As food inflation surpasses 40%, the Nigerian government has rolled out several programs to mitigate the impact on citizens. Minister of State for Agriculture Aliyu Abdullahi, speaking on Channels Television’s Sunrise Daily, expressed optimism that the situation would improve. “Agriculture has a time frame. Now, a lot of production is ongoing. We are in the…
Nigeria’s inflation rate increased to 34.19% in June 2024, up by 0.24 percentage points from May’s rate of 33.95%, according to the National Bureau of Statistics (NBS). The NBS’s Consumer Price Index (CPI) report, released on Monday, highlighted this surge as part of the ongoing economic challenges facing the nation. “On a year-on-year basis, the…
Abuja, Nigeria – Nigeria’s recent decision to suspend duties, tariffs, and taxes on the importation of maize, husked brown rice, wheat, and cowpeas for 150 days has drawn criticism from Akinwumi Adesina, President of the African Development Bank (AFDB). In a statement published on AFDB’s X account, Adesina addressed African Primates of the Anglican Church…
Lagos, Nigeria – In celebration of its 75th anniversary, Africa’s Global Bank, United Bank for Africa Plc (UBA), is set to launch the “UBA Legacy Promo.” This campaign is designed to honor UBA’s rich legacy and its longstanding commitment to rewarding loyal customers. According to a statement, the UBA Legacy Promo, which will run for…
In a meeting with media leaders in Lagos, Aliko Dangote highlighted the evolution of Dangote Group over four decades, shifting from a trading firm to a diverse conglomerate. His goal, he emphasized, is to bolster Nigeria’s economy and enable broader Nigerian participation in company ownership. Since its inception in 1978, Dangote Group has expanded into…
Ibom Air has announced the acquisition of a new Airbus A220-300, marking a strategic move to increase capacity and cater to rising passenger demand. The General Manager for Marketing and Communication, Aniekan Essienette, revealed this in a statement on Friday. Owned by the Akwa Ibom State Government, Ibom Air is expanding its services with the…
The Nigeria Deposit Insurance Corporation (NDIC) has called on law enforcement agencies to strengthen their collaboration to curb banking fraud in the country. This was emphasized by the Managing Director/Chief Executive of NDIC, Bello Hassan, at the annual capacity-building workshop for law enforcement agents in Lagos on Thursday. Represented by the NDIC Director of Communication…
The Federal Government has praised the contributions of platforms like Moniepoint in driving the growth of Nigeria’s informal sector. This commendation was made by Vice President, Senator Kashim Shettima, during the launch of the 2024 Nigeria Informal Economy Report, powered by Moniepoint in collaboration with the Small and Medium Enterprise Development Agency of Nigeria (SMEDAN)…
Nigeria’s daily oil production rose by 25,000 barrels per day, climbing from 1.251 million barrels per day (mbpd) in May to 1.276 mbpd in July, according to the Organisation of the Petroleum Exporting Countries (OPEC) in its Monthly Oil Market Report for June, which cited direct communication with the Nigerian government. Despite the government’s efforts…
