Naira Appreciates Against Dollar at Forex Market The Naira appreciated against the US dollar on Thursday at the official and parallel foreign exchange markets. Official data from FMDQ disclosed that it appreciated to N901.41/$1 at the close of work on Thursday. The figure represents a N3.15 gain...

FG To Spend N600bn On Electricity Subsidy In 2023   The federal government might have to pay N600bn as electricity subsidy in 2023. The Chairman/CEO of the Nigerian Electricity Regulatory Commission (NERC), Engr. Sanusi Garba made the disclosure at the ministerial retreat on the Integrated National Electricity...

Senate Condemns Trade Ministry Over Alleged N1bn Geneva Trip   The Senate Committee on Trade and Industry on Tuesday condemned the alleged allocation of N1bn for a foreign trip to Geneva, Switzerland, by the Ministry of Trade and Investment. Members of the panel gave the condemnation when...

Inflation: CBN to Maintain Tight Monetary Policy in 2024   The Central Bank of Nigeria (CBN) is likely to maintain a tight monetary policy stance to rein in inflation in 2024 according to analysts. Tight monetary policy is a set of measures taken by a country’s Central...

FG Records N1.5trn Fiscal Deficit In Two Months, CBN Reveals   The Federal Government recorded N1.54tn fiscal deficit in July and August 2023, figures from the Central Bank of Nigeria (CB) have revealed. According to CBN’s monthly economic report for August, the Federal Government recorded N818.53bn and...

2024 Budget: FG To Spend N837bn On 2,254 Bridges, Roads   The Federal Government is planning to rehabilitate and construct 1,925 roads and highways across the country in the 2024 budget proposal. The government also allocated N548.56b for roads construction in 2024, with the East-West and Benin-Akure...