Economy

The House of Representatives is set to amend the 2024 Appropriation Act to approve an additional N6.2 trillion for unspecified capital projects. The proposed amendment, detailed in a bill sponsored by the Majority Leader, Hon.…
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*The Minister of Women Affairs, Uju Kennedy-Ohanenye, on Monday, declared that there is no big deal in spending ₦1.5m to fuel six cars for an official journey to Anambra State According to her, everyone knows how much petrol costs…
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The Central Bank of Nigeria (CBN) has resumed sales of foreign exchange to Bureau De Change (BDC) operators, ending a four-month suspension. On Friday, July 12, 2024, the apex bank sold $122.67 million to 46 authorized dealers,…
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The National Bureau of Statistics (NBS) has reported that Nigerian public officials received N721 billion in bribes in 2023. This is presented in the “Corruption in Nigeria: Patterns and Trends” report, which was based on a survey…
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Kenyan President William Ruto has scrapped the budgets for the offices of first and second ladies. The embattled Kenyan leader also dissolved 47 state agencies in a move to cut down government expenditure and pacify dissatisfied…
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By William Emmanuel Ukpoju In a move to address Nigeria's economic challenges, President Bola Tinubu has inaugurated the Presidential Economic Coordination Council (PECC) and launched the Economic Stabilization Programme. The…
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The Central Bank of Nigeria, CBN, raised N284.26 billion from investors in its latest Nigerian Treasury Bills (NTBs). The auction, which took place on Wednesday, attracted a total subscription amounting to N773.98 billion, far…
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Arguments against continuous monetary policy tightening by the Central Bank of Nigeria (CBN), as a sure way of reining in inflation has received international boost, with the World Bank toeing the same line in its latest report. The…
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The widespread economic hardship being witnessed in Nigeria has worsened as the nation’s food inflation climbed up to 40.66 per cent in May 2024 from 24.82 per cent as recorded in the same period last year. The National Bureau…
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An op-ed featured on Business Insider by Huileng Tan highlights the BRICS group’s ongoing initiatives aimed at diminishing reliance on the US dollar. Last year, Brazilian President Luiz Inácio Lula da Silva proposed the idea of a…
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