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…
In picture above: British Minister for Africa Vicky Ford and Nigeria’s Minister of State for Power Jedy Agba react during the signing of new investments focusing on jobs and financial autonomy, in Abuja, Nigeria February 21, 2022. REUTERS/Afolabi Sotunde Britain plans to boost investments in renewable and climate change projects in Nigeria and will provide Read More…
The African Development Bank President (AfDB), Dr. Akinwumi Adesina, has described the $19.5 billion Dangote oil refinery and petrochemical plant projects as a “game-changing initiative” that will spur Africa’s development and deepen regional integration, while on a tour on Saturday of the partially bank-funded project. The complex will create 38,000 jobs during construction. According to Read More…
Lagos State Governor, Mr. Babajide Sanwo-Olu, has stated that unlocking the potential of the Southwest would depend on the commitment of regional governments to stronger alliances and exploration of evidence-driven solutions for sustainable development. Speaking at the two-day Southwest Investment Promotion Agencies Conference (IPAC-1) in Ikeja, the Governor explained that the forum was informed by Read More…
