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Economics at dailypost.ng

Friday, Jul 26

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House Committee tasks FCT investment managers to work with capable partners

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The House of Representatives Committee on FCT has advised the Abuja Investment Company Limited, AICL, the company saddled with the responsibility of managing infrastructure in FCT, to ensure collaboration with only capable and willing…

23

White women raise $2m in Zoom meeting for VP Kamala Harris

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More than 164,000 white women gathered online on Friday and raised nearly $2 million for American vice president and presidential hopeful Kamala Harris. Dubbed ‘White Women: Answer the Call,’ the occasion became the largest Zoom meeting in…

21

Naira slumps against dollar to end week on negative note

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The naira slumped further against the dollar to end the week on a negative note. FMDQ data showed that it depreciated to N1609.29 per dollar on Friday from N1603.80 exchanged on Thursday. This represents a N5.49 loss. Similarly, at the…

18

Reinstate Ndume as Senate Chief Whip now – Borno APC leaders

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Leaders of the Southern Borno Chapter of the All Progressives Congress, APC, have demanded the immediate reinstatement of Senator Mohammed Ali Ndume to his position as Senate Chief Whip. Spokesperson for the APC group, Baba Ahmed Mustapha,…

Airfare increase looms in Nigeria as NAMA hikes airline charges by 800%

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Airfare price hike looms as the Nigerian Airspace Management Agency, NAMA says it will extend the hours of service to airlines by 800 percent to N450,000 from N50,000 per extension. NAMA also announced that the new rates for en-route and…

17

Dangote vs NMDPRA: Don’t take sides – Northern group tells Reps

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The Northern Group Frontiers called has called on the House of Representatives to thoroughly investigate the issues surrounding the Dangote Refinery, without taking sides. The call followed the House of Representatives’ motion calling for…

16

Nationwide protest: CSO accuses DSS of freezing bank account

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A civil society organization, The Take-It-Back Movement, has alleged the freezing of its bank account with one of the first generation banks on the instructions of the Department of the State Services, DSS. The group said the action…

Fraud: Kano Judicial Service Commission dismisses court registrar, sanctions others

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The Kano Judicial Service Commission, JSC, has sanctioned six court officials over alleged fraud, extortion and forgery. The JSC took the decision during its 74th meeting held on 22nd July, 2024. Baba Jibo Ibrahim, spokesman Kano State…

15

Transcorp Group’s revenue grew by 114% to N175.4bn in H1 2024

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Nigeria’s Transcorp Group’s revenue grew by 114 percent to N175.4 billion in the first half of 2024 from N82.1 billion in the corresponding period of 2023. The firm disclosed this in a statement made available to DAILY POST on Friday,…

Budget probe: Reps give EFCC chairman 4-day ultimatum to honour invitation

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The House of Representatives Committee on Financial Crimes has given Mr Ola Olukoyede, Chairman of the Economic and Financial Crime Commission, EFCC, till July 30 to appear before it over budgetary allocation issues. The committee said…

Food scarcity: Bauchi farmers get fertilizer as Foundation moves to boost agricultural productivity

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Amid the soaring food inflation in Nigeria, occasioned by shortage of foodstuffs, farmers in Kaduna State have received 6,000 bags of fertilizer and other farm inputs from Wunti Al-khair Foundation as part of a programme aimed at boosting…

14

Afenifere mourns Ohanaeze President-General, Iwuanyanwu

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The pan-Yoruba socio-cultural and socio-political organization, Afenifere, has expressed its condolences to Ndigbo over the demise of the President-General of Ohanaeze Ndigbo, Chief Emmanuel Chukwuemeka Iwuanyanwu. The condolence message…

Imo LG Poll: PDP fixes date for Ward Congress

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Ahead of the Local Government Election in Imo State scheduled for September 21, the Peoples Democratic Party, PDP, has set September 27 to conduct its ward congress in the state. The party has also inaugurated the Congress Planning…

12

US election: Obama endorses Kamala Harris

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Former US president, Barack Obama, on Friday said he would endorse Kamala Harris’ bid for the White House. In a post on his X handle, Obama said he, alongside his wife, Michelle, threw their support behind Kamala Harris, adding that she…

Senator Ndume mobilising youths in my LG against me – Bwala cries out

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Former lawmaker, Senator Daniel Bwala has alleged that Senator Ali Ndume has mobilised some youths from his local government to go all out against him. Bwala said the youths following the plan have set out to hold a press conference…

