Agribusiness revolution, key to Nigeria’s economic recovery – Akwa Ibom lawmaker, Essien
The Chairman of the Akwa Ibom State House of Assembly Committee on Health, Nutrition and Food Security, Moses Essien, has emphasized that an agribusiness revolution is vital to reviving Nigeria’s struggling economy. He made the call for communities and stakeholders across the country to shift from smallholder farming to commercial agribusiness for sustainable economic growth. […]
Economic hardship fueling human trafficking in Nigeria – Yilwatda
The National Chairman of the All Progressives Congress (APC), Prof. Nentawe Yilwatda, has attributed the growing cases of migration and human trafficking in Nigeria to decades of economic hardship and industrial decline. He made this known on Monday during the public presentation of Vicious Red Circle, a novel by Ambassador Alex Ugochukwu Oriaku, at the […]
Economists explain why rice price drop sparks mixed reactions among Nigerians, traders
Economists and financial analysts have attributed the recent drop in rice prices to conflicting interests between consumers and traders. While Nigerians are celebrating the affordability of rice, traders lament the decline in profit margins, which they say negatively affects their businesses. This was highlighted by Muda Yusuf, CEO of the Centre for the Promotion of […]
Naira records highest depreciation against US dollar
The Nigerian Naira continued its downward slide on Wednesday, marking its sharpest depreciation of the week against the United States dollar. According to official figures from the Central Bank of Nigeria (CBN), the Naira fell to ₦1,473.29 per dollar, compared to ₦1,463.23 on Tuesday — a daily loss of ₦10.06. This decline represents the largest […]
Nigeria’s inflation rate drops for 6th consecutive time
Nigeria’s economy recorded another positive sign as the nation’s inflation rate fell for the sixth consecutive month, according to the latest data released by the National Bureau of Statistics (NBS). This marks a steady decline that economic analysts believe could signal gradual recovery and market stability after months of rising prices. The report showed that […]
Qatar Pledges To Invest $300 Billion In Nigeria
Nigeria is set to receive one of its biggest-ever foreign investments as a Qatari business delegation announced plans to inject $300 billion into various sectors of the Nigerian economy over the next ten years. The delegation, led by Sheikh Abdulrahman Hamad N. H. Al-Thani, made the announcement in Lagos during a reception hosted by Elan […]
Nigeria now has second-highest number of poor people globally – Former statistician-general of the National Bureau of Statistics Yemi Kale
Former Statistician-General of the National Bureau of Statistics (NBS), Yemi Kale, has expressed concern over Nigeria’s worsening poverty rate. He revealed that the country now ranks as the second-highest in the world with the largest number of poor people. Kale said this reflects the urgent need for stronger policies that address unemployment, inflation, and slow […]
NNPC And Dangote Refinery Sign Fresh 2-year Crude Deal
The Nigerian National Petroleum Company Limited (NNPC) has signed a new two-year crude oil supply deal with the Dangote Petroleum Refinery. The agreement is expected to guarantee steady crude supply to the $20bn refinery in Lekki, Lagos, ensuring that its operations remain uninterrupted. This move comes as part of efforts to strengthen Nigeria’s oil refining […]
Nigeria’s FX Reserves Soar To $42.03 Billion, Hitting 6-Year High
Nigeria’s foreign exchange reserves have climbed to $42.03 billion, marking the highest level in six years. The Central Bank of Nigeria (CBN) confirmed the development, noting that the surge in reserves is a result of improved crude oil earnings, foreign inflows, and policy reforms that continue to restore investor confidence. This significant rise comes at […]
President Tinubu gives marching order for crashing on cost of transporting food items
President Bola Tinubu has directed a Federal Executive Council (FEC) committee to work on reducing the high cost of transporting food across Nigeria. The Minister of State for Agriculture and Food Security, Senator Sabi Abdullahi, revealed this in Abuja on September 10. He noted that the government’s plan to reduce food prices will focus on […]