ECONOMY
CBN: MPC members worried over Nigerias rising inflation, debt
By Chinwendu Obienyi Members of the Central Bank of Nigeria (CBN)s Monetary Policy Committee (MPC) h ...
Naira depreciation: CBN raises Custom exchange rate by N162
The Central Bank of Nigeria, CBN, has increased the exchange rate for calculating tariff and import duties collection at the Nations seaports and airports by N162.51 amid the Naira dep ...
9th Mile Chamber is industrial hub set to redefine Enugu economy – Ozor Ugwu
Ozo Ugwu: “the 9th Mile will be an industrial park…” THE President, 9th Mile Chamber of Commerce, Industry, Mines and Agriculture (9ccima) Ozo Leona ...
Railway Property Management Company to renovate facilities in Kaduna
The Nigeria Railway Property Management Company Limited, RPMCL, Kaduna, says it will soon commence renovation of facilities within the Kaduna railway line. The compa ...
We must first fight inflation before talking about economic growth – CBN
The Central Bank of Nigeria has said it is all out to tackle rising inflation in Nigeria. The acting director of the Banking Supervision Department of CBN, Dr Adeton ...
Weak yen pressures Bank of Japan rate decision
Speculation has grown that Japan will intervene in forex markets to support the yen. Photo: Kazuhiro NOGI / AFPSource: AFPThe Bank of Jap ...
Prices of fuel not changing – NNPCL explain reason for scarcity
The Nigerian National Petroleum Corporation Limited, NNPCL, on Thursday insisted that the prices of petroleum products are not changing. NNPCL disclosed this in a st ...
Passengers stranded as fuel scarcity hits Kaduna
Passengers going to work on Thursday were stranded following the scarcity of fuel across Kaduna State. Those who were fortunate to get buses paid double their normal ...
Beyond making ends meet: Surprising reasons why employees juggle multiple jobs
In 2022, Abby* was getting increasingly worried about the spate of layoffs in the global tech space. Encouraged by her friend who had two software engineering jobs, one at a Nigerian ...
New US home sales pick up in March
New home sales picked up in March. Photo: JUSTIN SULLIVAN / GETTY IMAGES NORTH AMERICA/Getty Images via AFPSource: AFPSales of new homes ...
Eurozone business activity accelerates in April
The services sector propped up the eurozone's economic activity in April. Photo: Miguel MEDINA / AFP/FileSource: AFPBusiness activity ...
Nigerian government plans to protect telecom infrastructure following ₦27 billion losses
The Nigerian government plans to criminalise the destruction of broadband fibre cables after MTN and Airtel reported losses of ₦27 billion. The Ministry of Work ...
'We are not Fed-dependent,' ECB chief says on rate cuts
Christine Lagarde, president of the European Central Bank, pictured at a press conference in Frankfurt am Main, Germany, on April 11, 2024. Photo: Kirill KUDRYAVTSEV ...
Nigerians have lost faith in Naira — Minister of Finance, Wale Edun, laments
Minister of Finance, Wale Edun, has lamented that Nigerians have lost faith in the nations currency, Naira, and are now saving in Dollars. Speaking at a recent event in Lagos, he ...
Cheap Chinese steel threatens jobs in Latin America
The Huachipato steel plant, Chile's largest, has become a casualty of cheap Chinese steel imports. Photo: GUILLERMO SALGADO / AFPSource: AFP
Nigerias headline inflation accelerates to 33.2% despite the nairas strong performance
Headline inflation in Nigeria accelerated to 33.2% in March, defying analysts estimates of a marginal increase. Those estimates were based on the strong performance of t ...
Debt and climate back on IMF, WB spring meetings agenda
International Monetary Fund (IMF) Managing Director Kristalina Georgieva, who has been reappointed to another five-year term. Photo: Stefani Reynolds / AFPSource: ...
Nigeria to provide solar subsidy for underserved and unserved areas
The Nigerian government plans to provide subsidies to developers and operators of solar mini-grids in unserved and underserved areas via a $750 million loan approved by the World Bank. ...
US Fed's Barkin says recent inflation data 'not supportive' of case for rate cuts
"When we gain greater confidence that inflation is headed toward our target, then it'll be appropriate to ask whether it's not time to recalibrate the se ...
Australia PM unveils plan to overhaul economy, invest in green energy
Prime Minister Anthony Albanese will unveil the "Future Made in Australia Act" to help compete with global partners who are providing massive subsidies to n ...
Fitch downgrades China sovereign credit outlook on debt fears
China's leaders have struggled to kickstart growth in the world's number two economy as it faces several headwinds, including a crisis in the property sector. ...
FG to phase out subsidy in 2027, says Minister
From Isaac Anumihe, Abuja After considering the fact that the government would have spent over N2.9 trillion in subsidising electricity between January ...
US hiring blows past expectations in March
US hiring rose by 303,000 last month. Photo: JOE RAEDLE / GETTY IMAGES NORTH AMERICA/Getty Images via AFPSource: AFPUS hiring rose ...
Currency grading: Naira ranks third in Africa
•Strengthens at NAFEM By Chinwendu Obienyi The naira, Nigerias ...
Bank of Tanzania raises interest rate to 6% amid steady inflation
The Bank of Tanzania (BOT) has increased its interest rate (CBR) from 5.5% to 6% following a meeting held by its monetary policy committee on Wednesday. This adjustm ...
Labour, manufacturers kick as FG raises electricity tariff by 240%
By Adewale Sanyaolu, Isaac Anumihe (Abuja) Merit Ibe and
Cutting rates too soon could be 'quite disruptive': Fed's Powell
The Federal Reserve has held interest rates at a 23-year high as it seeks to bring inflation firmly down to its long-term target of two percent. Photo: Mandel NGAN / ...
We generated N1.3trn revenue in first quarter of 2024 – Customs
The Nigeria Customs Service, NCS, says it generated more than N1.3 trillion revenue in the first quarter of 2024. The Comptroller General of NCS, Adewale Adeniyi, di ...
California fast food workers get $20 hourly minimum
Happy feel: Most workers at California fast food outlets are entitled to a $20 per hour minimum wage from April 1. Photo: ANDREW CABALLERO-REYNOLDS / AFPSource: A ...
Nigerian Railway Corporation generates N6bn in 2023
The Nigerian Railway Corporation, NRC, generated N6,071 billion in revenue from passenger, cargo transport and other income sources in 2023. The National Bureau of S ...