11

Food inflation: Osun Gov, Adeleke throws weight behind traditional price control

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The Osun State Governor, Adetola Adeleke, has endorsed the traditional approach to food price control introduced by some traditional rulers in Osun State. Governor Adeleke has directed the Food Security Implementation Committee in the…

Arabinrin Aderonke: Finance Act: Windfall Tax explainer

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Why is the Nigerian government introducing a windfall tax, and what does it mean for the economy? As part of economic reforms, President Bola Ahmed Tinubu’s administration has proposed a one-time windfall levy aimed at addressing the…

10

NNPCL announces fresh recruitment exercise

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The Nigerian National Petroleum Company Limited has announced that it commenced recruitment exercise on July 25, 2024. The Company’s spokesperson, Olufemi Soneye disclosed this on Friday through his official X account. He said the firm has…

Iwuanyanwu: Peter Obi reveals last moment with Ohanaeze President-General

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The Labour Party Presidential Candidate in the 2023 general elections, Peter Obi has recalled his visit to the late Ohanaeze President General, Chief Emmanuel Iwuanyanwu at the hospital earlier this month. Obi said the late President…

09

ACF applauds Tinubu for signing Northwest Development Commission bill

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The Arewa Consultative Forum (ACF) has hailed the signing into law the Bill establishing the Northwest Development Commission by President Bola Ahmed Tinubu. The National Publicity Secretary of the forum, Prof. Muhammad-Baba, in a…

Nigerian Bulk Electricity Trading announces Akinnawo as new Managing Director

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The Nigerian Bulk Electricity Trading, NBET, an agency under the Federal Ministry of Power, has appointed John Akinnawo as the new acting Managing Director. The agency disclosed this in a statement on Thursday. Akinnawo’s appointment comes…

Northwest Development Commission: Gov Lawal lauds Tinubu

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Zamfara State Governor, Dauda Lawal has lauded President Bola Ahmed Tinubu for signing the North West Development Commission Bill into law. On Tuesday, the president signed bills creating the Northwest Development Commission, (NWDC) and…

We’re optimistic Nigeria’s inflation will moderate – Finance Minister, Edun

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Minister of Finance, Wale Edun has expressed optimism that Nigeria’s rising inflation which stood at 34.19 percent in June would moderate in the coming months. Edun disclosed this during a press briefing in Abuja on Thursday. According to…

08

Anambra Judiciary workers suspend strike

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Judiciary Workers in Anambra State, under the aegis of Judiciary Staff Union of Nigeria (JUSUN) have suspended their ongoing strike. The suspension came after paralysing court activities in the state for two weeks as a result of protest…

Nigerian banks commence interest rate increase after CBN’s fourth consecutive hike

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Nigerian banks have commenced an interest rate upward review amid the Central Bank of Nigeria’s fourth consecutive rate hike. Recall that at the 296th Monetary Policy Committee on Tuesday, CBN governor, Olayemi Cardoso announced a further…

Assassination attempt: ‘No wonder’ – Trump reacts to FBI Director’s shrapnel, glass claim

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Presidential candidate of the Republican party, Donald Trump, has slammed the FBI Director, Christopher Wray following the security boss’ appearance at the Congress on Thursday. Addressing the congress on the assassination attempt on Trump…

Dangote Refinery: Senate fixes date for public hearing

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The Nigerian Senate has fixed September for the public hearing to resolve the rift between Dangote Group and Nigerian Midstream and Downstream Petroleum Regulatory Authority, Nigerian National Petroleum Company Limited and other regulators…

Nigerian Newspapers: 10 things you need to know Friday morning

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Good morning! Here is today’s summary from Nigerian Newspapers: 1. The Senate through its ad hoc committee mandated to investigate alleged economic sabotage in the Nigerian petroleum industry, has summoned various stakeholders in the…

Thursday, Jul 25

22

Edo guber: INEC discloses political party’s security concerns

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The Independent National Electoral Commission, INEC, has disclosed the security concern that cropped up over the upcoming governorship election in Edo State. The disclosure came from INEC chairman, Prof. Mahmood Yakubu when he appeared…

Alleged economic sabotage: Senate summons petroleum minister, NNPCL, CBN, NPA, others

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The Senate through its ad hoc committee mandated to investigate alleged economic sabotage in the Nigerian petroleum industry, has summoned various stakeholders in the sector for interrogation. The 15-man committee led by the Leader of the…