Consumer prices remain stubbornly elevated in Nigeria, as the February Consumer Price Index (CPI) reading otherwise known as inflation, released yesterday by the National Bureau of Statistics (NBS) indicated that headline inflation scaled by 1.8 percentage points (ppts) to 31.7%, the highest level since April 1996. The inflation rate, which was a negative surprise to analysts, outpaced the Bloomberg consensus …

The Nigeria Customs Service (Tin Can Island Port command), Lagos have intercepted a large quantity of assorted arms, ammunition, heroine, cannabis, amongst others, in their renewed efforts to curb illicit imports into the country. Area Controller of the Command, Comptroller Deira Nnadi, who disclosed this at a press conference on Friday, said the seizures included 12 rifles pump action guns, …

President Bola Tinubu has directed the Federal Ministry of Communications, Innovation, and Digital Economy; the Federal Inland Revenue Service (FIRS), and the Federal Ministry of Environment to align regulations and tax frameworks to facilitate investment expansion in telecommunications and broadband infrastructure nationwide. The President issued the directive at a meeting with a delegation from American Tower Corporation (ATC) Nigeria at …

The Minister of Finance and Coordinating Minister of the Economy, Chief Wale Edun has blamed the current inflation in the country on printing of trillions of Naira “without productivity” during the administration of President Muhammadu Buhari, which ended last 29th May. During an interface with the Senate Committee on Finance on Wednesday, the minister said: “We are going to audit …

Former President Olusegun Obasanjo, on Monday, advised that Nigeria should approach the government of Zimbabwe for a solution to the current all-time high inflation in the country. He noted that since Zimbabwe was recently confronted with the same problem and came out of it, the southern African country would have useful advice for Nigeria. In its latest release, the National …

The African Development Bank Board (AfDB) of Directors has approved $134 million for Nigeria to implement an emergency food production plan, AfDB President Akinwumi Adesina has said. According to him, talks are also ongoing for a $1.7 billion economic and budget support loan as well as the launch of a $1 billion agro-industrial processes in 28 states. Adesina made the …

Tea makers popularly known as Mai shayi say their business is witnessing low patronage, especially for Indomie noodles as the price continues to increase rapidly. They spoke to newsmen in Abuja on Sunday while reacting to the incessant increase in the price of Indomie instant noodles. It was reported that Mai shayi, which means tea makers in the Hausa language, is …

Comprehensive data on the pattern and quantity of energy mineral lithium are available at the Nigerian Geological Survey Agency for businesses interested in establishing lithium companies in Nigeria. Solid Minerals Development Minister, Dr. Oladele Alake made this disclosure in Doha, Qatar on Saturday at a meeting with Qatari businessmen on the sidelines of the visit of President Bola Tinubu to …

Remarkable empowerment for youth offers hope in Abia North as former Governor Orji Uzor Kalu sets out to launch a multi-billion dollar cashew processing factory in Abia North. This establishment is not only a game changer for the Nigerian economy but also represents a significant investment in the country’s agricultural sector. Here are five reasons remarkable empowerment for youths offers …

Inmates in the Correctional Centre in Jos, Plateau State capital, on Friday, protested the plan to reduce their food ration. The protest freportedly ollowed a tip-off on the downward review of their food size. The increasing cost of living in the nation has sparked demonstrations across various regions. Youths and women from parts of the country have taken to the …