Nigeria’s mounting inflation woes hits new peak at 33.2% in March 2024
Post AMUGE
April 15, 2024
Business a.m. The National Bureau of Statistics (NBS) has released the latest inflation data for Nigeria, which revealed a marked increase in the headline inflation rate from 31.70 per cent in February 2024 to 33.20 per cent in March 2024, marking a rise of 1.50 percentage points in a single month. According to the National […]
FG settles N4.83trn ways & means advances to CBN using T-Bills,bonds
Post AMUGEApril 10, 2024
The federal government has earmarked a total of N4.83 trillion out of the proceeds of Nigerian Treasury Bills (NTBs) and Bonds issued in 2024 to settle part of the N7.9 trillion Ways and Means advances received from the Central Bank of Nigeria (CBN), which is approximately N3.07 trillion short of the outstanding advances as of […]
Climate Action Africa takes the lead on sustainability with CAAF24
Post AMUGEMarch 26, 2024
Onome Amuge Climate Action Africa (CAA) has announced the launch of the Climate Action Africa Forum (CAAF24), a new international platform that will convene thought leaders from around the world to share insights on how to encourage collaboration, catalyse solutions, and encourage governments, businesses, and individuals to invest in climate-friendly initiatives. The announcement for the […]
NDFF 2024 conference to explore sustainable solutions for Nigeria’s economic,social welfare
Post AMUGEMarch 20, 2024
Ali Pate to deliver keynote address on transforming Nigeria’s population health Joy Agwunobi In a move to catalyse economic growth and drive positive social change, the Nigeria Development and Finance Forum (NDFF) is set to convene a two-day conference to be held on May 8th and 9th, 2024 at the Transcorp Hilton […]
Nigeria inflation rate reaches new peak at 31.70% in February – NBS
Post AMUGEMarch 15, 2024
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 […]
Alarm bells set off as CBN goes aggressive in monetary tightening
Post AMUGEMarch 5, 2024
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, […]
NLC calls off nationwide protest, issues March 13 ultimatum to FG
Post AMUGEFebruary 28, 2024
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
Post AMUGEFebruary 27, 2024
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) – […]
FAAC allocation rises 2.47% in January as federal govt,subnationals receive N1.149trn
Post AMUGEFebruary 23, 2024
Business a.m The Federation Account Allocation Committee (FAAC) released a total of N1,149.816 trillion among the 774 local governments, 36 state governments, and the federal government for January 2024,representing a 2.47 per cent increase from the N1,127.408 trillion distributed in December 2023. The February 2024 meeting of the Federation Accounts Allocation Committee (FAAC) was held […]
Nigeria fails to impress on customer service, survey reveals
Post AMUGEFebruary 22, 2024
Business a.m The results of the 2023 Nigeria Customer Service Index (NCSI) findings were not promising for Nigeria, as Africa’s biggest economy scored 61.8 per cent out of 100 in terms of customer service satisfaction, a low score that signifies a lot of room for improvement. The first-ever Nigeria Customer Service Index (NCSI) report was […]