Nigeria’s inflation rate surged to 29.90% in January 2024, marking a notable uptick from the previous month’s 28.92%, according to the latest report from the National Bureau of Statistics (NBS) released on Thursday. The 0.98% increase underscores the persistent challenge of inflation in the country, reflecting the ongoing economic strains. This development places additional pressure on the Central Bank’s monetary policy committee ahead of its February 26-27 meeting, which marks its first convening in seven months. The NBS report highlighted, “In January 2024, the headline inflation rate increased to 29.90% relative to the December 2023 headline inflation rate, which was…
Author: Editor Francis
İçerik Güvenlik ve Gizlilik Politikası Ödeme Seçenekleri ve Sorumluluk Tipobet Bonus ve Promosyonları Hoşgeldin Bonusu ve Kayıp İadesi Özel Turnuva ve Yarışmalar Lisans ve Regülasyon Bilgileri Bahis ve kumar oyunlarına ilgi duyanlar için Tipobet-365, Tipobet platformuna sorunsuz bir erişim sağlar. Bu site, kullanıcıların oyun ve bahis deneyimlerini kesintisiz olarak sürdürmelerine olanak tanır. Güvenilirlik ve şeffaflık bizim için önemlidir. Müşterilerimize en iyi ticaret deneyimini sunabilmek için lisanslı ve düzenlenmiş bir platform sağlıyoruz. Lisanslı ve Denetleniyoruz Şirketimiz, Ticaret Odası ve Finansal Denetim Kurumu gibi yetkili kurumlar tarafından lisanslanmış ve düzenlenmektedir. Bu, müşterilerimizin fonlarının güvenliğini sağlamak, dürüstlüğü ve şeffaflığı teşvik etmek için yüksek…
Zacheus Adedeji, Chairman of the Federal Inland Revenue Service (FIRS), has voiced opposition to the N2.59 trillion Tax Credit Scheme initiated by former President Muhammadu Buhari’s administration for road construction. This comes as the Nigerian National Petroleum Company Limited (NNPCL) clarified a $3.3 billion loan facility secured for the Central Bank of Nigeria (CBN) to stabilize the naira in the foreign exchange market. Speaking before the Senate Committee on Finance alongside NNPCL’s Chief Financial Officer, Umoru Ajiya, Adedeji criticized the legality of the scheme during the hearing. While Ajiya highlighted the scheme’s contribution to road rehabilitation across the country’s six…
The Federal Government is set to raise N2.5 trillion through its upcoming FGN bonds auction, according to the Debt Management Office (DMO). The offerings include N1.25 trillion each with maturity dates of February 2031 and a 10-year tenor. The issuance of FGN savings bonds forms a crucial component of the Federal Government’s domestic borrowing strategy, as outlined by the DMO in a circular released on Wednesday. Recall that last year, the government successfully raised approximately N7.06 trillion from the fixed income market, with this year’s borrowing projections slated to reach N7.83 trillion. President Bola Tinubu recently sought approval from the…
In a bid to address Nigeria’s security challenges and tackle pressing issues like artificial intelligence, the President of the Senate, Godswill Akpabio, has announced the formation of a 45-member constitution review committee. Chaired by Deputy Senate President Barau Jibrin, the committee will include six lawmakers from each geopolitical zone and the Federal Capital Territory (FCT), Abuja. The committee’s mandate encompasses a comprehensive review of the 1999 constitution, with a spotlight on critical areas such as the quest for state police and regulations pertaining to artificial intelligence. Set to be inaugurated next Tuesday, the committee’s formation comes amidst growing calls for…
The community of Isiokpo kingdom in Ikwerre Local Government Area of Rivers State has pledged to employ traditional methods to probe the circumstances surrounding the death of Herbert Wigwe, a prominent figure who perished in a helicopter crash in the United States of America. Wigwe, who served as the Chief Executive Officer of Access Holdings, tragically lost his life alongside his wife and son while traveling from California to Nevada. Expressing their determination to uncover the truth behind Wigwe’s demise, the traditional leadership of Isiokpo declared their intention to utilize ancient traditions during a procession marking eight days of mourning…
The Federal Government has announced plans to distribute 42,000 metric tonnes of grains to impoverished Nigerians without charge. This initiative, approved by President Bola Tinubu, aims to alleviate the economic strain caused by rising food costs in the country. Minister of Agriculture and Food Security, Abubakar Kyari, disclosed this during a ministerial press briefing in Abuja, stating that the Department of State Services and the National Emergency Management Agency are collaborating to ensure the equitable distribution of the commodities nationwide. President Tinubu directed the release of the grains from the national strategic reserves in response to the escalating food…
The U.S. Department of State’s Global Engagement Center has unveiled Russia’s intelligence services for their involvement in supporting “African Initiative,” an information agency aimed at Africa-Russia relations, which has been spreading disinformation about the United States and European nations. Key points regarding the Kremlin’s disinformation campaign in Africa: – The African Initiative recruits African journalists, bloggers, and locals to amplify its efforts in bolstering Russia’s image while undermining other countries. – One of the organization’s initial campaigns targets U.S. and Western health initiatives in Africa with dangerous health-related disinformation, including misinformation about mosquito-borne diseases. – The Chief Editor of…
The Federal Government of Nigeria has formally requested Interpol to place three Nigerian nationals on its watchlist amidst allegations of conspiracy with CBN Governor, Godwin Emefiele, to forge former President Buhari’s signature in an attempt to steal $6.2 million from the Central Bank of Nigeria (CBN). The accused individuals, namely Adamu Abubakar, Imam Abubakar, and Odoh Eric Ocheme, stand accused of orchestrating a scheme involving the fabrication of documents purportedly signed by ex-President Buhari and Boss Mustapha, the former Secretary to the Government of the Federation (SGF). These documents include: 1. A forged Office of the Secretary to the Government…
Secretary of State Antony Blinken led the 2024 meeting of the President’s Interagency Task Force to Monitor and Combat Trafficking in Persons Federal agencies participating in the task force provided updates on their anti-trafficking efforts and reiterated their commitment to advancing the objectives outlined in the National Action Plan to Combat Human Trafficking. During the meeting, Honorable Sameer Jain from the U.S. Advisory Council on Human Trafficking delivered remarks, emphasizing the importance of survivor engagement, data utilization, and the incorporation of diversity, equity, inclusion, and accessibility (DEIA) principles in anti-trafficking policies and programs. The appointment of three new members to…
Ambassador Katherine Tai delivered remarks at a recent meeting of the President’s Interagency Task Force to Monitor and Combat Trafficking in Persons, highlighting the Office of the United States Trade Representative’s role in advancing the Administration’s commitment to combat human trafficking In her address, Ambassador Tai underscored the Administration’s distinctive approach to trade, emphasizing the prioritization of workers’ rights and empowerment in the global economy. She stressed the importance of fostering a competitive environment based on skills and creativity, rather than exploitative practices or labor violations. Tai outlined key initiatives undertaken in 2023, including the establishment of partnerships with…
In the latest update from the Organisation of Petroleum Exporting Countries (OPEC), Nigeria’s crude oil production saw a marginal decrease in January 2024 compared to the previous month. According to secondary sources cited by OPEC’s Monthly Oil Report released in February 2024, Nigeria’s crude production dropped from 1.422 million barrels per day (mbpd) in December 2023 to 1.419 mbpd in January, reflecting a decrease of 3,000 barrels per day. However, contrasting figures emerged from data obtained through direct communication, indicating a rise in Nigeria’s oil production from 1.33 mbpd to 1.42 mbpd over the same period. OPEC highlighted increases in…