economy
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A popular economist and former President of the Council of Chartered Institute of Bankers, Prof Segun Ajibola, has warned President Bola Ahmed Tinubu’s administration to be careful about economic prescriptions from the International Monetary Fund and the World Bank. Ajibola disclosed this to DAILY POST on Monday. His reaction comes amid the IMF’s recent advice…
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Millions of Nigerians will now struggle to afford three square meals and other necessities as the country’s headline inflation jumped to 26.72 per cent in September from 25.80 per cent in August 2023. The National Bureau of Statistics September Consumer Price Index, which measures the rate of change in the price of goods and services,…
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Good evening from MEZIESBLOG! Here is today’s summary from Nigerian Newspapers: 1. A pastor with the Christ Liberty Evangelism Church, Rosco, Iyana Iyesi, Ota, Oyenekan Oluwaseyi, and three others have been arrested with a human skull in the Saje Area of Abeokuta, the Ogun State Capital. Oluwaseyi and the three others, Ibrahim Agbowewe, Suleiman Ogunbunmi, and…
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The Federal Ministry of Art, Culture and the Creative Economy (FMACCE) in Nigeria has unveiled a strategic roadmap to grow the country’s creative economy to $100 billion in GDP contribution by 2030. The plan which was shared via its social media pages on Monday focuses on key sectors like music, film, software, museums, fashion, festivals,…
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The latest inflation data released by the National Bureau of Statistics raise fears of more hunger and poverty. in Nigeria. In its Consumer Price Index for August 2023, the NBS said that the headline inflation rate increased to 25.8 per cent compared to the preceding month’s 24.08 per cent. This portends more hardship for Nigerians. Therefore, the government…
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The Ooni of Ife, Oba Adeyeye Ogunwusi, Ojaja II, has called on Nigerians to pray for President Bola Tinubu’s government as people battle hardships in the country. The Yoruba monarch emphasised Nigeria’s need for spiritual intervention amid current hardships. “I will pray for the unity of Africa. Things are very hard. We all know the economic…
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The president of the Federal Reserve Bank of Boston said Friday she expects interest rates staying higher for longer, and further monetary tightening is “certainly not off the table.” “While recent inflation readings have been encouraging, inflation remains too high,” Susan Collins said in her remarks at the Annual Convention of the Maine Bankers Association.…
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Despite abundant global wealth, some countries continue to suffer extreme poverty. Going by GDP per capita country-wise, this article lists the poorest countries in the world in 2023. Before getting into the list of the poorest countries in the world, let’s first understand the concept of GDP per capita and how a country is ranked…
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Nigeria’s soaring inflation rate, which jumped to 25.80 per cent in August, has created severe economic shock. According to the National Bureau of Statistics, the latest inflation figure is the highest since August 2005. In May, inflation stood at 22.41 per cent, June inflation stood at 22.79 per cent, July was 24.08 per cent, and…
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Ukraine is planning to sue Poland, Hungary and Slovakia over their bans on its agricultural products, according to a report by Politico. Kyiv could impose reciprocal measures on Poland if Warsaw did not drop the measures, Ukrainian Trade Representative Taras Kachka told the news outlet. “We would be forced to retaliate on the additional products,…
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With the new academic session beckoning, the signs of back-to-school are everywhere, particularly as parents hit the market for last-minute purchases. Meanwhile, amid the usual back-to-school frenzy, worry clouds the air in Akure, the Ondo State capital, following the recent economic hardship, worsened by the removal of fuel subsidy and the inflation sweeping across sectors.…
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Good afternoon from Meziesblog Here is a summary of today’s news from Nigerian Newspapers: 1. The leadership of the Nigeria Labour Congress has concluded plans to embark on a two-day warning strike, with effect from September 5 to 6, 2023. NLC President, Joe Ajaero, who handed down the threat, in Abuja on Friday, warned that…
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Leader of the Niger Delta Peoples Volunteer Force, Mujahid Dokubo-Asari, on Tuesday, commended President Bola Tinubu for reinstating the Ministry of Niger Delta Affairs, describing it as a good step in the right direction. According to him, among all attempts to address the agitation of the Niger Delta, the Ministry of Niger Delta Affairs is…
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The naira, on Wednesday, depreciated by 0.35 percent to close at N773.4/$ at the investors and exporters (I&E) window. Data from FMDQ Securities Exchange, a platform that oversees foreign exchange (FX) trading in Nigeria, showed that the local currency opened with an exchange rate of N781.49 to the dollar and sold for an intra-day high of…
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The fresh subsidy palliative loans may drive 36 states’ borrowing from the Federal Government to N1.34tn, according to findings by the PUNCH newspaper. The debt under the budget support facility of the Federal Government included a N614bn debt as of 2019, another debt of N656bn in 2021, and a fresh N69.12bn debt as subsidy palliative…
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Tapping Emergency Reserves This is, almost without exception, a big, fat, NO. Raiding your emergency fund simply to maintain the posh lifestyle to which you have become accustomed is an abysmal strategy. Keeping Showtime Anytime may be important, but it’s not likely to meet the definition of a crisis. Remember Steklov’s warning: Nobody picks the day their car engine…
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