The Nigerian Security Printing and Minting Plc (NSPM) have highlighted some features of the new naira notes in order to sensitize Nigerians who have expressed concern about the quality of the notes. In a statement on Friday signed by the Managing Director of NSPM, Ahmed Halilu, the company stressed the need to enlighten Nigerians on the features of the new …

The proposed Fourth Mainland Bridge project will cost $2.5 billion and will be ready in 2027, it was learned on Friday. Special Adviser to the Governor on Public Private Partnerships, Mr Ope George, and his counterpart in the Ministry of Works and Infrastructure, Mrs Aramide Adeyoye told reporters at Alausa, Ikeja that the official turning of sod would be done by …

The Conference of Nigeria Political Parties (CNPP) has commended the Central Bank of Nigeria (CBN) over its move to redesign the N200, N500 and N1, 000 banknotes. In a statement in Abuja on Thursday by its Secretary General, Chief Willy Ezugwu, CNPP said: “Only politicians who intended to buy votes” and other equally ill-motivated elements would criticise CBN’s action. The …

Three existing Nigerian currency notes – N200, N500 and N1,000 – will cease to be legal tender from 31st January next year, that is 98 days away. The Central Bank of Nigeria (CBN) announced on Wednesday that Nigerians and others in possession of the notes should return them the banks, in place of the redesigned notes. According to the CBN Governor, …

For the first time in 17 years, Nigeria’s inflation rate rose to 20.8 percent as a result of soaring food prices and supply chain disruption, according to  the National Bureau of Statistics (NBS). The Consumer Price Index report for September 2022 released on Monday shows that inflation figure for the preceding month – August – was 20.52 percent. The NBS …

In its eight-year reign, the Muhammadu Buhari administration budgeted N93.45 trillion (2016 to 2023 budgets). But 72.1 percent of that figure, amounting to N67.4 trillion, was committed to recurrent expenditure, leaving 27.9 percent for capital spending on infrastructure in health, works, education and other sectors. Recurrent expenditure includes salaries, emoluments and allowances of public officers and civil servants. On the …