The combined average prices of tomatoes, garri and beans rose 205.36 percent in May 2024 compared with May 2023, according to a recent report by the National Bureau of Statistics (NBS). NBS’s price watch for selected food in May revealed that on a year-on-year basis, the average price of 1kg […]

Professional firm, PwC, has urged the federal government to halt plans for further increase in taxes as businesses and households still grapple with the effects of its different market reforms. PwC, in its latest economic outlook, “Navigating Economic Reforms”, said adding more taxes may lead to a decline in reinvestment and […]

Nigerians are making Canada their new home in record numbers. The country has now recorded its highest number of Nigerian permanent residents (PRs) in over a year. According to recent data from Immigration, Refugees and Citizenship Canada, up to 1,905 Nigerians permanently reside in Canada as of April 2024, its highest since […]

…Says Tinubu inherited N22.7 T in Ways and Means The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, said the current prudent management of the federal government income has helped to stabilize the economy, this leading to less reliance on borrowing to fund government activities. The Minister […]

Professional services firm, PwC, has stated that the interventions by the Central Bank of Nigeria will stabilise the naira in the long run. That was indicated in its latest Nigeria economic outlook, titled ‘Navigating economic reforms’. PwC said, “Interventions by CBN may cause the Naira to stabilise in the long-term. […]

Barring any last-minute change of plan, the Federal Executive Council (FEC) is expected to meet today to deliberate on salient matters aimed at tackling some of the problems bedevilling the country. Daily Trust gathered that the meeting is expected to consider some serious matters of state including the vexed issue […]

The Managing Director, ExxonMobil Nigeria, Shane Harris, has declared that the oil major is not leaving Nigeria as claimed in some quarters, particularly after the oil firm’s proposed divestment of a 100 per cent interest in Mobil Producing Nigeria Unlimited to Seplat Energy Offshore Limited. Harris, who disclosed this at […]

The Naira yesterday depreciated in the parallel market to N1,505 per dollar from N1,495 per dollar last weekend. Similarly, the Naira depreciated to N1,490.2 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM. Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,490.2 per dollar […]

Out of 10 listed Nigerian banks, United Bank for Africa (UBA) Plc, Access Holdings Plc and FBN Holdings were the most liquid banks in the first quarter of 2024, BusinessDay analysis has revealed. The cumulative cash and cash equivalents of UBA, Access Holdings Plc, FBN Holdings, Guaranty Trust Holding Company, Zenith Bank, Stanbic IBTC […]