Economy
The Federal Government has announced plans to train 100,000 artisans across Nigeria under the Skill Up Artisan Super initiative, a flagship programme of President Bola Tinubu’s administration aimed at transforming the country’s artisan workforce to meet international standards. This announcement was made through the Industrial Training Fund (ITF) during the inauguration of the South-West Secretariat […]
Nigeria’s domestic petrol price is currently 55% lower than the average across West African countries, largely due to local refining by the Dangote Petroleum Refinery. The facility, which sells petrol at between ₦815 and ₦820 per litre, significantly undercuts the regional average of approximately ₦1,600 per litre (\$1). This revelation was made during a high-level […]
Former Vice President Atiku Abubakar has delivered a stern rebuke of the Federal Government’s proposed debt acquisition strategy under President Bola Tinubu, characterising the move as fiscally irresponsible and dangerously detrimental to the nation’s long-term economic stability. In a statement disseminated via social media on Thursday, Atiku expressed grave concern over the administration’s intention to […]
Nigeria’s total public debt is projected to rise to approximately ₦162.025 trillion following the federal government’s request for fresh borrowings under the 2025-2026 external financing plan. President Bola Ahmed Tinubu has sought National Assembly approval for loans amounting to $21.5 billion, €2.19 billion, 15 billion Japanese yen, and a €65 million grant equivalent to ₦17.355 […]
President Bola Ahmed Tinubu has received a high-level update on the Nigeria-China Strategic Partnership (NCSP) from its Director-General and Global Liaison, Mr. Joseph Tegbe, during a meeting at the Presidential Villa. The engagement focused on the evolving dynamics of Nigeria’s strategic relationship with the People’s Republic of China and the tangible gains recorded so far. […]
The latest foreign exchange data released by the Central Bank of Nigeria indicates a marginal depreciation of the Naira against the United States Dollar. On Thursday, the official exchange rate slipped to ₦1,584.95 per dollar, compared to ₦1,584.49 recorded the previous day—reflecting a day-on-day decline of 46 kobo. In contrast, activity within the parallel market […]
The price of a 50kg bag of rice has fallen to as low as N58,000 in several parts of Nigeria, particularly in remote border regions, following a surge in imports from the Republic of Benin, according to a report by S&P Global. The report notes that the West African parboiled rice market has slumped to […]
Between July 2023 and September 2024, approximately N19.43bn was spent on maintaining and operating Nigeria’s Presidential Air Fleet (PAF), according to The PUNCH, using data from GovSpend, a platform that tracks government expenditures. For 2024 alone, N13.55bn was disbursed, accounting for 66% of the yearly budget for the fleet. The majority of these funds were […]
The Executive Vice Chairman and CEO of the Federal Competition and Consumer Protection Commission, Mr. Tunji Bello, has urged electricity distribution companies (DisCos) to uphold consumer rights, especially in the metering processes. He made this appeal on Tuesday at a meeting in Abuja, attended by key stakeholders in Nigeria’s electricity sector and FCCPC officials. “We […]
The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) has voiced grave concerns over the relentless exodus of businesses from Nigeria, driven largely by detrimental government policies. Dele Oye, President of NACCIMA, articulated this apprehension in a statement on Monday, following the announcement by Pick n Pay, a major South African retail […]
