Nigeria’s inflation now 15.75%, highest since 2017
Data from the National Bureau of Statistics released Friday showed that the inflation rate in Nigeria jumped in December to its highest level in more than three years. Inflation stood … Read More
Category: Economy
FG creates “Special instruments” as part of plans to formalize borrowing from CBN
The ministry of finance and the Central bank of Nigeria have planned to convert loans from the financial regulator into tradeable securities, the Minister of Finance Zainab Ahmed has said. … Read More
NBS: Active Data Subscription Hits 151.51m
The total number of active internet subscribers increased to 151.51 million in the third quarter of last year (Q3 2020) compared to 143.63 million subscribers in the preceding quarter and … Read More
FIRS: Nigeria Lost N5.4tn to Tax Evasion by Multinationals
The Executive Chairman, Federal Inland Revenue Service (FIRS), Mr. Muhammad Nami, yesterday said the country lost over $178 billion (about N5.4 trillion) through tax evasion by multinationals doing business in … Read More
FG signs Kano-Maradi 1.9bn railway line
The Federal Government has signed the Memorandum of Understanding (MoU) with Mota- Engil Group on the construction of 1.959billion dollars Kano-Maradi Standard Gauge Railway lines. The Minister of Transportation, Rotimi … Read More
Lawmaker proposes bill to legalize cultivation of marijuana in Nigeria
A bill to legalize the cultivation and trading of cannabis for medical use as well as for revenue generation in Nigeria has been proposed. The bill titled ‘A Bill for … Read More
Kano reverts to N18,000 minimum wage ‘over COVID-19-induced recession’
The Kano state government has stopped the payment of N30,000 minimum wage to its workers, reverting to N18,000 — the previous wage scale. Following pressure from organised labour, President Muhammadu … Read More
FG to borrow dormant account balances, unclaimed dividends
Unclaimed dividends and bank account balances unattended to for at least six years will available as special credit to the federal government through the Unclaimed Funds Trust Fund, according to … Read More
FG increases electricity tariff by 50% few days into 2021
Barely three months after the last increment of Electricity Tariff by the discos, the Nigerian Electricity Regulatory Commission (NERC) has already enforced a new Multi-Year Tariff Order (MYTO), increasing electricity … Read More
Russia, OPEC plan talk on need to increase oil production in February
Ministers of the OPEC+ countries will hold two meetings on Monday, where they will decide whether to continue the recovery of oil production in February by another 0.5 mln bpd. … Read More