₦500 fuel levy won’t begin automatically in 2026 Nigerians urged to disregard misleading claims Implementation requires the Finance Minister’s formal order The Presidential Fiscal Policy and Tax Reforms Committee has announced that the proposed ₦500 fuel levy will not take effect automatically on January 1, 2026. This clarification comes from the Committee’s chairman, Taiwo Oyedele, … Read more
Senator Isah Jibrin confirmed that the Senate’s investigation into the ₦30 trillion Ways and Means loans from the CBN is ongoing, dispelling rumors of abandonment. Senator Isah Jibrin, Chair of the Senate committee investigating the ₦30 trillion Ways and Means loans obtained by the Federal Government from the Godwin Emefiele-led Central Bank of Nigeria (CBN), … Read more
Eko Hot Blog reports that the minister of finance and coordinating minister of the economy Wale Edun, announced that the World Bank has approved two major “financial support packages” for Nigeria, totaling $2.25 billion. According to a statement on Thursday, this is part of President Tinubu’s ongoing efforts to stabilise the economy, reposition it for … Read more
Eko Hot Blog reports that the Finance Minister and coordinating Minister of the Economy Wale Edun has reportedly proposed a significant increase in Nigeria’s minimum wage, suggesting a new threshold of N105,000. This news medium had earlier reported that the Minister submitted the new minimum wage template to President Tinubu, meeting the 48-hour deadline issued … Read more
The Boxing and MMA Hall of Fame has teamed up with Abuja Continental to sponsor MMA Amateur Championship. This partnership aims to foster sports development and youth empowerment in Nigeria. Contestants from different states will compete at the upcoming Abuja Championship. Eko Hot Blog reports that The official announcement of the partnership between Nigeria’s well-known … Read more
President Tinubu has approved the appointment of Securities and Exchange Commission (SEC) board members. Mairiga Aliyu Katuka as Chairman and Emomotimi Agama as Director-General. Minister Wale Edun highlighted joint efforts to combat inflation and address liquidity issues at a press briefing. Eko Hot Blog reports that President Bola Tinubu has given the green light for … Read more
Eko Hot Blog reports that the Nigeria’s official currency, the Naira, on Monday, appreciated to N1,250 per dollar at the parallel section of the foreign exchange (FX) market. The FX rate is a 0.43 percent increase from the N1,280 recorded on March 29. Editor’s Picks JUST IN: Army Reacts As Explosion Rocks Ikeja Cantonment Police Confirm Delta … Read more
Eko Hot Blog reports that the Federal Government is seeking to raise N450 billion from the investing public in a new debt issuance aimed at bridging government’s deficit and deepening the domestic capital market. According to The Nation, It was learnt last night that the Debt Management Office (DMO), which oversees the issuance and management … Read more
Eko Hot Blog reports that the evening of Monday was filled with deep emotions as political, business leaders; friends, family, and associates gathered at the Eko Hotel in Lagos to pay their final respects to the late Herbert Wigwe, the former Group Chief Executive Officer of Access Holdings Plc. Editor’s Pick: FG Begins New Expatriate … Read more
Eko Hot Blog reports that the Minister of Finance, Wale Edun, along with the Minister of Budget and National Planning, Atiku Bagudu, has reassured Nigerians that the current surge in living expenses is being tackled. The Governor of the Central Bank of Nigeria, Olayemi Cardoso, and the Chairman of the Federal Inland Revenue Service, Zacch … Read more
Eko Hot Blog reports that the Central Bank of Nigeria (CBN) has refuted claims of intending to convert $30 billion domiciliary deposits into naira. Reports suggested that the Federal Government and the CBN contemplated converting domiciliary accounts to naira to stabilize the naira. There were strong indications that the Federal Government was considering a policy … Read more
EKO HOT BLOG reports that Minister of Finance and the coordinating Minister of the economy, Wale Edun has been appointed by the World Bank to chair the African Governors’ Forum of the global financial institution. His appointment was announced on Saturday in a post on X (Twitter) by Federal Ministry of Finance, titled ‘World Bank’s … Read more
Eko Hot Blog reports that the Minister of Finance and Coordinating Minister for the Economy, Mr. Wale Edun, has disclosed how much each state have received from the federal government N5 billion to all state of the federation and the Federal Capital Territory (FCT). The minister, on Friday, during a briefing with key government officials … Read more
The Nigeria Governors Forum (NGF) has reached an agreement with the Federal Government to immediately halt deductions from state accounts for local government obligations. The Minister of Finance, Zainab Ahmed, has confirmed this decision and stated that the deducted funds will be reimbursed to the states. In addition, a new leadership has emerged through consensus, … Read more
A Court has mandated Buhari Government to provide a detailed report on the $460m Chinese loan expenditure. EKO HOT BLOG reports that the government of President Muhammadu Buhari has received a court order from the Federal High Court in Abuja, requiring them to provide a detailed report accounting for the disbursement of a $460 million … Read more
The federal government of Nigeria has not dropped plans to remove fuel subsidy by June 2023. NEC has stated that the fuel subsidy must be removed as it’s not sustainable. The full subsidy removal by June 2023 remains the target as contained in the 2023 fiscal framework and appropriation act as well as the petroleum … Read more
By Praise Ben With a flourish of his pen, President Muhammadu Buhari etched his signature onto the eighth and final appropriation bill presented to him by his government. The bill, however, had not come without controversy, as the National Assembly had sent him estimates that were deemed ‘unreconciled’ and ‘spurious.’ But undeterred by the strife, … Read more
The Senate has summoned the finance minister over an unexpected N206 billion in the 2023 budget. Eko Hot Blog reports that the Senate Committee on Special Duties has summoned the Minister of Finance, Budget and National Planning, Zainab Ahmed. EDITOR’S PICKS Ekiti Assembly Impeaches Speaker, Elects Replacement LASUSTECH Clears The Air On Purported Release Of … Read more
Moghalu says the CBN does not owe the finance minister any information regarding its plan to redesign some naira notes. Eko Hot Blog reports that a former Deputy Governor of the Central Bank of Nigeria (CBN), Kingsley Moghalu, has said the apex bank does not owe the Minister of Finance, Zainab Ahmed, any information about … Read more
FG has approved N470 billion for upward adjustment of lecturers’ salaries. EKO HOT BLOG reports that President Muhammadu Buhari-led government on Wednesday disclosed that it has provided N470 billion Special Fund in the 2023 budget for university revitalisation and upward adjustment of lecturers’ salaries. The approval is coming a few days after the University lecturers … Read more