Fuel Subsidy Removal, Naira Floating: Tinubu Govt Reforms Have So Far Failed – IMF Reports
The International Monetary Fund (IMF) latest report on Sub-Saharan Africa has revealed that Nigeria’s broad-based economic reforms have yet to deliver the desired impact, 18 months after their introduction. Stakeholders in the food sector also argue that these reforms have failed to improve the basic necessities of life in the country. While the IMF recognized progress in […]
BREAKING: Inflation rises to 33.88%In October
Inflation rate surged to 33.88% in October 2024, according to the latest data from the National Bureau of Statistics (NBS), reflecting a growing strain on the country’s economy. Food and petrol price hikes pushed the rate to 33.88 percent, from 32.70 percent recorded in the previous month. Looking at the data, month-on-month, Nigeria’s headline […]
Tinubu May Present 2025 Budget Proposal To National Assembly Today, Set To Maintain Jan-Dec Cycle
President Bola Tinubu may present the 2025 budget proposal approved by the Federal Executive Council (FEC) to the National Assembly today, Friday, 15th November. Recall the federal government has proposed the sum of ₦47.9 trillion as the budget for the 2025 fiscal year. Bagudu also disclosed that the Council approved the Medium Term Expenditure Framework (MTEF) for […]
JUST IN: Infrastructure, Education Take Largest Share As Makinde Presents 2025 Budget Estimate (See Breakdown)
The Executive Governor of Oyo state governor, His Excellency, Engr. Seyi Makinde has presented 2025 budget proposal with an estimate of 678.08 billion naira to the Oyo state house of assembly. According to the budget estimate, 343 billion goes for Capital expenditure which is 50.59 percentage of the budget while 335 billion naira is budgeted […]
BREAKING: IPMAN, Dangote reach agreement on direct petrol supply
The Independent Petroleum Marketers Association of Nigeria has secured an agreement with Dangote Refinery to lift products directly. IPMAN’s National President, Abubakar Garima, announced this at an ongoing press briefing on Monday in Abuja, following a meeting of the National Working Committee of the Association. He said the partnership would ensure a steady, affordable supply […]
Reps To CBN: Issue More New Naira Notes, Withdraw Old Ones Before Dec. 31st
The House of Representatives has urged the Central Bank of Nigeria (CBN) to issue more new N200, N500 and N1,000 currency notes and begin the gradual withdrawal of the old Naira notes from circulation before the deadline of December 31, 2024. The House also asked CBN to order commercial banks to forthwith stop cash payment to their customers with […]
Choose Between Petrol at N1,000/Litre or CNG at N200/Metre –Tinubu Tells Nigerians
In a significant move aimed at enhancing Nigeria’s energy landscape, President Bola Tinubu has unveiled new fuel pricing options for motorists. During a meeting with executives from the Nigerian Independent Petroleum Company (NIPCO) at the State House in Abuja, Tinubu announced that motorists can now choose between purchasing petrol at N1,000 per litre or compressed […]
MFM General Overseer Olukoya opens trade fair for SMEs
The General Overseer of Mountain of Fire and Miracles Ministries, Dr Daniel Olukoya, on Saturday, urged Nigerians and members of his church to remain resilient and grab the opportunities within their reach. Olukoya said this during the inauguration of the Seminal/Trade Fair Extravaganza organised by the church for over 200 Small and Medium Enterprises at […]
Inflation Rose to 32.70% in September 2024—NBS
Nigeria’s headline inflation rate for September 2024 rose to 32.70 per cent after slowing consecutively in the previous two months of July and August. This was according to the latest Consumer Price Index report from the National Bureau of Statistics. It is a marginal increase of 0.55 per cent from the August 2024 figure of […]
Now That Petroleum Marketers Can Buy Directly From Refineries, What Will Happen to Pricing?
As part of the transition towards a deregulated market structure for Premium Motor Spirit (PMS), the federal government has authorised petroleum product marketers to purchase PMS directly from local refineries. PDP Suspends National Chairman, Other Over Alleged Anti-party Activity This was announced on Friday in a statement signed by Wale Edun, the Minister of Finance […]