Economy

*Stakeholders push for increased IGRs Tougher times await federal, states and local governments as subsidy on premium motor spirit (PMS) is set to erode over N7.7 trillion from the Federal Allocation Account by December this year.…
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In a move that has captured the attention of international observers and economists, Burkina Faso’s President Ibrahim Traore has made the decision to decline financial assistance from the International Monetary Fund (IMF). This…
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Former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele allegedly spent N18 billion to print just N1 billion worth of banknotes, a fresh investigation by the Economic and Financial Crimes Commission (EFCC) has revealed.The…
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The pan-Yoruba socio-political group, Afenifere, says President Bola Ahmed Tinubu’s administration is plunging Nigeria into an economic crisis that is worse than the Great Depression of 1929. The group stressed that Nigeria’s…
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Godswill Akpabio, Senate President While millions of Nigerians battling economic hardships, their 469-member National Assembly indulged in a staggering N344.85 billion spending spree for 2024. Data obtained by BusinessDay showed…
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…FG owes N250bn pensions as at May 2024 Yomi Gbadamosi regrets spending his whole adult life working in the federal civil service and retiring after 30 years. He feels he wasted his life for Nigeria. After retiring from service, he…
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*In the first six months of 2024, the nine oil-producing states shared N341.59 billion using the 13 per cent derivation formula. *A recent report by the National Bureau of Statistics (NBS) has disclosed the Nigerian states with the most…
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As of August 13, 2024, the black market exchange rate for the dollar to naira at the Lagos Parallel Market (also known as the black market) is as follows: buyers are purchasing dollars at ₦1,593, while sellers are offering dollars at…
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The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has revealed that each of the 109 senators in the National Assembly earns N1,063,860 million salary and allowances per month. RMAFC chairman, Mohammed Bello Shehu…
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…Excluding Anambra, Kaduna The Federal Capital Territory (FCT) and 34 states received 438 billion Naira in July from the federal government, according to Senior Advocate of Nigeria (SAN) Femi Falana, in a recent video posted by…
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