Ekohotblog reports that the Iyaloja of Oluwo Market, Alhaja Giwa, has called on the people of Epe and beyond to be mindful of their spending as the festive period approaches, urging everyone to “cut their coat according to their size.” EDITOR’S PICKS Sanwo-Olu Donates N75M to Support Legionnaires and Families of Fallen Heroes Current Cement … Read more
As opposition grows against the proposed Tax Reform Bills in the National Assembly, influential Northern groups have expressed concerns over the potential economic implications for the region. These groups, while acknowledging the importance of tax reforms, have insisted on specific conditions to ensure the measures do not exacerbate the North’s existing economic challenges. The opposition … Read more
Despite recent directives from the Central Bank of Nigeria (CBN) to curb artificial cash scarcity, findings indicate that the situation remains dire in parts of the country. A November 29 circular, signed by Acting Directors Solaja Olayemi and Isa-Olatinwo Aisha, directed Deposit Money Banks to ensure efficient cash disbursement via ATMs and over-the-counter channels, warning … Read more
Taiwo Oyedele, Chairman of the Presidential Committee on Tax Policy and Fiscal Reforms, has firmly rejected any plans to engage Alpha-Beta Consulting or other external consultants for tax collection. EKO HOT BLOG reports that speaking at a town hall meeting hosted by Channels Television on Monday, Oyedele addressed concerns regarding the use of external consultants … Read more
The Kaduna State Government has commenced the implementation of the new national minimum wage, with the lowest-paid worker receiving a gross salary of ₦72,000 in November. Malam Ibraheem Musa, Chief Press Secretary to Governor Uba Sani, confirmed this in a statement on Sunday, countering claims by the Nigerian Labour Congress (NLC) that the state had … Read more
The National Association of Nigerian Students (NANS) has called on President Bola Ahmed Tinubu to seek assistance beyond his administration to address the worsening economic situation in Nigeria. Speaking in Abeokuta, Ogun State, over the weekend, Abdul-Yekinn Odunayo, Clerk of the Senate at NANS Headquarters, highlighted the urgent need for solutions to Nigeria’s economic hardship, … Read more
The Nigeria Labour Congress (NLC) strike scheduled for December 1 is in danger of collapsing as multiple state chapters have declared they will not participate. The strike was meant to protest delays in adopting the N70,000 minimum wage approved by President Bola Tinubu in July. Several states, including Lagos and Rivers, have already surpassed the … Read more
Afrobeats superstar David Adeleke, popularly known as Davido, has asserted that some of the brightest minds in the United States, including top doctors, are Nigerians. Speaking on Afric TV, Davido highlighted the intellectual and creative contributions of Africans on the global stage. He noted that Nigerians excel not only in the medical field but also … Read more
The Nigerian comedy industry is undergoing a seismic shift as traditional stand-up comedy, once a staple of entertainment, faces a decline in relevance due to the rise of skit-makers on digital platforms. Events like AY Live, Night of a Thousand Laughs, and Basketmouth Uncensored, which dominated the comedy scene for decades, are struggling to maintain … Read more
A report by the Auditor-General of the Federation has revealed irregular payments totaling over N197.72 billion across various ministries, departments, and agencies (MDAs), raising significant concerns about systemic lapses in financial compliance and procurement processes. The findings, detailed in the Auditor-General’s Annual Report on Non-Compliance and Internal Control Weaknesses, cover activities from 2020 to 2021 … Read more
Nigeria’s debt to the World Bank’s International Development Association (IDA) rose to $17.1 billion as of September 30, 2024. According to the World Bank’s financial statements for the fiscal year ending September 2024, this marks a $600 million increase from the $16.5 billion recorded in June 2024. With this figure, Nigeria remains the third-largest debtor … Read more
The Spiritual Director of Adoration Ministry, Enugu State, Rev. Fr. Ejike Mbaka, has called on Nigerians to pray against the looming threat of famine in the country. He decried the escalating cost of fuel, warning that Nigeria is already grappling with hunger, and if left unaddressed, the situation could spiral into a full-blown famine crisis. … Read more
Retired Permanent Secretaries in Abia State have urged Governor Alex Otti to release their outstanding severance packages and entitlements, including gratuities. EKO HOT BLOG reports that the former officials, who retired in 2023, made this appeal at a press conference held in Umuahia, the state capital, on Friday. The retirees shared the financial difficulties they … Read more
The Nigerian National Petroleum Company Limited (NNPCL) has, for the second time this month, increased the pump price of Premium Motor Spirit, otherwise known as petrol. The latest price hike is coming despite the ongoing economic challenges facing the nation. Reports indicate that residents of Lagos will now pay N1,025 per litre, while those in … Read more
The Central Bank of Nigeria (CBN) released $547.7 million (N823.19 billion at the official exchange rate of N1,503.3/$1) to Nigerians for food importation in the second quarter of 2024. This amount marks a 20.6% decrease from the $689.88 million recorded in the first quarter, with a corresponding reduction of N80.76 billion when converted to naira. … Read more
The Federal Government’s efforts to reduce food prices through a zero percent duty and exemption from value-added tax on basic food items are facing serious setbacks, as the average price of imported food items surged to a staggering 878.3 price point index in September 2024. This spike reflects the mounting economic challenges hampering attempts to … Read more
MTN Nigeria and other multinational business leaders are pleading with the Federal Government to permit them to raise their tariff plan prices to sustain their operations and investments. Over the past decade, they have faced significant challenges due to the government’s refusal to allow price increases, which they argue is essential for maintaining a viable … Read more
The Comptroller-General of the Nigeria Customs Service (NCS), Adewale Adeniyi, has announced that seized petrol in Adamawa State will be auctioned at ₦630 per litre. This decision was disclosed during a press conference on Wednesday, October 9, 2024, in Yola, the capital of Adamawa State. Represented by the Deputy Comptroller-General of Customs, Aliyu Alajogun, Adeniyi … Read more
Senator Oluremi Tinubu has stood by her husband, President Bola Tinubu, amid growing economic challenges in Nigeria, insisting that he should not be blamed for the current situation. Her comments come as Nigerians struggle with rising prices, particularly after the removal of the fuel subsidy, which saw petrol prices skyrocket from ₦198 to ₦1,030 per … Read more
Former Minister of Transportation Rotimi Amaechi has voiced his frustration over Nigerians’ complacency amidst worsening economic challenges. In an interview with Igbere TV, Amaechi criticised the lack of proactive responses, particularly from the youth, in the face of rising living costs. Amaechi, who previously served as the governor of Rivers State, expressed surprise at the … Read more