business and economy

The ban of motorcycles in several states hits traders hard in several states and the threat by the Federal Government to outlaw commercial motorcycles, popularly called “Okada”. According to the foreign trade report of the National Bureau of Statistics for the period, Motorcycle imports into Nigeria declined by thirty five point nine two 35.92 per cent in […]

According to the National Bureau of Statistics (NBS) the price of cooking gas on a year-on-year basis increased by one hundred and one point one seven per cent in August 2022 compared with August 2021. The NBS made the assertion in its Cooking Gas Price Watch issued today in Abuja while the average price of […]

The National Bureau of Statistics (NBS) on Thursday said Nigeria’s inflation rate rose to 20.52 per cent in August 2022. In its report titled, ‘CPI and Inflation Report August 2022’, the Bureau stated, “In August 2022, on a year–on–year basis, the headline inflation rate was 20.52%. This was 3.52% points higher compared to the rate […]

The Independent Corrupt Practices Commission and other related offences on Thursday opened up that the N13.59trillion 2021 budget was padded by the various Ministries, Departments and Agencies, with duplicated projects worth N300b. The ICPC Chairman, Prof. Bolaji Owasanoye, during an interface with the Senate Committee on Finance, also disclosed that projects duplication worth N100billion were […]

Vice President Yemi Osinbajo at the State House while receiving the United States Special Presidential Envoy for Climate Change, John Kerry, has called for a wider use of gas as a replacement for “dirtier fuels”, saying doing so would arrest deforestation while ensuring that the country has the necessary energy base load for industrialization. It […]

Kwara State Governor, Abdulrahman Abdulrazaq has presented One Hundred and Eighty Seven point Five billion naira Revised Budget Estimate to the House of Assembly today for consideration and passage. This was contained in a message addressed to the Speaker, Engineer Yakubu Salihu and read before his colleagues during today’s plenary Governor Abdulrazaq said the revised […]

President Muhammadu Buhari revealed that his regime has done well in addressing security and infrastructure. The President spoke during the stakeholders’ meeting held at the Imo State Government House in Owerri, the state capital, after inaugurating the Owerri-Orlu Road, the phase one of the Owerri-Okigwe Road, and the State House of Assembly complex rebuilt by […]

The Nigerian oil market hit an all-time low in production output in the month of August. What began as a promising economic rebound from the global pandemic at the year’s beginning has gradually spiraled downwards. According to the Information disclosed by The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) in its latest crude oil and condensate […]

The World Bank has disbursed $31.7bn as climate financing in its 2022 fiscal year. It stated that this is a 19 per cent increase from the $26.6bn it recorded in its last fiscal year. According to world bank, lending for climate-related investments has reached 36 per cent or $31.7bn, exceeding its new climate finance target […]

Oil workers in Nigeria yesterday declared that they would begin nationwide rallies today in protest against the current massive theft of the country’s crude oil and destruction of oil assets, in a bid to force government to act and halt the menace. Coming under the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), […]

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