Business
Nigeria’s inflation rate decreased for the first time in about 11 months in December 2022, from 21.47% in November. In its most recent report on inflation, the National Bureau of Statistics (NBS) noted a decrease of 0.13% between November and December. The headline inflation rate decreased to 21.34% in December 2022 from 21.47% in November, […]
The federal government has said that it would stop payment of fuel subsidy by June 2023. This was disclosed by the Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, during the public presentation of the 2023 Federal Government budget. Zainab who revealed that the government has made provision of N3. 36trillion naira […]
The price of 12.5kg of cooking gas rose by 61 per cent to N9,906 in September 2022 from N6,165 in September 2021. This was disclosed by the National Bureau of Statistics in its report on Liquefied Petroleum Gas (cooking gas) Price Watch for September 2022. In its state profile analysis, the bureau stated that Cross […]
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has appealed to Nigerians not to engage in panic buying of petrol, saying it has enough in stock. Mr Farouk Ahmed, the Chief Executive Officer, NMDPRA confirmed this to the News Agency of Nigeria (NAN) in Lagos on Tuesday. Ahmed said he had checked with the […]
Yemi Osinbajo The Vice President of Nigeria said the current global energy transition is both an opportunity for the preservation of the earth and a vehicle for unlocking the development potential and livelihoods of millions of people, especially those in developing countries. The vice president is of the opinion that the transition must also be […]
Food costs jumped 14.6% in the year to September, this is the biggest rise in food prices since 1980 – with bread, cereal, meat and dairy prices all climbing The Office for National Statistics said the consumer price index (CPI) increased by 10.1 per cent in annual terms in September. A Reuters poll of economists […]
The e-Naira which was launched on October 25, 2021 is the first central Bank digital currency in africa. According to the CBN governor, Godwin Emefiele, the introduction of the e-Naira and its underlying block chain could increase Nigeria’s Gross Domestic Product (GDP) by $29 billion, in 10 years. .”Let me note that aside from the […]
The Federal Government has suspended its proposed excise duty on telecommunication services. The Minister of Communications and Digital Economy, Isa Pantami made this known during the inaugural meeting of the Presidential Committee on Excise Duty for the Digital Economy Sector in Abuja on Monday. Patami disclosed that he was personally against the implementation of the […]
The amount Nigerians spent on electronic bills such as power and other utilities grew by 387.19 per cent from N189.50bn in the first four months of 2019 to N923.24bn in the corresponding period of 2022, indicating an increase in the use of e-channels by Nigerians. According to the Nigeria Inter-Bank Settlement System, e-bills payment includes […]
The National Bureau of Statistics has disclosed that Nigeria spent N1.51trn on the imports of premium motor spirit, also known as petrol, in the first quarter of 2022. This was 25.54 per cent of the total imports for this quarter, and an increase of 17.05 per cent when compared to the N1.29tn spent on importing […]
Adure Radio – Abuja