Finance Minister Wale Edun has highlighted that only around 5% of Nigerians possess more than N500,000 in their bank accounts. Speaking in an interview with Channels TV, Edun emphasized that recent government reforms aim to address economic disparities that have favored a small elite group over the majority of citizens in the past eight…
Following a public hearing on the ban of spirits and alcoholic beverages in sachets and pet bottles, the House of Representatives Committee on the National Agency on Food, Drugs Administration and Control (NAFDAC) has directed the suspension of the ban. Chairperson of the Committee, Rep. Regina Akume, emphasized the importance of taking proper steps before…
The National Bureau of Statistics (NBS) has reported a significant rise in the average retail price of a liter of petrol, soaring from N257.12 in January 2023 to N668.30 in January 2024. This revelation was made in the NBS’s Petrol Price Watch for January 2024, which was issued in Abuja on Thursday, February 22. The…
The Director-General of the World Trade Organization (WTO), Dr. Ngozi Okonjo-Iweala, has expressed that she is currently too preoccupied to entertain the idea of pursuing a potential second term leading the global organization. Iweala emphasized her current focus on addressing pressing matters within the Geneva-based trade body before considering any future candidacy. “At this moment,…
Grains are reportedly still awaiting distribution to Nigerians, even two weeks after President Bola Tinubu issued a directive to the Ministry of Agriculture. Following President Tinubu’s directive two weeks ago, instructing the Ministry of Agriculture and Food Security to release 42,000 metric tons of maize, millet, and other commodities from the national strategic reserve to…
Senator Ali Ndume asserted that the depreciation of the naira against the dollar is not causing losses to the federal government; rather, it is yielding increased revenue to finance the 2024 budget. Speaking on Channels TV, Ndume emphasized that the budget presented by President Bola Ahmed Tinubu in November 2023 is predominantly dependent on dollar-denominated…
At the opening of the 2024 First Plenary Assembly of the Catholic Bishops Conference of Nigeria (CBCN), Olayemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), emphasized the challenges of his role, stating it to be the second most demanding globally. As the Chairman of the occasion, Cardoso expressed optimism about the Federal…
The Nigeria Customs Service (NCS) has made a significant interception in Sokoto State, seizing 15 trucks loaded with food items. This action is part of the NCS’s ongoing efforts to curb smuggling activities that contribute to the soaring prices of essential commodities across the nation. Abubakar Chafe, the spokesperson for the NCS Sokoto Command, disclosed…
Troops of the Nigerian Army have intercepted trucks suspected of transporting prohibited goods to the Republic of Cameroon. The trucks, each loaded with 600 50kg bags of cement, were showcased to journalists at the Nigeria Police headquarters in Yola, the capital of Adamawa State, on Friday. Adamawa State Governor, Ahmadu Fintiri, had issued an Executive…
Labour unions have declared their intention to organize a nationwide mass protest to draw attention to the prevalent economic hardship experienced by Nigerians. The decision to stage the protest stems from the escalating economic challenges plaguing the country, including soaring inflation rates, increased cost of living, and widespread unemployment. These issues have significantly impacted the…
