Economy

President Bola Tinubu may sign the Minimum Wage Bill into law next week, following the passage of the bill by the National Assembly.   Multiple sources within the National Assembly revealed that the bill was finalized on Wednesday and transmitted to the President on Thursday (yesterday) after its expeditious passage …

Nigeria’s inflation rate in June 2024 surged from 33.95% in May 2024 to 34.19% in June according to the latest report from the National Bureau of Statistics, (NBS).   The headline inflation rate in June 2024 increased by 0.24% points in June when compared to the figure for May 2024.

Peter Obi condemned the government plan to buy New presidential jet describing it as being extremely insensitive to the struggles of average Nigerians at this unprecedented economic crisis in Nigeria He said At a time when our country is trending on the global media for facing its worst economic crisis, …

The Federal Government has pleaded with Organised Labour to reconsider its decision to embark on an indefinite strike from Monday, June 3, 2024, in protest against the government’s refusal to raise the proposed minimum wage from N60,000. The interest of the masses should be the top priority of Organised Labour, the …

The Managing Director/Chief Executive Officer of Financial Derivatives Company Limited, Bismarck Rewane, has disclosed that Nigeria has fallen from the 32nd largest economy in the world to 42nd. He added that in Africa, the nation has also descended from its 1st ranking to 4th in terms of wealth management and …

President Bola Tinubu has officially flagged off the 700Km Lagos-Calabar coastal highway project, estimated to cost about N15 trillion.       Tinubu who cut the tape at exactly 6:03pm in Lagos was flanked by Minister of Works, Dave Umahi, Senate President Godswill Akpabio and about eight governors, including the …

Aliko Dangote, Africa’s richest person, has announced that Nigeria will cease importing petrol by June.     Speaking at the Africa CEO Forum Annual Summit in Kigali, Dangote revealed that his refinery will commence production next month, meeting Nigeria’s petrol needs and eliminating the need for imports. “Right now, Nigeria has …

Cement price 69% higher in Nigeria than India – Reps C’ttee The House of Representatives Joint Committee investigating the arbitrary increase in the price of cement in Nigeria has lamented the cost of the commodity, compared to what obtains in other African countries. Recall that on March 13, 2024, the …

The Nigeria Labour Congress (NLC) has rejected the salary increase announced by the Bola Tinubu-led administration on Tuesday, April 30, 2024.     According to Politics Nigeria, the federal government approved a pay rise of between 25 and 35 per cent for civil servants across various consolidated salary structures. The announcement was made …

The Federal Government has approved an increase of between 25% and 35% in salary Increase for Civil Servants on the remaining six Consolidated Salary Structures The Salary Structure is the Consolidated Public Service Salary Structure (CONPSS), Consolidated Research and Allied Institutions Salary Structure (CONRAISS), Consolidated Police Salary Structure (CONPOSS), Consolidated Para-military …