Government cannot intervene in rising airfare costs – Keyamo
Nigeria’s Minister of Aviation and Aerospace Development, Festus Keyamo, has said the Federal Government cannot directly intervene in the rising cost of flight tickets across the country. He explained that airlines operate in a deregulated sector, meaning the government does not control how much they charge. According to him, prices depend on market forces such […]
U.S wheat shipment worth $15m arrives in Lagos
A major wheat shipment valued at $15 million has arrived in Lagos, bringing relief to Nigeria’s food supply chain. The delivery, which came from the United States, is expected to support millers and help stabilise the cost of flour-based products across the country. Stakeholders say the arrival is timely, especially with rising demand in the […]
Tinubu running ‘absent-minded government’ – SDP ex-presidential candidate, Adebayo
Former SDP presidential candidate Adewole Adebayo has criticised President Bola Tinubu’s administration, describing it as an “absent-minded government.” Adebayo claimed the government is not focused on the important issues affecting Nigerians, especially insecurity and economic hardship. According to him, many of the policies being introduced show a lack of clear planning and proper coordination. Adebayo […]
Naira records first appreciation against US dollar as foreign reserves hit $46.7bn
The Nigerian naira has recorded its first major appreciation against the US dollar in months, following a boost in the country’s foreign reserves. According to recent data, Nigeria’s reserves have climbed to $46.7 billion, giving the currency some much-needed support in the foreign exchange market. Analysts say this improvement signals a positive shift in market […]
Why Nigerians are not feeling inflation drop – Economists
Economists have explained why many Nigerians are not experiencing any real relief despite recent reports showing a slight drop in the country’s inflation rate. According to experts, the decline is mostly “statistical,” meaning it does not translate into immediate price reductions in the market. They noted that the cost of food, transportation, electricity, and rent […]
Lagos sets record as investors oversubscribe N214.8bn bond issuance
Lagos State has achieved a major financial milestone after investors oversubscribed its N214.8 billion bond issuance, signaling strong trust in the state’s economic direction and governance. The state government revealed that the response from institutional and private investors far exceeded expectations, showing continued confidence in Lagos as a reliable investment destination. According to reports, the […]
Naira returns to depreciation against US dollar
The Nigerian Naira has once again slipped in value against the US dollar, raising fresh concerns about the country’s economic stability. After a brief period of recovery, the currency weakened across major foreign exchange markets, with traders attributing the decline to increased demand for dollars and limited supply. Businesses relying heavily on imported goods are […]
Nigerian govt suspends implementation of 15% petrol import duty
The Nigerian government has announced the suspension of the planned 15% petrol import duty, following concerns over its potential impact on fuel prices and the economy. The decision comes after widespread criticism from stakeholders in the oil and energy sectors, as well as from the general public, who feared the levy would lead to higher […]
FG is not doing anything about hardship in Nigeria – Zlatan laments
Nigerian singer Zlatan Ibile has expressed frustration over the growing economic hardship in the country, accusing the Federal Government of failing to ease the suffering of citizens. The music star shared his thoughts during a recent discussion, saying many Nigerians are struggling to survive while leaders appear unconcerned. According to him, the increasing cost of […]
CBN refutes reports of involvement in oil sector forex use
The Central Bank of Nigeria has dismissed reports claiming it disbursed $1.259 billion to big oil companies for importing fuel and other petroleum products. According to the apex bank, the report is false and misleading. In a statement released by the bank’s spokesperson, Hakama Sidi Ali, the CBN clarified that the quoted $1.259 billion figure […]