‘I Never Condemned FG’s Borrowing’ – Speaker Abbas He said debt can support growth if managed prudently with oversight and transparency. His office stressed Nigeria met 2025 revenue targets without reliance on new loans. The Speaker of the House of Representatives, Tajudeen Abbas, has refuted reports claiming he condemned the Federal Government’s borrowing, insisting that … Read more
Prince Ademola Adegoroye, former Minister of State for Transportation, has expressed optimism about President Bola Tinubu’s 2025 budget proposal, describing it as a strategic plan to tackle Nigeria’s economic and security challenges. Speaking at the Nigeria Bar Association (NBA) Akure branch’s annual dinner, Adegoroye noted that the N49.7 trillion budget proposal marks a significant increase … Read more
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
Trump is set to return to the White House after securing victory in the recent U.S. presidential election. With the Republican Party regaining control of the Senate, Trump’s proposed agenda—focused on immigration reform, economic changes, and ending the Ukraine war—could see swift action. EDITOR’S PICKS NASU, SSANU Strike Nears End As FG Promises Payment Resolution … Read more
The Arewa Consultative Forum (ACF) has expressed deep concern over the prolonged power outage affecting the northern part of Nigeria. The group alleges that the Federal Government’s inaction is contributing to the region’s worsening economic woes. In a statement, ACF criticized the government for its lack of urgency in addressing the issue, which has led … Read more
Governance requires effective time management to thrive. Unfortunately, political systems often waste this precious resource, compromising citizens’ well-being and national prosperity. As a universal currency, time is equally distributed but unequally valued, with marginalized communities frequently bearing the brunt of temporal inefficiencies. At the politics-time intersection, power dynamics emerge, shaping lives through prioritization, policy and … Read more
The All Progressives Congress (APC) has said Nigerians should hold themselves accountable for the removal of the fuel subsidy by President Bola Tinubu. According to APC National Publicity Secretary Felix Morka, the president was simply implementing the provisions of the Petroleum Industry Act (PIA), which was passed by the National Assembly and abolished the subsidy. … Read more
Finance Minister and Coordinating Minister of the Economy, Wale Edun, has dismissed rumours of an imminent increase in the Value-Added Tax (VAT) rate from 7.5% to 10%. In a statement released on Monday, Edun clarified that the VAT rate remains firmly at 7.5%, as stipulated by Nigerian tax laws. EDITOR’S PICKS School Proprietress Allegedly Killed, … Read more
The Nigeria Deposit Insurance Corporation (NDIC) has announced that it has disbursed N5 million each to 82.36% of the depositors of the now-defunct Heritage Bank. However, 17.64% of the insured deposits are still pending, primarily due to issues such as Post-No Debit instructions on accounts or missing Bank Verification Numbers (BVNs). EKO HOT BLOG reports … Read more
The federal government assures financing the new ₦70,000 minimum wage will be feasible, with plans to increase crude oil output to 2 million barrels per day. EKO HOT BLOG reports that the federal government has assured there will be no difficulties in financing the new ₦70,000 minimum wage signed into law by President Bola Tinubu. The … Read more
President Tinubu met with traditional rulers to prevent a planned protest, expressing concern about its impact. EKO HOT BLOG reports that President Bola Tinubu held a meeting with traditional rulers on Thursday to prevent a planned nationwide protest. The meeting at the State House, Abuja, included the Sultan of Sokoto, Muhammad Sa’ad Abubakar III, and the … 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
Vice President Kashim Shettima has dismissed speculation about President Tinubu’s health, describing him as a man “full of ideas” and urging Nigerians to support him. Shettima spoke at a town hall meeting by the Presidential Enabling Business Environment Council (PEBEC) at the State House in Abuja, addressing concerns about Tinubu’s health status following a recent … Read more
Eko hot blog reports that indigenes of Epe have expressed deep concern and frustration over the soaring prices of rams at the Oke Oyinbo Epe market this year. The high cost of rams has created significant financial strain, particularly as the Eid al-Adha festivities approach. EDITOR’S PICK Borno Stands Alone Against State Police, Reps To … Read more
The Federal Government recently started demolishing properties to clear the way for the construction of the Lagos-Calabar coastal highway. President Tinubu has officially kicked off the construction. He says the highway will provide major economic benefits to Nigerians. Eko Hot Blog reports that President Bola Tinubu, on Sunday in Lagos State, flagged off the construction … Read more
The Chief of Defence Staff was in Lagos State on Monday. Governor Sanwo-Olu received the military chief at his office. He asked for the military to tighten its grip on Nigeria’s enemies. Eko Hot Blog reports that Lagos State Governor Babajide Sanwo-Olu has called on members of the armed forces to keep their focus on … Read more
Individuals and bank customers exempted from proposed levy Financial institutions, telcos identified as primary targets Aims to enhance cybersecurity measures, national security Eko Hot Blog reports that, addressing concerns raised by Nigerians, the Senate Committee on National Security and Intelligence has clarified that the proposed Central Bank of Nigeria (CBN) cybersecurity levy is targeted at … Read more
Biden links Japan’s economic struggles to xenophobia, echoing similar issues in China and Russia. Japan faces demographic challenges and labor shortages, hindered by restrictive immigration laws. Despite efforts to attract foreign workers, Japan’s economy remains challenged, slipping to the world’s fourth-largest. EKO HOT BLOG reports that President Joe Biden stated on Wednesday that Japan, a … Read more
By Udesinanna Stephen The Ondo State Governor has backed President Tinubu to revive the economy. He says the president is well-equipped for the job despite the global challenge of inflation. Governor Aiyedatiwa made his view known at a public lecture on economic sustainability. Akure, Ondo State – Eko Hot Blog reports that Governor Lucky Aiyedatiwa … Read more
Shettima Echoes Tinubu’s Vision At African Summit. Nigeria seeks global prowess in talent outsourcing, carbon investments. Partnerships, action vital for Nigeria’s sustainable development. EKO HOT BLOG reports that during the recent African Heads of State Summit in Nairobi, Kenya, Vice President Kashim Shettima delivered a forceful message on behalf of President Tinubu. He emphasized the administration’s … Read more