$2.25b World Bank Loan Offers Hope for Economic Recovery
The Federal Government of Nigeria has secured $2.25 billion in funding from the World Bank, comprising two key financial operations aimed at economic stabilisation and support for vulnerable populations.
Key details of the facility include a 40-year...
International Customs Day: FG seeks Partnership on $24.9tr Global Maritime Trade
The Federal Government has solicited collaboration from stakeholders towards enhancing the country’s economy by tapping into the maritime sector, valued at over $24 trillion, while supporting 90 per cent of global trade and generating...
Headline Inflation Surges to 33.95% in May
Again, Nigeria’s inflation rate increased to 33.95 per cent in May 2024 according to the latest data from the National Bureau of Statistics.
This represents a month-over-month increase of 0.26 per cent points in the headline inflation rate from...
Naira Depreciates by 215% in One Year
Since the harmonisation of the foreign currency market segments in Nigeria one year ago, the naira has depreciated by about 214.64 per cent against the dollar.
At the close of trade on Friday, the naira stood at N1482.72 to...
Food Inflation Soars by 61% in One Year – NBS
Nigerians are finding it more difficult to feed themselves, as food inflation rose to 40.66 per cent in May.
This was as the cost of food rose by 61 per cent from 25.25 per cent in...
Mele Kyari, Others Summoned Over Alleged ‘Diversion’ of $72m
Mele Kyari, group chief executive officer of the Nigerian National Petroleum Company (NNPC) Limited, has been invited to appear before the house of representatives committee on public petitions over an alleged “diversion” of $72 million belonging...
