Nigeria’s Inflation Rate Drops To 17.7% In June
Nigeria’s Inflation has yet again fallen to 17.75% as the economy steadily improves. The country’s inflation rate dropped further in the month of June 2021 to 17.75% from 17.93% recorded in May 202!. This represents the third consecutive decline in headline inflation. This is according to the latest consumer price index report, released by the National Bureau of Statistics (NBS). READ ALSO:...
BREAKING: Abia Hits 1bn Naira In Monthly IGR As Ikpeazu Says Payment Of Workers Not A Problem
Abia State has met her target of hitting the N1bn mark in her internally generated revenue drive for the month of January 2020 thereby significantly raising her revenue profile while also paying the new minimum wage agreed by the Federal Government and Labour to its civil servants without any rancour or hesitation. This much was stated by the State’s Commissioner...
Rising Cost Of Food Items Pushes 7 Million Persons Into Poverty In Nigeria — World Bank
High inflation driven by soaring food prices has pushed seven million Nigerians into poverty, the World Bank said. In a new report, it commended Nigeria for buttressing its economy from fallout from the coronavirus pandemic but called for urgent measures to brake inflation and protect livelihoods. A major crude exporter, Africa’s largest and most populous economy again slipped into a recession...
Hardship: Some People Working To Undermine Our Efforts — VP Shettima
The Federal Government has said that some people are working to undermine the efforts of the President Bola Tinubu administration to revamp the Nigerian economy. The Vice President, Sen. Kashim Shettima disclosed this at the Public Wealth Management Conference, in Abuja on Wednesday. Pointed accusing fingers at smugglers and politicians as brains behind the attempt to pull the nation backward. The VP...
FG Targets Five Million Jobs From €995m Agric Programme
The Federal Government says it is targeting about five million jobs for farmers through the €995m agricultural mechanisation programme. The initiative was aimed at boosting food security for the country. ABN TV reports that under the initiative, it added that facilities comprising tractors and other agricultural machinery were expected to be leased out to Nigerian farmers. It stated that this was coming...
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...
BREAKING: Nigeria’s Debt Rises By N2.3trn, Hits N31trn – DMO
The Debt Management Office on Wednesday released Nigeria’s total public debt stock as of June 30, 2020, and put the country’s entire debt at N31trn, indicating an increase of N2.38trn within a space of three months. Nigeria’s total public debt stock includes the debt stock of the Federal Government, the 36 states, and the Federal Capital Territory. Just as the country’s...
Price Increase: After Return Of Fuel Queues In Abuja, Lagos, Nigerians Angry, Apprehensive — IPMAN
Following long fuel queues that have resurfaced in the Federal Capital Territory (FCT) and other states across the country, the Independent Petroleum Marketers Association of Nigeria (IPMAN) on Sunday, said Nigerians were being apprehensive over a likely increase in pump price. This is coming on the heels of increasing queues in filling stations within Abuja, where getting the commodity seems...
USAID to invest $60m to boost agribusiness in Nigeria
The United States Agency for International Development, (USAID) has disclosed plans to invest $60 million to boost agriculture in Nigeria and across West Africa. Speaking at the launch of the West Africa Trade and Investment Hub in Abuja yesterday, the United States Ambassador to Nigeria, Mary Beth Leonard, said the project would improve the overall business operations and enhance capacity to...
We Inherited A Bad Economy, FG Says As Tinubu Insists On 50m Jobs
The Federal Government, on Monday, said it inherited a bad economy with an unacceptable high rate of unemployment. The government also assured Nigerians that the administration of President Bola Tinubu will not rely on borrowing and that he had pledged to be transparent, honest and accountable to the people. Meanwhile, the President has promised to create about 50 million jobs through...
