Eko Hot Blog reports that President Bola Ahmed Tinubu has approved the establishment of the Presidential Economic Coordination Council (PECC) and the creation of the Economic Management Team Emergency Taskforce (EET). The president brought into the economic team major players in the private sector, apparently to ensure a blend and cross-fertilisation of ideas. EDITOR’S PICKS … Read more
Eko Hot Blog reports that Billionaire businessman and president of the Dangote group, Alhaji Aliko Dangote has launched a N15 billion food intervention programme to cushion the burden of economic hardship on Nigerians. Speaking on Saturday during the launch of the programme in Kano, Dangote said the distribution of food items will run from March … Read more
Eko Hot Blog reports that Nigeria’s President, Bola Ahmed Tinubu, who turns 72 on March 29, 2024, has ordered that no celebration be put together for his birthday due to the mood in the country. The President, in a statement on Sunday by his special adviser on information and strategy, Bayo Onanuga, urged his associates … Read more
Essential food price surge in Nigeria due to recent policy changes. Protests erupt across the country demanding minimum wage increases to cope with rising costs. Instances of looting reported as citizens struggle with affordability of staple foods. EKO HOT BLOG reports that the cost of essential food commodities such as rice and beans has surged significantly … Read more
Eko Hot Blog reports that the Minister of Aviation and Aerospace Development, Festus Keyamo, has banned foreign trips for officials of the Ministry. The Minister, in a statement dated March 21, 2024, which was signed by the Permanent Secretary of the Ministry, Emmanuel C. Meribole, disclosed that the ban is in compliance with the earlier … Read more
Tinubu’s decision to end fuel subsidy in May 2023 caused immediate nationwide Prices of Petrol increase. NBS reports a staggering 157% rise in average fuel retail price from February 2023 to February 2024. Zamfara tops the list with the highest average petrol price at N750.43 per litre, while Kwara Senjoys the lowest at N650 per … Read more
House of Representatives urges NAFDAC to lift ban on sachet alcohol and pet bottles. Chair of House Committee on NAFDAC, Mrs. Regina Akume, stresses call during Abuja press briefing. Previous House directive to lift ban issued on March 14, 2024, in response to industry protests over job losses and investment risks. EKO HOT BLOG reports that … Read more
Eko Hot Blog reports that the Central Bank of Nigeria (CBN) has cleared the $7 billion foreign exchange (FX) backlog which was pending when Yemi Cardoso took over as the Governor of the apex bank. This development was announced in a statement on Wednesday by the CBN Acting Director of Corporate Communications, Hakama Sidi Ali. … Read more
Eko Hot Blog reports that the federal government has begun the distribution of 42,000 metric tonnes of grains nationwide. The Minister of Agriculture and Food Security, Abubakar Kyari announced the development during an interactive session with the National Assembly joint committee on Agriculture Production Services and Rural Development, on Tuesday. The committee chaired by Senator … Read more
Eko Hot Blog reports that the Central Bank of Nigeria (CBN) has announced that the 294th meeting of the Monetary Policy Committee (MPC) will be held on Monday, March 25, 2024. The apex bank announced this information on its official X handle on Tuesday. The event will take place at the CBN headquarters in Abuja, … Read more
Eko Hot Blog reports that the founder and General Overseer of Living Faith Church Worldwide (LFC), Bishop David Oyedepo, has announced a schedule for the distribution of food and other relief materials to Nigerians amid the ongoing economic hardship in the country. Bishop Oyedepo made the announcement at the church’s headquarters in Canaan Land, Ogun … Read more
Eko Hot Blog reports that Lagos State has taken a significant step to alleviate the economic burdens faced by its residents by inaugurating the ‘Ounje Eko’ food markets, offering essential food items at reduced prices. This initiative, directed by Governor Babajide Sanwo-Olu, aims to provide financial relief by selling staple foods at a 25% discount … Read more
EKO HOT BLOG reports that amidst the skyrocketing prices of cement nationwide, the costs of iron rods, also known as reinforcements, have surged significantly, surpassing the increases seen in cement prices. This online media platform highlights the ongoing challenge faced by Nigerians in realizing the dream of owning affordable homes, as the exorbitant prices of key … Read more
Eko Hot Blog reports that President Bola Tinubu on Monday appealed to the governors of the various states to ensure they pay the wage awards to workers in their respective states. Speaking during the commissioning of projects in Minna, Niger State, the President said if the wage awards are paid, it would go a long … Read more
Eko Hot Blog reports that the President of the African Development Bank (AfDB), Akinwunmi Adesina, has said that he sympathises with President Bola Ahmed Tinubu’s government over the country’s economic challenges. Adesina pledged the sum of $1.8bn in budget as support, saying that about $1bn out of the amount will be issued as a concessionary … Read more
EKO HOT BLOG reports that amid Nigeria’s challenges with soaring inflation and increasing living expenses, organized labor, spearheaded by the Nigeria Labour Congress (NLC), has put forward a bold proposal for a minimum wage of N500,000 for Nigerian workers. This proposal coincides with the commencement of zonal public hearings on the new wage structure across six … Read more
Eko Hot Blog reports that the House of Representatives, has on Wednesday declared its support the idea of paying Nigerian workers the minimum wage that are appropriate to the present worldwide economic conditions. The House assigned its relevant committees in Labour and Employment, Finance, and National Planning the responsibility to devise strategies for compensating Nigerian … Read more
EKO HOT BLOG reports that the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has pinpointed the cause of the current inflationary pressures in Nigeria to the massive printing of currency during President Muhammadu Buhari’s tenure, which he claims was executed “without productivity.” This statement was made during a critical session with the … Read more
Eko Hot Blog reports that the Senate, on Wednesday, resolved that the leadership of the National Assembly will meet with President Bola Tinubu over the worsening insecurity in the country. This follows a motion of urgent importance raised by Senator Emmanuel Udende on the killing of over 50 people in fresh attacks in no less … Read more
EKO HOT BLOG reports that the Ukrainian government has intervened by offering 25,000 tonnes of wheat as emergency food assistance to 1.3 million vulnerable individuals in northeast Nigeria, amid the country’s rising inflation and food price challenges. This information comes from a statement released by Atinuke Akande-Alegbe, the Senior Communications and Public Diplomacy Officer at the … Read more