As Nigeria commemorate its annual Democracy Day, citizens across the nation reflect on the country’s democratic journey since the return to civilian rule in 1999. Democracy, defined as a government of the people, by the people, and for the people, is celebrated worldwide, with each democratic nation setting aside a […]
Economy
The Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi (SAN), has criticized the organized labour’s nationwide strike that began today. Fagbemi, in a letter dated June 1, 2024, to the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) leaders, argued that the strike violates a subsisting National […]
Two Nigerian fashion icons, Dumebi Andrea Iyamah (brand name Andrea Iyamah) and Ruth Erikan James (brand name Veeke James), will be featured as guests on this week’s Globacom-sponsored African Voices Changemakers on CNN. Born and raised in Lagos, Nigeria, Andrea Iyamah is a fashion designer who is Canadian-Nigerian. Her fashion […]
The Federal Government has announced the indefinite suspension of the Air Nigeria Airline project. Festus Keyamo, Minister of Aviation and Aerospace Development, confirmed the suspension during a ministerial press briefing in Abuja, which marked President Bola Tinubu’s first year in office. The Nigeria Air project was initially unveiled in 2023 […]
The Nigeria Customs Service (NCS) has hiked the foreign exchange (FX) rate for import duties to N1,441.58 per dollar, marking a 4.94 percent increase compared to the previous rate of N1,373.64/$ set on May 1. This adjustment was noted by customs officials last Friday on the federal government’s single window […]
As Nigeria commemorates Workers’ Day, it is important to reflect on the significance of this day and the resilience of the Nigerian workforce in the midst of challenging economic conditions. The current economic situation in Nigeria has undoubtedly placed a heavy burden on workers, with rising inflation, unemployment, and economic […]
The Nigerian naira witnessed a continued depreciation on Wednesday, trading at N1,308.52 against the dollar at the official market. Data sourced from the FMDQ Exchange, the regulatory body overseeing the Nigerian Autonomous Foreign Exchange Market (NAFEM), revealed a significant drop of N8.37 in the value of the naira, representing a […]
Indications suggest that domestic airlines operators could soon be slashing ticket prices for passengers, thanks to the forthcoming supply of aviation fuel, Jet A1, by Dangote Refinery. The recent years witnessed a continual surge in jet fuel costs, compelling indigenous carriers to hike ticket prices to sustain operations. On February […]
At the ongoing Spring Meetings of the International Monetary Fund (IMF)/World Bank in Washington DC, the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, made a statement emphasizing the bank’s stance on defending the naira. In a departure from past practices, Cardoso clarified that it is not the […]
Despite the recent strengthening of the Naira against the Dollar in the foreign exchange market, the cost of goods and services in Nigeria continues to surge, painting a concerning picture for consumers. According to the National Bureau of Statistics (NBS), headline inflation skyrocketed to 33.20 percent, with food inflation spiking […]