Inflation

International Monetary Fund member countries have agreed to clear Sudan’s arrears to the institution, France’s president said on Monday, removing the final hurdle to the African nation getting wider relief on its external debt of at least $50 billion.

The consumer price index, which measures the rate of change in the price of goods and services, dropped to 18.12 percent in April from 18.17 in March.

The French government has said it will lend Sudan $1.5 billion to help the heavily indebted country pay off its arrears to the International Monetary Fund.

Imo State governor, Senator Hope Uzodinma has acquired another fleet of vehicles produced by Innoson Vehicle Manufacturing Company Limited (IVM), Nnewi, a reputable Nigerian brand.

The forum disclosed this on Wednesday in a statement jointly signed by its Chairman, Secretary-General and Publicity Secretary, Senators Opeyemi Bamidele (APC-Ekiti), Matthew Uroghide (PDP-Edo) and Chukwuka Utazi (PDP-Enugu).

The Managing Director of the Nigeria Sovereign Investment Authority (NSIA), Mr Uche Orji, Tuesday disclosed that the organisation which manages the country’s sovereign wealth fund tripled its profits in 2020.

The federal government yesterday indicated that it is considering extending the current equalisation scheme in the petrol supply system in the country to the movement of gas across the country to make the product more available and accessible to Nigerians.

President Muhammadu Buhari has expressed deep concern over the ‘mercilessness of some Nigerians’ to the course and development of the country.

The Lagos Commodities and Futures Exchange (LCFE) has concluded plans to admit Dukia Gold‘s diversified financial instruments, backed by gold as the underlying asset in a sector worth over N300 trillion.

Experts on Thursday commended the Central Bank of Nigeria (CBN) for extending the Naira4Dollar scheme expected to close on May 8.

Primero Transport Services Limited, on Sunday, said that inflation and its inability to access forex to import vehicle parts’ were hindering its efforts at reviving its faulty buses and providing seamless services to its passengers.

The National Leader of All Progressives Congress, APC, Bola Tinubu, has called on aggrieved regions clamouring for secession to jettison the idea as the country is better together than separated.

The Chairman of the Southern Senators’ Forum, Senator Opeyemi Bamidele, has appealed to President Muhammadu Buhari to work on the economy, arrest inflation, increase production and strengthen the naira for the N30,000 minimum wage to be meaningful to Nigerian workers.

The Bishop of the Egba Diocese, Church of Nigeria (Anglican Communion), Rt. Revd. Emmanuel Adekunle, has described the All Progressive Congress (APC) led administration in the country as clueless, which has further thrown the nation into abyss of insecurity and economic woes.

Former vice-president, Atiku Abubakar, says workers in Nigeria have “never had it so bad” with their survival looking “almost impossible.”

The Minister of Power, Engr. Sale Mamman, has dismissed rumours of a major hike in electricity tariff, clarifying there is no plan to significantly raise tariff.

Former Vice President of Nigeria, Atiku Abubakar, yesterday decried what he called the persistent and frightening economic decimation of the Nigerian working class in the face of economic hardship and poor living conditions.

Delta State Governor and Chairman of South-South Governors’ Forum, Dr. Ifeanyi Okowa, yesterday called on President Muhammadu Buhari to reconstitute the board of the Niger Delta Development Commission (NDDC) without further delay.

The Lagos Chamber of Commerce and Industry (LCCI) says the rising insecurity in Nigeria has reduced investor confidence.

Members of the organised private sector (OPS) have urged the federal government to rise to the occasion and arrest the worsening insecurity in the country in order to salvage the nation’s economy from a total collapse.

A chieftain of the All Progressives Congress (APC) in Lagos State, Olusegun Idowu, has said that Nigeria would witness uncommon prosperity if the national leader of the party, Asiwaju Bola Tinubu becomes the next president of Nigeria in 2023.

The Nigerian Electricity Regulatory Commission (NERC) says it is concluding the Extraordinary Tariff Review process for the 11 Electricity Distribution Companies (DisCos).