Nigeria Inflation Rate Drops to 15.99% in October as Food Prices Ease
Nigerian inflation slowed to a 10th-month low in October, giving the central bank scope to leave interest rates on hold next week. Consumer prices increased 15.99% from a year earlier, compared with 16.63% in September, Statistician-General Simon Harry told reporters Monday in Abuja, the capital. The median estimate in a Bloomberg survey of seven economists was 16.2%. While inflation has exceeded...
Sir Udensi Urges Patronage, Support To Made-In-Aba Products
Interpol Systems Consultant, Sir Chikwe Udensi has advised Nigerians to be contented with made in Nigeria products. Udensi gave the advice on Saturday while addressing Journalists in Abuja on the 2021 Made-in -Aba Trade Fair, exhibition which has become an important annual feature in the Federal Capital Territory (FCT) business promotion calendar in the country. He told newsmen, that some of...
Smuggling Responsible For High Cost Of Rice, Says Finance Minister
The Minister of Finance, Budget, and National Planning, Zainab Ahmed, on Thursday, said smuggling is responsible for the rising cost of rice in the country. Speaking during an interview on Channels Television’s Politics Today on Thursday, the Minister said smuggling is affecting the market and hurting the citizens. “Unfortunately there is a lot of distortion and the distortion is arising from...
I’ll Do My Best To Support The Survival Of Enyimba Automated Shoe Company, SP Ahmed Lawan Assures (PHOTOS, VIDEO)
The Senate President, Senator Ahmed Lawan has said as the number three citizen of the country, he will do all within his capacity to ensure that the Enyimba Automated Shoe Company (ENASCO) survives and achieve the aims of its establishment. The Senate President assured that the Senate will henceforth, will begin move to stop Federal Government Agencies from importing boots...
Nigerians Must Support Locally Made Goods To Grow Economy, Buhari Advises
President Muhammadu Buhari has urged Nigerians to support locally manufactured goods to boost trade activities and prospects in the country. He said this Friday in his keynote address at the opening of the 35th edition of Lagos International Trade Fair themed, ‘Connecting Businesses, Creating Value,’ organised by the Lagos Chamber of Commerce and Industry (LCCI). Buhari who was represented by the...
US President, Biden Appoints Nigeria’s Enoh Ebong US Director Of Trade
US President Joe Biden has appointed Nigerian-born Enoh Titilayo Ebong to the post of Director, United States Trade and Development Agency. This was contained in a brief with names of nominees for different positions in the president’s cabinet sent to the US Congress. Ebong had served in different roles in the USTDA between 2004 and 2019, including serving as the agency’s...
Buhari Says His Government Took Painful Decisions To Invest For Prosperous Future, Insists Pain ‘Short Term’
President Muhammadu Buhari has explained how his administration took painful decisions to invest for a prosperous future of all Nigerians. Speaking on Tuesday in Saudi Arabia at an investment conference organised by the Future Investment Initiative Institute, the Nigerian leader said upon assuming office in 2015, his government understood the importance on inclusive policies for sustainable peace. “In the past six...
President Buhari Officially Launches e-Naira
President Muhammadu Buhari has officially launched e–Naira, the Nigerian digital currency in Abuja, ABN TV reports. Present were the Vice-President, Prof. Yemi Osinbajo and the Central Bank of Nigeria (CBN) Governor, Godwin Emefiele. ABN TV reports that the eNaira will be an electronic version of the local paper naira currency, equal in value and issued by the CBN. Nigerian authorities say...
Buhari Set To Unveil Nigeria’s Digital Currency Monday
President Muhammadu Buhari is scheduled to formally unveil the Nigerian Central Bank Digital Currency (CBDC), known as the eNaira, on Monday 25 October 2021, at the State House, Abuja, ABN TV has learned. The launch of the eNaira is a culmination of several years of research work by the Central Bank of Nigeria in advancing the boundaries of payments system in...
After Rail Track Bombing, Abuja-Kaduna Train Services Resume Operations
The Minister of Transportation, Rotimi Amaechi, on Friday directed that Abuja-Kaduna Train Service (AKTS) should resume operations on Saturday. Amaechi gave the directive after inspecting repairs on the rail tracks between Rijana and Dutse along the route on Friday. The minister then assured the public of Federal Government’s commitment to ensure safety of passengers along the route.” "I think what is significant...
