Nigeria’s unemployment rate significantly surged to 5.0% in the third quarter of 2023, representing an increase of 0.8% points increase over the unemployment rate of the preceding quarter. The figures were given by the National Bureau of Statistics (NBS) in its ‘Labour Force Survey Q3 2023’ report published on Monday on its website. An analysis […]
The Board of Directors of the African Development Bank Group (AfDB) has approved the proposal to take an initial stake of up to $10 million in the “Alliance for Green Infrastructure in Africa – Project Development” (AGIA-PD)” Fund as part of its investment supports for successful green transition of African countries. A news report from […]
The Federal Inland Revenue Service (FIRS) has unveiled plans to meet with the Central Bank of Nigeria (CBN) and Ministry of Works this Friday with a view to reviewing about N2.59 trillion tax credit scheme for road repairs and construction in the country. The Chairman of the federal revenue service, Dr. Zacch Adedeji, during a […]
Nigeria’s inflation rate in January 2024 further increased, rising to 29.90% from 28.92% recorded in the previous month, amid macroeconomic whirlwinds in the nation’s socioeconomic space. The latest National Bureau of Statistics (NBS) ‘CPI and Inflation Report January 2024’ report posted on its website on Thursday indicated that the increase in the general price level […]
The Central Bank of Nigeria (CBN) has raised the foreign exchange (FX) rate for the clearance of goods from N1444.56/$ to N1515.09 against the one United States dollar (USD), representing an increase of N70.53 compared to the prior rate. Before the latest adjustment of the rate, the single-window trade portal of the Nigeria Customs Service […]
Ogun State Governor, Prince Dapo Abiodun, has announced a N5 billion intervention fund to cushion the effect of rising cost of living and inflation in the state. The governor, during a media chat in Abeokuta, said the fund would cover education, health, workers’ deduction and food palliative. He said: “As our administration acknowledges the concerns […]
The Nigerian Maritime and Safety Administration (NIMASA) has commenced moves for the deployment of the Modular Floating Dock to the operational base as part of its current efforts to enhance port operations in the country. Already, the agency has moved the Floating Dock to a jetty at the Standard Flour Mills in Apapa preparatory to […]
Ogun State Government will from tomorrow through Friday, 16 February, be hosting the 18th edition of the National Council on Transportation, with the theme ‘Embracing Innovations and Technologies For Sustainable Transportation: Tackling The Energy Challenges’ in Abeokuta, the state capital. The meeting, to be hosted by Governor Dapo Abiodun, will have in attendance the Minister […]
The Federal Government has inaugurated an Inter-Ministerial committee from the Ministry of Power and Gas to investigate the root causes of the lingering gas supply shortfall to electricity generation companies (GenCos) and come up with recommendations on how the challenge could be permanently addressed. The initiative was taken following a meeting between the two Ministries […]
The Federal Government has set up three funds with a total value of N200 billion for disbursement to micro, small, and medium-sized enterprises (MSMEs) and Nano business owners nationwide. By description, Nano business is a form of business without a formalized strategic business plan or short-term plan and without any expansion projection . The funding […]