business and economy

One major index of social change and development, especially in developing societies, is infrastructure development. No society can boast of having achieved development if a large percentage of her infrastructure is comatose. Infrastructure development is critical to achieving human capital development. The economic impact that it has on nation building cannot be overemphasized. The growth […]

Governors of the South-South States have demanded an upward review of the provision of 2.5 percent as host community trust fund in the Petroleum Industry Bill to 10 per cent in the best interest of oil communities and the nation. This is as the governors advise the President, Major General Mohammadu Buhari (retd.) that in […]

ABUJA-MARKET women in the South East geo-political zone of the country have lauded President Muhammadu Buhari’s empowerment efforts in the region. Operating under the umbrella of Amalgamated Union of Market Women Societies in the South East,the women who reeled out the social security investments of the president so far in the zone,noted that the development […]

The Nigerian National Petroleum Corporation (NNPC) has called for a legislative framework with clear fiscal terms in order to tap the full potential of the gas resources in the nation’s deepwater acreages. The Group Managing Director of NNPC, Mallam Mele Kyari, made the call at a one-day public hearing on “Inclusion of Gas Terms in […]

The Organised Labour has criticised the federal government over its fresh move to increase petrol pump price following the rise of crude oil price above $60 per barrel in the international market. The minister of State for Petroleum Resources, Timipre Sylva, on Tuesday at the official launch of the Nigerian Upstream Cost Optimisation Programme, urged […]

The Central Bank of Nigeria has given an insight into why it banned Nigerian banks from trading in cryptocurrencies, saying transactions in them are largely speculative and volatile. The apex bank gave the explanation in a statement by Mr Osita Nwanisobi, Acting Director of Communications. The explanation is coming on the heels of widespread reactions […]

South Korean Trade Minister Yoo Myung-hee withdrew her bid to lead the World Trade Organisation, leaving former Nigerian Finance Minister Ngozi Okonjo-Iweala as the only remaining candidate for the job. Yoo was said made the decision after discussions with the United States and other major nations, and took various issues into account “comprehensively” including the […]

The Kebbi Governor, Alhaji Atiku Bagudu, has explained why youths in the state have refused to join the orgy of violence unleashed by their counterparts in Kaduna, Plateau, Adamawa, Taraba and southern states. He said the youths in the state have been exerting their energy on farming to ensure food security rather than engaging in […]

Several leaked documents have revealed how the world’s biggest banks enable criminals to launder money around the world. The documents showing about $2tn of transactions are popularly called FinCEN files. The BBC reports that the FinCEN files are more than 2,500 documents, most of which were files that banks sent to the US authorities between […]

The consumer price index (CPI) which measures inflation increased by 13.22 percent (year-on-year) in August 2020. This is 0.40 percent points higher than the rate recorded in July 2020 (12.82 percent), the National Bureau of Statistics said in a Report just released The increases were driven by food, border closure and energy prices . The […]


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