Article Summary The National Youth Service Corp (NYSC) anticipates that the Federal Government will approve the Endowment Trust Fund (Establishment) Bill during the organization’s 50th anniversary. Mrs Yetunde Baderinwa, the NYSC Coordinator in Lagos State, expressed this expectation at a thanksgiving service for the NYSC’s 50th anniversary. The Bill has already passed the third reading …

NYSC Anticipates Approval of Endowment Trust Fund Bill Read More »

Article Summary Senate Whip, Orji Uzor Kalu, proposes the establishment of an ‘Entrepreneur’s Fund’ by the Federal Government to curb Nigeria’s escalating unemployment. The call came during the inauguration of Tastia Restaurant and Bakery, the largest food court in Abuja. Kalu commends the owner, Kesta Agwu, for creating over 1,000 jobs and emphasizes the need …

Senate Whip Advocates for ‘Entrepreneurial Fund’ to Mitigate Unemployment Read More »

Article Summary The World Bank Country Director, Shubham Chaudhuri, has advised Nigeria’s federal and state governments to reflect on the financial implications of maintaining a fuel subsidy regime. Chaudhuri expressed concern over the growing debt of some states and warned that the situation could worsen depending on the government’s decision regarding the fuel subsidy. News …

World Bank Urges Nigerian Government to Reconsider Continuous Fuel Subsidy Read More »

Article Summary The Infrastructure Concession Regulatory Commission (ICRC) forecasts a $3.7bn investment from the private sector following the Federal Executive Council’s (FEC) approval to concession three ports. Director-General of ICRC, Michael Ohiani, notes the concession of the Burutu Port, the Ondo Port, and the Snake Island Terminal. The approvals, part of several others, mark the …

Private Sector Expected to Invest $3.7bn Following Concession of Three Ports Read More »

The National Pension Commission (PenCom) has announced that the country’s total pension assets currently exceed N15.58 trillion. PenCom’s Director-General, Aisha Dahir-Umar, revealed this at a workshop organised for the Labour Writers Association of Nigeria (LAWAN). The event, which took place in Lagos, was themed “Securing the Future: The Benefits of the Contributory Pension Scheme to …

Nigeria’s Pension Assets Soar to N15.58 Trillion, says PenCom Read More »

The previously bullish trend that began the month in the stock market was abruptly halted due to investors’ resurgence of profit-taking activities. The main culprit for this downturn was a significant sell-off on BUA Cement, whose value plummeted by 8 per cent over the week, causing a 0.43 per cent decrease in the benchmark index …

Stock Market Rollercoaster: N137bn Wiped Out as Bears Roar Back Read More »

The Presidency has attributed the current high inflation rate in the country to global economic disruptions and the COVID-19 pandemic, not the policies of President Muhammadu Buhari’s administration. Malam Garba Shehu, the President’s spokesman, made this assertion in response to a Guardian newspaper article linking the inflation surge to the Buhari administration. In his statement, …

Global Factors Behind High Inflation, Not Buhari’s Policies, Presidency Asserts Read More »

The Central Bank of Nigeria (CBN) has taken a decisive step towards enhancing financial inclusion in Nigeria by unveiling its Financial Literacy e-Learning Platform, “SabiMoni.” The CBN Governor, Mr Godwin Emefiele, announced this development in Abuja and emphasized the apex bank’s commitment to achieving a 95% financial inclusion rate by next year. Emefiele expressed optimism …

CBN Unveils ‘SabiMoni’: A Bold Step Towards Achieving Financial Inclusion in Nigeria Read More »

The latest data reveals a concerning trend as Nigeria’s inflation rate ascends for the fourth month, hitting 22.22% in April, up from 22.04% recorded in March. This insight comes from the National Bureau of Statistics’ recently published Commodity Price Index report. An examination of the figures shows that April’s inflation rate has experienced a rise …

Inflation Reaches 22.22% In Nigeria Read More »

The Debt Management Office (DMO) attributes Nigeria’s ballooning debt to continuous budget deficits run by governments over the years. DMO’s Director-General, Patience Oniha, recently shared these insights with the News Agency of Nigeria (NAN) in Abuja. Oniha pointed out that Nigeria’s fiscal data review shows a consistent pattern of budget deficits, mainly financed through local …

Soaring Debt Tied to Persistent Budget Deficits, DMO Reveals Read More »