Wednesday, 28th February 2024
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Nigerian economy

22 Feb
The frequent hikes of the import duty rate may have triggered a major crisis at the Nigerian ports as an increasing number of Nigerian importers are routing their cargoes to Tema, Ghana; Lome, Togo and Cotonou, the Republic of Benin.
2 Feb
The Nigerian-British Chamber of Commerce (NBCC) has called on the government to urgently speed up its ongoing reforms to boost the economy.
2 Feb
As the naira faces a formidable challenge, plummeting to N1,520.123 against the U.S. dollar in the parallel market, Dominic Joshua, a distinguished entrepreneur, finance expert, and owner of a leading fintech enterprise, steps forward with a comprehensive blueprint to restore economic equilibrium. In the midst of escalating depreciation, Joshua shares his multifaceted insights on fortifying…
25 Jan
The farmer waits for rain in the early months of the year. If it rains properly, not the scattered rain that deceives you to plant early, then the farmer would know it is time to plant the yam seedlings. He prays for rain, and when it comes, he prays for more rain.
24 Jan
The Permanent Representative of the Centre for Convention on Democratic Integrity, (CDDI) to the ECOSOC-United Nations and Chairman of the Civil Society Policy Forum of World Bank/ African Countries Caucus, Olufemi Aduwo, extolled the impressive growth recorded so far by the Group Chief Executive Officer, Nigerian National Petroleum Corporation Limited (NNPCL), Mele Kyari. According to…
5 Jan
Hon. Ikenga Ugochinyere Ikeagwuonu, a member of the House of Representatives, representing Ideato North South Federal Constituency, has expressed concerns over the raid by operatives of Economic and Financial Crimes Commission (EFCC) on the headquarters of the Dangote Group. The EFCC on Thursday raided the headquarters of the Dangote Group in Lagos in connection with…
18 Dec
Former APC Deputy National Publicity Secretary, Timi Frank, has voiced deep concern about the deteriorating socio-economic conditions during President Bola Tinubu's tenure. Frank, in a statement issued on Monday, highlighted the severe economic hardships faced by Nigerians, citing escalating poverty, salary delays, inflation surges beyond 28 percent, and the cost of living soaring. He pointed…
15 Dec
Ohanaeze Youths Movement (OYM), the premier Igbo socio-cultural youth group, on Friday dismissed Central Bank of Nigeria (CBN) Governor Yemi Cardoso's accusations against Godwin Emefiele regarding the shortage of naira notes. The OYM labelled these claims as immature and alleged that they were orchestrated by the CBN chief to divert attention from his failure to…
2 Dec
According to the World Bank, Nigeria has the largest energy deficit in the world, grappling with inefficiencies in electricity generation, transmission, and distribution. With an alarming 45% of its population disconnected from the grid, Nigeria holds the record as the country with the largest population not connected to electricity. The multiple shortcomings in the Nigerian…
16 Nov
Nigerian inflation continues to defy global trends, setting a new multi-decade of 27.3 per cent in October even as experts warned that prices, which have been an uptrend in the past two years, will not abate anytime soon.
16 Nov
Sir: The trend in the global financial markets is a wake-up call for those who manage the Nigerian economy.
13 Nov
The Nigerian economy depends largely on hydrocarbons. Yet, in the wake of the Russian-Ukrainian war and the subsequent energy crisis that gripped European countries due to a reduction in gas supply from Russia...

Latest

35 mins ago
West Africa’s leading film school for young, talented and passionate filmmakers, the MultiChoice Talent Factory (MTF), is set to premiere two feature films, Grown and Her Dark Past on Africa Magic. The two compelling films which are the final projects of the MTF Class of 2023 students, will exclusively premiere on Africa Magic Showcase and Africa Magic Urban in the first two weekends this March.
41 mins ago
It’s no news that Sunrise Power Transmission has some of the most erudite and highly connected lawyers on international waters.
41 mins ago
Nigerian authorities have detained two senior officials of the world's largest cryptocurrency exchange Binance, Financial Times reported on Wednesday. The detention of the officials came a day after Nigeria's central bank governor Olayemi Cardoso said that about $26 billion mostly from unknown sources flowed through the exchange in the last one year. Nigeria last week…
1 hour ago
The Enugu Electricity Distribution Company (EEDC) says prepaid meter upgrade is free of charge to customers within the company’s franchise network in South-East.
1 hour ago
The City Management Team of the Federal Capital Territory Administration (FCTA), has demolished illegal shanties and structures of Bureau De Change (BDC) operators in Wuse Zone 4, Abuja.
3 hours ago
Suspected herdsmen have ambushed and killed two police operatives attached to Force Intelligence Response Team (IRT) operatives who were deployed into a forest in Delta to rescue about four kidnap victims. A source hinted nine operatives were killed. But a source at IRT noted that two officers were killed. According to a reliable source in…
3 hours ago
The House of Representatives, on Wednesday, turned down the report of its Ad-hoc Committee that investigated the alleged irregularities and corruption in the acquisition of OVH Energy Marketing by the Nigerian National Petroleum Company Limited (NNPCL). The Hon. Hassan Abubakar Nalaraba-led Committee's report was discarded after it was debated at plenary on Tuesday due to…
3 hours ago
The House of Representatives has mandated its Committee on Small and Medium Size Enterprises (SMEs) to holistically investigate the cancellation of $2.4 billion worth of forward contracts sold to manufacturers by the Central Bank of Nigeria (CBN). Recently, CBN had announced the invalidation of approximately $2.4 billion worth of forward contracts sold to manufacturers. According…
3 hours ago
A group of young environmental activists has commenced protests across the country to pressure insurance companies against insuring fossil fuel projects. The environmentalists under the aegis of Fridays For Future Nigeria (FFFN) announced plans to commence protests in Lagos, Abuja, Port Harcourt, and Delta from Feb. 26 to March 6 to ensure insurance companies insure…
3 hours ago
Yoruba veteran actor, kola Oyewo, has revealed his hard times battling prostate enlargement, and how it rendered him sexually impotent. The actor revealed this to colleagues, Kunle Afod, and Peter Fatomilola. “I had an enlarged prostate, but I feel better now. In 2019, I first noticed that I would easily pee on myself or find…