According to Prof. Muhammad Pate, the Coordinating Minister of Health and Social Welfare, the ministry will release the nation’s first state of health report. Prof. Pate clarified during a press conference in Abuja that the study will offer a thorough evaluation of the state of the country’s healthcare system and lay out the future course…
On Friday, the Chief Economist at SPM Professionals, Paul Alaje, called on the federal government to exercise caution when interpreting advice from global financial institutions like the World Bank and the International Monetary Fund (IMF). The exchange rate is “the elephant in the room.” Everything this administration has accomplished will be lost if the value…
By the conclusion of the second quarter of 2024, Nigeria’s total public debt stock had increased by N12.6 trillion in just three months to N134.3 trillion ($91.3 billion). This is a 10.35% growth compared to the N121.7 trillion ($91.5 billion) reported in the first quarter of this year. The devaluation of the naira, announced during…
According to the Presidency, Vice President Kashim Shettima led other Nigerian authorities in signing a Memorandum of Understanding (MoU) between Nigeria and telecom behemoth Ericsson on a 5G Innovation Lab. The agreement aims to increase Nigeria’s technological capabilities and rank it among the world’s top 5G network users in terms of productivity. Stanley Nkwocha, the…
According to Bureau De Change operators in Lagos and Abuja, the value of the naira fell on Wednesday at 1,705/dollar on the black market. Aliyu Sani, a BDC operator in Lagos, told The PUNCH that he purchased dollars at 1,695/$ and sold them for N1705. At N1,700, the pricing was lower in Abuja. According to…
After declining steadily in July and August, Nigeria’s headline inflation rate increased to 32.70 percent in September 2024. This was in accordance with the National Bureau of Statistics’ most recent Consumer Price Index data. In September 2024, the World Bank predicted that Nigeria’s inflation rates would continue to grow, primarily due to a notable increase…
The Federal Government, through the Nigerian National Petroleum Company Limited, has signed an agreement to begin gas sales to the methanol-manufacturing project of the $3.3bn Brass Fertilizer & Petrochemical Company Ltd. Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, stated at the signing ceremony held at the ministry’s headquarters that the gas sales-and-purchase agreement…
The Federal Government’s revenue from Foreign Direct Investment into Nigeria in the second quarter of 2024 dropped to $29.83m. According to the National Bureau of Statistics’ most recent capital importation data, foreign direct investment (FDI) fell by 65.33 percent from $86.03 million during the same time last year. Based on available data up until 2013,…
Nigerians should not be alarmed, as the Central Bank of Nigeria (CBN) has implemented measures to guarantee the security of all funds in financial institutions nationwide. A statement by the apex bank’s AG. Director, Corporate Communications, Hakama Ali, on Tuesday reassured the public of its unwavering commitment to ensuring the stability and reliability of the…
According to the Rural Electrification Agency (REA), the Federal Government will launch a new rural energy project financed by the World Bank in November to supply 17.5 million Nigerians with electricity. Abba Aliyu, the Managing Director of the Agency, made this announcement. He also mentioned that his organisation intends to use renewable energy sources to…
