The Chairman of FBN Holdings, Mr. Femi Otedola has backed the Bola Tinubu administration over a new policy to impose windfall tax on Nigerian banks. A strongman of the Nigerian financial and capital markets, Otedola, who is also a majority shareholder of Geregu Power Plc, also descended heavily on bank officials in the country, accusing them of profligacy and extravagant spending, …

The Oodua People’s Congress (OPC) has called for dialogue between the government and leaders of the August planned protest against economic hardships faced by Nigerians. The OPC urged President Bola Tinubu on the need for immediate reversal of increased electricity tariff and reduction of food and fuel prices as a goodwill gesture. OPC gave its counsel in a statement on …

Ondo State Governor, Mr. Lucky Aiyedatiwa has appealed to Nigerians to exercise more patient with the administration of President Bola Tinubu, and shun the planned protest. Aiyedatiwa said this in Akure, the state capital, during a meeting with some leaders of the All Progressives Congress in the state. He said that the President Bola Tinubu administration has “beautiful plans to …

On Thursday in Abuja, Minister of Finance Mr Wale Edun addressed a press conference and gave a mid-year report on the economy. The Minister told the press what President Tinubu’s administration had done in the last year to address some of the structural imbalances in the economy, working with the fiscal and monetary authorities. The Minister, who will now address …

The Federal Government has reiterated its commitment to the full implementation of the 2024 Budget. It also pledged to promote a transparent and efficient financial management system. The commitments were made yesterday by the Finance Minister and Coordinating Minister of the Economy, Mr. Wale Edun. He spoke during a meeting with the House of Representatives Committee on Public Accounts at the …

The Speaker of the House of Representatives, Rt. Hon. Tajudeen Abbas, on Monday, hinted at plans by the parliament to enact laws that would boost funding for agricultural activities to achieve the national goal of food security. Describing the fate of crude oil as uncertain, the speaker emphasised the importance of diversifying the nation’s economy, particularly in respect to agriculture. …

Nigeria’s inflation narratives took a controversial twist yesterday as the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA), gave its own figure contradicting that of the National Bureau of Statistics (NBS), by a wide margin. The NBS had released its Consumer Price Index (CPI), for June 2024 reporting that the headline inflation rate increased by 0.24 percentage …

Former President Goodluck Jonathan said the present socio-economic uncertainty which had sent shivers to all nooks and crannies of society would also be overcome by the grace of God. Jonathan noted that while the federal government is doing its best to salvage the situation, what the country needs now is collaborative efforts in finding solutions to the present economic hardship. …

The Senate has extended the life cycle of the 2023 supplementary budget from 30 June to 31 December 2024. The upper chamber of the National Assembly on Thursday suspended all its rules and gave an expeditious passage to a bill seeking the extension in less than 20 minutes. Earlier before the passage of the bill, the lawmakers went into a …

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun has declared that Nigeria’s economy has been revamped, citing positive trends in key economic indicators. Edun made the declaration while briefing State House correspondents after the Federal Executive Council (FEC) meeting presided over by President Bola Tinubu on Tuesday. The Minister, who said he presented a memorandum to …