BUSINESS
Nigeria’s Inflation Rises To 15.75%, Highest Since 2017
The inflation rate in Nigeria jumped in December to its highest level in more than three years, data released on Friday by the National Bureau of Statistics showed. Inflation stood at 15.75 per cent in January, compared with 14.89 per cent in December, marking the 16th straight month of increases. The consumer inflation rate in December was the highest since November...
Nigeria Has Lost N700 Billion In 12 Days Of #ENDSARS Protest – LCCI
The Lagos Chamber of Commerce and Industry (LCCI) says the Nigerian economy has lost N700 billion in 12 days due to the ongoing #EndSARS protests. There have been protests nationwide against the brutality of the special anti-robbery squad(SARS) of the police force. In a statement on Monday, Toki Mabogunje (pictured), LCCI president, said the protests have crippled economic activities in the...
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...
Gov. Ikpeazu Launches ‘Easy-Credit’ To Grant Abia Traders, Artisans Access To Funding
As part of efforts to boost small and medium sized businesses in Abia as well as stimulating economic growth, the State governor, Okezie Ikpeazu has unveiled Easy-Credit, a product of the Abia SME Microfinance Bank Limited. The product seeks to provide access to funding to Mico SMEs, particularly Traders, Artisan, and Enterprenus at single digit interest rates . At the product...
Nigeria To Pay More For Petrol Subsidy As Oil Prices Hit Two Month High
Oil prices continued their surge yesterday, hitting a two-month high amid projections that lack of production capacity and limited investment in the sector could lift crude between $90 and $100 a barrel this year. Specifically, tight supply and easing concerns about the potential hit to demand from the Omicron combined to jack up prices as Brent sold for $85.04 a...
Buhari Jets Out To Portugal, To Take Part In UN Ocean Conference
President Muhammadu Buhari will on Tuesday, June 28, depart Abuja on a State Visit to Portugal at the invitation of President Marcelo Rebelo de Sousa. The President, who will hold official talks with his Portuguese counterpart will be conferred with ...
Refineries Can’t Start Working Now — Kyari
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, has said the country’s moribund refineries cannot be quickly restored. Speaking in Abuja on Tuesday when he appeared before the House of Representatives ...
We Spent N42 Billion Fixing Pipelines In 6 Months – NNPC
The Nigerian National Petroleum Corporation, NNPC has said it spent a total of N41.98bn on pipeline repairs and management cost in the first half of this year. The NNPC disclosed this in its latest monthly oil report, saying, “Products theft and vandalism have continued to destroy value and put NNPC at the disadvantaged competitive position.” A total of 1,067 vandalised points...
Onitsha Seaport Will Drive Industrialization, Says Kalu
Following the successful completion of a trial barge trip (carrying containers) from Onne Port to Onitsha Port on Tuesday, former Governor of Abia State and Chief Whip of the Senate, Senator Orji Kalu has lauded the federal government for revamping Onitsha river port. According to Kalu, the resumed activities at Onitsha seaport will boost economic activities in the South East...
Banks Lose Over N1bn As Hoodlums Wreck ATMs, Branches
Deposit Money Banks (DMBs) in the country likely lost over a billion naira, last week, to the destruction of their facilities across the country by hoodlums hiding under the umbrella of the #End- SARS protests, findings by New Telegraph show. The protests, which began on October 7 with calls to disband the Special Anti- Robbery Squad (SARS), an infamous Police...
