South Africa’s annual Consumer Price Index (CPI) for 2020 was at 3.3 per cent, the lowest inflation recorded since 2004, Statistics South Africa (Stats SA) said on Wednesday. Stats SA attributed food and non-alcoholic beverages as the main drivers of inflation in December with a monthly increase of 0.5 per cent and an annual rise of 6.0 per cent. This was up from November’s annual reading of 5.8 per cent. “Meat prices rose by 7.3...
Kano Investment and Diaspora, in partnership with the Foreign Commonwealth Development ((LINKS) and Manufacturers Association of Nigeria (MAN) have secured an N10 billion intervention fund from the Central Bank of Nigeria (CBN) to revive companies impacted by the Covid-19 pandemic. Speaking at the sensitization meeting on Kano Turnaround Project, on Monday, in Kano, the Director-General of KanInvest & Diaspora, Hajiya Hama Ali, said the programme, which was designed to revive companies that had been affected...
Oil prices edged lower on Monday as climbing Coronavirus cases and tighter restrictions in Europe and China fueled worries over a slower recovery in fuel demand. Encouraging gross domestic product (GDP) and industrial production data from China helped to limit the downside to some extent. Brent crude for March delivery eased 0.2 per cent to 54.98 dollars a barrel, after falling 2.3 per cent on Friday. Similarly, U.S. oil futures were down by 0.1 per...
President Muhammadu Buhari will virtually inaugurate the National Oil and Gas Excellence Centre (NOGEC), Lagos, on Jan.21, in a bid to boost the operations of the nation’s petroleum sector, an official of the Department of Petroleum Resources (DPR), has said. Mr. Paul Osu, Head, Public Affairs, who made the announcement in a statement issued on Monday, in Lagos, quoted the Director of DPR, Mr Sarki Auwalu, the chief host of the event, as saying that...
The Nigerian National Petroleum Corporation (NNPC) says it recorded a trading surplus of ₦28.38 billion in September 2020. The Corporation disclosed this in its Monthly Financial and Operation Report (MFOR) for the month of September, released in Abuja, on Sunday. It said that the amount was slightly lower than the ₦29.60 billion surplus in August 2020. The marginal reduction in surplus, according to the report, was as a result of lower contribution from the Nigerian...
More than 8,000 passengers on the Abuja-Kaduna train route have accessed the Nigeria Railway Corporation (NRC) e-ticketing platform three days after its test running. A statement by Taiye Elebiyo-Edeni, Media Assistant to Minister of Transportation, Rotimi Amaechi, said the Federal Government on Wednesday announced the commencement of the test run. She said that e-ticketing on the route would also officially begin on Jan. 20. Elebiyo-Edeni said that on the first day of the test booking,...
A report by the National Bureau Statistics (NBS) has shown that there’s an increase in the Consumer Price Index (CPI) which measures inflation. The CPI increased by 15.75 per cent (year-on-year) in December 2020, 0.86 per cent points higher than the rate recorded in the previous month (November) according to the monthly report which was released on Friday. CPI measures the changes in the purchasing power of a country’s currency, the price level of a...
The Federal Government is targeting over 160,000 poor and vulnerable rural women, to benefit from the N20,000 cash grant, across the country to cushion the effects of COVID-19 pandemic. The Minister of Humanitarian Affairs, Disaster Management and Social Development, Hajiya Sadiya Umar-Faruk, made the disclosure at the launch of the grant, on Wednesday, in Katsina, where 6,800 rural women would benefit. “We are targeting over 160,000 poor and vulnerable rural women in Nigeria for the...
Nigeria’s total public debt stock as of the third quarter of 2020 (Q3 2020) increased by N6.01 trillion according to the National Bureau of Statistics’ (NBS) Report. The report which focused on Nigeria’s Domestic and Foreign Debt Q3 2020, estimated the country’s total public debt stock constituting both external and domestic debts. The debts cumulatively stood at N32.22 trillion ($84.57 billion) as of September 2020. This represents a 22.93 percent increase when compared to N26.21...
The Ondo State Government has placed a total ban on trading along the vehicular traffic lanes, pedestrian paths and walkways on major market corridors in Akure, the state capital. State Commissioner for Information and Orientation on Friday Mr. Donald Ojogo in a statement said the development followed the setting up of the Committee on Waste Management and in its bid to instill sanity, especially in Akure. The statement said “the ban also includes artisans such...
