Category: Economy

Feb

14

2025

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By People&Politics

STCI: Creating Safe Spaces For Adolescent Girls Through Life Skills In Sokoto

Economy

By Shafa'atu Suleiman, Sokoto In a world where adolescent girls face numerous challenges, including poverty, inequality, menstrual scarcity, mental health issues and violence, creating safe spaces for them is crucial for their well-being. Save the Child Initiative (STCI) in collaboration with the Adolescent Girls' Initiative for Learning and Empowerment (AGILE) project in Sokoto, North-West Nigeria, is doing just that – providing a haven for adolescent girls to thrive. According to the United Nations Children's Fund (UNICEF), one in five girls worldwide experiences sexual violence before the age of 18. In Nigeria, the statistics are equally alarming, with 30% of girls…

Feb

10

2025

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Court Jails Fake Bureau De Change Operator in Lagos

Economy, News

Justice Chukwujekwu Aneke of the Federal High Court sitting in Ikoyi, Lagos, on Wednesday, February 5, 2025, convicted and sentenced one Faruk Umar to six months imprisonment. The convict, alongside others, was arrested on August 26, 2024, following credible intelligence on the activities of illegal Bureau De Change operators at the Eko Hotel area of Victoria Island, Lagos. He was subsequently arraigned by the Lagos Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, on a one-count charge bordering on fraudulent foreign exchange transactions. The charge reads: “That you, Faruk Umar, sometime in August, 2024 at Eko Hotel Area,…

Feb

04

2025

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Hunger: Alarm In Households As Nigerian Food Staple, ‘Akpu’ Now Down To Egg Size

Economy

By Achadu Gabriel, Kaduna As hardship orchestrated by the President Bola Tinubu administration's removal of fuel subsidy takes a toll on ordinary Nigerians, the situation has forced all sorts of painful socio-economic adjustments by the masses. Findings showed that,on a personal level, the objective for many ordinary Nigerians is to stay alive by any means possible, given that most families are not feeding as well as in past decades. It was also discovered that many petty traders, including food items producers, have devised strategies to manage to stay in business, rather than go under and await the inevitable. The case…

Feb

01

2025

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Nigerian Shippers’ Council Highlights Kebbi’s Economic Potentials As Local Businessman Exports $40m Onions

Economy

By John Bassey, Birnin Kebbi The massive economic potentials of Kebbi State took centre stage when top officials of Nigerian Shippers' Council came calling to the North-West Nigerian State. Aspects of the potentials, particularly the vast water body located in Dolekaina, Dandi Local Government Area (LGA), suitable for shipping and fishing activities, were highlighted. Nigerian Shippers’ Council was established under military rule in 1978 but the decrees governing its existence later became Act Cap. N133, Laws of the Federation of Nigeria 2004,under civilian democratic rule. The Council is Nigeria's port economic regulator. A delegation from the Council held a town…

Jan

15

2025

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Inflation Rate Keeps Rising In Nigeria, Hits 34.80% -NBS Releases Latest Figures

Economy

By our reporter Nigeria's National Bureau of Statistics (NBS)said on Wednesday, January 15 that the nagging inflationary spiral in the country had reached 34.80%,as of December,2024. It was 33.60% in November, 2024. NBS disclosed these in its latest Consumer Price Index (CPI). On its official Facebook account,which has a modest 15,000 followers, NBS said:"In December 2024, the Headline inflation rate was 34.80% relative to the November 2024Headline inflation rate of 34.60%. "Looking at the movement, the December 2024 Headline inflation rate showed a marginal increase of 0.20% compared to the November 2024 Headlineinflation rate. This was due to December festive…

Jan

13

2025

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Northerners, South-Westerners Don’t Own Properties In South-East,But I’ll Break The Ice,Says Senator Sani

Economy

By Achadu Gabriel, Kaduna Frank-talking Senator Shehu Sani, who represented Kaduna Central senatorial district in the 8th Senate, has regretted that many persons from the Northern and South-Western parts of Nigeria do not own properties in the South-East of the country. While not blaming the South-Easterners for the development, Sen. Sani described the South-East as beautiful. He opted to purchase a piece of property there, periodically visit the place for holidays, and thus encourage persons from the North and South-West to do same. Sen. Sani, in his verified X (formerly Twitter) handle, posted that Northerners and South-Westerners do not usually…

Aug

28

2024

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NCC: September 14, 2024 Is Final Deadline for NIN-SIM Linkage Compliance

BREAKING, Economy

The Nigerian Communications Commission (NCC) has announced September 14 this year as deadline for full compliance with the NIN-SIM linkage policy. It has therefore directed all Mobile Network Operators (MNOs) to complete the mandatory verification and linkage of SIMs to NINs by that date. In a statement signed by its Director of Public Afdairs, Reuben Muoka, the Commission said significant progress has be recorded in the Federal Government’s 2020 policy to link all Subscriber Identification Modules (SIMs) to National Identity (NINs). To date, over 153 million SIMs have been successfully linked to a NIN, reflecting an impressive compliance rate of 96 per…

Aug

22

2024

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Wale Tinubu’s Oando Completes $783m Acquisition Of Nigerian Agip Oil Company

Economy

Oando PLC has finalised its acquisition of Nigerian Agip Oil Company (NAOC) from Italian energy major Eni, marking a significant achievement in its long-term growth strategy. The total consideration for the deal is $783 million, which includes reimbursement and consideration for the asset, as confirmed by Oando in a press release. The landmark transaction, according to Mr. Wale Tinubu, Group Chief Executive, Oando PLC, is the "culmination of ten years of toil, resilience, and an unwavering belief in the realisation of our ambition since the 2014 entry into the Joint Venture via the acquisition of Conoco-Philips Nigerian Portfolio". The Nigerian…

Aug

03

2024

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What Nigerians Expect From President Tinubu’s Nationwide Broadcast

Economy

By SHEDDY OZOENE After three days of nationwide protests over bad governance in the country, President Bola Ahmed Tinubu has scheduled to address the nation on Sunday. Chief Ajuri Ngelale, Special Adviser to the President on Media and Publicity, announced this in a statement, on Saturday. The spokesman said the broadcast would hold at 7am. The Protesters had requested that the President address the nation on the many demands they have laid out. There is so far no insight into what the broadcast will contain and it is doubtful that Tinubu chose to address the nation because the protesters said…

Jul

26

2024

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NNPC Exonerated From Financial Misgivings Alleged By SERAP

Agro, Economy, News

By Hadiza Suleman The National Civil Society Council of Nigeria (NCSCN), Friday, said corruption allegations against the the Nigerian National Petroleum Company Limited (NNPCL) were untrue. Recall that the Socio-Economic Rights and Accountability Project (SERAP) claimed there was missing $2.04bn and N164bn in oil revenues. The executive director of NCSCN, Comrade Blessing Akinlosotu, told newsmen in Abuja that the group conducted investigations, which exonerated NNPCL. Quoting him, "Right from the days of NNPC till this era of metamorphosis to a largely private sector driven business organization, the NNPCL carries a negative public image of corruption and distrust by the Nigerian…