Nigeria's Inflation Rate Surges In September

The National Bureau of Statistics (NBS) has revealed that Nigeria’s annual inflation rate surged to 26.72 percent in September 2023, making it the highest level in almost two decades, worsening the cost of living crisis in the country. The September inflation rate rose for a ninth straight month from August's 25.8%, as stated by the NBS on Monday, with millions of Nigerians impoverished due to the impact of President Bola Tinubu's reforms.
Food inflation, making up the bulk of Nigeria's inflation basket, rose to 30.64% in September from 29.34% in August.

President Tinubu Approves 260 Emergency Road Repairs nationwide 

President Bola Tinubu has approved more than 260 road repairs across the 36 of the Federation and the Federal Capital Territory (FCT) Abuja. The Minister of Works, David Umahi, revealed this to State House correspondents on Thursday following a meeting with President Tinubu at the Presidential Villa, in Abuja.

AICPA Cargo Master Plan To Boost Nigeria Economy

The Anambra State government-owned airport, Anambra International Cargo and Passenger Airport, AICPA, has developed a master plan to engage cargo consolidators locally and internationally to grow its economy hub through exportation of locally made products.

FG Set To Restart TraderMoni Scheme In November

The Federal Government (FG) has disclosed that it would restart the TraderMoni scheme in November. This was made known by Dr. Betta Edu, the Minister of Humanitarian Affairs and Poverty Alleviation during Sunday Politics, a Channels Television programme where she disclosed that each beneficiary would receive N50,000 to support their business.

UAE, Partners Support Move To Reduce Poverty In Nigeria

The United Arab Emirates (UAE) has expressed readiness to partner with the federal government in solving humanitarian and poverty challenges in Nigeria. The UAE Ambassador to Nigeria, Salem Saeed Al Shamsi, revealed the above when he led a team from the embassy and Noor Dubai Foundation to the Ministry of Humanitarian Affairs and Poverty Alleviation in Abuja.

Senate Committee Proposes Privatization Of Moribund Refineries

The Senate Committee on finance has proposed the sale of government-owned moribund oil refineries, describing them as "bottomless pits", despite turnaround maintenance. Sani Musa (APC Niger East), the chairman of the committee, on Saturday, said the proceeds from the sale could be invested in the mining sector to create jobs for Nigerian youth. Musa made the call while fielding questions from journalists in Abuja, yesterday.

Tinubu Detaches FCT from Treasury Single Account

President Bola Ahmed Tinubu has detached the Federal Capital Territory Administration (FCTA) from the Treasury Single Account (TSA). This was revealed by the FCT Minister, Nyesom Wike during a press conference held on Friday in the nation's capital. This strategic move is anticipated to facilitate the advancement and expansion of the FCTA under the leadership of the FCT Minister. The TSA is a Federal Government policy that requires all government revenue to be deposited into a single account, was introduced in 2015 to improve transparency and accountability in government finances. In line with the TSA, all revenue receipts, and all payments by the government, go through a Consolidated Revenue Account, CRA, at the Central Bank of Nigeria, CBN.

N-Power Hoax: FG Halt Program, Launches Investigation

The Federal Government has announced the indefinite suspension of N-Power program over alleged irregularities in the scheme. The Minister of Humanitarian Affairs and Poverty Alleviation, Betta Edu, announced this during an interview on TVC News on Saturday.

President Tinubu Appoints New CEOs For CAC, 13 Others

President Bola Ahmed Tinubu has approved the appointment of new Chief Executive Officers (CEOs) of several parastatals and agencies under the Federal Ministry of Industry, Trade and Investment such as Corporate Affairs Commission (CAC), Industrial Training Fund (ITF), amongst others.

Fuel Scarcity Looms As Marketers Silence On Landing Cost At N720/Ltr

Petroleum dealers have deserted depots over sudden hike on the landing cost of the product at N720/ltr caused by foreign exchange rate volatility of the dollar at N990/$ on Thursday. Petroleum filling stations have begun to shutdown daily, as it was becoming increasingly tough to run the business which may lead to widespread fuel scarcity in coming days.