The House of Representatives passed the 2023 appropriation bill for second reading despite opposition from members about the nation’s high debt level and ongoing fuel subsidy payments. The two problems, according to the House, are the main causes that are harming the country’s economy. The breakdown of the budget was read to the House at Read More…
The governor of Lagos State, Babajide Sanwo-Olu, says that there is a plan to make Lagos the model megacity for all of Africa by 2052. At the 9th Ehingbeti Lagos Economic Summit, which took place on Victoria Island on Tuesday, Sanwo-Olu revealed this. He said that the government had put in a lot of work Read More…
A 30-year development plan will be unveiled by the Lagos State Government for the Lagos population expected to hit 40 million by 2050 at this year’s Ehingbeti Summit. Gov. Babajide Sanwo-Olu disclosed this at a Private-Public Partnership pre-Ehingbeti stakeholders’ engagement in Lagos on Tuesday. Sanwo-Olu, represented by the Deputy Governor, Lagos, Mr Obafemi Hamzat, said Read More…
MPR is now 15.5% The Monetary Policy Rate (MPR) has been raised from 14 per cent to 15.5 per cent on Tuesday in a bid by the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) to stem increasing inflation. The committee had increased the MPR by a total of 250 basis points Read More…
Peter Obi, the Labour Party (LP) presidential flagbearer has said that if elected in 2023, his government would overhaul the country’s security architecture. Obi said that he would also revive trust between the government and the people in order to set the path for a new economic order. The LP presidential candidate was speaking at Read More…
The National Assembly intends to tackle the N11.03 trillion deficit proposed in the N19.76 trillion 2023 budget as indicated in 2023-2025 MTEF and FSP by amending relevant provisions of the Finance Act. Chairman, Senate Committee on General Services, Sen. Sani Musa ( APC Niger-East) disclosed this in a chat with newsmen in Abuja on Sunday. Read More…
Dr. Olusegun Aderemi, a Lagos-based industrialist, has labelled the country’s economic problems as man-made, saying they are the creation of some persons in the position of authority. Aderemi, who is the Atayero of Aramoko Ekiti, also campaigned the enlightenment of youth on the understanding of the difference between value and things that add no value. Read More…
The eNaira has experienced a slow take-off since its inauguration in 2021. The Central Bank of Nigeria (CBN) announced on Thursday that the digital currency recorded just 200,000 volumes and four billion Naira value of transactions within the space of time. Mr Godwin Emefiele, the CBN Governor said this on Thursday in Abuja at the Read More…
The Debt Management Office (DMO), has raised N123.85 billion in its July Federal Government of Nigeria (FGN) bond auction. The DMO, which made this known in a statement on Monday, said that the three instruments auctioned were valued at N75 billion each, totalling N225 billion. It said that though the short term and medium term Read More…
The United States will build a $537 million consulate in Lagos, the country’s commercial capital, as Washington strengthens economic and diplomatic relations with Africa’s most populous country. The U.S. is among the largest foreign investors and donors in Nigeria with annual trade between the two countries at over $10 billion, according to the State Department. Read More…
