Despite ongoing inflation challenges, Dr. Jumoke Oduwole, Nigeria’s Minister of Industry, Trade, and Investment, has reaffirmed that the Tinubu administration is strategically diversifying the economy away from oil dependency by unlocking the potential of non-oil sectors. Oduwole made this statement during the third day of the 16th National Council on Industry, Trade and Investment in…
The Socio-Economic Rights and Accountability Project (SERAP) has called on the Nigerian National Petroleum Company Limited (NNPCL) to account for the missing N500 billion oil revenue, following a shocking revelation by the World Bank. According to the World Bank, NNPCL only remitted N600 billion out of N1.1 trillion in revenue from crude oil sales and…
The National Bureau of Statistics (NBS) has revealed that Benue, Ekiti, and Kebbi States recorded the highest year-on-year food inflation rates in Nigeria, according to its April 2025 Consumer Price Index (CPI) report. Benue State led the chart with a staggering 51.76% rise in food inflation, followed by Ekiti State at 34.05%, and Kebbi State…
The Federation Account Allocation Committee (FAAC) has distributed a total of N1.681 trillion in revenue generated in April 2025 to the Federal Government, 36 states, and 774 local government councils. NaijaBlogDaily reports that this marks an increase of N103 billion compared to the N1.578 trillion shared in March 2025, signaling a modest rise in national…
Nigeria’s inflation rate has slightly declined, dropping to 23.71% in April 2025 from 24.23% in March, according to the latest data released by the National Bureau of Statistics (NBS). In its Consumer Price Index (CPI) update released Thursday, the NBS reported a 0.52% decrease in the headline inflation rate month-on-month. “This means that in April…
In a move that could deeply impact Nigerian families, United States lawmakers have introduced a bill proposing a 5% tax on all international money transfers, including remittances sent from the US to countries like Nigeria. The draft legislation, presented by House Republicans, seeks to impose an excise tax on remittances sent abroad by US residents….
The World Bank has revealed that Nigeria must increase its current economic growth rate by five times to reach a $1 trillion GDP target by 2030 and reduce rising poverty levels. This was disclosed during the unveiling of the Nigeria Development Update (NDU) report titled “Building Momentum for Inclusive Growth.” Presenting the report, Alex Sienaert,…
President of Dangote Group, Alhaji Aliko Dangote, has reaffirmed that the Dangote Refinery is not in competition with the Nigerian National Petroleum Company Limited (NNPC), emphasizing a new era of cooperation aimed at enhancing Nigeria’s energy security. This declaration was made during Dangote’s visit to Bayo Ojulari, the newly appointed Group Chief Executive Officer (GCEO)…
Tech billionaire and philanthropist Bill Gates has announced he will give away nearly all his wealth—an estimated $200 billion—by 2045, leaving just 1% for personal use, as he plans to shut down the Bill and Melinda Gates Foundation. In a heartfelt post on his blog Gates Notes, the Microsoft co-founder stated that the globally renowned…
Bitcoin has surged past the $100,000 mark for the first time since February, driven by renewed investor confidence following a major trade deal between the United States and the United Kingdom. The world’s largest cryptocurrency touched a high of $109,241.11 on Thursday, echoing its January 20 peak—the same day U.S. President Donald Trump was inaugurated…
