Eko Hot Blog reports that Yemi Kale, former Statistician-General of the Federation, has faulted the new methodology used in computing Nigeria’s unemployment data. Kale spoke on Arise Television’s Global Business Report on Monday. Recall that the National Bureau of Statistics (NBS), on August 24, released a new report that pegged the unemployment rate at 4.1 … Read more
Eko Hot Blog reports that the Federal Government has reiterated its commitment to ending petroleum product importation soon, as efforts are being redoubled to restore the nation’s local refining capacity. This was made known by the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, during an inspection tour of the rehabilitation work progress … Read more
Eko Hot Blog reports that Nigeria’s unemployment dropped to 4.1% in the first quarter of 2023. This data was contained in the Nigeria Labour Force Survey Q4 2022 & Q1 2023 released by the National Bureau of Statistics on Thursday. The data also revealed that Nigeria’s unemployment rate was 5.3% in Q4 2022. In contrast, … Read more
Eko Hot Blog reports that Vice President Kashim Shettima has said President Bola Tinubu is “very passionate” about empowering Micro, Small and Medium Enterprises (MSMEs) for the development of the nation’s economy. According to a statement issued by the vice president’s spokesperson, Olusola Abiola, he spoke on Tuesday with journalists during his tour of exhibition stands … Read more
Eko Hot Blog reports that the Bureau De Change (BDC) on Saturday kicked as the Central Bank of Nigeria (CBN) announced the operational mechanism for its segment of the market to trade foreign currencies in the country. The Apex Bank had directed all BDCs operators in the country and the general public to trade foreign … Read more
Eko Hot Blog reports that the Department of State Security Service has arrested Abbas Umar Masanawa, the chief executive officer of Nigeria Incentive-Based Risk Sharing System for Agricultural Lending, NIRSAL, for his alleged role in the ongoing corruption probe of ousted CBN chief Godwin Emefiele. Informed DSS insiders said Mr Masanawa was taken into custody … Read more
Eko Hot Blog reports that the Nigerian National Petroleum Corporation Limited (NNPCL) on Monday evening reacted to the speculations that petrol prices might be increased. The Independent Petroleum Marketers Association of Nigeria (IPMAN) on Friday indicated that the pump price of Premium Motor Spirit (PMS) may rise to about N750 per litre. Editors Pick BREAKING: … Read more
Eko Hot Blog reports that the Central Bank of Nigeria, CBN is planning new measures to check the deteriorating value of naira in the foreign exchange market. These measures are coming following the meeting between president Bola Tinubu and the acting CBN governor, Folashodun Shonubi at the state house. The acting governor of the Apex … Read more
Eko Hot Blog reports that the Central Bank of Nigeria (CBN) has threatened to sanction banks caught engaging in illegal forex sales. The acting Chairman of the apex bank, Folashodun Shonubi disclosed that plans are underway to form a commission to handle such issues. Editors Pick JUST IN: Tobi Amusan Not Cleared Of Doping – … Read more
Eko Hot Blog reports that the Central Bank of Nigeria (CBN) spent N3.2 trillion on dubious “other operating expenses” during former President Muhammadu Buhari’s eight-year regime, a financial statement released by the apex bank showed. The financial statement published this week and the first of its kind since 2015, said CBN filed over N3.2 trillion … Read more
Eko Hot Blog reports that the Central Bank of Nigeria(CBN) has released the Consolidated Financial Statements for the last seven years. The financial statement, published on its website, includes the financial periods of 2016, 2017, 2018, 2019, 2020, 2021, and 2022. Editors Pick JUST IN: ASUU Sacks Chairman Over Financial Misappropriation Two Fake Police Officers … Read more
The programme targets 1 million youths, 500,000 MSMEs with grants, digital training. The government said the partnership is in line with President Tinubu’s commitment to providing digital jobs. It also revealed the states that will kick off the initiative. Eko Hot Blog reports that the Federal Government through the Office of the Vice President is … Read more
Eko Hot Blog reports that President Bola Tinubu has revealed the motive behind a comprehensive forensic audit of the Central Bank of Nigeria (CBN). Tinubu spoke on Friday at the presidential villa during a meeting with Ajay Banga, the World Bank president. EDITOR’S PICKS Meet Tunji Alausa, The Epe-born Nephrologist On Tinubu’s Second Ministerial List … Read more
Eko Hot Blog reports that President Bola Tinubu on Friday performed the groundbreaking ceremony for the 1350 Megawatts (MWh) Gwagwalada Independent Power Plant (IPP) belonging to NNPC Limited in Abuja. Speaking at the ceremony, the president assured that the federal government will remove all distribution bottlenecks. EDITOR’S PICKS Meet Tunji Alausa, The Epe-born Nephrologist On … Read more
Eko Hot Blog reports that the Lagos State Governor, Mr. Babajide Olusola Sanwo-Olu, has said his administration will continue to collaborate with organisations and individuals that promote initiatives aimed at empowering youths to be more productive and self-employed. The governor gave the assurance on Thursday at the maiden edition of the Chartered Institute of Bankers … Read more
Eko Hot Blog reports that the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has unveiled four new regulations that would amongst other things guide the operations of the midstream and downstream environmental remediation fund. NMDPRA announced the development in a statement signed by its General Manager, Corporate Communications and Stakeholders, Mr. Kimchi Apollo, on … Read more
Eko Hot Blog reports that Geregu Power Plc’s Chairman, Mr. Femi Otedola, has unveiled an ambitious plan to collaborate with the Lagos state government in developing a pioneering power transmission project. Otedola, a prominent billionaire investor with diverse business interests, announced the development following a meeting with Lagos State Governor, Babajide Sanwo-Olu and the President … Read more
EkoHotBlog reports that about 25 states in Nigeria suffered a shortage fall in internally generated revenue and struggle with cash crunch in the first quarter of 2023. Data obtained from the budget implementation by The Punch report of each state showed that 25 states earned N182.26bn in Q1 2023. This was a shortfall of 3.07 … Read more
Eko Hot Blog reports that President Bola Ahmed Tinubu Thursday in Lagos said he could have chosen to maintain the hitherto multiple foreign exchange systems and benefit from it, but instead opted to unify the official and parallel market rates to save the country from financial hemorrhage. Speaking at a reception organised in his honour … Read more
Eko Hot Blog reports that the Five Billion Series 1 of the 30 Billion Eko Rice Contracts Programme has launched on the Lagos Commodities and Futures Exchange (LCFE). The commodity was launched on the exchange at the UAC Building, Marina, on Wednesday, in the presence of Lagos State Governor, Babajide Sanwo-Olu, Deputy Governor Obafemi Hamzat, … Read more