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Nigeria's inflation will fall to 21% in 2024 - Cardoso
featured

Nigeria’s inflation will fall to 21% in 2024 – Cardoso

Despite rising food and commodity prices,  the governor of the Central Bank of Nigeria, Olayemi Cardoso, has guaranteed that Nigeria’s inflation rate will decline to 21.4% in 2024. Cardoso disclosed this to MPs during his briefing during the sectoral debate on the economy on Tuesday, February 6, 2024, in the House of Representatives. Cardoso bemoaned the […]

NNPCL fuel subsidy gains not fully remitted - World Bank
News

Seven Nigerian states to face food crisis in 2024 — W’Bank

Borno, Adamawa, Kaduna, Katsina, Yobe, Sokoto, and Zamfara states are the ones the world bank spoke about. According to the World Bank’s most recent Food Security report, because of armed conflict and other factors that are lowering living standards throughout the area, seven states in the North-west and North-east are expected to be at crisis food […]

Fuel, electricity tariff cap costly, IMF warns Nigeria
News

IMF Projects Nigeria’s inflation rate to drop to 15.5% in 2025

Nigeria’s inflation rate is expected to drop to 15.5 per cent in 2025 and 23 per cent in 2024, according to the International Monetary Fund. The IMF’s Division Chief of Research Department, Daniel Leigh, made a suggestion about this during the recent World Economic Outlook update press conference. As of December 2023, Nigeria’s inflation rate was […]

ESCAP urges urgent CBN MPC meeting to raise interest rates
Banking

ESCAP urges urgent CBN MPC meeting to raise interest rates

The director of ESCAP Management, Esili Eigbe urged Olayemi Cardoso, the governor of the Central Bank of Nigeria to convene an urgent Monetary Policy Committee (MPC) meeting in order to raise interest rates at the bank. He added that while the Central Bank’s reforms on the Forex market are a positive development, they were implemented later than necessary. Despite […]

Senate moves to increase Custom's 2024 revenue target
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Senate moves to increase Custom’s 2024 revenue target

In order to avoid more borrowing for the nation, the Nigerian Senate has notified the Nigeria Customs Service that the agency’s N5.079 trillion income target for 2024 will be reevaluated upward in the latter half of the year. If approval is given, Adeniyi clarified, people who own cars that were illegally imported or that have […]

6000 brands receive certification from SON
News

6000 brands receive certification from SON

The Standards Organisation of Nigeria has demonstrated its dedication to maintaining quality standards in the nation by successfully certifying an astounding 6000 brands. The former director of product certification at SON, Tersoo Iyorshe Orngudwem revealed this information at a retirement celebration in Abuja. According to him, the accreditation is a major step forward in the continuous […]

Elon Musk blames 'Supervillain-Level' cyberattack for X outage
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Tesla capitalization: Musk’s wealth drops $30bn in 2024

By Alex Omenye The year 2024 has not been favorable for billionaire Elon Musk, as his net worth takes a hit following a $30 billion drop in Tesla’s market capitalization at the close of Monday’s trading session. Elon Musk’s net worth experienced a $3.9 billion decline, bringing his valuation to $194 billion, according to Forbes […]

Alphabet seeks outside funding to scale internet provider GFiber
Tech

Alphabet seeks outside funding to scale internet provider GFiber

Alphabet intends to increase the pace of its development into new cities by seeking outside financing for GFiber, the subsidiary that offers internet and Wi-Fi access in select areas of the United States, according to a report by Reuters on Monday. The parent company of Google owns GFiber, which is in competition with major ISPs […]

World Bank bans Nigerian companies, CEO over fraudulent practices
Banking

World Bank MD to visit Nigeria

By Christian George The World Bank’s Managing Director of Operations, Anna Bjerde, will visit Nigeria on February 6, 2024 to meet with ministers and Central Bank of Nigeria governor. Bjerde who is expected to spend two days in the country will focus more on the key pillars of Nigeria’s development strategy. According to a statement, […]

Pharmaceutical companies support local production with N600bn intervention fund
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Pharmaceutical companies support local production with N600bn intervention fund

A N600 billion Pharmaceutical Manufacturing Development Fund, with a five percent interest rate for a minimum seven to ten-year duration, is being proposed by the Federation of Nigerian Pharmaceutical Industry Associations. During a forum organised by FeNPIA in honour of Prof. Muhammad Pate, the Coordinating Minister of Health and Social Welfare, the group made the […]

Snapchat expands AI features for paid subscribers
Tech

Snapchat lays off 528 workers as job cuts continue

Snap on Monday, said that it will lay off about 528 workers, or 10% of its total workforce worldwide. The company, which controls the photo-messaging app Snapchat, has long had trouble competing with bigger rivals like Facebook owner Meta Platforms, which announced its first dividend on Thursday following employee layoffs last year, and converting its […]

$20bn spent yearly by African countries on wheat import - TAAT
Business

$20bn spent yearly by African countries on wheat import – TAAT

The Head of the Technologies for African Agricultural Transformation Clearinghouse, Dr. Solomon Gizaw, has stated that Africa spends about $20 billion a year on wheat imports. According to The Times, he made this statement at a Train-the-Trainer course on wheat seed production in Kano. He claimed that supply delays and higher wheat prices in Africa have resulted […]

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