Category: Economy
NBS Vows Transparency Amid Inflation Data Controversy, Clarifies Rebasing Process
The National Bureau of Statistics (NBS) has moved to quell growing concerns over its inflation reporting methods, pledging enhanced transparency after confusion arose from its recent Consumer Price Index (CPI) rebasing exercise. Data Integrity Assurances In an official statement, Acting Director of Communications Folorunso Alesanmi confirmed the bureau’s commitment to “quality data publication,” emphasizing that…
Dangote Refinery Begins Jet Fuel Exports to U.S., Set to Lower Aviation Prices
The Federal Government, through the Nigerian National Petroleum Company Limited (NNPCL), has announced the commencement of jet fuel exports from the Dangote Refinery to the United States, a development expected to lower aviation fuel prices in North America ahead of the peak summer travel season. In a statement issued by refinery management and confirmed by…
#30DaysRantChallenge: Nigerians Vent Frustrations Over Economic Hardship Under Tinubu’s Administration, Label It ‘Worst Regime’ Ever
Nigerians on social media have intensified their criticism of President Bola Tinubu’s administration, describing it as the “worst thing” to happen to the country, as more citizens join the #30DaysRantChallenge campaign. The online movement, which began on Saturday, has become a platform for Nigerians to express their frustrations over the rising cost of living, economic…
Sowore Calls on Nigerians to Join #30DayRantChallenge Amid Rising Anger and Frustration Under Tinubu Government
Human rights activist and #RevolutionNow convener, Omoyele Sowore, has urged Nigerians to participate in the #30DayRantChallenge, a social media initiative aimed at voicing discontent over the growing hardship and impunity under President Bola Tinubu’s administration. The challenge comes as citizens across the country express mounting frustration over issues such as hunger, insecurity, economic instability, and…
Dangote Petroleum Refinery Temporarily Suspends Sales of Petroleum Products in Naira
Dangote Petroleum Refinery has announced a temporary suspension of petroleum product sales in Naira, citing the need to align its sales proceeds with its crude oil purchase obligations, which are denominated in U.S. dollars. The decision, communicated in a statement released on March 19, 2025, aims to address a mismatch between Naira sales and dollar-denominated…
Hon. Waliu Owode Meets with Rice Farmers Association of Nigeria (RFAN) Ijebu East Chapter to Address Farming Challenges
Ijebu East, Ogun State – March 15, 2025 – Hon. Waliu Owode, Member of the Ogun State House of Assembly representing Ijebu East Local Government, held a crucial meeting with members of the Rice Farmers Association of Nigeria (RFAN) Ijebu East Chapter on Friday, March 14, 2025. The meeting, aimed at addressing the challenges faced…
Tinubu Focused on Shared Prosperity, Not 2027 Election – Presidency
The Presidency has clarified that President Bola Tinubu’s primary focus is on delivering shared prosperity to Nigerians rather than preparing for the 2027 general elections. The statement, made by the President’s Special Adviser on Media and Public Communications, Sunday Dare, comes amid a wave of political defections and speculation about the formation of a coalition…
Economic Activities Expand for Second Consecutive Month, CBN Reports
The Central Bank of Nigeria (CBN) has announced that economic activities expanded for the second consecutive month, reaching 51.4 index points in February 2025, according to its Purchasing Managers’ Index (PMI) Report. The report highlights growth in the industry, services, and agriculture sectors, signaling a gradual recovery in the Nigerian economy. Sectoral Performance The CBN’s…
Yobe Audit Exposes N204 Million in Unaccounted Local Government Withdrawals
A review of the 2023 audit report for local governments in Yobe State has uncovered N204 million in unexplained withdrawals by various council areas. The report, which highlights significant lapses in financial accountability, identified unsupported expenditures across multiple local government departments, raising concerns about transparency and governance at the grassroots level. Breakdown of Unexplained Withdrawals…
Nigeria Squandered Future Generations’ Wealth for 50 Years, Tinubu Declares
President Bola Tinubu has declared that Nigeria was on the brink of bankruptcy before his administration took decisive steps to remove the fuel subsidy and implement critical economic reforms. Speaking on Thursday while receiving a delegation of former National Assembly colleagues from the aborted Third Republic at the State House in Abuja, Tinubu emphasized that…