Public Affairs experts and economists have warned the incoming government about policy loopholes that can derail the administration. They identified critical areas that have presently put Nigeria in bad shape which should be of major concern to the Bola Tinubu Administration. These pit holes included risk-unconscious over-dependence on hydrocarbons – oil accounted for 90.5 per cent of merchandise trade in 2022; …

The fuel subsidy debate took the front burner of a policy conversation and book presentation attended by eminent personalities in Abuja yesterday. Some of the dignitaries — former Emir of Kano, Lamido Sanusi; Kaduna State Governor Nasir El-Rufai, and World Bank Country Director in Nigeria, Shubham Chaudhuri — said the policy should be stopped because of its negative impact on …

The House of Representatives on Thursday approved an additional N1 trillion in Ways and Means advances for the implementation of the 2022 Supplementary Appropriation Act as passed by the Nation Assembly. The Ways and Means provision allows the government to take loans from the Central Bank of Nigeria (CBN). This followed the consideration of the report of the House Committees …

The Federal Government of Nigeria has inaugurated a gemstone market in Ibadan, the Oyo State capital. The market, which is the first of its kind in Nigeria, is expected to boost the country’s gemstone mining industry and create new opportunities for local artisans and traders. The inauguration ceremony was attended by government officials, representatives of mining associations, and traditional rulers …

The shortage of the Naira in recent times crippled the Nigerian economy, the United Nations has disclosed. It stated that the informal sector felt the brunt of the scarcity the most. It noted that the continuing decline of oil production is set to impact the country’s finances in 2023. The UN disclosed this in its ‘Trade and Development Report Update; …

A mushroom scientist, Prof. Sami Ayodele has urged the Federal Government to create an opportunity for farmers to embrace mushroom cultivation to serve as alternative means of farming and income u for the country. Ayodele made the call in Abuja on Thursday while delivering the National Open University of Nigeria (NOUN) 22nd inaugural lecture with the topic: “Mushrooms: Friends or …

The Federal Government said the Nigeria COVID-19 Action Recovery and Economic Stimulus (NG CARES) Programme had impacted over two million poor and vulnerable beneficiaries in the 36 States and the FCT. The Minister of State, Budget and National Planning, Prince Clem Agba disclosed this at a news briefing in Abuja on Tuesday. He said the impact was part of efforts …

The National Bureau of Statistics (NBS) has reported that Nigeria’s headline inflation rate increased to 22.04 percent on a year-on-year basis in March, this year. According to the Consumer Price Index (CPI) and Inflation Report of the NBS for March 2023, which were released in Abuja on Monday, the figure is 0.13 percent points higher compared to the 21.91 percent …

The Nigeria Employers’ Consultative Association (NECA) has warned that any attempt by the Federal Government to increase taxes would lead to negative impacts on households, individuals, and businesses. In a statement Sunday, NECA’s Director-General, Adewale-Smatt Oyerinde said such a move would only lead to disaster for an economy struggling to stay afloat. Oyerinde was reacting to a recent recommendation by …

Director General of the World Trade Organization (WTO), Dr Ngozi Okonjo-Iweala has said that Nigerians have lost confidence in the government. Okonjo-Iweala, who spoke virtually from Washington at the inauguration of the Transition Council of the Abia State Governor-elect, Dr Alex Otti, in Aba, regretted that the political class in the country had dashed the hopes of the electorate. Delivering …