Experts express concerns over CBN’s new 27.25% interest rate, citing negative impacts on investment and economic growth Financial experts have expressed serious concerns over the recent hike in the Central Bank of Nigeria’s (CBN) Monetary Policy Rate (MPR) to 27.25%. They warn that the increase could severely affect investment opportunities and hinder overall economic growth…
The Central Bank of Nigeria increases the monetary policy rate in a bid to stabilize inflation and manage liquidity challenges The Central Bank of Nigeria (CBN) raises interest rate to 27.25%, marking a significant shift in monetary policy as the country grapples with inflationary pressures. The Central Bank’s Monetary Policy Committee (MPC), during its 297th…
Aliko Dangote calls for the elimination of petrol subsidies, asserting that local production at his multi-billion-dollar refinery will help stabilize the naira, lower inflation, and reduce government expenditure. In a recent statement, Aliko Dangote strongly advocated for the removal of petrol subsidy, citing it as essential for stabilizing the Nigerian economy. He pointed out that…
The price of cooking gas in Nigeria experienced a sharp increase of 69% in August 2024, exacerbating the financial strain on households already grappling with rising living costs. This surge reflects the ongoing volatility in the country’s energy sector, driven by factors such as global oil price fluctuations and supply chain disruptions. According to data…
In a troubling incident, Governor Peter Mbah’s petrol station—Pinnacle Oil—was engulfed in flames in Enugu. The arson attack occurred along Agbani Road, directly across from Roban Stores, sending shockwaves through the local community. Details surrounding the fire remain limited, but reports indicate that unidentified hoodlums executed the attack, raising urgent concerns about security and the…
The United Kingdom’s national debt has soared to a record high, raising concerns about the country’s financial stability as the government prepares to make difficult decisions to address the mounting economic challenges. The historic debt milestone comes amid rising inflation, increasing public spending, and the ongoing recovery from the economic impact of the COVID-19 pandemic….
Can Nigeria’s New Tax Policies Bring Real Benefits Amidst Economic Challenges? Nigeria’s ongoing economic challenges have revived discussions about the role of taxation in achieving financial freedom. The administration of President Bola Tinubu is advancing significant tax reforms, but these initiatives come with their own set of historical and contemporary challenges. Much like the 16th…
Learn the essential strategies to land remote jobs that pay in dollars, enhance your personal development, and work toward financial freedom Simple Steps to Secure Remote Jobs and Earn in Dollars: Unlock Financial Freedom In today’s digital economy, the competition for remote jobs is fierce. However, with the right approach, you can stand out and…
In response to Nigeria’s ongoing FX crisis and the significant devaluation of the naira, multinational consumer goods company PZ Cussons has initiated plans to sell its Nigerian subsidiaries. The decision to sell Nigerian subsidiaries comes as the company seeks to mitigate its exposure to currency fluctuations, with the naira losing 70% of its value over…
Jelfah invests N24bn, as Enugu divests 60 per cent equity stake Enugu State Government and Jelfah Nigeria Ltd have signed a N40bn deal for the revitalisation of the long-moribund and state-owned Sunrise Flour Mills, Enugu. The deal, which was signed at the Government House, Enugu, today, saw Jelfah acquire 60 per cent equity stake in…
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