Nigeria’s Gross Domestic Product (GDP) grew by 3.46% in real terms (constant price) in the third quarter (Q3) of 2024, according to the Statistician General of the Federation, Adeyemi Adeniran. This marks a 0.92 percentage point increase compared to the 2.54% growth recorded in Q3 2023. In a statement released on Monday, Adeniran also noted … Read more
The Federal Government has reaffirmed President Bola Tinubu’s dedication to addressing the security challenges in the South-East region. EDITOR’S PICKS Trump Taps Fox News Host Pete Hegseth As Defence Secretary Sanwo-Olu Appoints Barr. Rekiya Olufunke Hassan as new Chairman of Onigbongbo LCDA Meter Replacement Violations Will Face Penalties – FCCPC To Ikeja, Eko DisCos EKO … Read more
Russia is grappling with a severe demographic decline that threatens its economic and developmental ambitions. To counter the shrinking workforce, Kremlin spokesperson Dmitry Peskov emphasized the need for migrants in a recent interview with state news agency RIA Novosti. “We have a tense demographic situation. We live in the largest country in the world, but … Read more
The Presidency has remained silent following critical remarks from former President Olusegun Obasanjo and the International Monetary Fund (IMF) concerning President Bola Tinubu’s economic reforms. Speaking at the Chinua Achebe Leadership Forum at Yale University, Obasanjo described Nigeria as being under “state capture,” accusing the government of corruption and poor leadership. EDITOR’S PICKS Trump Taps … Read more
Former President Muhammadu Buhari has congratulated Governor Lucky Aiyedatiwa on his re-election as the governor of Ondo State following a landslide victory in the state’s gubernatorial election. EDITOR’S PICKS Trump Taps Fox News Host Pete Hegseth As Defence Secretary Sanwo-Olu Appoints Barr. Rekiya Olufunke Hassan as new Chairman of Onigbongbo LCDA Meter Replacement Violations Will … Read more
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has finalized a partnership with Dangote Refinery for the direct supply of fuel products, aiming to secure a stable and affordable distribution of Premium Motor Spirit (PMS) nationwide. IPMAN’s National President, Abubakar Garima, confirmed this development on Monday during a press briefing in Abuja following a meeting … Read more
Governor Siminalayi Fubara of Rivers State has attributed recent political challenges in the state to divine intervention, stating that the turbulence is part of God’s plan to secure political freedom and drive economic progress for the region. Fubara shared these thoughts during a thanksgiving service in celebration of His Royal Majesty, Eze Chike Worlu Wodo, … Read more
The Federal Government has announced plans to begin disbursing loans at single-digit interest rates to Small and Medium Enterprises (SMEs) by the third quarter of 2025. This initiative aims to provide affordable financing to small businesses that often struggle with high interest rates and collateral requirements. EDITOR’S PICKS NASU, SSANU Strike Nears End As FG … Read more
The Federal Government, through the National Bureau of Statistics (NBS), announced that road tax collections across Nigeria surged to N40.14 billion in 2023, marking a 63.36% increase from the N24.57 billion collected in 2022. This sharp rise in revenue highlights the growing contribution of road taxes to state-level funding. EDITOR’S PICKS NASU, SSANU Strike Nears … Read more
The Federal Government has initiated the disbursement of a N75 billion loan aimed at supporting the manufacturing sector, following a 14-month delay since the initiative’s announcement. The funds, provided through the Bank of Industry (BOI) at an annual interest rate of 9%, are designed to assist larger companies in managing production costs and adapting to … Read more
The administration of President Bola Tinubu has officially endorsed the upcoming Ogbomoso Cradle Carnival 2024, scheduled for December in Oyo State, according to a statement by the Federal Ministry of Tourism, Arts, Culture, and the Creative Economy. The ministry’s confirmation, conveyed through a letter dated October 9, praised Oba Ghandi Olaoye, the Soun of Ogbomosoland, … Read more
Kogi State Governor, Alhaji Ahmed Usman Ododo, has announced a new minimum wage of ₦72,500 for civil servants in the state, effective immediately. This decision follows the establishment of committees by 17 state governors, including Kogi, to implement the new minimum wage. EDITOR’S PICKS Health, Planning Ministries Partner with AfDB on Sustainable System Project Shamim … Read more
In a landmark move, Nigeria has officially commenced the sale of crude oil and refined petroleum products in Naira. EKO HOT BLOG reports that the announcement was made by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, who confirmed that the policy took effect on October 1, 2024, following a directive … Read more
The U.S. Federal Reserve’s recent interest rate cut is expected to influence the upcoming decisions of Nigeria’s Monetary Policy Committee (MPC), which meets next week to discuss potential rate changes. With the Fed reducing borrowing costs, Nigeria’s central bank may feel compelled to consider a similar move, as it balances inflation management with the need … Read more
Vice President Kashim Shettima inaugurated a $115 million upgrade project at the West Africa Container Terminal (WACT) in Onne, Eleme Local Government Area, Rivers State, on Wednesday. The investment stresses APM Terminals’ commitment to Nigeria’s economic growth and strengthens its position as a key trade hub in West Africa. The ceremony saw the presence of … Read more
The Federal Government has inaugurated a new Board of Directors for the Nigeria Sovereign Investment Authority (NSIA), entrusting them with the responsibility of guiding the nation’s economic growth and stability. During the inauguration at his office in Abuja, Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, urged the Board to utilize … Read more
Governor Babajide Sanwo-Olu has emphasized the importance of integrative medicine in the state’s healthcare system. Speaking at the Association of Integrative Medicine Practitioners of Nigeria’s annual conference, Sanwo-Olu highlighted the significance of this approach in enhancing the nation’s well-being and driving economic development. Represented by Prince Babatunde Adele, Registrar of the Lagos State Traditional Medicine … Read more
President Tinubu and UK Prime Minister Starmer reaffirmed their commitment to enhancing trade and security relations between Nigeria and the UK during a congratulatory phone call. EKO HOT BLOG reports that President Bola Ahmed Tinubu and UK Prime Minister Keir Starmer have reaffirmed their commitment to enhancing bilateral relations between their countries as Commonwealth partners. During … Read more
President Bola Tinubu announces a ₦2 trillion investment in critical sectors like Health, Agriculture, Energy/Power, and others to accelerate economic stabilization and advancement. EKO HOT BLOG reports that President Bola Tinubu has announced a bold plan to inject ₦2 trillion into key sectors of the economy over the next six months. This significant investment aims to … Read more
President Bola Ahmed Tinubu has given state governors a seven-day deadline to report back on their plans to boost food production and security in their respective states. Speaking at the National Economic Council (NEC) meeting, Tinubu emphasized the urgency of increasing food production and pledged his support to states in achieving this goal. “Our states … Read more