Category: Economy
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Why I rejected fuel subsidy, arbitrary exchange regime – President Tinubu
President Bola Tinubu has said he will not partake in the economic destruction of the country by enemies of the nation.
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Analysis: Economic and business implications of fuel and FX subsidy removal
The removal of fuel subsidies and adoption of a more flexible exchange rate system had been significant policy considerations in Nigeria for many years, with the goal of improving efficiency, reducing fiscal pressures, attracting investments, and promoting economic growth. The Nigerian government in the past subsidized fuel to cushion the impact of fluctuating global oil…
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How FG, States, LGs shared N786.161 billion revenue for May
The Federation Account Allocation Committee (FAAC) has shared a total sum of N786.161 billion May 2023 Federation Account Revenue to the Federal Government, States and Local Government Councils.
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We will make more pronouncements on the economy soon – VP Shettima
Vice President Kashim Shettima has disclosed that the administration is going to make more pronouncements on how to reposition the Nigerian economy soon.
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Naira continues to depreciate
The Naira on Wednesday depreciated against the dollar at the investors and exporters window, exchanging at N763.17.
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Fuel subsidy removal: President Tinubu told to pay N200,000 minimum wage
A non-governmental organisation known as Workers’ Alliance for Inclusive Socio-economic Reforms (WAISER) has asked President Bola Tinubu to pay N200,000 as minimum wage.
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FG set 78 priority actions to transform food system
The Federal Government has set 78 priority actions that would transform the food systems from farm to the dining table, including the waste.
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Turkey raises minimum wage second time in 2023
Turkey on Tuesday raised the monthly minimum wage by 30 per cent, the second hike so far this year, as stubbornly high inflation takes its toll on low-income earners.
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Naira plunges to new low by 16.19%
The Naira on Monday depreciated against the dollar at the Investors and Exporters window, exchanging N770.38 to the dollar.
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Fact-Check: CBN floats Naira leading to devaluation despite denial
Contrary to the Central Bank of Nigeria’s (CBN) denial of devaluing the naira, the decision to float the currency has indeed resulted in a devaluation by approximately 40 per cent, TheNewsGuru.com (TNG) can report. Reports emerged claiming that the CBN devalued the naira from N461.6 to N631.00 on the Importer and Exporter (I&E) market segment,…