BUSINESS
Investigator Says Buhari’s Nephew, Not Ex-President Approved Naira Redesign
The Special Investigator on the Central Bank of Nigeria and Related Entities, Jim Obazee, has indicated that the recent naira redesign wasn’t expressly approved by former President Muhammadu Buhari. Obazee had gathered that the approval came from Buhari’s aide, Sabiu Tunde ‘Yusuf’. This was contained in the investigator’s final report tagged, ‘Report of the Special Investigation on CBN and Related Entities...
Yuletide: FG Names Five Companies Involved In 50% Discounted Transportation Fare
The Federal Government has announced five transport companies to be involved in the agreement for the 50 percent fare cut during the Christmas festival. Recall that the Federal Government had, on Wednesday, announced that President Bola Tinubu has approved a price rebate of 50 percent for ordinary Nigerians travelling between December 21 and January 4, 2024. The price cut was to...
Nigeria’s Unemployment Rate Increased To 4.2% In Q2 2023 – NBS
The National Bureau of Statistics (NBS) says the unemployment rate in Nigeria increased to 4.2 per cent in Q2 2023 from the 4.1 per cent recorded in Q1 2023. The NBS said this in its Nigeria Labour Force Survey for Q2 2023, released in Abuja on Thursday. It said the unemployment rate was defined as the share of the labour force who were...
Trade Ministry, SMEDAN Plan MSMEs Academy
The Federal Government, through the Federal Ministry of Industry, Trade and Investment has begun talks with the United Nations Industrial Development Organisation to set up a formal academy to train and equip small business operators with the requisite knowledge to help their day-to-day activities and deepen their contributions to the country’s economic growth. The Ministry, the Small and Medium Enterprises...
Why There Was Huge Increase In Domestic Debt – DMO
The Debt Management Office (DMO) said on Thursday that the inclusion of the N22.719tn securitised Ways and Means advances was responsible for the increase in Nigeria’s debt stock, especially the domestic stock. There were concerns by economists and analysts over the huge Ways and Means issued by the Central Bank of Nigeria, under Godwin Emefiele, to the former administration of...
Fubara Approves N100,000 Christmas Bonus For Rivers Civil Servants
Rivers State Governor, Siminalayi Fubara, has approved the sum of N100,000 for each civil servant in the State. The bonus will go to the thousands of workers in the different Ministries, Departments, And Agencies. The State Commissioner for Information and Communication, Mr. Joe Johnson said the approval was given on Tuesday for “immediate implementation to enable the civil servants to have...
FG Develops Framework For Enhancing Consumer Credit In Nigeria
The Minister of Industry Trade and Investment, Dr. Doris Uzoka Anite, said an efficient consumer credit system is a highly essential component of a successful economy, as it works to improve market efficiency and fill in gaps in consumption and productivity by providing consumers immediate access to credit and allowing them to purchase ahead of ability. The minister stated this at...
Gov. Sani Presents N458.3 Billion 2024 Budget To Kaduna Assembly
Kaduna State Governor Senator Uba Sani, yesterday presented a N458.3 billion budget for the 2024 fiscal year to the state’s House of Assembly for approval. The budget has N318.8 billion as capital expenditure and N139 billion as recurrent expenditure, reflecting a capital-to-recurrent ratio of 69.57 per cent to 30.43 per cent. Governor Sani said the budget prioritised capital spending in line...
Civil Service Must Change Its Reputation Of Inefficiency — Shettima
The Vice-President, Kashim Shettima, has said the civil service must walk away from its reputation of redundancy and inefficiency. Shettima, who also stressed the need to reposition the civil service, decried the changes in leadership dynamics across the board. According to a statement on Sunday by the Office of the Head of Civil Service of the Federation, Shettima who spoke at...
NLC Carpets World Bank For Advising FG To Sell Petrol N700 Per Litre
The Nigeria Labour Congress (NLC) has condemned the advice by the World Bank to the Federal Government to increase petrol prices to N750 per litre. NLC President, Joe Ajaero said this on Friday in Abuja in a statement, titled: ”World Bank’s N750 per litre for premium motor spirit is a threat to Nigerians economy”. It would be recalled that the World...
