CBN Sticks to 5% Limit for Ways and Means Advances, Overriding National Assembly’s Decision
In a recent development, the Central Bank of Nigeria (CBN) has announced it will maintain its Ways and Means Advances limit at 5% for the fiscal years 2024-2025. This decision comes despite a recent bill passed by the National Assembly, which raised the borrowing limit from 5% to 10%. Ways and Means Advances are short-term […]
Afenifere Leader Criticizes Government’s Lavish Spending Amid Financial Crisis
Segun Sanni, a key figure in the Afenifere socio-political group, has openly criticized the Nigerian government for its excessive spending, despite the country’s ongoing financial struggles. Speaking on Channels Television’s Sunrise Daily, Sanni expressed concern over the extravagant lifestyles of government officials while the average Nigerian continues to face severe economic hardship. Sanni called on […]
We’re restoring confidence in Nigeria economy – Tinubu Says
President Bola Tinubu has stressed that his administration is committed to restoring trust in Nigeria’s economy. He highlighted that they are focusing on reducing inflation, stabilizing the foreign exchange market, and improving the management of government finances. Tinubu shared these remarks on Tuesday during the 17th Annual Chartered Institute of Bankers of Nigeria (CIBN) Banking […]
We Will Do Everything to Save Nigeria – VP Shettima
Vice President Kashim Shettima has assured Nigerians that the government is dedicated to protecting the nation from failure. He emphasized that President Bola Ahmed Tinubu’s administration will do whatever is necessary to prevent Nigeria from collapsing. Shettima made this statement during the 17th Annual Banking and Finance Conference in Abuja, organized by the Chartered Institute […]
CBN Offers Dollars to BDCs at N1,580/$ to Increase Market Liquidity
The Central Bank of Nigeria (CBN) has introduced a new policy to increase the availability of foreign exchange in the market. As part of this effort, the CBN is selling dollars to Bureau De Change (BDC) operators at the rate of N1,580 per dollar. This was announced in a circular signed by W.J. Kanya, acting […]
Petrol Price: New Crisis Expected as NNPCL Faces Financial Issues
The price of petrol in Nigeria might soon go up as the Nigerian National Petroleum Company Limited (NNPCL) grapples with financial challenges. On Sunday, NNPCL spokesperson, Olufemi Soneye, confirmed that the company is feeling the strain of high fuel supply costs. This situation has put a lot of pressure on the company, threatening its ability […]
Petrol Price in the North Hits N1000 per Litre, Says Labour Party Spokesperson
The cost of petrol in Northern Nigeria has shot up to a staggering N1000 per litre, according to Yunusa Tanko, the spokesperson for the Labour Party. This news comes at a time when Nigerians are already facing widespread fuel shortages across the country. The scarcity of petrol has had a severe impact on both the […]
President Tinubu Stands Firm on Fuel Subsidy Removal to Curb Greed
In a recent nationwide address, President Tinubu addressed the issue of fuel subsidies. Despite widespread calls to bring them back, he stood firm in his decision to keep them removed. President Tinubu acknowledged that the removal of the fuel subsidy was a difficult and painful choice. However, he explained that it was a necessary step […]
Reno Omokri Disputes Dele Momodu’s Claims About Nigeria’s Economy
In response to an open letter from renowned journalist and Peoples Democratic Party (PDP) chieftain Dele Momodu, former Presidential aide Reno Omokri has come forward to challenge the notion that Nigeria’s economy is collapsing. Dele Momodu’s letter, addressed to President Tinubu on July 18, raised alarms over the state of the nation, specifically pointing out […]
Alternative Policies for Private Sector Could Boost Nigeria’s Economy – NECA
The Nigeria Employers’ Consultative Association (NECA) has called on the Nigerian government to implement alternative policies that could lead to significant economic growth and prosperity in the future. NECA believes that by embracing innovative strategies, the government can foster an environment conducive to sustainable development and private sector growth. Speaking at a press conference on […]