Rising Inflation Poses Risk To New Minimum Wage
President Bola Tinubu has set up a committee to decide on the new minimum wage for Nigerian civil servants, however, concerns have been raised regarding the country’s rising inflation which is currently at 28.92%.
Economists believe the implementation...
CBN Reveals Currency Outside Banks Hit Historic High of N3.4trn
A report by the Central Bank of Nigeria (CBN) has revealed that currency outside banks at at December 2023 reached a staggering N3.43 trillion, representing a whopping 94 per cent of the N3.65 trillion total...
IMF Foresees Weaker Economic Growth For Nigeria
The International Monetary Fund (IMF) has downgraded Nigeria’s economic growth projections for 2024 to 3.0 per cent from 3.1 per cent in its October forecast.
It disclosed this in its ‘World Economic Outlook Update, January 2024.’ In a table,...
NRC Generates N287m From Cargo Haulage In Three Months – NBS
The Nigerian Railway Corporation (NRC) earned N286.78m from cargo transported by rail in the third quarter of 2023, according to the National Bureau of Statistics.
NBS in its latest rail transportation report stated that this...
Volatile Exchange Rate May Affect Debt Servicing – Report
A new report from PricewatershouseCoopers (PwC) has revealed that Nigeria may face challenges with its debt servicing in 2024 over volatility in the forex market.
This was contained in the PwC Nigeria Economic Outlook for 2024 which...
Amidst Hike in Tariff, Power Generation Crashes to 3,383MW
The recent increase in electricity tariff by the Nigerian Electricity Regulatory Commission, NERC, has failed to translate to improvement in power supply as on-grid generation fell to 3,383 Mega Watts as at 3pm yesterday.
According to the...
