Economy Archives - Page 52 of 95

Dec

23

2023

House of Rep: South East Devt. Commission Bill passes third reading

Economy, Metro, News, PoliticsBiafra, Economy, Politics

Yesterday, the House of Representatives carried a bill proposing the creation of the South East Development Commission through third reading, 53 years after the Nigerian civil war. After reviewing the bill's report, the House made a unanimous decision in the Committee of the Whole, which was presided over by the deputy speaker, Rt. Hon. Benjamin Okezie Kalu. The bill's explanatory memorandum, which was signed by all of the South East lawmakers including Kalu, the lead sponsor, stated that the Commission would be in charge of managing funds allocated from the Federation Account for the reconstruction and rehabilitation of roads, homes,…

Dec

23

2023

By OHAFIATV

“My policies will bring succour,” Tinubu assures Nigerians ahead of Christmas.

Business, Economy, Metro, PoliticsBola Ahmed Tinubu, Economy, Next Level, Politics

President Bola Tinubu reassured Nigerians that his initiatives would be beneficial. President Tinubu announced this at the Ansar-Ud-Deen Central Mosque in Surulere, Lagos, according to presidential spokesperson Ajuri Ngelale on Friday. His government's economic reforms aim to provide a strong basis for Nigerians today and in the future, he said. While on a brief Christmas holiday in Lagos State, President Tinubu reiterated his commitment to the welfare of all citizens, saying the recent 50% cut in inter-state land transport fares nationwide and the payment of N-Power beneficiaries' backlog of allowances, among other reliefs, are all efforts to ease Nigerians' burden…

Dec

21

2023

By OHAFIATV

Accelerate the use of Chinese currency, Representatives urge FG

Business, Economy, Metro, PoliticsBusiness, Economy, Metro, Next Level, Nigeria, Opinion, Politics, Representatives

The Federal Government and the Central Bank of Nigeria have been urged by the House of Representatives to expedite the Chinese Yuan's adoption as a substitute trading currency. This call was part of a resolution that was approved on Wednesday in response to a motion made by Jafaru Leko. Recall that the Federal Government of Nigeria and China established a bilateral currency swap arrangement. This was reported by OHAFIATV News. Amidst the naira's struggle against major Western currencies, Leko encouraged the government to embrace the current in the motion. According to him, the currency need to be included in Nigeria's…

Dec

17

2023

By OHAFIATV

Anambra: Four injured after truck crashes into a parking lot.

Business, Economy, MetroAccident, Anambra State, Metro, Nigeria

A truck transporting a forty-foot container collided with the Asaba Motor Park along Oguta Road by Upper Iweka in Onitsha, Anambra State, injuring four people. On Saturday, the event occurred at approximately 11:15 a.m. The truck driver was heading towards the River Niger Bridge when the brakes failed, according to witnesses at the parking lot. The car drove off the road and slammed into the motor park, according to the sources, when the driver was trying to control the brake failure. It was said that the truck struck more than ten cars, including tricycles, commercial buses, and a Toyota Sienna,…

Dec

15

2023

By OHAFIATV

Nigerian inflation soared to 28.20% in November, according to NBS

Business, Economy, Metro, NewsBusiness, Economy, Inflation

Nigeria's headline inflation rate increased from 27.33 percent in October 2023 to 28.20 percent in November. This was revealed in the National Bureau of Statistics' consumer price index data from November. The graph shows Nigeria's headline inflation rates for the eleventh time in 2023. In November 2023, the headline inflation rate was 0.87 percentage points higher than it was in October 2023. The headline inflation rate was 6.73 percentage points higher year over year than the rate of 21.47 percent recorded in November 2022. This demonstrates that, when compared to the same month in the previous year (November 2022). the…