Ekiti State’s First Lady, Olayemi Oyebanji, has called on market women to show compassion and avoid worsening the economic difficulties faced by Nigerians. She made the plea during a meeting with female market leaders (Iyalojas) from the state’s 16 local government areas in her office in Ado-Ekiti. Expressing concern over the high cost of food…
President Bola Tinubu has criticized labour unions in Nigeria, urging them to maintain peace and avoid frequent strikes. Speaking at the unveiling of the first phase of the Lagos Red Line Rail project in Ikeja, Tinubu expressed disapproval of the unions’ actions, stating that engaging in four strikes within nine months of an administration was…
Nigerian National Petroleum Company Limited (NNPC Ltd) has assured a seamless divestment process of the International Oil Companies (IOCs) from onshore and shallow water assets in the country, amid concerns over potential hurdles. NNPC Ltd emphasized that its role in the divestment of IOCs is that of a facilitator and not an obstacle. Mele Kyari,…
Senior Advocate of Nigeria, Mike Ozekhome, has criticised the policies of the President Bola Ahmed Tinubu-led administration, accusing it of pushing Nigeria back into a state of hunger and starvation reminiscent of the 1983 era. Ozekhome made these remarks during an appearance on Channels Television’s Politics Today, where he highlighted the negative impacts of removing…
The Nigeria Exchange Limited (NGX) witnessed a bearish trend on Wednesday, resulting in investors recording a loss of N700 billion. This downturn occurred just 24 hours after the Central Bank of Nigeria (CBN) raised the monetary policy rate to 22.75 per cent. The All-Share Index (ASI) declined by 1.27 per cent, falling below the 100,000…
The Federal Government of Nigeria has revealed plans to address the escalating prices of drugs across the country. Coordinating Minister of Health and Social Welfare, Prof Muhammad Pate, announced at a press briefing in Abuja that an executive order will soon be issued to tackle the issue in the short term. Prof Pate highlighted the…
Economists and policy analysts have expressed concern about the recent actions taken by the Central Bank of Nigeria (CBN) concerning the benchmark interest rate and other monetary policy matters in the country. The Monetary Policy Committee of the CBN increased the benchmark interest rate to 22.75 per cent, aiming to manage the country’s inflationary pressures….
Rt. Hon. Benjamin Okezie Kalu, the Deputy Speaker of the House of Representatives, has expressed the readiness of National Assembly members to make adjustments to their salaries as a necessary sacrifice to assist their constituents in coping with the current economic challenges in Nigeria. He noted that parliament had previously made similar sacrifices in 2020…
Ajuri Ngelale, the Special Adviser to President Bola Tinubu on Media and Publicity, has criticized the Nigeria Labour Congress (NLC) for staging a nationwide protest, which he described as needless. The protests, which took place in several Nigerian cities on Tuesday, were organized by the NLC to highlight the economic hardship and spiraling inflation facing…
Godswill Akpabio, the President of the Senate, has issued an apology to state governors for his recent comments regarding the alleged payment of N30 billion hardship allowance to them from the federation account. Akpabio’s remarks, made during last Tuesday’s plenary, were based on what he now acknowledges as an “unverified report.” In a statement titled…