Nigeria inflation rate reaches new peak at 31.70% in February – NBS

March 2023 Inflation - Inflation rises for the third consecutive time this year

Business a.m. Nigeria experienced an unprecedented spike in inflation, with a new all-time high of 31.70 per cent recorded in February 2024, an indication that prices of goods and services in Nigeria have increased significantly over the past year, placing further strain on consumers,according to the National Bureau of Statistics (NBS). The NBS in its […]

Agora policy highlights framework for Oronsaye report’s maximum impact

Onome Amuge As the Nigerian government gears up to implement the recommendations of the Oronsaye report, Agora Policy, a think tank based in Abuja, is cautioning against a haphazard approach that could do more harm than good. The think tank has called for a comprehensive audit of the human resources and assets of the agencies […]

Tinubu takes executive action on oil and gas reforms

Tinubu signs data protection bill into law

Business a.m  President Bola Tinubu has approved three new directives for the oil and gas sector aimed at improving the industry’s efficiency and competitiveness. The directives include introducing fiscal incentives for related projects, reducing contracting costs and timelines, and promoting cost efficiency in local content requirements.  The development was made known in a statement, titled […]

Edo Assembly serves impeachment notice on deputy gov., Shaibu

Business a.m The Edo State House of Assembly has issued an impeachment notice to  Philip Shaibu,the state’s deputy governor, on the charges of perjury and revealing confidential information about the state government. Charity Aiguobarueghian, the House Majority Leader, officially announced the impeachment notice during a plenary session of the House. He stated that the notice, […]

In push for credible census, CSO wants NPC boss removed

  Says Nigeria must organise credible census Census more important than elections Nation’s pronounced structural imbalances predicated on census numbers    Ben Eguzozie Aware of the need to see Nigeria organise perhaps its first credible census, a civil society group, Africa’s Morning – Centre for Public Policy and Good Governance, says some of the country’s […]

Customs offers 90-day duty payment window for improperly imported vehicles

Business a.m The Nigeria Customs Service (NCS) is offering a 90-day window for importers to pay duties and clear improperly imported vehicles. The Service’s management said this move is intended to enhance compliance and streamline import processes. Abdullahi Maiwada, the NCS’s national public relations officer, in a statement, stated that the opening of the 90-day […]

Alarm bells set off as CBN goes aggressive in monetary tightening 

Commercial banks’ loan to government hits N26trn,says CBN

  ONOME AMUGE    As the Central Bank of Nigeria’s (CBN) recent monetary policy announcements reverberate through the financial sector, a chorus of cautionary voices from economic pundits fills the air. Analysts and experts alike are assessing the implications of these policy decisions, weighing their potential impact on the economy.   The monetary policy rate, […]

Tony Elumelu Foundation stars in Harvard Business School’s new case study

Onome Amuge Amidst geopolitical uncertainty and shifting development finance landscapes, the Tony Elumelu Foundation (TEF) has forged a groundbreaking path for mentoring, resourcing, and networking young African entrepreneurs, earning recognition from the Harvard Business School. A recent case study from Harvard Business School recently explored the innovative and transformative work of the TEF in catalysing […]

NLC calls off nationwide protest, issues March 13 ultimatum to FG

NLC declares nationwide strike from Wednesday over fuel price increase

Business a.m The Nigeria Labour Congress (NLC) has announced the suspension of its nationwide protest, citing the success of the first day of protests. The Congress has however extended its deadline to the federal government to March 13 to implement all its demands. NLC said that it had achieved almost all of its objectives for […]

CBN hikes MPR to record-high 22.75% amid rising inflation

Business a.m The Central Bank of Nigeria (CBN) has raised the monetary policy rate (MPR) for the ninth time in a row since May 2022, increasing it by 400 basis points to a record high of 22.75 per cent.  In addition to the MPR hike, the CBN also raised the Cash Reserve Ratio (CRR) – […]