federal Government is considering an ‘Operation Feed Yourself’ initiative to encourage the establishment of urban farms and small home gardens across the country. Vice […]
Elder statesman and chairman of Ohanaeze Ndigbo Elders Council, Chief Emmanuel Iwuanyanwu, has said the South-East will soon undergo a massive industrial and economic revolution. Iwuanyanwu disclosed this while addressing the leadership of Ohanaeze Ndigbo Youth Worldwide who visited him in his office in Owerri. He said this would be achieved in collaboration with the […]
