NNPC jerks up fuel price
The Nigerian National Petroleum Company Limited (NNPC) has increased the price of petrol across its retail outlets. This sudden hike has left many Nigerians frustrated as they deal with the rising cost of living. Reports indicate that NNPC filling stations in Abuja and Akwa Ibom State now sell petrol at N999 per litre, up from […]
Tinubu govt’s intervention: 180 days after, food prices yet to crash
In July 2024, the Nigerian government announced bold measures to address rising food prices. The plan included a 150-day duty-free import window for essential food items like maize, rice, wheat, and cowpeas. These measures aimed to reduce food inflation within 180 days. However, six months later, food prices remain stubbornly high, leaving Nigerians frustrated. Experts […]
Peter Obi now leading prophet of doom – APC fires back
The All Progressives Congress (APC) has strongly responded to Peter Obi, the Labour Party’s presidential candidate in the 2023 elections, accusing him of being a “prophet of doom.” This response came after Obi criticized Nigeria’s current state under President Bola Ahmed Tinubu. In a recent press conference, Peter Obi claimed that the economic and security […]
Exchange Rate Ends 2024 At ₦1,535/$1, Marking A 40.9% Depreciation
The Nigerian naira faced a challenging year in 2024, ending at ₦1,535/$1 against the US dollar. This marked a significant 40.9% depreciation from the previous year’s rate of ₦907.11/$1. Despite various reforms and policies by the Central Bank of Nigeria (CBN), the currency struggled to maintain stability. On the parallel market, where exchange rates are […]
Over-dependence on oil will make Nigeria vulnerable — Speaker, Abbas
Nigeria’s over-reliance on oil is putting its future at risk, according to Tajudeen Abbas, the Speaker of the House of Representatives. In a speech at the 14th convocation of Al-Hikmah University in Ilorin, Abbas warned that depending too much on oil would only lead to more poverty, inequality, and joblessness in the country. He stressed […]
2025: 5 percent inflation rate possible in Nigeria with $50bn FDI – Teriba
Inflation is one of the biggest challenges facing Nigeria today, but Ayo Teriba, a respected economist and Chief Executive of Economic Associates, believes there’s hope. He recently shared on Arise Television’s Good Morning Show that Nigeria could lower its inflation rate to just 5% by 2025 if the government attracts $50 billion in foreign direct […]
Tinubu’s team uncoordinated, suffering economic illiteracy – Ex-presidential candidate, Adebayo
Prince Adewole Adebayo, former presidential candidate of the Social Democratic Party (SDP), has strongly criticized President Bola Tinubu’s economic team, calling it uncoordinated and lacking economic understanding. In a recent interview, Adebayo expressed concerns over the country’s current economic direction and pointed out key mistakes made by the administration. Adebayo took issue with the Finance […]
2025 Budget Cannot Address Nigeria’s Economic Challenges – Atiku
The 2025 budget proposal has sparked debates, with former vice president Atiku Abubakar expressing doubts about its ability to address Nigeria’s economic challenges. According to Atiku, the budget, presented by President Bola Ahmed Tinubu, lacks the fiscal discipline and structural reforms needed to improve the country’s struggling economy. Last week, President Tinubu submitted a N49.7 […]
FG Plans To Slash Inflation From 34% To 15% In 2025
The Federal Government of Nigeria has announced its strategy to cut inflation from 34% in 2024 to 15% by the end of 2025. This plan, outlined in the 2025 budget, focuses on key measures to stabilize the economy and ease the cost of living for Nigerians. The government plans to enhance security across the country, […]
Sagay Cautions Tinubu Against Harmful IMF and World Bank Economic Advisories for Nigeria
Itse Sagay, a well-known Nigerian legal expert, has raised concerns about the economic policies recommended by the World Bank and the International Monetary Fund (IMF). He believes that these policies, often followed by developing countries like Nigeria, have historically worsened economic conditions rather than improving them. In an interview with The PUNCH, Sagay criticized the […]