Cost of healthy food rises by 32% in five months
Nigerians face acute malnutrition as the average cost of purchasing healthy food daily increased by 32 per cent in the five months, rising to N1,041 in May 2024 from N786 in December
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Naira depreciation adds N17.8 trillion to public debt in three months
The Debt Management Office (DMO) said naira depreciation alone increased the total debt stock by N17.8 trillion in quarter one (Q1), dismissing the claim that the government has continued to pile up
NCC to sanction telcos for poor services
The Nigerian Communications Commission (NCC) has disclosed plans to sanction telecommunications service providers that render poor services. Executive Commissioner, Technical Services, Abraham Oshadami, during the opening of a two-day upskilling programme for
Why public debt is rising — DMO
The Debt Management Office (DMO) has explained that the rise in Nigeria’s public debt stock is partly due to exchange rate volatility, new borrowing, and Ways and Means securitisation. In a statement
Government raises N3.8 trillion from bonds in six months
The federal government has realised N3.77 trillion from bond auctions in the first six months of the year, an analysis of the results of the bond auctions conducted by the Debt Management
FG bans single-use plastics, styrofoam packs in MDAs
The Federal Government has banned the use of single-use plastics across all Ministries, Departments and Agencies (MDAs).The House of Representatives had earlier in February this year called on the Federal Government to
Nigeria’s terms of trade down by 0.12 percentage points in Q1
All commodity terms of trade (ToT) declined by 0.12 percentage points in the first quarter of 2024 (Q1’24), just as the value of imports increased by 0.51 percentage points during the period.
Price of rice soars by over 180% in 12 months, beans hits 219%
ACCI calls on govt to mitigate food inflation crisis The price of rice, a staple food for most Nigerian households, increased by 189.79 per cent between May 2023 and May 2024. During
Nigeria’s public debt jumps to N121.67trn
Nigeria’s total public debt has increased significantly to N121.67 trillion as of March 31, 2024. The Debt Management Office (DMO) in a statement yesterday evening said this figure encompasses the combined domestic
Naira depreciation pushes cooking gas prices up by 70% in 12 months
The sharp depreciation of the naira and the country’s dependence on the importation of liquefied petroleum gas (LPG) also known as cooking gas has pushed up the price of the product by
Forex volatility pushes cooking gas price up by 70%
The volatile foreign exchange rate and Nigeria’s high dependence on the importation of Liquefied Petroleum Gas (LPG) also known as cooking gas is reportedly responsible for the spike in the price in