Category Archives: ECONOMY

In a bold move to address soaring food prices, the Nigerian government under President Bola Tinubu has unveiled a series of dynamic measures aimed at stabilizing the nation’s food supply and curbing inflation. The Minister of Agriculture and Food Security, Senator Abubakar Kyari, announced these strategic initiatives, set to unfold over the next 180 days.ContinueContinue reading “Tinubu Administration Eliminates Rice Import Tariffs, Prepares to Import 500,000 Metric Tonnes of Maize and Wheat to Combat Food Inflation”

The Nigerian netizens on X (formerly Twitter) have started calling for the total rejection of the ruling All Progressives Congress (APC) in the country’s political space. This agitation was trended via the hashtag #EndAPCNow, which already had over 16,000 engagements on X at the time of filing this report. The netizens criticised the current governmentContinueContinue reading “Nigerian Tweeps Demand End To APC Rule With #EndAPCNow, Cite Widespread Hardship, Poor Governance”

The Nigeria Labour Congress (NLC) has said it categorically rejected the attempt by some governors to arbitrarily determine the minimum wage for workers, stating that the approach would exacerbate poverty and insecurity in the country.  In a statement released on Friday, the NLC responded to recent comments made by governors seeking to pay workers whateverContinueContinue reading “State Governors Can’t Dictate What To Pay As Minimum Wage And Keep Workers In Poverty – NLC Fumes”

Minister of Solid Minerals Development, Dele Alake, has announced Nigeria’s first gold commercial transaction under the National Gold Purchase Program (NGPP). It is a centralised offtake scheme supported by a decentralised aggregation and production network of artisanal and small-scale miners and cooperatives, Alake said in a post on his X account on Sunday. The ministerContinueContinue reading “Nigeria Announces First Commercial Gold Transaction, Injects Over $5Million Into Economy”

Nigeria’s reintroduction of a gasoline subsidy months after it was scrapped is expected to guzzle almost half of its projected oil revenue this year, according to the International Monetary Fund. The implicit subsidy will cost Africa’s largest crude producer an estimated 8.43 trillion naira ($5.9 billion) of its projected 17.7 trillion naira of oil revenue,ContinueContinue reading “Tinubu’s Reinstated Fuel Subsidy Will Drain Almost Half Of Nigerian Oil Revenue In 2024, IMF Warns”

As the cost of living and inflation continue to skyrocket in Nigeria, the Association of Table Water Producers has said that a sachet of water could soon sell for 100. The association said this on Wednesday during a press conference where it lamented the rising cost of production which is “crippling their business and forcingContinueContinue reading “Nigerians May Soon Buy One Sachet Water For N100, Says Association of Table Water Producers”

A civic group, the Coalition for Revolution (CORE) has called on Nigerians to come out in their numbers on Monday to join the protest against the hardship, high cost of living occasioned by devaluation of naira, a result of bad policies of President Bola Tinubu administration. The group which stated this in a statement madeContinueContinue reading “Coalition For Revolution, CORE Calls On Nigerians To Join Monday’s Mass Protest Against Hardship, Hunger Inflicted By Tinubu Government”

As part of temporary measures to address the rising food shortages occasioning a high cost of living, President Bola Tinubu has directed the immediate release of 42,000 metric tons of assorted food items from both the Strategic Reserve and the Rice Millers Association of Nigeria. It was reported on Wednesday that Nigerians in more statesContinueContinue reading “President Tinubu Approves Release Of 42,000 Tons Of Grains To Address ‘Rising Food Cost’”

The House of Representatives on Thursday said it stands with Nigerians in their cry for an improved standard of living.The Speaker of the House, Abbas Tajudeen, made this known at a world press conference in Abuja on Thursday, while appealing to Nigerians to be patient with the government in the face of economic hardship. TajudeenContinueContinue reading “House Of Reps Speaker, Abbas Lays Out Plans To Address Food Crisis, Economic Downturn In Nigeria”

The House of Representatives on Tuesday, February 6, 2024, will hold the second edition of its sectoral debates/dialogue as part of its periodic policy brief series.  The second edition, according to a statement issued late Monday by House spokesman, Akin Rotimi, is “billed for the financial sector and is scheduled to feature key stakeholders inContinueContinue reading “House Of Representatives To Engage Central Bank Governor, Ministers On Economic Downturn”