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Economy

Following the increasing cost of living, a Federal High Court sitting in Lagos has ordered the federal government to fix the prices of petrol, diesel, kerosene and other goods within seven days from February 7, 2024. Trial judge, Justice Ambrose Lewis-Allagoa, specifically ordered the government to fix the prices of milk, flour, salt, sugar as […]

Nigeria’s crude oil sales has risen by 46.41 per cent to push Nigeria’s total export to N26.79tn in 2022. This is as total trade rose by 31.79 per cent from N39.75tn in 2021 to N52.39tn in 2022. In 2022, crude oil sales totalled N21.09tn, a 46.41 per cent increase from N14.41tn in 2021. In 2022, […]

The federal government generated a total of N2.83 trillion from company income tax CIT, in 2022, an increase of 116 percent from its 2021 figure. The National Bureau of Statistics NBS disclosed this in its recent CIT report for the fourth quarter of 2022. Poor revenue generation has continued to pose a challenge to Nigeria’s finances, ultimately […]

 The Socio-Economic Rights and Accountability Project, SERAP, is urging President Muhammadu Buhari to reveal plans his administration is taking to obey the recent Supreme Court order on the naira redesign. Last week, the Supreme Court extended the validity of the old N200, N500, and N1,000 Naira notes till 31 December, stating that the Central Bank […]

Shortly after extending the deadline for the collection of old naira notes, the Central Bank of Nigeria CBN has directed banks to commence immediate over-the-counter cash payments to their customers with a fixed daily amount of N20,000. The move it says, is to reduce queues at Automated Teller Machines terminals across the country. Similarly, the Federal Government […]

In a bid to justify his actions, the Minister of Labour, Employment and Productivity, Dr. Chris Ngige, is saying that lack of transparency on the part of the leadership of the Academic Staff Union of Universities made the Federal Government register rival trade unions in the university system. The minister made this known in his […]

The Federal Government has said that at least 7,000 artefacts that were stolen from the Benin Kingdom are expected to be repatriated by Germany to Nigeria not later than October 2021. This follows the advanced stage of discussions between Nigeria and Germany on the return of thousands of different pieces of Benin bronzes back to […]

Over 1.27 million subscribers were lost in the month of May by MTN Nigeria, Globacom, Airtel Nigeria and 9mobile as the companies bleed amid their data war. The month ended with Airtel becoming the biggest loser having lost 906,669 data users. This loss dwindled the telco’s customer base from 37.02 million of April to 36.12 […]

The Bayelsa Livestock Management Committee (BSLMC) has impounded 34 cows in Yenagoa, the state capital for violating the anti-open grazing law. Chairman of BSLMC, Mr David Alagoa, told journalists that the herders chose a convenient time in the night to graze. He noted that some of the cattle were spotted grazing on farmlands. Alagoa who […]

Experts have called for the preservation of bees as parts of efforts towards achieving food security in Nigeria. They spoke in Abeokuta, the Ogun State capital, during an event organised by the Apicultural Association of Ogun State to commemorate the 2021 World Bee Day. Prof. Olusegun Lawal of the Olabisi Onabanjo University, Ago-Iwoye, Ogun State, […]