Telcos' Operating Costs Skyrocket by 50.92% - NCC   Nigeria's telecommunications sector faced significant financial strain in 2023, with operating costs for telecom companies skyrocketing by 50.92%. This substantial increase underscores the industry's struggles to maintain network operations amidst soaring inflation and a depreciating currency, which...

Nigeria's Foreign Exchange Reserves Drop $832m in Just Two Weeks   Nigeria's foreign exchange reserves experienced a substantial decrease in the first three weeks of January, plummeting by $832.62 million from January 6 to January 21. This sharp decline underscores the ongoing challenges in Nigeria's foreign...

Inflation, Others Push 50% Telecom Tariff Hike, Reviews Ongoing - Edun The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has announced that tariffs in the telecommunications sector will undergo periodic reviews to address rising operational challenges. Speaking on Arise TV during the...

FHA Clarifies Allegations on Gwarimpa Police Station The Federal Housing Authority (FHA) has denied allegations that it re-allocated the land housing the Police Station on its Gwarimpa Housing Estate to cronies. The management made the clarification in a public notice on Monday, following a program...

Nigeria’s Public Debt Hits N142tn as Servicing Gulps N3.57tn in Q3 2024 – DMO Nigeria’s total public debt rose to N142.3 trillion as of September 30, 2024, representing an increase of 5.97 per cent (N8.02tn) compared to N134.3tn in June 2024. The debt, comprising external and...

Inflation: Unsold Goods Rise N1.4trn in 2024 - MAN The Manufacturers Association of Nigeria says high inflation and reduced purchasing power of consumers led to more than N1.4 trillion unsold goods by manufacturers in 2024. MAN's President Francis Meshioye disclosed this yesterday, in Lagos, at the...