FAAC shares N903.48bn to federal govt, subnationals as allocation drops to N196.52bn in September
Business a.m.
October 25, 2023
The Federation Account Allocation Committee (FAAC), has shared a total of N903.480 billion to the federal government,36 states, and 774 local government councils as federation allocation for September 2023. The September revenue of N903.48 billion represents a decrease of N196.52 billion compared to the August disbursement of N1.1 trillion. This is according to the Communique […]
Nnanna, DBN chief economist says Nigeria’s future growth depends on infrastructure investment
Onome AmugeOctober 24, 2023
Onome Amuge Joseph Nnanna,chief economist of the Development Bank of Nigeria (DBN), has stressed the need for increased investment in critical infrastructure in order to spur growth and development in the country. Nnanna’s stated this in response to a report by the Africa Development Bank (AfDB) titled “Infrastructure Action Plan for Nigeria: Closing […]
Experts charge Nigeria to act now as 2030 SDG deadline nears
Cynthia EzekweOctober 17, 2023
By Cynthia Ezekwe. As the 2030 deadline for achieving the SDGs draws closer, experts are urging collective action to ensure that Nigeria meets its targets. With time running out, they stress that everyone must play a part in addressing the key issues that the SDGs seek to resolve. They also highlight the importance of […]
Fixing power, forex, transportation key to curbing soaring inflation, says CPPE
Onome AmugeOctober 17, 2023
By Onome Amuge. The Centre for the Promotion of Private Enterprise (CPPE) has warned that the Nigerian government must address the country’s electricity, foreign exchange, and transportation issues to curb inflation, which has been on the rise for nine months. Muda Yusuf, the director of CPPE, said the rising inflation rate in Nigeria is alarming […]
Gallup chairman,Clifton tells Africa to prioritise entrepreneurial talents to grow economy
Onome AmugeOctober 17, 2023
By Onome Amuge. Jim Clifton chairman of the globally renowned polling and analytics firm, Gallup,has urged Africa to develop a system to identify and nurture entrepreneurial talent, in order to boost economic growth and create jobs for the continent’s large youth population. Gallup made the recommendation,stressing the importance of entrepreneurship as a driver of economic […]
CBN’s forex access to 43 items sees analysts weigh in
Onome AmugeOctober 16, 2023
…denied access to I&E Window for Forex Onome Amuge The decision by the Central Bank of Nigeria to grant forex access to enable importation of 43 items eight years after restriction, has been praised by some finance and economic analysts, as well as international organizations like the International Monetary Fund (IMF), who believe that it […]
Organised labour shelves strike for 30 days after MoU with FG
Business a.m.October 3, 2023
Business A.M Nigeria’s organised labour, consisting the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC), has suspended its planned nationwide strike for thirty days, following a last minute agreement with the federal government at the State House in Abuja last night. Business A.M gathered that the planned indefinite nationwide strike, scheduled to begin today, […]
NLC, TUC declare indefinite strike October 3
Mike OchonmaSeptember 26, 2023
MIKE OCHONMA The Nigeria Labour Congress (NLC) and the Trade Union Congress of Nigeria (TUC) will commence an indefinite strike on Tuesday, October 3. This followed a joint press briefing by both leadership of the union in Abuja, the nation’s capital on Tuesday (today). The unions also asked their state chapters to mobilize for protests […]
LCCI charge businesses on cost reduction strategies to stay afloat amid inflation hike
Onome AmugeSeptember 19, 2023
By Onome Amuge. The Lagos Chamber of Commerce and Industry (LCCI) has emphasised the need for businesses to implement a variety of cost reduction strategies to lower operating expenses and maintain profitability amidst inflationary pressures. Chinyere Almona, director-general, LCCI, in a statement reacting to the 18-year high August inflation rate of 25.80 per cent, noted […]
Nigeria’s inflation rate soars for 8th consecutive month to 25.80% in August
Onome Amuge, Onome Amuge & Innocent ObasiSeptember 15, 2023
By Onome Amuge. Nigeria’s inflation rate rose for the eighth straight month in the year to 25.80 per cent in August 2023,representing an increase of 1.72 percentage points from 24.08 per cent recorded in July 2023. This is according to the latest inflation report by the National Bureau of Statistics (NBS),which measured the rate of […]