Speaker Tajuden Abass Speaks on Oil reliance He calls for diversity in Nigeria’s Economy He urges Nigerian Youths to seek opportunities in Entrepreneurship The Speaker of the House of Representatives, Mr. Tajudeen Abbas, has emphasized that Nigeria’s over-reliance on oil will lead to greater inequality, widespread poverty, and mass unemployment. Speaking at the 14th convocation … Read more
The 10th Senate, under the leadership of Godswill Akpabio, on Thursday, advanced the ₦49.7 trillion 2025 Budget to its second reading. EKO HOT BLOG reports that the budget received approval during plenary after extensive deliberations. The budget, presented the previous day by President Bola Tinubu, was subsequently referred to the Committee on Appropriations, chaired by … Read more
The House of Representatives has directed the Nigeria Upstream Petroleum Regulatory Commission (NUPRC) to provide detailed records on oil production, crude sales, and other upstream petroleum operations in the country. This mandate was issued during a joint session of the House Committee on Finance and the Committee on National Planning, held in Abuja on Friday … Read more
Former presidential candidate of the Labour Party (LP) in the 2023 election, Peter Obi, has urged the federal government to prioritize transparency and accountability in managing Nigeria’s vital oil resources. This comes as the Port Harcourt Refinery officially resumes production after undergoing rehabilitation. Reacting to the development, the former governor of Anambra State took to … Read more
The Nigerian National Petroleum Company (NNPC) Limited has dismissed recent reports alleging the imminent removal of its Group Chief Executive Officer (GCEO), Mele Kyari. Speaking to The Punch on November 15, NNPC’s Chief Corporate Communications Officer, Olufemi Soneye, described the speculation as baseless and urged the public to disregard the claims. EDITOR’S PICKS Trump Taps … Read more
The federal government, led by President Bola Tinubu, has revealed plans to significantly reduce the use of the U.S. dollar, in the Nigerian economy , focusing on strengthening the local currency, Naira. According to Wale Edun, Minister of Finance and Coordinating Minister of the Economy, the administration aims to de-dollarise the economy as part of … Read more
Nigeria economy Tops 2021 Growth Forecasts on Crops Nigeria GDP grew 3.4% in 2021; central bank estimate +3.1% Oil production fell to 1.50 barrels per day in the fourth quarter EKO HOT BLOG reports that Nigeria’s economy recorded a higher Gross domestic product (GDP) growth forecast by the central bank and government in 2021 after … Read more