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A House of Representatives committee, on Wednesday, said the Nigerian government’s funding for the North East Development Commission (NEDC) was grossly inadequate.
Nigeria’s inflation rate which stood at 12.82 per cent in July may rise up to 14.15 per cent by the end of December 2020 as the Federal Government’s deficit rises due to current economic challenges in the country.
President Muhammadu Buhari has reiterated that his administration is very keen on reviving the agriculture sector in order to meet local food demand; and diversify an economy that has been too reliant on crude oil proceeds.
The former chairman, Manufacturers Association of Nigeria (MAN), Ogun Chapter, Mr Wale Adegbite, on Wednesday faulted the new increment in electricity tariff in the country.
The dollar held gains against major currencies, on Friday, after the Federal Reserve’s aggressive new strategy to lift employment and increased tolerance for higher inflation pushed United States bond yields up.
South Africa’s rand was slightly weaker early on Thursday, ahead of the release of the producer price index (PPI) which will give more clues about inflation dynamics in Africa’s most industrialised economy.
Nigeria expects the third and fourth quarters to reflect the continued effects of a slowdown, after the economy contracted by 6.1% in the second quarter, the presidency said on Wednesday.
Financial experts on Tuesday expressed concerns on the country’s rising inflation rate currently at 12.82 per cent, and called for stabilisation of the exchange rate.
Nigeria’s inflation rate rose year-on-year (YoY) by 0.26 percentage point to 12.82 percent in July this year from 12.56 percent in June. This represents the eleventh consecutive monthly rise in inflation rate since October 2019.
Currency depreciation, inflation, negative growth, businesses closed: Algeria's economy has been battered by the one-two punch of the coronavirus crisis and tumbling oil revenues.
Around 80% of the materials that go into Lagos-based diaper and sanitary towel manufacturer Wemy’s products are imported. To buy them, Paul Odunaiya needs dollars, which he can no longer find.
South Africa’s rand firmed in early trade on Wednesday ahead of consumer inflation data and as hopes of economic recovery increased global risk appetite.
The CBN said the survey was conducted from May 18 to 27, 2020, with a sample size of 2,070 households randomly selected from 207 enumeration areas across the country and a response rate of 97.9 per cent.
An NGO, the Amaka Chiwuike Uba Foundation (ACUF), has urged the Federal Government to lay emphasis on credibility and high performance of the 2020 Revised Budget as a catalyst for infrastructure development.
The United Kingdom High Commission has announced that its center’s across the country has reopened.
Most of the looted palliatives in warehouses across the nation were awaiting distribution to over 2 million vulnerable households, the private sector-led Coalition Against COVID (CACOVID) has explained.
Two minors and four other suspects were paraded on Monday by police in Ekiti State in connection with arson attacks on three police stations in the State.
The Ekiti State Judicial Panel of Inquiry on the Allegations of Human Rights Violations Against the Police, defunct SARS officers and other Persons has commenced its activities with a call on citizens of the State to start submitting petitions ahead of its November 2 inaugural sitting.
The British High Commission in Nigeria has asked the Federal Government of Nigeria led by President Muhammadu Buhari to investigate all killings and incidents associated with the #EndSARS protests.
The National Drug Law Enforcement Agency (NDLEA), said it has arrested 37 suspected drug peddlers in Oyo State in the 3rd quarter of the year 2020
His latest eye-catching club performance has prompted fresh hopes of a Germany recall for Mueller, who was dropped by Joachim Loew from the national set-up in 2019 alongside Jerome Boateng and Mats Hummels.
Russia will enhance investment cooperation with Zimbabwe and promote the African country’s socio-economic development to help it overcome the consequences of U.S. and EU sanctions, an official said on Sunday.
Amnesty International says at least 38 people, including 12 in the capital Lagos, were killed by the Nigerian army and police in a brutal crackdown on protesters Tuesday that drew international condemnation.
A group, the North-South Progressive Movement (NOSOP), has expressed concern over the hijack of the ongoing protest across the country by some hoodlums and miscreants masquerading as protesters.