Economy Archives - Page 54 of 95

Nov

27

2023

N27.5 trillion 2024 appropriation bill has been approved by FEC.

Economy, Politics2023, Bola Ahmed Tinubu, Economy, Politics

On Monday, the Federal Executive Council gave its approval to the appropriation bill for the year 2024, which is expected to be presented by President Bola Ahmed Tinubu along with a total of N27.5 trillion. Ministers, the governor of the Central Bank of Nigeria (CBN), the national security adviser, and a few other high-ranking government officials, including permanent secretaries, are all members of the Council, which is the highest policy-forming body for the federal government. More to come.....

Nov

21

2023

By Amos Oge Kalu

Government of Abia State denies spending N927 million on meals.

Abia State, Economy, Opinion, PoliticsAbia State, Alex Otti, Peoples Democratic Party

The Abia State Government has refuted accusations claiming that Alex Otti, the state governor, spent more than N900 million on welfare and food programs between July and September of 2023.According to media sources, Otti spent N927 million on meals and drinks, honoraria payments, welfare benefits, and allowances in just three months. The state's commissioner for budget and planning, Mr. Kingsley Anosike, clarified that the expenditure "was not by the governor's office as alleged, but by the entire ministries, departments and agencies" in the state, calling the reports "a reflection of the opposition's mindset to create mischief" in a press release…

Nov

07

2023

By Amos Oge Kalu

Nigeria struggles with Naira volatility as exchange rates undermine country’s economy, investors’ confidence.

Business, Economy, Metro, PoliticsBusiness, Economy, eNaira, Money, Nigeria

Investor confidence is impacted by the Naira's volatility versus the US dollar, which keeps sending shockwaves of anxiety across Nigeria's economy. The country's currency appreciated against the dollar last week, providing a brief reprieve. On the parallel market, it was trading at N970/$1 as opposed to N1300/$1 the week before. The naira, however, had a poor start to the week, with Monday's exchange rates ranging from N1000 to N1020/$1. This indicates a minor decline from the N970/$1 exchange rate during the previous weekend. In the same vein, the Naira fell 4.24 percent at the official FMDQ market, from N780.03/$1 on…

Nov

04

2023

By Amos Oge Kalu

Nigeria, revenue, poverty and taxation atrophy – Opinion

Column, Economy, Metro, Opinion, PoliticsAbiodun KOMOLAFE, Economy, Next Level, Nigeria, Politics

By Abiodun KOMOLAFE When our forefathers came up with the wise saying that ‘the earnest wish of potters is for the earth to be clay’, it was not only worthy of commendation but also no mean achievement. The beauty of the adage is that, in some 1000 years to come, it will still be relevant. So, instead of concentrating on having more wealth, the wisdom in it is learning how to be frugal and maximally productive with the little that’s available. Simple Economics: economic activities breed taxation, while taxation without representation is problematic. Generally, the mission of governments is revenue…

Oct

02

2023

By Amos Oge Kalu

AIIP Project: Gov. Alex Otti Is Repositioning Abia State For Massive Investment – Amb. Osita Offor, UAAP Convener

Abia State, Economy, Metro, PoliticsAbia State, Alex Otti, Economy, Politics, Ultimate Commander

The leadership of United Abia Artistes and Patriots (UAAP), has described the Abia Industrial Innovation Park (AIIP) project at Owaza in Ukwa West LGA which was flagged off on Saturday 30th September 2023 by Governor Alex Chioma Otti OFR as a revolutionary project that will reposition the economy of Abia State. While speaking at the sideline of the project launch, the Convener of UAAP Amb. Dr. Osita Offor ‘Ultimate Commander’, posited that UAAP is extremely happy that Governor Alex Otti is doing everything to turnaround the fortunes of the state and position the state in her rightful place within the…