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Tanimu Yakubu Succeeds Ben Akabueze as DG Budget Office

President Bola Tinubu has appointed Mr. Tanimu Yakubu as the new Director-General of the Budget Office of the Federation, succeeding Mr. Ben Akabueze, whose tenure has ended. The appointment was announced in a statement by Ajuri Ngelale, Special Adviser to the President on Media and Publicity. Yakubu is a distinguished economist who served as Chief […]

Nigeria Secures $2.25bn from World Bank to Bolster Economic Stability

The World Bank has approved a total of $2.25 billion for Nigeria to support the federal government’s efforts to sustain economic reforms, accelerate non-oil revenue generation, and assist impoverished Nigerians. This funding includes $1.5 billion for the Reforms for Economic Stabilization to Enable Transformation (RESET) Development Policy Financing Programme (DPF) and $750 million for the […]

Nollywood Star Yvonne Jegede Rebukes Nedu Over Remarks on Her Apology

Nollywood actress Yvonne Jegede has sharply criticized her colleague and media personality, Chinudu Ani Emmanuel, popularly known as Nedu, for his comments regarding her apology to Yul Edochie’s first wife after endorsing his second marriage. Jegede had issued a public apology after seemingly supporting Edochie’s controversial second marriage during an appearance on “The Honest Bunch” […]

Tinubu Pledges New Minimum Wage Within Government’s Means

President Bola Tinubu has affirmed that he will approve a new minimum wage that the Nigerian government can sustain. He made this announcement on Wednesday during a dinner in Abuja, held to celebrate Nigeria’s 25 years of uninterrupted democracy. The event was attended by Senate President Godswill Akpabio, Deputy Senate President Jibrin Barau, and other […]

MAN Reports 300 Companies Closed, 380,000 Jobs Lost Due to Electricity Tariff Hike

The Manufacturers Association of Nigeria (MAN) has expressed deep concern over the recent hike in electricity tariffs, which has led to the closure of over 300 companies and the loss of 380,000 jobs in the past two months. Senator Ahmed Abdulkadir, speaking on behalf of MAN at an investigative hearing in Abuja, noted that electricity-related […]

NLC Denies Pact With FG, Reiterates Demand for N250,000 Minimum Wage

The Nigeria Labour Congress (NLC) has clarified its position on the new minimum wage following President Bola Tinubu’s remarks in his 2024 Democracy Day speech. According to the NLC, no specific figure was agreed upon with the Federal Government and Organised Private Sector (OPS) representatives at the end of the tripartite negotiations. “Our demand remains […]

Tinubu Vows Quick Passage of New Minimum Wage Law

President Bola Tinubu has assured organized labor that an executive bill on the new national minimum wage for workers will soon be sent to the National Assembly for passage. This announcement came during his Democracy Day speech on June 12, 2024. “In this spirit, we have negotiated in good faith and with open arms with […]

Democracy Day: Nigeria’s Oil-Dependent Economy Needs Major Reforms – Tinubu

Nigeria’s President, Bola Ahmed Tinubu, stated that the country’s economy has long been based on a flawed foundation due to over-reliance on oil revenue. He made this declaration on Wednesday during his national broadcast in celebration of Democracy Day 2024, marking 25 years of uninterrupted democracy in Nigeria. The President acknowledged the hardships resulting from […]

Guinness Sells Majority Stakes in Nigeria

In a historic agreement set to reshape Nigeria’s beverage industry, Tolaram has agreed to purchase Diageo’s 58.02% stake in Guinness Nigeria Plc. This announcement was made in a press release on the Nigerian Exchange (NGX). The sale is part of a trend of major multinational organizations exiting the country, citing tough economic challenges. The purchase, […]

Electricity Subsidy Down to N1 Trillion — Power Minister

The Minister of Power, Mr. Adebayo Adelabu, announced that the introduction of Band A with a higher tariff has reduced the electricity subsidy to N1 trillion from approximately N3 trillion. Speaking at a public hearing on electricity tariffs organized by the House of Representatives Joint Committee on Power, Commerce, National Planning, and Delegated Legislation in […]

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