The federal government’s plan to introduce a 5 percent surcharge on refined petroleum products — including petrol and diesel — has been met with swift and loud opposition from industry stakeholders, civil society groups, and political figures. The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has warned that the tax could push many … Read more
Local rice mills idle Prices hit ₦100k again Crisis may spark unrest Rice prices are now setting off serious alarm bells across the nation. A rising tide of concern has been stirring among both consumers and industry insiders alike. Eko Hot Blog has already spotlighted the intensifying challenge faced by ordinary Nigerians at market stalls, … Read more
Speaker Tajuden Abass Speaks on Oil reliance He calls for diversity in Nigeria’s Economy He urges Nigerian Youths to seek opportunities in Entrepreneurship The Speaker of the House of Representatives, Mr. Tajudeen Abbas, has emphasized that Nigeria’s over-reliance on oil will lead to greater inequality, widespread poverty, and mass unemployment. Speaking at the 14th convocation … Read more
Naira slightly gained N3 against the dollar As Nigerians gear up for the 2024 Christmas celebrations Strengthened marginally against the dollar The Naira further strengthened marginally against the dollar at the parallel foreign exchange market on Tuesday, Christmas Eve. A Bureau de Change operator in Wuse Zone 4, Abubakar Alhasan, on Tuesday said that the … Read more
Harvest Season responsible for the drop in price of local rice Yuletide Season and Abakakiki rice Local rice production The price of de-stoned local rice, commonly known as ‘Abakaliki rice,’ has experienced a slight reduction of six to ten percent in major markets in Enugu, bringing relief to residents and driving increased patronage for the … Read more
The Central Bank of Nigeria, CBN, has assured banks of a steady cash supply to address shortages nationwide. CBN governor, Olayemi Cardoso, gave this assurance on Tuesday at a press briefing after the 298th monetary policy committee, MPC, meeting in Abuja. EDITOR’S PICKS Japa: Russia Opens Doors to Migrants Amid Workforce Shortage Crisis Erupts at … Read more
Bitcoin is nearing the $80,000 mark for the first time, fueled by President-elect Donald Trump’s positive stance on digital assets and a pro-crypto Congress. The cryptocurrency surged by 4.3% to an unprecedented $79,771 on Sunday, holding close to $79,000 by 2:05 p.m. in Singapore. Smaller cryptocurrencies like Cardano and Dogecoin also saw gains. On the … Read more
Uber announced on Friday a 13% increase in fares to help drivers cope with the recent fuel price hike in Nigeria. This adjustment is intended to mitigate the impact of the fuel price increase on drivers’ earnings. However, some drivers have expressed concerns that the fare increase is insufficient compared to the over 40% rise … Read more
Ekohotblog reports that the Lagos State Government is set to roll out the second phase of the Ounje Eko Discount Market. This initiative, which has been highly anticipated, will kick off on September 1, 2024, across all Local Government Areas and Local Council Development areas (LCDAs) in the state. EDITOR’S PICKS #Endbadgovernance: Organizers Plan Another … Read more
Guaranty Trust Bank Plc has confirmed an attempt to compromise its website domain. The management of the bank made this known in a statement made available to newsmen on Thursday in Lagos. The bank said that the hacking attempt occurred on Wednesday, a day after the bank renewed its domain name, causing a temporary disruption … Read more
Ekohotblog reports that in a recent interview with the Financial Times, former President Olusegun Obasanjo alleged that sinister forces are undermining the success of the $20 billion Dangote Refinery. Obasanjo suggested that influential figures within Nigeria’s oil and gas sector are actively working to thwart the refinery’s progress due to its threat to their lucrative … Read more
Breaking; Court Restricts Protesters to Abuja Stadium A High Court of the Federal Capital Territory has restricted participants in the August 1, hunger protest against the federal government to the MKO Abiola stadium, also known as National Stadium. Justice Sylvanus Oriji issued the order on Wednesday in Abuja while delivering ruling in an ex-parte application … Read more
APC claims a Federal Government agency is feeding Nigerians with false inflation figures. Eko Hot Blog reports that the All Progressives Congress (APC) has baselessly claimed that the National Bureau of Statistics (NBS) is releasing false inflation figures to Nigerians. EDITOR’S PICKS Tunji Alausa, NAFDAC DG, NBMA DG Promise Action On Genetically Modified Foods Why … Read more
Mojoda Epe market women are fielding blames from shoppers for the rise in food prices. Eko Hot Blog reports that Mojoda Epe Market was rife with frustration yesterday as shoppers grappled with the escalating prices of essential goods. EDITOR’S PICKS NiMet Forecasts Weekly Thunderstorms: Check Affected Areas FG Initiates Verification of Private Jet Imports, Summons … Read more
The National Bureau of Statistics, NBS, reported a 3.46% rise in electricity consumers in Q4 2023. Revenue collection by electricity distribution companies surged by 26.96% year-over-year to N294.95 billion in Q4 2023. Electricity supply increased by 14.64% compared to Q4 2022, reaching 6,432 GWh. Eko Hot Blog reports that The National Bureau of Statistics (NBS) … Read more
The National Bureau of Statistics (NBS) reported a 0.86% increase in the average retail price of kerosene from January to February 202. Kaduna had the highest average price per litre of kerosene in February, while Bayelsa had the lowest. Analysis by zone showed that the North-East recorded the highest average price per gallon of kerosene … Read more
Eko Hot Blog reports that Laolu Akande, a former aide to ex-Vice President Yemi Osinbajo, emphasized the need to hold accountable those responsible for printing money during the tenure of former President Muhammadu Buhari. Editor’s Pick Tinubu Govt Set To Announce New Minimum Wage ‘Fake News’ — FAAN Denies Fire Incident At Lagos Airport Lawmaker … Read more
Eko Hot Blog reports that Plateau State Governor Caleb Mutfwang expressed concern on Monday about the economic challenges confronting Nigerians, attributing the situation to the previous administration led by former President Muhammadu Buhari. Editor’s Pick Reps Urge Arrest Of Binance Executives For Alleged Financial Crimes Mr Ibu’s Body Departs Lagos For Hometown Burial (Video) Why … Read more
Eko hot blog reports that In a candid address to members of the Nigeria Labour Congress during a protest against the high cost of living, Bayelsa State Governor, Mr. Douye Diri, voiced concern over the economic challenges gripping the nation. He lamented the inflationary pressures caused by federal policies, which have led to hardships affecting … Read more
Eko Hot Blog reports that Nigeria Labour Congress union members in Lagos assembled at Ikeja underbridge, singing, dancing, and urging the government to attentively consider their demands. Editor’s Pick FG Told To Hike Tax On Sugary Drinks From N10 To N130 Per Litre 27 Miscreants Sentenced For Obstructing Lagos Pedestrian Bridges Salaries Of Senators, Reps … Read more