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  • Gov Adeleke disburses over N588m social safety funds

    Gov. Ademola Adeleke of Osun has disbursed over N588.10 million to 19,720 beneficiaries of Imole Osun Cash Grant Scheme on Thursday in Osogbo.  Adeleke was represented at the event by the State Head of Service, Mr Ayanleye Aina.  The governor said the beneficiaries were from the State Social Register for…

  • OPS rejects food imports, backs clampdown on hoarders

    The Federal Government has ruled out the importation of food as part of strategies to address the high costs of foodstuffs and the economic hardship troubling the country. It has also set up a committee comprising the National Security Adviser, the Director-General of the Department of State Services, and the…

  • Naira trades 1,498/$ at official market, CBN tackles racketeers

    The naira appreciated slightly against the United States dollars at the Nigerian Autonomous Foreign Exchange Market on Thursday, closing at the rate of N1,498.25/$ from N1,503.38/$ recorded the previous day. This came as the Central Bank of Nigeria on Thursday rolled out series of circulars to tackle foreign exchange racketeers…

  • Cement price hit N9500 in retail outlets across Lagos 

    The price of a 50kg bag of cement has soared to around N9500 in many retail outlets in Lagos further exacerbating the effects of inflation in the country.   Checks by Nairametrics in many retail shops in Lagos reveals that since January, the price has risen from around N6,000 to…

  • Student Loan Scheme: NANS seeks postponement of launch

    The proposed launch of the Student Loan Scheme’s online application by President Bola Tinubu on February 21, this year may not hold as the National Association of Nigerian Students, NANS, is seeking the postponement of the event, alleging that input from students has been neglected. According to investigation, the Executive…

  • FG distributes 42,000MT grains free, Ogun begins N5bn interventions

    The Federal Government, on Wednesday, announced that it would distribute the 42,000 metric tonnes of grains approved by President Bola Tinubu to poor Nigerians at no cost. This came as Ogun State Governor Dapo Abiodun on Wednesday announced over N5bn intervention plans which he said would go a long way…

  • Dangote refinery to export two fuel cargoes – Report

    The Dangote Petroleum Refinery has issued tenders to sell two fuel cargoes for export, the first from the newly commissioned refinery, trading sources with knowledge of the matter told Reuters. Nigerians have been eagerly looking forward to the release of products from the $20bn Dangote refinery after it was inaugurated…

  • FG to borrow N2.5tn via bonds – DMO

    The Federal Government is seeking to raise N2.5tn in its second FGN bonds auction of the year. Debt Management Office in a circular issued on Wednesday, stated that the offerings consisted of N1.25tn with a maturity date of February 2031 and N1.25tn with a 10-year tenor. FGN savings bonds are part…

  • IMF Confirms Return Of Petrol Subsidy Under Tinubu

    The International Monetary Fund (IMF) has said the Nigerian government has, through the backdoor, resumed the payment of subsidies on the premium motor spirit (PMS), otherwise known as petrol. Recall that on May 29, 2023, during his swearing-in speech, President Bola Tinubu announced an end to petrol subsidy, triggering a…

  • Further interest rate hike not good for economy — Comercio Partners

    Comercio Partners Limited, an investment banking firm has cautioned against further interest rate hike by the Central Bank of Nigeria, CBN, saying such a move is not good for the economy. Giving this warning at the media launching of the Comercio Partners Macroeconomic Outlook for 2024, with the theme, “Finding Rain…

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