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Economy

It’s always about the economy, stupid…

Economy

The Harsh Reality of Nigeria’s Escalating Fuel Prices: Vehicle Owners Undergoing Intense Pain

Inah Emmanuel | News Reporter -
NIGERIA - Despite a 100 percent increase in transport fares, commercial drivers in Nigeria have voiced concerns about their inability to recover the cost...
Economy

No Devaluation Here: Central Bank of Nigeria Rebuts Claims of New Naira Downgrade

Ima Matthew | Sub Editor -
LAGOS, Nigeria - The Central Bank of Nigeria, CBN, has fervently dismissed a report by Daily Trust newspaper stating that the CBN had devalued...
Economy

Can Dangote Refinery Deliver? NLC Expresses Doubt on Nigeria’s Readiness for Domestic Production

Inah Emmanuel | News Reporter -
LAGOS, Nigeria - The Nigerian Labour Congress, NLC, has expressed concerns that the recently inaugurated Dangote Petrol Refinery may not entirely fulfill the country's...
Business

Tinubu Announcement: Fuel Scarcity Hits Grips Nigeria as APC Governors Accuse Marketers of Hoarding

Doyin Ajayi | Sub-Editor -
ABUJA, Nigeria - A sudden bout of fuel scarcity has caught motorists, workers, and traders off-guard across states and the Federal Capital Territory, FCT,...
Economy

Fuel Crisis Hits Hard as Prices Soar After Tinubu’s Subsidy Removal Announcement

Inah Emmanuel | News Reporter -
CALABAR, Nigeria - Following President Bola Tinubu's announcement regarding fuel subsidy removal in his inaugural speech on Monday, May 29, 2023, a wave of...
Economy

Currency Controversy: President Tinubu’s Pledge to Review Naira Redesign Puts Emefiele’s Fate in Question

Ima Matthew | Sub Editor -
ABUJA, Nigeria — President Bola Tinubu, in his inaugural address at Eagle Square on Monday, May 29, 2023, pledged to review the controversial naira...
Economy

Nigeria’s Central Bank Hikes Interest Rate, Marking 3rd Intervention

Doyin Ajayi | Sub-Editor -
ABUJA, Nigeria - The Central Bank of Nigeria, CBN, has once more decided to hike its interest rate, marking the third such consecutive increase. The...
Business

Major Shakeup in Finance Sector as Nigeria’s Central Bank Revokes 139 Licenses [FULL LIST]

Ekamma Jacobs | Staff Reporter -
LAGOS, Nigeria - The Central Bank of Nigeria, CBN, has made a substantial and surprising move, revoking the operating licenses of 139 financial institutions...
Economy

Powerless Pledge: Buhari’s $7.5 Billion Borrowing Yields No Improvement in Power Supply

Doyin Ajayi | Sub-Editor -
ABUJA, Nigeria — As the end of President Muhammadu Buhari's administration approaches, the anticipated impact from the over $7.5 billion loans procured to revolutionize...
Economy

Nigeria’s Bitter Crown: Under Buhari, Country Clinches Unemployment Capital of The World Title

Ebenezer Olatunji | News Reporter -
LAGOS, Nigeria - Nigeria has recently surpassed all other countries in terms of unemployment, according to a newly released report from the World of...
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