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Economics at politicsnigeria.com

Tuesday, Jul 2

21

Akpabio backs Wike amid criticisms, blasts Senator Kingibe

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Senate President Godswill Akpabio has urged FCT minister, Nyesom Wike to disregard criticisms from Senator Ireti Kingibe and concentrate on delivering key infrastructure projects. Akpabio made the comment at the commissioning of the Kugbo…

20

Fireworks as Rivers lawmaker walks out of plenary over alleged discrimination

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There was a mild drama on the floor of the House of Representatives on Tuesday following a disagreement between Rivers lawmaker, Cyril Hart, and deputy speaker Benjamin Kalu. Hart had accused Kalu of discriminating against new lawmakers by…

Tinubu appoints Salamatu Ahmed as Executive Secretary of FG staff housing loans board

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President Bola Tinubu has approved the appointment of Hajiya Salamatu Ladi Ahmed as the Executive Secretary of the Federal Government Staff Housing Loans Board (FGSHLB). The announcement was made by Dr Folasade Yemi-Esan, the Head of the…

Bill to Create Fresh South East State Passes First Reading in House of Reps

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A bill seeking to create a new state, Etiti State, from the existing five Southeast states has been introduced on the floor of the House of Representatives and passed for first reading.This comes weeks after the introduction of another…

19

Senate passes bill to allow foreign nationals in Nigeria obtain NIN

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The National Identify Management Commission (repeal and enactment) Bill 2024 has scaled second reading at the Senate. The bill seeks to allow all persons, including foreigners residents in Nigeria, the right to obtain and use National…

Four Lawmakers Suspended in Imo State Over Alleged Plot to Impeach Speaker

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The Imo State House of Assembly has suspended four of its lawmakers who are accused of plotting to impeach the Speaker, Chike Olemgbe. The suspended lawmakers include Samuel Otuibe representing Ahiazu-Mbaise constituency, Henry Agbasonu…

Petrol hits N937 per litre in Jigawa

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The National Bureau of Statistics (NBS) has said that the average retail price paid by consumers for Premium Motor Spirit (Petrol) increased to N937 per litre in Jigawa State. According to the report ‘Premium Motor Spirit Price Watch (May…

11

BREAKING: President Tinubu Approves New Withholding Tax Policy

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President Bola Tinubu has approved a new withholding tax policy, replacing the outdated one approved in the 1977 regime.Taiwo Ayodele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, announced the development on…

10

INEC Set to Release Report on 2023 Election

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The Independent National Electoral Commission (INEC) has announced that it will soon make public the report on the conduct of the 2023 General Election, as well as the report of the review committee that analyzed the election’s conduct…

How Konga ex-CEO, Nick Imudia died — Househelp

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The maid (name withheld) of the former Chief Executive Officer of Nigerian e-commerce giant, Konga, the late Nick Imudia, has provided more details about the death of the boss. According to a close friend of the deceased who spoke on the…

Monday, Jul 1

21

BREAKING: Nigeria’s money supply hits N99.24 trillion in May 2024

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The Central Bank of Nigeria (CBN) has reported a surge in the nation’s money supply, which reached a new high of N99.24 trillion in May 2024. This marks a 2% increase from the previous month’s figure of N96.97 trillion and a remarkable…

Alia reacts as plan to dethrone prominent Benue monarch thickens

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Governor Hyacinth Alia of Benue State has reacted to fresh plans to dethrone Ochi-Idoma Elaigwu Odogbo. The social media space has been agog with rumours of plans to remove and replace the Ochi-Idoma over his support for the Alia…

18

BREAKING: Nigerian, Ghanaian Content Creators Can Now Earn Money on Facebook – Meta Declares

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Social Media giant, Meta, has announced that content creators from Nigeria and Ghana can now monetize their content on Facebook, starting from Monday, July 1, 2024. This move comes as the company rolls out two new monetization features: In…

Sunday, Jun 30

13

Cardoso issued 7-day ultimatum to account for missing N100 billion

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The Socio-Economic Rights and Accountability Project (SERAP) has urged Olayemi Cardoso, governor of the Central Bank of Nigeria, to account for and explain the whereabouts of the over N100 billion dirty and bad notes and other large sum of…

11

BREAKING: Former chief of defence staff dies in Abuja [PHOTO]

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A former Chief of Defence Staff, Admiral Ibrahim Ogohi, has been confirmed dead. According to a family source, former military chief died in the early hours of Sunday, June 30, after a brief illness. It was gathered that the deceased had…

