A recent review of the Central Bank of Nigeria’s (CBN) monthly economic reports has unveiled a staggering revelation: Nigeria spent a jaw-dropping $2.62 billion on the importation of petroleum products within just three months—between November 2024 and January 2025.According to the report obtained by Sahara Reporters, petroleum imports amounted to $0.99 billion in November, slightlyContinueContinue reading “Bleeding Reserves: Nigeria Spends $2.62 Billion on Fuel Imports Despite Refinery Promises”
Category Archives: ECONOMY
Peter Obi Mocks Tinubu’s ‘Promise Kept’ as Naira Plunges, Economy Worsens
Former Labour Party presidential candidate Peter Obi has taken a sharp jab at President Bola Tinubu’s administration, sarcastically commending him for fulfilling his pledge to continue where former President Muhammadu Buhari left off.Speaking during a visit to Bauchi State Governor Bala Mohammed on Thursday, Obi decried the deteriorating economic situation in Nigeria, citing the rapidContinueContinue reading “Peter Obi Mocks Tinubu’s ‘Promise Kept’ as Naira Plunges, Economy Worsens”
House of Representatives Set to Pass President Tinubu’s Tax Reform Bills in Landmark Legislative Move
Nigeria’s legislative landscape is poised for a significant shift as the House of Representatives prepares to pass President Bola Ahmed Tinubu’s tax reform bills today.The news was officially disclosed by Nigerian Stories on its X handle, setting the stage for what could be a transformative moment in the nation’s economic framework.These tax reform bills, aContinueContinue reading “House of Representatives Set to Pass President Tinubu’s Tax Reform Bills in Landmark Legislative Move”
“Sacrifice or Extravagance? Tinubu’s Government Urges Nigerians to Endure Hardship Amid N83 Billion Travel Spending”
The administration of President Bola Tinubu has once again urged Nigerians to endure economic hardship, insisting that sacrifices are necessary for national progress. However, this appeal comes against the backdrop of shocking revelations that the government has spent a staggering N83 billion on both local and international trips within just one year.Despite the deepening economicContinueContinue reading ““Sacrifice or Extravagance? Tinubu’s Government Urges Nigerians to Endure Hardship Amid N83 Billion Travel Spending””
Ramadan Relief or Political Rhetoric? Tinubu Claims Food Prices Are Dropping Amid Economic Hardship
President Bola Ahmed Tinubu on Friday asserted that food prices in Nigeria are now declining, offering relief to fasting Muslims during Ramadan. His statement comes amid widespread economic distress fueled by his administration’s controversial policies, including the removal of fuel subsidies and naira devaluation, which have deepened poverty nationwide.Despite the harsh realities on the ground,ContinueContinue reading “Ramadan Relief or Political Rhetoric? Tinubu Claims Food Prices Are Dropping Amid Economic Hardship”
Shocking Revelation: FG Spent $8 Billion to Stabilize Naira Amid Economic Crisis – Expert
In a startling revelation, Bismarck Rewane, the CEO of Financial Derivatives Company, has disclosed that the Federal Government has expended approximately $8 billion in a desperate bid to stabilize the naira amidst mounting economic pressures. This revelation, shared via the official X handle of Nigerian Stories, has ignited intense debates over the government’s economic strategiesContinueContinue reading “Shocking Revelation: FG Spent $8 Billion to Stabilize Naira Amid Economic Crisis – Expert”
FIRS Unveils New Withholding Tax Rules to Strengthen Economy, Curb Evasion
ABUJA – In a bold move to enhance revenue generation and foster economic stability, the Federal Inland Revenue Service (FIRS) has commenced the implementation of a revamped withholding tax system. The initiative, according to the tax authority, is set to streamline tax collection, curb evasion, and bolster national development.Collins Omokaro, Special Adviser on Communication andContinueContinue reading “FIRS Unveils New Withholding Tax Rules to Strengthen Economy, Curb Evasion”
CBN Governor Cardoso Vows to Tame Inflation, Stabilize Nigeria’s Economy
In a renewed commitment to rescuing Nigeria’s struggling economy, the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has reaffirmed the apex bank’s determination to curb inflation and stabilize the nation’s financial system.Cardoso’s declaration, which was announced via Nigerian Stories’ official X handle, comes at a time when Nigerians are grappling with skyrocketingContinueContinue reading “CBN Governor Cardoso Vows to Tame Inflation, Stabilize Nigeria’s Economy”
CBN Assures Nigerians: Naira Will Stabilize as Investors’ Confidence Grows
In a bold reassurance to Nigerians amid ongoing economic turbulence, the Central Bank of Nigeria (CBN) has reaffirmed its commitment to stabilizing the naira, emphasizing that the local currency will regain strength as investor confidence continues to improve.The apex bank’s statement, shared via its official X handle, comes at a time when the naira hasContinueContinue reading “CBN Assures Nigerians: Naira Will Stabilize as Investors’ Confidence Grows”
CBN Projects Economic Growth Amid Falling Inflation in 2025
Nigerian Stories has reported via its official X handle that the Central Bank of Nigeria (CBN) is optimistic about the nation’s economic trajectory, forecasting a significant decline in inflation and projecting economic growth of 4.1% by the end of the year. This announcement has sparked discussions across economic and political circles, with many hoping forContinueContinue reading “CBN Projects Economic Growth Amid Falling Inflation in 2025”
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