NLC, TUC declare indefinite strike October 3

September 26, 2023

NLC declares nationwide strike from Wednesday over fuel price increase

MIKE OCHONMA The Nigeria Labour Congress (NLC) and the Trade Union Congress of Nigeria (TUC) will commence an indefinite strike on Tuesday, October 3. This followed a joint press briefing by both leadership of the union in Abuja, the nation’s capital on Tuesday (today). The unions also asked their state chapters to mobilize for protests […]

LCCI charge businesses on cost reduction strategies to stay afloat amid inflation hike

September 19, 2023

By Onome Amuge. The Lagos Chamber of Commerce and Industry (LCCI) has emphasised the need for businesses to implement a variety of cost reduction strategies to lower operating expenses and maintain profitability amidst inflationary pressures. Chinyere Almona, director-general, LCCI, in a statement reacting to the 18-year high August inflation rate of 25.80 per cent, noted […]

Nigeria’s total debt stock rises 75%, hits N87.38trn in Q2’23

Isaac JayeolaSeptember 15, 2023

DMO recommends efficient tax administration to tackle Nigeria’s debt burden

Nigeria’s debt stock, comprising the domestic and external debt stocks of the federal government,sub-national governments and the Federal Capital Territory, rose to N87.38 trillion at the end of the second quarter of 2023, according to a latest report by the Debt Management Office (DMO). The figure represents a 75.29 per cent or N37.53 trillion  increase […]

CBN denies policy to crash exchange rate to N1.25 per dollar

September 13, 2023

Commercial banks’ loan to government hits N26trn,says CBN

The Central Bank of Nigeria (CBN) has debunked a report of planning a naira redenomination policy that would see the Nigerian currency almost equal to the U.S dollar at N1.25 kobo to a dollar. The apex bank issued the disclaimer on its official X. page (formerly Twitter), accompanied by a screenshot of the fake report […]

Banking activities plunge in Lagos,Abuja as NLC embarks on warning strike action

September 5, 2023

Business A.M Financial and industrial operations were on Tuesday, ground to a halt across many government and corporate organisations as the Nigeria Labour Congress (NLC) commenced a two-day warning strike against the government’s  handling of  the petrol subsidy removal palliative and its adverse impact on the masses. Business A.M observed that a lot of  banks, […]

CBN links naira crash to diaspora remittance diversion to black market

August 14, 2023

By Onome Amuge The Central Bank of Nigeria (CBN) has attributed the free fall of the naira against the dollar and its resultant volatility in the foreign exchange market to the diversion of diaspora remittances to the parallel market.  This is as the currency float implemented by the new administration in June continues to hit […]

FG, Labour Union, set 8-week deadline to conclude subsidy dialogue

June 20, 2023

FG, labour unions, set 8-week deadline to conclude subsidy dialogue

By Business A.M. The federal government has sealed an agreement with the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) on an eight-week deadline to resolve all contentious issues and implement the resolutions arising from the demands of the organised labour. Business A.M understands that the meeting, held on June 19, is to […]

NLC, TUC suspend planned strike after meeting with government

June 6, 2023

NLC, TUC suspend planned strike after meeting with government

By Business A.M. The Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) have resolved to suspend the nationwide strike planned to commence on Wednesday, June 7, over the removal of petrol subsidy by the new government. The resolution was reached after a meeting between representatives of the federal government and the labour unions […]