Nigerians continue to feel the pinch of President Bola Tinubu’s major decisions – scrapping the petrol subsidy and relaxing foreign exchange restrictions – as inflation climbed more than anticipated to a near 28-year high in January. The National Bureau of Statistics, NBS, says Nigeria’s headline inflation rate increased to 29.90 per cent in January. Last month’s rate is a 0.98 per cent increase from the 28.92 per cent recorded in December 2023. Tinubu’s policies caused...

Nigeria’s annual inflation rose in September to its highest level in about two decades at 26.72 per cent, amid a worsening cost-of-living crisis in Africa’s largest economy. The September inflation rate is a 0.92 per cent increase from August’s 25.80 per cent, the National Bureau of Statistics [NBS] said on Monday in its Consumer Price Index [CPI] report for September 2023. Food inflation, making up the bulk of Nigeria’s inflation basket, rose to 30.64 per...

Anambra State Government has signed memorandum of understanding with thirteen organisations across different economic sectors including commerce and automobile. The MOU signing ceremony was highpoint of the Anambra Investment Summit, ANINVEST 2023, held at Anambra International Convention Centre, Awka. The MoUs were signed with Universal Elysium Ltd for the development of Onitsha River Port, Birds Water Ltd and Neni Development Union for the development of Neni Water Scheme, OMAA Global Engineering and Tech for the...