The Federal Government and opposition parties clashed on Tuesday following criticism of the economic policies of President Bola Tinubu’s administration by Delta State Governor, Sheriff Oborevwori. The PDP and NNPP sided with the governor’s view that Nigerians are struggling under the weight of Tinubu’s economic reforms. However, Minister of Information Mohammed Idris defended the reforms, … Read more
Nigeria’s headline inflation rate rose to 34.60% in November 2024, up from 33.88% in October, according to the latest Consumer Price Index (CPI) report from the National Bureau of Statistics (NBS). EKO HOT BLOG reports that November figure represents a 0.72 percentage point increase from the previous month. On a year-on-year basis, the headline inflation … Read more
The Federal Capital Territory (FCT) Police Command has assured Abuja residents of a secure and peaceful Independence Day celebration on October 1. In a statement issued on Monday by the Command’s Public Relations Officer, SP Josephine Adeh, the police affirmed that adequate personnel and equipment have been strategically deployed across the capital ahead of Nigeria’s … Read more
The Ekiti State Police Command has issued a warning to residents, particularly the youth, against participating in the #FearlessOctober1 protest planned for Nigeria’s Independence Day on October 1. EDITOR’S PICKS Health, Planning Ministries Partner with AfDB on Sustainable System Project Shamim Ahmed: Student Ally of Bangladesh’s Ex-Prime Minister Loses Life Match Words With Actions -Lawyers … Read more
The organizers of the #FearlessOctober1 protest have declared that neither the police, Department of State Services, nor the military will prevent them from proceeding with their planned demonstration. The group has also sent a letter to the Inspector General of Police, Kayode Egbetokun, requesting security for the event, emphasizing that peaceful protest is a fundamental … Read more
The Trade Union Congress (TUC) has attributed the recent rise in fuel prices in Nigeria to the devaluation of the naira rather than the removal of fuel subsidies by President Bola Tinubu in May 2023. TUC President Festus Osifo, speaking on Channels Television’s Politics Today program, criticized the current administration for the naira’s devaluation, which … Read more
Nigerian Students In UK Thrown Off University Courses, Ordered To Leave Country. Students expressed distress over the university’s “heartless” actions and lack of support, with some facing severe personal and mental health issues. The university stated it must comply with strict external visa regulations, offering customised payment plans, but noted that some students still defaulted. … Read more
EFCC targets BDC operators in major Nigerian cities. Raids have disrupted trading and contributed to the naira’s high exchange rate. The Association of Bureau De Change Operators confirmed the raids affected both street traders and some registered operators. EKO HOT BLOG reports that the Economic and Financial Crimes Commission (EFCC) has intensified its crackdown on Bureau … Read more
Senate to invite Emefiele over naira devaluation ….the United States dollar to naira had now risen to N700 EDITOR’S PICK JUST IN: Shock As Hon Yakubu Impeached Over Gross Incompetence APC 2023: Tinubu Shortlists El-Rufai, Oshiomhole For Campaign DG –Reports Don’t Be Distracted With BBNaija –Peter Obi’s Running Mate, Datti Tells Supporters EKO HOT BLOG … Read more
Pegging Of N410.15 Per Dollar In 2022 Budget Will Further devalue Naira, Says Hon Raji. Hon Raji said that the exchange rate was bound to further impoverish Nigerians…. Ekohotblog reports that Tasir Olawale Raji, the member of the Lagos House of Representatives for Epe Federal Constituency, has expressed concern over what he calls an official … Read more
Attacks on farms, forex scarcity and naira devaluation have contributed to seeing local food demand outweighing production… Nigeria’s inflation rate fell for the second consecutive month in May to 17.93 per cent from 18.12 per cent recorded a month earlier. The National Bureau of Statistics (NBS), onTuesday, said that the prices of goods and services, … Read more
The Central Bank of Nigeria (CBN) has made an alteration to the price of dollar sales. In a communique to all banks and Bureau De Change on Friday, the CBN advised that the BDC to end-user sales of the Dollar should not be more than N380/1USD. This is the highest official exchange rate between the … Read more