The Arewa Consultative Forum (ACF) has faulted the Senate for suspending the Senator representing Bauchi Central Senatorial District, Senator Abdul Ningi over his allegation of budget padding, with a call on the senate to act with more circumspection and sensitivity in processing criticism of its operations. The forum expressed support for the suspended senator […]
The inflation rate has moved to 31.70 per cent in February, according to the latest data by the National Bureau of Statistics (NBS). The Bureau released the figure on Friday, with the latest data showing a rise from the 29.90 per cent recorded in January 2024. According to the ‘Consumer Price Index and Inflation […]
The naira, on Wednesday, appreciated by 1.88 percent to N1,570 at the parallel section of the foreign exchange (FX) market. Nigeria’s currency appreciated from N1,600/$ traded on March 11. Currency traders in Lagos, also known as bureau de change (BDC) operators, quoted the buying rate of the greenback at N1,550 and the selling price […]
Following the suspension of Senator Abdul Ningi, the Senate Minority Leader, Abba Moro, on Wednesday said the upper chamber is having some credibility problems. Ningi had in an interview with BBC Hausa alleged that the Senate padded the 2024 budget to the tune of N3.7 trillion. He also claimed that the Federal Government is […]
About 31.5 million people, including 83,846 IDPs in 26 states and the FCT, are expected to be in crisis or worse between June and August 2024, a report, Cadre Harmonisé, has said. The report also stated that 24.7 million people including 14,000 Internally Displaced Persons (IDPs) in 26 states and the Federal Capital Territory […]
The federal government on Wednesday disclosed that the policy of the immediate past administration of former President Muhammadu Buhari which resulted in free printing of Naira for eight years without corresponding production is one of the major errors responsible for the country’s current economic situation. Wale Edun, the Minister of Finance and Coordinating Minister […]
A former Governor of Bauchi State, Isa Yuguda, has stated that the federal government still pays subsidy on petroleum products. In his inaugural speech last year, President Bola Tinubu announced the five famous words “The fuel subsidy is gone,” adding that the 2023 Budget made no provision for fuel subsidy and more so, subsidy […]
•Wants DISCOs Licenses Revoked The Federal Government of Nigeria has been told to revoke the licenses of Power Distribution Companies in Nigeria (DISCOs). Human Rights, Liberty Access and Peace Defenders Foundation,(HURIDE) and Campaign for Democracy (CD), South East in a statement in Enugu said that revocation of the DISCOs’ licenses has become imperative given the […]
The African Development Bank (AfDB) has warned that Nigeria, Ethiopia, Angola and Kenya risk social unrest owing to the rising prices of fuel and other commodities. The AfDB gave the warning in its macroeconomic performance and outlook for 2024 wherein it projected the continent’s economy to grow higher than the 3.2 per cent recorded […]
In a move to solve the foreign exchange crisis in the country, the Central Bank of Nigeria (CBN) says Personal and Basic Travel Allowances will only be paid through electronic channels and not by cash. The Director of Trade and Exchange Department at the apex bank, Hassan Mahmud, made this known in a circular […]
