BUA Group Chairman, Abdul Samad Rabiu calls for shift from extraction to value addition
The Chairman of BUA Group, Abdul Samad Rabiu, has called for a major shift in Nigeria’s economic strategy, urging the country to move away from raw material extraction and focus more on value addition. He said Nigeria must begin processing its natural resources locally instead of exporting them in their raw form. Rabiu explained that […]
Set up National Framework to stabilise food prices — CPPE tells Nigerian Govt
The Centre for the Promotion of Private Enterprise (CPPE) has advised the Federal Government to urgently establish a National Farm Price Stabilisation and Farmer Income Protection Framework to tackle rising food prices and strengthen food security in Nigeria. The group says unstable prices, weak market systems, and policy uncertainty are hurting farmers and discouraging long-term […]
Nigeria Becomes Member Of European Bank For Reconstruction And Development
Nigeria has officially joined the European Bank for Reconstruction and Development (EBRD). This membership will help Nigerian businesses get easier access to money from abroad, which can support long-term economic development. By joining the EBRD, Nigeria’s private sector can now attract more international investments. These funds can come in both foreign currency and naira, making […]
Employers Will Face Jail Time for Not Paying New Minimum Wage – FG
The Federal Government has urged private sector recruitment agencies to comply with the new minimum wage of N70,000. It warned that failure to do so will lead to penalties, including possible jail time. The government explained that the new minimum wage is essential to help workers cope with the economic challenges. It stressed that no […]
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 […]
President Tinubu Orders Finance Minister Wale Edun to Present New Minimum Wage Plan in 48 Hours
President Tinubu has instructed Finance Minister Wale Edun to create a new plan for minimum wage within 48 hours after reaching an agreement with labor unions. Information Minister Mohammed Idris announced this on Tuesday, June 4, after a meeting with the president at Aso Rock, speaking to journalists at the State House. Idris mentioned that […]