Category: Business and Economy
NBS Releases December 2024 Consumer Price Index Report, Emphasizing NLSS Changes
The National Bureau of Statistics (NBS) on Wednesday released its December 2024 Consumer Price Index (CPI) report, shedding light on the price changes affecting goods and services across Nigeria. This critical economic tool monitors inflation and provides insights into economic trends nationwide. According to the NBS, “The CPI process combines economic theory, sampling, and statistical…
JAMB Clears the air on 2025 Budget Proposal Comment
The Registrar of the Joint Admissions and Matriculation Board (JAMB), Professor Ishaq Oloyede, has responded to concerns over alleged misrepresentation of figures in the Board’s 2025 budget proposal. Speaking at an event in Abuja on Tuesday, Oloyede clarified that reports claiming JAMB spent large sums on items such as fumigation and meals in 2024 were…
Customs Targets ₦6.58tr Revenue in 2025, Says University for Trade Underway
The Comptroller-General of the Nigeria Customs Service (NCS), Bashir Adewale Adeniyi has announced an ambitious revenue target of ₦6.58 trillion for 2025, following a record collection of ₦6.1 trillion in 2024. Mr. Adeniyi disclosed this on Tuesday in Abuja while updating the public on the activities and achievements of the Nigeria Customs Service for the…
Food Crisis: Nigeria Receives 32-Ton Shipment of Rice from Thailand Decade After
Korede Abdullah in Lagos Nigeria has received a 32-ton shipment of rice from Thailand, offering temporary relief as the nation grapples with a worsening food crisis. This shipment, the first of its kind in a decade, arrived in Lagos on Saturday, facilitated by DUCAT, a logistics company. According to DUCAT, the rice export was made…
First National Grid Collapse in 2025 Provokes Concerns over Blackout
Nigeria’s national power grid faced its first significant failure of 2025, leaving the entire country in darkness merely ten days into the new year. This latest incident adds to a worrying trend, being the 13th grid failure in 13 months. Power generation reportedly plummeted from 2,111.01 megawatts at 2 pm to a mere 390.20 MW…
$52.88m Recovered Assets: CISLAC Demands Transparency, Accountability, Commends Efforts
Korede Abdullah in Lagos The Civil Society Legislative Advocacy Centre (CISLAC) has praised the repatriation of $52.88 million in recovered assets linked to former Minister of Petroleum Resources, Diezani Alison-Madueke, by the United States government. CISLAC’s Executive Director, Auwal Musa Rafsanjani in a statement on Saturday, commended the collaboration between the Nigerian and US governments,…
EXCLUSIVE! Quantum Gets Global Focus as US, UK, China Deploy System to Complex Problems Solving
Indication emerged Saturday that the United Nations, UN is considering global recognition for quantum mechanics as countries push for declaration of International Year of Quantum Science and Technology in 2025. There are a lot of conversations around the global recognition of quantum mechanics, said a report. The hope is that complex problems will be solved…
CBN Launches New Accounts for Nigerians in Diaspora
Korede Abdullah in Lagos The Central Bank of Nigeria (CBN) has introduced two new account types designed specifically for Nigerians living abroad: the Non-Resident Nigerian Ordinary Account (NRNOA) and the Non-Resident Nigerian Investment Account (NRNIA). These accounts aim to enhance diaspora participation in the Nigerian economy while providing secure and flexible financial management options. According…
2024: Deaths of Prominent Figures that Leave World Shocked
Juliet Jacob chronicles the sad end of some influential personalities who affected the world through their works in 2024. This report pays tribute to these remarkable individuals, highlighting their contributions and the profound impact they had on the world. The year 2024 was a somber one for the world, as it witnessed the passing of…