Category: Economy
-
Nigeria’s Inflation Rate Rises to 33.88% in October – NBS
The National Bureau of Statistics (NBS) has reported an increase in Nigeria’s inflation rate, which rose to 33.88% in October 2024. This marks a 1.18% rise compared to 32.70% recorded in September 2024. Year-on-Year Inflation Increase On a year-on-year basis, the inflation rate in October 2024 was 6.55% higher than the 27.33% recorded in October…
-
Electricity Consumers Protest as DisCos Hike Prices of Prepaid Meters
Electricity consumers in the Federal Capital Territory (FCT) have voiced strong opposition to the recent increase in prepaid meter prices by Electricity Distribution Companies (DisCos). The price hikes, effective from November 5, follow a previous increase in August, and have raised concerns about the affordability of prepaid meters amid Nigeria’s ongoing economic challenges. DisCos announced…
-
EMIR Extols GOV Idris’ Economic Dev. Strategy.
By : Our Correspondent The Emir of Zuru, Major-General Muhammadu Sani Sami Gomo ll, has restated his conviction that Kebbi state will witness an unprecedented economic development under the leadership of comrade Governor Nasir IdrisThe Emir’s observations were contained in a goodwill message made available at the occasion of the flag off of the construction…
-
Naira Appreciates to N1,725/$ in Parallel Market
By Aaior K. Comfort The Nigerian Naira appreciated in the parallel market, rising to N1,725 per dollar yesterday from last week’s rate of N1,735. However, it showed a contrasting trend in the Nigerian Autonomous Foreign Exchange Market (NAFEM), where it depreciated to N1,676.9 per dollar, compared to N1,666.72 per dollar last Friday. According to data…
-
Zulum Advocates Chinese Model for Choosing Leaders in Nigeria
Borno State Governor, Babagana Umara Zulum, has suggested adopting the Chinese model for leadership selection in Nigeria. Speaking at the 24th National Conference of the Nigerian Institution of Agricultural Engineers held recently at the Nigerian Society of Engineers headquarters in Abuja. Zulum emphasised the need for a more structured and merit-based approach to election into…
-
Hardship: Gov AbdulRazaq approves bonus for Kwara workers
Stephen Olufemi Oni, Ilorin Kwara State Governor AbdulRahman AbdulRazaq has approved a financial bonus that is equivalent to the monthly PAYE obligation for every civil servant in the state, including local government workers. The emergency support measure,according to a statement by the Commissioner for Finance, Dr. Hauwa Nuru, would last for at least three months,…
-
House of Representatives Urges Federal Government to Involve Local Refiners in Petroleum Production
October 31, 2024 — The House of Representatives has urged the Federal Government to create a comprehensive plan to incorporate indigenous refiners into Nigeria’s petroleum production value chain. This resolution came after a motion was adopted to reform and regulate the country’s petroleum industry, emphasizing the need to integrate artisanal refiners. Deputy Minority Whip Mr.…
-
Fuel Marketers Challenge Dangote to Review PMS Prices Amidst Non-Patronage Concerns
The Petroleum Marketers Association of Nigeria (IPMAN) has urged Aliko Dangote to reevaluate the price of Premium Motor Spirit (PMS) from his refinery, suggesting it might be a key factor in low patronage from marketers. IPMAN’s call for a price review follows Dangote’s statement that despite having over 500 million liters of petrol stored at…
-
Kwara Gov directs implementation of N70,000 new minimum wage from October
Stephen Olufemi Oni, Ilorin Kwara State Governor AbdulRahman AbdulRazaq has approved the new minimum wage of N70,000 as announced by the Federal Government of Nigeria, according to a statement by the Commissioner for Finance Dr. Hauwa Nuru. The statement added that the approved wage will be implemented across the Kwara State public service, with immediate…
-
Women in Engineering Advocate for Greater Inclusion in Mining Sector
Dr. Adebisi Osim, President of the Association of Professional Women Engineers of Nigeria (APWEN), has emphasized the need for more inclusion of women in Nigeria’s extractive industries, particularly in the mining sector. Speaking at the sixth edition of the Nkechinyere Isigwe Annual Lecture in Abuja, Osim highlighted the economic significance of the mining sector and…