Economy
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Edun canvasses social protection policies to address high cost of living
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has canvassed social protection policies that would address the high cost of living in Nigeria. Edun gave the suggestions at the 3rd edition of the Social Protection Cross Learning Summit held in Abuja. The Minister observed that the high-level meeting, organised under the leadership of the Vice President,…
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FG distributes 20 trucks of rice to 36 state Governors
By Kunle Sanni In a bid to address the food shortages experienced in the country, the Federal Government has approved the distribution of 20 trucks of Rice to all the state Governors for onward distribution to vulnerable Nigerians. Briefing State House Correspondents after the Federal Executive Council meeting presided over by President Bola Tinubu in Abuja, Minister of Information and…
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Power sector reforms: FG plans to invest $50m funding for state solar plant, among others
In its renewed determination to drive economic growth and development in the country, the Federal Government, on Monday revealed plans to invest $50million funding for state solar plant pilots and infrastructure upgrades. Director, Information and Public Relations, Federal Ministry of Finance, Mohammed Manga, in a statement added that the government also wis planning to roll out 3.5 million meters to…
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BREAKING: Nigeria’s headline inflation increases to 34.19% in June 2024, says NBS
The National Bureau of Statistics (NBS) on Monday disclosed that Nigeria’s headline inflation increased to 34.19 per cent in June 2024 from 33.95 per cent reported in May 2024. On a month-on-month basis, headline inflation rose by 17basis to 2.31per cent from 22.14 per cent m/m. According to the report, Food inflation increased by 21basis points to 40.87per cent from…
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NBS lauds Kwara’s initiative to embark on GDP compilation
Kwara State has taken a significant step toward economic development by investing in the compilation of its Gross Domestic Product (GDP) from 2013 to 2022, aligning itself with other structured states in Nigeria. This initiative, according to the National Bureau of Statistics (NBS), highlights the state’s commitment to data-driven planning and policy-making. During a courtesy visit to Government House, Ilorin,…
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65% of uncultivated arable land in Africa enough to feed 9.5bn people by 2050- Adesina
The President of African Development Bank (AfDB), Dr Akinwunmi Adesina, has said Africa had 65 percent of the uncultivated arable land left in the world to feed 9.5 billion people by 2050. Adesina stated that what Africa does with agriculture will determine the future of food in the world. “Essentially, food is money. The size of the food and agriculture…
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Tinubu reaffirms commitment to food security, announces suspension of tariff on imported grains
By Kunle Sanni President Bola Tinubu has reaffirmed his administration’s commitment to addressing food security concerns in the country and driving down the cost of living for citizens. He said the government’s recent decision to temporarily suspend tariffs on imported grains and other essential food items, a policy announced earlier in the week by the Minister of Agriculture and Food…
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Tinubu’s new measures will drive down food prices, group assures Nigerians
The Tinubu Media Volunteers (TMV) has described the new measures taken by President Bola Ahmed Tinubu to drive down inflation of food prices as radical and proactive adding that they will soon bear fruits. In a statement signed by its Chairman Chukwudi Enekwechi and Secretary Sunday Shedrach Gyungoun, the group argued that the new measures will stem the tide of…
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FAAC: Lagos Other South West States shared N81.4bn in May 2024
Lagos and six other South Western States shared a whopping sum of N81.4billiion from the Federal Allocation for the month of May 2024. This is according to latest report by National Bureau of Statistics (NBS). NBS in its, “Federation Account Allocation Committee (FAAC)” May 2024 disbursement highlighted that the Federation Account Allocation Committee (FAAC) disbursed the sum of N2.19 trillion…
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FG sets up food system initiative over rising food prices, insecurity
By Kunle Sanni The presidency has engaged the states, development partners and other critical stakeholders in the ongoing efforts to address the soaring prices of commodities and general food insecurity in the country. On Friday, Vice President Kashim Shettima inaugurated the Presidential Food Systems Coordination Unit (PFSCU) as part of President Bola Ahmed Tinubu’s efforts to tackle hunger and hardship.…
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