Presidential social investment panel meets to enhance poverty alleviation efforts

Presidential social investment panel meets to enhance poverty alleviation efforts

By Oluwakemi Kindness The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, on Monday presided over a meeting of the Presidential Panel on the Social Investment Program (SIP) aimed to assess progress and ensure the effective implementation of social investment policies. This is in a bid to accelerate Nigeria's poverty reduction efforts in line with the Renewed Hope Agenda of the President Bola Tinubu-led Administration. The pivotal […]

August 20, 2024 11

Business

Federal Government launches five hundred million dollars bond

Written by Oluwakemi Kindness The Federal Government of Nigeria has launched a five hundred dollar million domestic bond, marking a significant milestone in the country's economic reform and development journey. The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, who stated this while unveiling the Series I five hundred million dollars Domestic Federal Government of Nigeria U.S Dollar Bond in Lagos, said the launch is a bold […]

August 16, 2024 49

Economy

Tinubu vows to crackdown on illegal miners

President Bola Tinubu has pledged that his administration will ensure companies engaged in mineral exploration prioritize the health and safety of Nigerians and the communities hosting these operations. The President made this commitment while receiving a presentation from Course 32 participants of the National Defence College (NDC) in Abuja. The presentation was titled Harnessing the Mining Industry for Enhanced National Security and Development: Strategic Options for Nigeria by 2035. During […]

August 9, 2024 8

Business

CBN Approves Unity Bank Plc and Providus Bank Merger

The Central Bank of Nigeria (CBN) has announced the approval for a pivotal financial accommodation to support the proposed merger between Unity Bank Plc and Providus Bank Limited. This strategic move the bank said is designed to bolster the stability of Nigeria’s financial system and avert potential systemic risks. The apex bank, in a statement on Tuesday by its acting Director of Corporate Communications, Hakama Sidi-Ali, said the merger is […]

August 7, 2024 18

Business

Norrenberger Group Says President Tinubu’s Reforms Are Paying Off.

Economic outlook for the second half of 2024 shows that ongoing reforms by the President Tinubu led government are beginning to yield results as seen with cases of improved trade balance, Increased FAAC allocations, Surge in Capital imports, Increased Foreign Reserves and Exchange rate convergence. This is according to the Norrenberger group, which also admitted that the reforms left Nigerians with High prices, Insecurity, Increased poverty, Depreciating currencies and High […]

July 26, 2024 16

Economy

The Network Of Abuja Left Groups Calls For a Uniformed Salary Structure.

The network of Abuja left groups has called for the implementation of a uniformed salary structure for workers and political office holders, reduction in the cost of petrol and electricity tariff and implementation of a minimum wage that meets the basic needs of all workers. The coalition which is an association of activists committed to social justice and equal rights for all Nigerians, made the demand in Abuja at a […]

July 26, 2024 48

Economy

HOUSE OF REPRESENTATIVE FAULTS FCTA PARK AND PAY ARRANGEMENT

A House of Representatives has faulted the park and pay arrangement of the Federal Capital Territory Administration (FCTA). The House committee of FCT which stated this during an interactive session with the mandate secretary in charge of the transportation secretariat, Chinedum Elechi, said residents and motorists in the nation's capital are being harassed by those employed to enforce the policy. Chairman of the committee, Muktar Betara, demanded details on how […]

July 24, 2024 10

Economy

THE NATIONAL BUREAU OF STATISTICS (NBS), SAYS PRICES OF FOOD ITEMS INCREASED IN JUNE 2024.

The National Bureau of Statistics (NBS), says prices of beans, tomatoes, irish potatoes, garri, yam and other food items witnessed significant price increases in June 2024. The NBS said this in its Selected Food Prices Watch report for June 2024 released in Abuja on Tuesday. The report said that the average price of 1kg of brown beans increased by 252.13 per cent from N651.12 recorded in June 2023 to N […]

July 24, 2024 19

Business

CBN RAISES INTEREST RATE TO 27.65 PER CENT.

The Monetary Policy Committee of the Central Bank of Nigeria has increased the benchmark lending rate to 27.65 per cent. The hike in the Monetary Policy Rate was disclosed by the Governor of the CBN, Olayemi Cardoso, at the end of the 296th MPC meeting in Abuja on Tuesday. The MPC had maintained a hawkish stance to tame inflation since it resumed meeting this year and thus far, it has […]

July 23, 2024 13