As the National Bureau of Statistics (NBS) is set to release the January 2024 inflation report, this week, analysts at FinanÂcial Derivatives Company (FDC) have projected that inflation rate for January 2024 May hit the 30 percent mark. They also projected that the Monetary Policy ComÂmittee (MPC) of the CenÂtral Bank of Nigeria (CBN) will [&h...
•Tinubu Protests broke out in Minna, Niger State capital, and Kano metropolis on Monday as residents took to the streets to demand an end to soaring cost of living in the country. Their action was understandable: Inflation was shooting through the roof, reports Sunday Vanguard. The federal government immediately responded by convening an emerg...
•Bags of rice This is not the best of times for Nigerian families, who have had to adopt bizarre cost-cutting measures to cope with the recent hardship occasioned by the dramatic hike in the prices of goods and services. Several of them lamented that their income could no longer take care of their daily needs, […]
A Senior Advocate of Nigeria, Prof Itse Sagay, says President Bola Tinubu should have waited six months after his inauguration before removing subsidy on Premium Motor Spirit (PMS) also known as petrol. He made this known during a conversation around the future of Nigeria. The senior lawyer was a guest on Channels Television yesterday. He [&he...
•Balogun Market in Lagos The Trade Union Congress (TUC) wants the federal government to go beyond promises and get to work to cushion the economic hardships facing Nigerians. Since assuming office in May, President Bola Tinubu ended the fuel subsidy and also floated the naira, resulting in a tripling of the prices of petrol and […]
•El Al Israel Airlines Airline Operators of Nigeria, AON, has lamented what it termed existential threats, saying scarcity of Forex, skyrocketing price of Jet-A1, now N1,300 per litre and difficulty in acquiring aircraft due to country risk, among others, are some of the challenges faced by members. The operators, who called for urgent interve...
•Osun youths protest A group of youths today staged a peaceful protest in Osogbo, Osun State, decrying the rising cost of living, with a call on the government to immediately intervene. The protesters, who wielded placards with inscriptions such as ‘change the unfavourable policies’, ‘Nigerians are suffering, we can’t cope again’, and ‘We are ...
•CBN Governor Yemi Cardoso Yemi Cardoso, the governor of the Central Bank of Nigeria (CBN) has stated that the actions taken by the apex bank to stabilize foreign exchange rates have begun to show promising outcomes. He pointed out that since high exchange rates and inflation are strongly associated, the steps would assist in stabilizing [&hel...
The federal government said yesterday it was considering importation of food as a critical option on the table to halt the high cost of items in the country in order to ameliorate the sufferings of Nigerians. In the interim, the government has ordered the immediate release of 102,000 metric tonnes of rice and maize from […]
The Central Bank of Nigeria, in its recently revised consumer protection framework, has mandated financial service providers to comply with minimum standards in their advertising and promotional materials. One of the requirements is that FSPs should not make reference to unaudited financial statements in their sales promotion, reports The PUNC...
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