The Senate, yesterday, summoned governor of the Central Bank of Nigeria (CBN), Mr Olayemi Cardoso, to appear before it next Tuesday on the state of the economy and free fall of the naira in the forex market. The summoning of the governor was disclosed by the chairman of the Committee on Banking, Insurance and other Financial Institutions, Senator Adetokunbo Abiru. …

The recovery in the Nigerian private sector gathered momentum at the start of 2024, with rates of expansion in output and new orders accelerating sharply. Purchasing activity also expanded markedly, but difficulties paying staff meant that the rate of job creation eased, contributing to a rise in backlogs of work. Meanwhile, rates of inflation remained elevated but softened from December. …

The Lagos State government has said that it would invest N550.689 billion to develop and maintain its infrastructure in 2024.  During the State 2024 Budget Analysis at the Bagauda Kaltho Press Centre, in Alausa-Ikeja on Wednesday, the state Commissioner of Economic Planning and Budget, Mr. Ope George said the amount N550.689 billion on Infrastructure represents 24.28 per cent of the …

The Federal Government on Tuesday inaugurated the tripartite committee on the national minimum wage. Vice President Kashim Shettima inaugurated the 37-member panel at the Council Chamber of the State House in Abuja. With its membership cutting across federal, and state governments, the private sector, and organised labour, the panel is to recommend a new national minimum wage for the country. …

For many decades, Nigeria’s move towards rapid development and economic growth was impaired by poor revenue despite the country’s abundant natural resources. The country’s unsavoury economic situation was also compounded by the almost crippling foreign exchange crisis of the last eight years, accentuated by insufficient supply of dollars into the economy. With demand outstripping supply, the fiscal and monetary authorities …

The Federal Government, through the Ministry of Solid Minerals Development, and the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), have resolved to strengthen collaboration to block revenue leakages in the mining sector. During a recent visit to the Minister of Solid Minerals Development, Dr. Dele Alake in Abuja, RMAFC Chairman, Alhaji Mohammed Bello, who led his team, commended efforts of …

Minister of Solid Minerals Development, Dr.Oladele Alake has called on manufacturers of mine explosives to combat alleged leakages from their factories by tightening the security and logistics of their operations. At an emergency meeting with the manufacturers in his office on Friday in Abuja, Alake said that there is popular outcry against the role of the manufacturers in the easy …

The Federal Government has intensified efforts to secure the nation’s natural resources as the presidential inter-ministerial committee held an expanded meeting with service chiefs. The inter-ministerial committee, chaired by the Minister of Solid Minerals Development, Dr. Dele Alake, met with the security chiefs on Thursday in Abuja. Last week at the Federal Executive Council (FEC), President Bola Tinubu established an …

The President of the Nigeria Labour Congress (NLC), Comrade Joe Ajaero has lamented that Nigerians have been suffering as a result of the hike in the price of fuel. He also described Nigerians as losers for adapting to the rise in fuel prices. Ajaero stated this during the 21st Daily Trust Dialogue themed “Tinubu’s Economic Reforms: Gainers and Losers. He, …

President Bola Tinubu has advocated a review of global taxation, explaining that redressing the imbalance in the international tax regime has become imperative. He also affirmed the country’s belief in and commitment towards multilateralism as a way of addressing global challenges. Represented by the Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu at the Third South Summit of …