Customs Service To Distribute Confiscated Food Items As Hunger Bites Nationwide
The Nigeria Customs Service (NCS) has expressed its readiness to distribute seized food items to Nigerians to help mitigate the current hardship in the land. It said the distribution will be done after all the food items have been certified fit for human consumption. Recall that hundreds of young Nigerians had taken to the streets in some parts of the country...
Hardship For Nigerians As Inflation Hits Highest Since 2005 At 20.5%
Nigerians are gasping for breath as the inflation rate rose by 0.92 basis points to 20.52 per cent in August from 19.6 per cent in July, the highest since October 2005. This represents the seventh consecutive monthly rise in Headline inflation since February. Food inflation also rose to 23.12 per cent in August 2022, representing a 1.1 percentage-point increase compared...
Africa’s Economic Policies Rely On Borrowed Concepts — Moghalu
Kingsley Moghalu, the president of the African School of Governance and a former deputy governor of the Central Bank of Nigeria, has criticized Africa's economic strategies for lacking originality and philosophical depth. Speaking on the theme “Leadership in Africa” during the Toyin Falola interviews on Monday, Moghalu condemned the reliance on ineffective, borrowed ideas from the West that fail to...
FG To Cut Agencies To Reduce Governance Cost – Finance Minister
The President, Muhammadu Buhari, has approved the implementation of the Steve Oransaye Committee report on the rationalisation of government agencies. The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, disclosed this while appearing on a Channels TV programme, Politics Today. The Presidential Committee on the Rationalisation and Restructuring of Federal Government Parastatals, Commissions, now commonly referred to as the...
Costs Of Food, Gas, Fuel Push Inflation To 28.20%, Says NBS
Following the rise in the costs of food, fuel, energy, electricity, and others, the National Bureau of Statistics (NBS) on Friday, December 15, said the inflation rate rose from 27.33% in October 2023 to 28.20% in November 2023. Accounting for the cause of the increase in inflation, the Bureau said food and non-alcoholic beverages costs rose to 14.61%. It also noted that clothing...
Young Nigerians To Undergo Training On Cultural Tourism Economy In China
Young Nigerians will undergo critical cultural tourism training in China, which is strategically billed to reduce unemployment and crime, and also mobilise the youths to drive the Nigerian creative cultural tourism economy. The cheering development was disclosed by the Director General of the National Council for Arts and Culture (NCAC), Otunba Segun Runsewe, who is leading an African delegation to...
FG earned N5.04tn from oil sale in 11 months – CBN
Between January and November last year, the Federal Government made about N5.04tn from the sale of oil, figures obtained from the Central Bank of Nigeria have revealed. The oil revenue, according to the CBN economic report for November, was lower than the N8.77tn revenue target provided for in the 2019 budget for the 11-month period. A breakdown of the N5.04tn oil...
Obaseki plunges Edo into foreign debt with no result to show, DMO reports says
A report from Nigeria’s Debt Management Office (DMO) has shown that Edo State sunk into scary levels of foreign debt under the administration of Governor Godwin Obaseki. According to the data, Edo State has a foreign debt profile of $276.25m representing 6.53 per cent of the sub-national foreign debt portfolio, a figure second only to Lagos State. In spite of this...
Reps Moves Legalise Use Of Indian Hemp, Cites Economic Benefits
The House Of Representatives is set to legalise the use of Indian Hemp in the country for economic benefit. Spokesperson of the House of Representatives, Hon. Benjamin Kalu said this during a press conference on the benefits and opportunities of Cannabis in Akure, Ondo state capital Kalu said that the House of Representatives has concluded an arrangement to organize a two-day...
Enugu Loses N10bn Weekly Over Sit-At-Home, Says Gov. Mbah
The Governor of Enugu State, Peter Mbah, says the sit-at-home enforced by a faction of the Indigenous People of Biafra in the South-East is causing the state to lose over N10 billion every Monday. The governor made this disclosure on Thursday in Enugu at a meeting with the Presidents-General (PGs) of all the autonomous communities in the state. He said the...
