Nigeria finds itself grappling with a formidable economic challenge as inflation continues its upward trajectory. According to the National Bureau of Statistics, headline inflation surged from 29.9% in January to…
Category: Economy
Why I Removed Fuel Subsidy- Tinubu Begs Nigerians For Patience
President Bola Tinubu has shed light on the rationale behind the removal of fuel subsidy, emphasizing the need for transparency and redirecting funds towards critical sectors. Speaking at the seventh…
AfDB Warns of Social Unrest Amidst Rising Prices Of Food, Fuel, Other Commodities
The African Development Bank (AfDB) has sounded the alarm, cautioning that soaring prices of goods and fuel could ignite social turmoil, particularly due to opposition against government policies such as…
IMF Warns Of Nigeria’s Foreign Reserves To Depreciates To $24bn
The International Monetary Fund (IMF) has forecasted a troubling trajectory for Nigeria’s foreign reserves, predicting a potential plunge to $24 billion by 2024. The IMF’s latest country report for Nigeria…
Nigeria’s Economic Crisis Deepens Amid High Debt Servicing- IMF Warns
The International Monetary Fund (IMF) has sounded the alarm on Nigeria’s deepening economic woes, citing stalled per-capita growth, escalating poverty, and soaring food insecurity as exacerbating factors in the ongoing…
NNPCL Approves Creation Of New Department For Oil Revenue Transactions
In a move, the Nigerian National Petroleum Company Limited (NNPCL) announced the establishment of a new department in collaboration with the Central Bank of Nigeria (CBN) to streamline crude oil…
World Bank Warns Of Looming Food Crisis In Borno, Kaduna, Zamfara, Others.
In a revelation, the World Bank has pointed out the looming threat of severe food crises in seven states spanning the North-west and North-east regions of Nigeria. Highlighting factors such…
Foreign Investors Eye Nigeria’s Reforms For Long-Term Gains- Cardoso
Foreign Portfolio Investors (FPIs) are eyeing Nigeria due to an interest in the country’s policy reforms, according to Olayemi Cardoso, the Governor of the Central Bank of Nigeria. In an…
State Governors Rally Strong Collaboration With Federal Ministry To Boost Agriculture
The Governors of Kwara, Taraba, Ondo, and Kogi converged on the Abuja headquarters of the Federal Ministry of Agriculture and Food Security, highlighting the urgent need to enhance crop production…
CBN Governor Reveals $2.4 Billion Forex Scandal, Vows No Payment For Illegitimate Transactions
Dr Olayemi Cardoso, the governor of the Central Bank of Nigeria, unveiled a startling revelation regarding the $7 billion foreign exchange backlog inherited upon taking office. Cardoso in an interview…