The Chief of Defence Staff, Gen. Christopher Musa, has assured that the Nigerian military will continue to defend the nation’s democracy. Gen. Musa gave the assurance on Tuesday when the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, paid a courtesy visit to the Defence Headquarters in Abuja. EDITOR’S PICKS Dangote, … Read more
The 650,000-barrel-per-day Dangote refinery has begun test runs for Premium Motor Spirit (PMS) production, with full operation expected by mid-September. The $20bn refinery built by Aliko Dangote which has so far only produced diesel and other distillate fuels, had earlier said that petrol deliveries from the refinery would start in July. Before that, the refinery … 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
Over 600,000 Nigerian households received direct cash transfers as the federal government resumed its payment scheme to improve social welfare and economic recovery. EKO HOT BLOG reports that Nigeria’s finance minister, Wale Edun, announced that over 600,000 households have received direct cash transfers from the federal government as part of the resumed payment scheme. Edun spoke … Read more
Interest Rate Jumps to 26.75% as Monetary Authority Tightens Policy The Monetary Policy Committee (MPC) of the Central Bank of Nigeria’s (CBN) has raised the baseline interest rate by 50 basis points to 26.75% from 26.25%. This decision was made at the end of its 296th meeting on July 22-23, 2024, attended by eleven members. … 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 federal government has increased its offer for the new minimum wage for workers from N60,000 to N62,000. The figure was reportedly arrived at on Friday during a meeting between federal government representatives and labour leaders called to deliberate on the new minimum wage. The organised labour, on the other hand, … 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
Negotiations Restart: Nigerian Workers’ Minimum Wage Talks Resume. The Tripartite Committee on Minimum Wage met at Nicon Luxury Hotel in Abuja, with federal government ministers and organized labour leaders in attendance. While no state governors attended, the Nigeria Governors’ Forum was represented by its Director General, Abdulateef Shittu. EKO HOT BLOG reports that negotiations for a … Read more
FG Speaks On Food Inflation, Reveals When Prices Will Drop. Government allocates special funds for infrastructure to bolster agriculture. Edun underscores global issue of food insecurity. EKO HOT BLOG reports that the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, assures Nigerians of forthcoming reductions in food prices. Edun elaborates on the government’s … Read more
Government Reassures on Pension Fund Integrity Safeguarding Workers’ Savings a Priority Responsible Investment Strategies Explored Eko Hot Blog reports that, addressing concerns, the Nigerian government categorically stated its commitment to safeguarding workers’ pension funds. In a statement, Finance Minister Wale Edun clarified, “The federal government has no intention to illegally access workers’ savings.” Editor’s Pick … Read more
It is self-evident that whatever the Governor of the Central Bank is doing (or not doing), the backing (and banking!!) of the President is critical. On that score, President Bola Ahmed Tinubu did not pull any punches when he spoke at the Hague, Netherlands during the business session of the bilateral meeting with the Dutch … Read more
The Federal Executive Council met Tuesday and approved a few measures. One of those measures is an initiative aimed at transforming Nigeria’s infrastructure and housing sector through private partnerships. The inister of Finance and Coordinating Minister of the Economy disclosed the development at a press conference. Eko Hot Blog reports that the Federal Executive Council … Read more
Federal Government seeks World Bank loan approval for $2.25bn Funding Funds earmarked for two major development projects. Loans aimed at enhancing economic stability, resource mobilization, and fiscal reforms in Nigeria. EKO HOT BLOG reports that the Federal Government is gearing up to secure new loan funding from the World Bank, with approval anticipated for loans … 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 President Bola Ahmed Tinubu met with the Chairman of Global Infrastructure Partners (GIP), Adebayo Ogunlesi, and his team at the State House, Abuja. This was contained in a Statement posted on the official website of the of the Nigerian Presidency, statehouse.gov.ng on Thursday. Editor’s Picks Why I’m Happy To Serve … 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 Laolu Akande, a former aide to ex-Vice President Yemi Osinbajo, emphasized the need to hold accountable those responsible for printing money during the tenure of former President Muhammadu Buhari. Editor’s Pick Tinubu Govt Set To Announce New Minimum Wage ‘Fake News’ — FAAN Denies Fire Incident At Lagos Airport Lawmaker … 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