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 […]
The governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso said interest rates would remain high until inflation rate comes down. Cardoso stated this in a Financial Times report on Monday. The CBN boss also said orthodox policies would be implemented to tame inflation. He said there is “every indication” that MPC would […]
The Federal Government is poised to receive fresh loan funding from the World Bank, with approval expected for loans totalling $2.25bn on June 13, 2024. The funding will be received via two major development projects. The first project is the Nigeria Reforms for Economic Stabilization to Enable Transformation Development Policy Financing, which is set […]
The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has said that the huge purchase of foodstuffs by the government as palliatives is contributing to the galloping food inflation in the country. He stated this in his contributions during the March Monetary Policy Committee, which was published on the website of the CBN. […]
The Central Bank of Nigeria has approved the sale of an additional 10,000 dollars to 1,583 eligible Bureaux De Change (BDCs) in the country to meet market demands. The Director, Trade and Exchange Department of the CBN, Dr Hassan Mahmud, made this known in a letter addressed to the President, Association of Bureau De […]
The International Monetary Fund (IMF) is insisting that the federal government of Nigeria must put an end to fuel subsidy. The reason for the insistence is because the subsidy as it were only favours the rich and impoverishes the poor. The IMF Director of the African Department, Abebe Selassie, made this known at the […]
President Bola Tinubu has inaugurated the National Single Window initiative, marking a significant step towards enhancing revenue generation and streamlining the import/export trade process for ease of doing business. This transformative project reflects the President’s dedication to overcoming longstanding developmental barriers and fostering progress, prosperity, and well-being for all Nigerians. At the launch event […]
