The National Bureau of Statistics (NBS) has reported another sharp rise in kerosene prices. According to the latest report published on the bureau’s website, the per litre and per gallon costs of Household Kerosene (HHK) have increased significantly, both on a monthly and yearly basis. =NBS revealed that the average retail price per litre of…
Taiwo Oyedele, chairman of the presidential committee on fiscal policy and tax reforms, says Nigeria’s budget is too small to fund meaningful development. Oyedele spoke on Monday at an interactive session organised by the house of representatives on the tax reform bills The fiscal policy expert said the budgets of African countries like Kenya and…
As the Yuletide season draws nearer, the First Lady, Senator Oluremi Tinubu, has appealed to market women to refrain from unfair hike in prices of food items during the festive season. This is as the President’s wife has inaugurated a 3.1 kilometer runway at the Wilberforce Chuba Okadigbo International Airport, Onueke, Ebonyi State. She performed…
The Central Bank of Nigeria (CBN) has directed banks to prioritise cash disbursement through automated teller machines (ATMs). CBN gave the directive in a circular to banks on Friday titled ‘Mystery shopping & spot checks on cash disbursement activities of deposit money banks (DMBs)”. In the circular signed by Solaja Olayemi, acting director, currency operations…
Nigeria’s inflation rate has risen to 33.88% in October 2024, up from 32.7% in September 2024. According to the latest report from the National Bureau of Statistics (NBS) on the Consumer Price Index (CPI), this rise in inflation is mainly due to higher costs in transportation and food prices. Examining the inflation rate compared to…
The General Overseer of the Redeemed Christian Church of God (RCCG) Pastor Enoch Adeboye has said without divine intervention, the exchange rate could have soared to ₦10,000 to $1. Speaking during the Special Holy Ghost Congress in Abuja, Adeboye linked Nigeria’s financial struggles to its heavy reliance on fuel imports, despite being a significant oil-producing…
President Bola Tinubu reiterated yesterday that his vision to strengthen Nigeria’s economy is progressing as planned. He made the statement through the National Security Adviser (NSA) at the opening of the 24th Comptroller-General of Customs Conference in Abuja. “When I assumed office last year, I set out with a clear and unwavering vision – to…
In a bid to make rice more affordable for Nigerians, sachets of rice have been reintroduced into the market, following the surge in prices of the staple food. A 50kg bag of local rice now costs between N78,000 to N90,000 in the country, depending on the location and brand. These values are higher than the…
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced a new agreement with Dangote Petroleum Refinery that could reduce petrol prices nationwide. IPMAN’s National President, Abubakar Garima, revealed the agreement during a press briefing in Abuja, following a meeting of the association’s National Working Committee. Under the new arrangement, IPMAN will now source PMS…
A data review for the second quarter debt portfolio of the country released by the National Bureau of Statistics (NBS) has shown that the debt owed by every Nigerian on the average stood at N619,501. According to the data published by the Debt Management Office, Nigeria’s public debt stood at N134.297 trillion as of the…