Economy
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FG will partner builders to revive Ajaokuta, says Steel Minister
By Mosunmola Ayobami, Ilorin The Minister of Steel Development, Prince Shuaibu Abubakar has said the Nigerian government would partner both foreign and local builders to revive the moribund Ajaokuta Steel Company located in Kogi State. The Minster disclosed that funding is delaying the revival of the company, saying that it would gulp about $2 billion. Abubakar stated this in Ilorin…
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Reps vow legislative action to curb soaring cement prices
The House of Representatives has pledged to enact legislation aimed at curbing the skyrocketing prices of cement across Nigeria. Speaker of the House, Tajudeen Abass, made this declaration during a public hearing held on Tuesday in Abuja to investigate the persistent surge in cement costs in the country. Addressing attendees, Speaker Abass emphasized the significance of the public hearing in…
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Minister of Finance lauds World Bank impact on Nigeria’s economy
The Minister of Finance and Co-ordinating Minister of the Economy, Mr Wale Edun, has commended the World Bank’s crucial role in promoting socio-economic sustainability and enhancing Nigeria’s economic competitiveness. He commended the outgoing World Bank Country Director, Dr. Shubham Chaudhari for his significant contributions to Nigeria’s economic growth At an event held in Abuja, hosted by the Honourable Minister in…
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Ensure swift action on national minimum wage decision, NECA tells FG
By Innocent Raphael The Nigeria Employers’ Consultative Association (NECA) has issued a plea to the federal government, urging prompt action from the tripartite committee responsible for determining the national minimum wage. The association expressed deep concern over the prolonged delay, warning that it is fueling agitation and distrust among stakeholders. In a statement, NECA’s president, Adewale-Smatt Oyerinde, highlighted the urgency…
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Shell Nigeria Gas, OYSG seal deal to boost gas infrastructure
By Innocent Raphael Shell Nigeria Gas (SNG) and the Oyo State Government have sealed an agreement to develop a robust gas supply and distribution infrastructure across the state. The agreement, announced in a statement on Friday by Shell Nigeria’s Media Relations Manager, Abimbola Essien-Nelson, outlines SNG’s commitment to constructing and operating a gas distribution network spanning Oyo State for the…
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Minimum Wage Increase: Governors to review states’ fiscal capacity
By Innocent Raphael Governors under the umbrella of the Nigeria Governors’ Forum (NGF) have announced plans to reassess their fiscal capacities in order to implement an enhanced minimum wage for workers. The decision was made during a meeting chaired by AbdulRahman AbdulRazaq, the Governor of Kwara State. The governors, while praising Nigerian workers for their resilience amidst challenges, emphasized their…
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NLC insists States can pay N615,000 minimum wage
The Nigeria Labour Congress (NLC) has insisted the proposed N615,000 minimum wage is realistic, dismissing claims that some states cannot pay such an amount if approved. It would be recalled that the NLC proposed a N615,000 monthly salary for workers, a jump from the current N30,000. Although many believe it is unrealistic, the labour union believes many states can pay…
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Nigeria’s economy will witness positive changes, Shettima assures
Again, Vice President Kashim Shettima has implored Nigerians to be patient with the administration of President Bola Ahmed Tinubu as he steers the ship of state through the economic turbulence and storm he met on ground on assumption of office. “Soon, Nigeria’s economy will experience significant growth once we’ve overcome these sacrifices. Positive changes will soon be evident across all…
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LASG builds leather hub for N4bn
By Adeola Ogunrinde The Lagos State government has said a total of N4bn was spent to build the State’s Industrial Leather Hub. The project was said to be 90 percent completed and would be commissioned soon. Commissioner for wealth creation and Employment, Akinyemi Bankole Ajigbotafe, made this known during 2024 Ministerial press briefing where he gave the account of the…
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Lagos generates N433bn in First Quarter of 2024
By Adeola Ogunrinde The Lagos State Government has generated a total revenue of ₦433,408 billion in the first quarter of the 2024 fiscal year. Commissioner for Economic Planning and Budget, Mr. Ope George, disclosed this on Thursday, during the ongoing ministerial press briefing to commemorate the first year in office of the second term of Governor Sanwo-Olu, held at Alausa,…
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