NDDC, controversial gov’t quango operated without budgets for 3-yrs
Post AMUGE
December 30, 2024
Approached financial institutions to raise N1trn to fund 2024 budget Ben Eguzozie The Niger Delta Development Commission (NDDC), the scandalous quango established by the Nigerian federal government in October 2000, hardly different from its previous character of opacity, phantom projects and phoney contract payments, recently showed that it is difficult to wean it of controversy. Information […]
Fitch flags budget deficit as key driver of potential Naira weakness
Post AMUGEDecember 29, 2024
Onome Amuge Fitch Ratings has flagged the possibility of significant hurdles in Nigeria’s efforts to stabilize its economy, stressing that failure to meet fiscal deficit reduction targets could impede the country’s progress. According to the global credit rating agency, if the budget deficit is larger than expected in 2025, this could result in a further […]
Nigeria’s 2025 budget to deliver paltry N250K per citizen
Post AMUGEDecember 23, 2024
Tinubu faces criticism over 15% inflation target, others Onome Amuge In layman’s term, the ‘Budget of Restoration’ proposed by President Bola Tinubu last week, if shared among 200million Nigerians ( estimated) will amount to N250,000/head per annum. In dollar terms, it will amount to about 160. This amount will not pay four months minimum wage […]
Tinubu’s 2025 Restoration budget forecasts Naira appreciation from N1700 to N1500 per dollar
Post AMUGEDecember 18, 2024
Onome Amuge President Bola Tinubu has presented an optimistic outlook for Nigeria’s foreign exchange market, projecting a strengthening of the naira against the dollar. The president, in the budget proposal for 2025, unveiled earlier today,anticipated the exchange rate to appreciate from the current level of around N1700 to N1500 per dollar by 2025. President Tinubu, […]
CBN sets N100,000 daily limit on POS withdrawals per customer
Post AMUGEDecember 18, 2024
Onome Amuge The Central Bank of Nigeria (CBN) has set a new limit of N100,000 per customer for daily withdrawals made through Point-of-Sale (POS) terminals. This limit was communicated to all Deposit Money Banks (DMBs), Microfinance Banks, Mobile Money Operators, and Super-Agents in a recent circular titled “Cash-out Limits for Agent Banking Transactions,” according to […]
FEC okays N47.96trn 2025 budget, moves to NASS on Wednesday
Post AMUGEDecember 16, 2024
Onome Amuge The Federal Executive Council (FEC) has announced the approval of a N47.96 trillion budget for the 2025 fiscal year, which is set to be presented to the National Assembly on Wednesday. The FEC also approved a target of 2.06 million barrels per day for domestic oil production, based on the significant improvements in […]
Nigeria inflation rises to 34.6% in November
Post AMUGEDecember 16, 2024
Onome Amuge Nigeria’s headline inflation accelerated to 34.60 percent in November 2024, representing 0.72 percentage points increase over the 33.88 percent inflation recorded in October, according to the National Bureau of Statistics (NBS). The NBS also reported a year-on-year increase in Nigeria’s headline inflation rate, with the November 2024 rate at 34.60 percent 6.40 percentage […]
Political, economic issues top Nigerians’ Google news search in 2024
Post AMUGEDecember 10, 2024
Onome Amuge L-R: Diipo Ayo-Adeusi, creative director, King & Consort; Grace Abanyam, founder, Rebel by Gracie; Olumide Balogun, director, West Africa, Google; Tola Okodugha, creative director, Studs n stones; Taiwo Kola-Ogunlade, communications and public affairs manager, Google West Africa at the Google Year In Search event on Tuesday 10th December 2024 Google has unveiled the […]
Tinubu’s governance faces efficiency test over tax reform goals
Post AMUGEDecember 9, 2024
CITN, NECA endorse bill, say it is beneficial to all Onome Amuge President Bola Tinubu rode to power on the wings of ambitious economic reforms that promised to lift the fortunes of Nigerians, yet his tenure has been marred by skyrocketing fuel prices, a weakening naira, and rising inflation, all serving as persistent reminders of […]
Economic hardships persist as questions cloud Nigeria’s GDP growth report
Post AMUGEDecember 2, 2024
Accuracy of data in doubt- NACCIMA Economic growth not inclusive- Uwaleke Onome Amuge The latest gross domestic product (GDP) report from the National Bureau of Statistics (NBS), declaring a 3.46 per cent growth rate for Nigeria’s economy in the third quarter of 2024, has set the stage for a fiery debate, with critics finding such […]