BUSINESS
We’ll Pursue Expansion Policies To Fight Recession – CBN
The Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, has said the bank will pursue expansionary monetary policies to fight recession because the fiscal policy was already constrained. Emefiele said this was necessary to curb the rising inflation and address recession in the economy. He said this was part of the resolutions of the Monetary Policy Committee meeting held...
Ex-Abia Governor, Ikpeazu Participates In Investment Promotion Event In Australia (Photos)
His Excellency Dr. Okezie Victor Ikpeazu, the former governor of Abia State, recently attended a two-day investment promotion event between the Australian and Nigerian governments. ABN TV gathered that the event was organized by the Nigerian High Commission in Australia, in collaboration with the Australia-Africa Chamber of Commerce. During the event, Dr. Ikpeazu delivered a keynote address on "Efforts by Sub-National...
200 Beneficiaries Emerge As Rep. Onuigbo Flags Off Empowerment Scheme (Photos)
In a bid to curb unemployment in his constituency the Honourable member representing Ikwuano/Umuahia Federal Constituency of Abia State, Hon. Sam Onuigbo on Thursday flagged off empowerment scheme for the people of the constituency in a bid to reduce the level of unemployment. The empowerment scheme is in collaboration with National Institute for Cultural Orientation, NICO. The five-day Strategic Training/Empowerment...
Petrol Price Now N151.56 Per Litre ― PPMC
THE price of petrol has been increased to N151.56 per litre, according to Pipelines and Product Marketing Company (PPMC), a subsidiary of the Nigerian National Petroleum Corporation, NNPC. In a statement obtained by Vanguard, D.O Abalaka of the PPMC stated: “Please be informed that a new product price adjustment has been effected on our payment platform. “To this end, the price...
CBN Resumes Sale Of Dollars To Bureax De Change
The Central Bank of Nigeria (CBN) has commenced sale of dollars to Bureax De Change (BDC). Announcing the development in a statement on Tuesday, the apex bank said $20,000 will be available to each eligible Bureau De Change (BDC) operator across the country.The sum, according to the apex bank, is to be sold to each BDC at the rate of...
El-Rufai Accuses Emefiele Of Introducing Naira Redesign To Help PDP Win Presidential Election
Governor Nasir El-Rufai of Kaduna State on Friday alleged that the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele introduced the naira redesign policy to help the Peoples Democratic Party (PDP) win the 2023 general elections. “Emefiele was appointed Central Bank Governor by the PDP originally. So, let’s not forget where he came from,” El-Rufai said at a...
We Can’t Bear It Anymore, Kaduna Residents Weep After Petroleum Price Increase
The price of Premium Motor Spirit (PMS) popularly known as petrol have gone up across Nigeria and residents of Kaduna are not finding it funny, saying that the situation “is becoming unbearable”. The increase in petrol price took Nigerians by surprise on Tuesday with many petrol stations including those of the Nigeria National Petroleum Company Limited (NNPCL) adjusting their pump...
Kano Governor, Yusuf Clears N6b Gratuity Of 5,500 Retirees
Governor Abba Kabir Yusuf of Kano State, on Saturday, commenced the payment of N6 billion gratuities and death benefits to 5,500 pensioners across the state. The governor inaugurated the payment at a grand ceremony held at the Coronation Hall, Government House in Kano on Saturday. Speaking at the event, Governor Yusuf said the gesture was part of his campaign promises aimed...
National Assembly To Raise 2021 Budget By N500bn
The National Assembly is billed to pass the 2021 Appropriation Bill today, raising the total estimated from the proposed N13.08tn to N13,588,027,886,175, an increase of over N500bn. This has been made known in the report by the House of Representatives Committee on Appropriations on the national budget. Both the Senate and the House of Representatives are holding special sessions today mainly...
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...
