Category: Economy
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UK Unemployment Rate Falls to 4.0% as Wage Growth Slows
The UK’s unemployment rate fell slightly to 4.0% in the three months ending in August, down from 4.1% in the previous period, according to data released by the Office for National Statistics (ONS) on Tuesday. Meanwhile, wage growth has slowed, marking a drop in average earnings for workers. The ONS reported that annual growth in…
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Fuel Subsidy Removal: Kwara set to receive 5,000 electric tricycles
Stephen Olufemi Oni, Ilorin Amid incessant rising costs of fuel in Nigeria, Kwara State is set to be flooded with commercial electric tricycles to ease transportation problem in the State. This was disclosed on Thursday at the stakeholders meeting held on Electric Tricycles Acquisition Scheme in Ilorin, the state capital. Addressing the stakeholders, the Director-General…
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Court Summons Yahaya Bello Over Alleged N110bn Fraud
The High Court of the Federal Capital Territory in Abuja has summoned former Kogi State Governor Yahaya Bello for arraignment on October 24. This summons comes as Bello faces 16 new charges filed by the Economic and Financial Crimes Commission (EFCC), alongside co-defendants Umar Oricha and Abdulsalami Hudu. Bello had previously been declared wanted after…
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Witness Claims Naira Notes Released by Emefiele Differed from Buhari’s Approval
Abuja – A former acting Governor of the Central Bank of Nigeria (CBN), Folashodun Shonubi, testified on Wednesday before Justice Maryann Anenih of the Federal Capital Territory High Court in Abuja, revealing that the naira redesign executed by the CBN in 2022 was not in line with what former President Muhammadu Buhari had approved. Shonubi,…
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There’s Anger, Hunger in Nigeria, Youths Tell FG Tinubu
IBADAN— A group of Nigerian youths has urged political leaders to demonstrate exemplary leadership to mitigate the pervasive anger and hunger in the country. This call to action came during a media chat at the Alumni Building of the University of Ibadan, where they gathered to discuss their anthology, All the Colours of Madness. The…
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The Unyielding Hard Times and Policy Choices: Mr. President Must Speak Up, as Hopes Remain Unfulfilled
By: A.G. Abubakar There is a parallel between managing a distressed economy and going to war. In both situations, the choice of the battles and fronts to be attacked should be based on such principles as critical paths analysis, existing capacity (men, material, terrain) of the “foe” and available options. Choices are usually informed by…
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ECOWAS Parliamentarians Decry Declining Community Levy Remittances
The Parliament of the Economic Community of West African States (ECOWAS) has voiced concerns over diminishing remittances of the community levy by several member countries. This issue was highlighted during the closing ceremony of a two-day induction session for parliament members, led by Speaker Rt. Hon. Memounatou Ibrahima in Lomé, Togo, as part of the…
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FG Releases N24.78 Billion To 991,261 Household In Nigeria
From Lateef Taiwo The Federal Government of Nigeria has released N24.78 billion to support 991,261 households across the 36 states and the FCT Abuja. The National Coordinator and CEO of the National Cash Transfer Office under the National Social Investment Agency, Assoc. Prof. Badamasi Lawal PhD made this known in a statement in Abuja said…
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LCCI Calls for Strategic Measures to Address High Inflation and Interest Rates
The Lagos Chamber of Commerce and Industry (LCCI) has called on monetary and fiscal authorities to address the underlying issues contributing to high inflation rates in Nigeria, particularly concerning food and core categories. Dr. Chinyere Almona, Director General of LCCI, made this appeal in a statement released to the press on Wednesday in Lagos. Dr.…
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Nigeria’s Unemployment Rate Rises to 5.3% in Q1 – Report
Nigeria’s unemployment rate saw a slight increase to 5.3% in the first quarter of 2024, up from 5.0% in Q3 2023, according to a report released by the National Bureau of Statistics (NBS) on Tuesday. Females experienced a higher unemployment rate of 6.2%, compared to 4.3% for males. In urban areas, the unemployment rate remained…