December 6, 2023
Vinikilang Hayin Gada along, Mudi-Yola Road, jimeta, Adamawa State, Nigeria

Inflation hits 17yr high, rises to 21.47%

Nigeria’s inflation rate rose for the 10th consecutive month to 21.47 percent in November 2022, the highest in 17 years. It was 21.09 percent in October. Disclosing this in its Consumer Price Index, CPI report for November, the National Bureau of Statistics, NBS, indicated that a new pressure on inflation is driven by  yuletide induced […]

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All Business Economy

Circulating redesigned naira: Banks still dispensing old notes

FOLLOWING, yesterday, release into circulation of the newly designed denomination of N200, N500, and N1,000 by the Central Bank of Nigeria, CBN, some commercial banks are still paying bank customers with the old naira notes. This reporter, who visited over eight branches of commercial banks in the Ikotun, Igando, Egbeda, and Ikeja axis in Lagos, […]

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Business Economy

MAN, expert flay FG’s reason for excess tax on soft drinks

The Manufacturers Association of Nigeria, MAN and experts have described moves by the Federal Government, FG, to use health reasons as justification to increase excise tax on non-alcoholic drinks as misleading, adding that the reasoning defies all economic logic and Nigeria’s realities. This is coming barely  two weeks after the Sectoral Group of the MAN […]

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Business Economy Politics

2023: FG, states budget N19.16trn on salaries, pensions, others

The Federal and 35 of the 36 state governments, including the Federal Capital Territory, Abuja, are to spend the sum of N19.16 trillion on payment of salaries, pensions, emoluments and others in 2023. They have also budgeted a miserly N11.435 trillion for capital projects. The recurrent expenditure could be more because most of the budget […]

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