A new report by Amnesty International accuses Nigerian police of using excessive force during August’s protests against the soaring cost of living, resulting in at least 24 deaths. The protests, branded as #10DaysOfRage, were the largest nationwide demonstrations since the EndSARS movement in 2020. According to the 34-page report, Amnesty International gathered evidence from eyewitness Read More…
The Nigerian National Petroleum Company (NNPC) Ltd. has refuted claims of an imminent rise in the cost of Premium Motor Spirit (PMS), also known as petrol, urging citizens to dismiss unfounded speculations regarding a potential fuel price hike. Mr. Olufemi Soneye, the Chief Corporate Communications Officer of NNPC Ltd., reaffirmed this stance in a statement Read More…
Finance Minister Olawale Edun announced the Federal Executive Council’s (FEC) approval of a $1 billion concessional loan from the African Development Bank (AfDB) aimed at bolstering the budget and enhancing foreign exchange reserves. Edun revealed the loan details, citing a 4.2% interest rate over 25 years with an eight-year moratorium, following a cabinet meeting in Read More…
Olayemi Cardoso, the newly appointed governor of Nigeria’s central bank, announced plans to implement tighter monetary policies in the next two quarters to manage inflation while urging banks to bolster their capital to support economic growth. Addressing immediate challenges such as curbing excess liquidity and combating inflation, Cardoso emphasised a shift from direct fiscal interventions Read More…
The Lagos Chamber of Commerce and Industry (LCCI), has said that a reversal of the current reforms on subsidy of Premium Motor Spirit (PMS) would exacerbate the challenges of the already faltering Nigerian economy. Dr Muda Yusuf, Director-General LCCI made the assertion in a statement to newsmen on Sunday in Lagos. Yusuf said the current Read More…
