•Sellers selling clothes hustling for buyers at Balogun Market in Lagos The Chief Economist at SPM Professionals, Paul Alaje, today said despite the reported drop in Nigeria’s inflation, there is still a high increase in the prices of commodities. Latest figures from the National Bureau of Statistics (NBS) indicated that headline inflation fel...
•Palm fruits The price of palm oil in Nigeria is reaching record highs, and stakeholdÂers say the reasons are far more comÂplex than seasonal trends. At the heart of the issue are foreign policy shifts in Indonesia, soaring globÂal demand, a weakening naira, and chronic underinvestment in Nigeria’s domestic production, reports Daily Independen...
Despite consistent reduction in price of premium motor spirit (PMS) otherwise known as petroleum by Dangote Petroleum Refinery and Petrochemicals, the price of the product remains very high, analysis has shown. Yesterday, the refinery announced another reduction of N15 in the price of its high-quality Premium Motor Spirit (PMS), reports Daily ...
•Motor Park Fares for inter and intra-state transportation have remained high across the country despite the recent reduction in the price of petrol. The Dangote Petrol Refinery and the Nigerian National Petroleum Company Limited (NNPCL) had reduced their prices, reports Daily Trust. In Lagos, a litre of petrol was reduced from N925 per litre ...
•Foodstuff open market The Centre for the Promotion of Private Enterprise (CPPE) yesterday cautioned that a drastic reduction in inflation figures does not equate to a decrease in the overall price level of goods and commodities. In a statement signed by Dr. Muda Yusuf, the CPPE warned that while the sharp deceleration in inflation should [&he...
Despite a N1.35 billion fine imposed on nine Deposit Money Banks (DMBs) and a 7,000-member taskforce deployed by the Central Bank of Nigeria (CBN) to monitor cash availability at Automated Teller Machines (ATMs), the cost of obtaining cash remained steep across the country. Nigerians continue to rely on Point of Sale (PoS) operators, who now [...
Universities in the country are groaning under the yoke of high tariffs thrust on them by electricity distribution companies, DISCOs, which may see the 10 with the highest budgets spending over N75 billion on electricity this year. The 10 universities have a combined budget of N247.6 billion for 2024, reports Vanguard. Checks by our correspond...
•Lagos PPRO Benjamin Hundeyin The Lagos State Police Command has successfully thwarted a kidnapping attempt on high-net-worth individuals in the city. The breakthrough operation, which occurred yesterday, Thursday, July 4, 2024, was announced during a press briefing held at the Command Headquarters in Ikeja by the Police Public Relations Offic...
•Drugs The high cost of drugs in the country would persist, as local production of the products is near total collapse due to inconsistencies in government policies. Though the Nigerian pharmaceutical market boasts over 200 manufacturing and packaging companies made up of three dominant segments of readily available over-the-counter drugs (43....
•Tomatoes Prices of tomatoes and pepper in the North have continued to soar despite the items being in their season. The development has reached an alarming level such that residents say their prices have stripped them to bare bones, reports The PUNCH. Most of the residents further groan that the prices of pepper and tomatoes […]
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