Saturday, Jun 29

20

BREAKING: Zamfara Gov’t Rejects Federal Permanent Secretary Appointed by President Tinubu

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The Zamfara State Government has rejected the appointment of Maryam Ismaila as a permanent secretary by President Bola Tinubu. The state government claims that Ismaila is not an indigene of Zamfara State and does not meet the…

17

BREAKING: Shareholders funds wiped out as PZ Cussons reports N96.4 billion net loss

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Consumer goods company PZ Cussons has reported a net loss of N96.4 billion for the fiscal year ending May 31, 2024. According to its latest unaudited financial statements, the losses resulted in the company posting a negative equity of N47…

BREAKING: “We’re not planning to run four budgets in 2024” – Presidency replies BudgIT

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Temitope Ajayi, the Senior Special Assistant to the President on Media and Publicity, has refuted claims that the Federal Government (FG) plans to implement four budgets within the 2024 fiscal year. Ajayi addressed these rumours following…

12

BudgIT Slams FG’s Plan to Implement Four National Budgets Concurrently

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A civic tech organization, BudgIT, has slammed a move by the Nigerian Federal government to implement four national budgets simultaneously.The organization has warned of severe budget credibility issues and potential negative impacts on…

09

Nigeria to spend $22 million annually maintaining presidential fleet

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Nigeria’s presidential fleet, consisting of 10 aircraft, incurs an annual maintenance cost of approximately $22,147,873. The fleet includes a variety of aircraft as the Boeing Business Jet (B737 BBJ), Gulfstream 550, Gulfstream V, Falcon…

04

CBN issues new directive on dollar, other foreign currency deposits

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The Central Bank of Nigeria (CBN) has released new directive for Deposit Money Banks (DMBs) with regards to the deposit of foreign currency notes across the country. This new guideline was detailed in a circular issued by the Director of…

Friday, Jun 28

22

BREAKING: President Tinubu Signs Executive Order to Slash Pharmaceutical Prices

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President Bola Tinubu has signed an executive order to introduce zero tariffs, excise duties and value-added tax (VAT) on imported pharmaceutical inputs.This was made known in a statement on Friday by the coordinating minister of health…

21

BREAKING: President Tinubu Announces Eight New Appointments

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President Bola Tinubu has approved the appointment of eight new Federal Permanent Secretaries to fill in existing and impending vacancies in some states and geo-political zones in the top administrative cadre of the Civil Service of the…

20

Natasha Akpoti appoints 100 aides, gives reason

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The Senator representing the Kogi Central Senatorial district, Natasha Akpoti-Uduaghan has appointed 100 aides. Speaking through her media aide, Arogbonlo Israel on Friday, the senator disclosed that the appointments were imperative to…

19

Shettima issues fresh directive to heads of govt agencies on Tinubu’s 8-point agenda

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Vice President Kashim Shettima has said that a business environment that fosters innovation, creativity, and productivity must be built on the pillars of President Bola Ahmed Tinubu’s 8-point agenda. He implored members of the Presidential…

Tinubu reacts to Abuja market fire

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President Bola Tinubu has sympathised with the victims of the fire incident which occurred in Karu market in the Federal Capital Territory. The special adviser to the President on media and publicity, Ajuri Ngelale, made this known in a…

17

JUST IN: NLC rejects governors’ attempt to dictate minimum wage

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The Nigeria Labour Congress (NLC) has strongly criticized recent statements by some Nigerian Governors expressing their desire to unilaterally determine the minimum wage for workers. In a statement released by Benson Upah, Head of…

11

FG Announces Boost in Nigeria’s Economy as Excess Crude Account Hits $473.75m

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The Federal Government has announced improvements in the nation’s economy, with the Excess Crude Account (ECA) which stands at $473.75 million and the Natural Resources Fund which is N53.89 billion. The Minister of Finance, Wale Edun,…

09

FG Set to Purchase Luxury Airbus A330 Aircraft Seized From Arab Prince

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The Nigerian Federal Government plans to buy a repossessed Airbus A330 aircraft previously owned by an Arab prince and businessman. POLITICS NIGERIA learnt that the aircraft which has an elaborate VIP configuration was seized by a German…

Thursday, Jun 27

23

Nigeria to establish anti-dopping centre as Reps pass bill prohibiting drug use for athletes

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Like the Senate, the House of Representatives has passed the bill seeking to domesticate and enforce the International Convention against Doping in Sports. If signed into law, Nigeria will establish the Nigeria Anti-Doping Centre. The…