Economy Archives - Page 57 of 95

Aug

14

2023

Forex: CBN takes action to halt the naira’s wild collapse

Business, Economy, Metro, News2023, Business, CBN, Economy, Metro, Next Level

According to the Central Bank of Nigeria, fresh steps would be taken to stabilize the naira's value relative to the dollar. After meeting President Bola Tinubu on Monday at the State House about the bank's efforts to stop the decline, Folasodun Sonubi, acting governor of the CBN, disclosed the information. According to him, President Tinubu voiced his concern about the effects of recent changes in the foreign exchange market, particularly on regular people. The CBN is aggressively trying to increase market liquidity and stability, including resolving challenges in the parallel market, Sonubi said he promised the President. Sonubi emphasized that…

Aug

13

2023

By Amos Oge Kalu

Adamu Garba says Algeria will supply free electricity to Niger Republic.

Economy, Metro, Opinion, PoliticsEconomy, Niger, Nigeria, Opinion

Adamu Garba, a leader of the All Progressives Congress (APC), asserted that Algeria had chosen to provide the Niger Republic with free electricity. According to Naija News, the Transmission Company of Nigeria (TCN) turned off the country's electricity supply. Adam Umar El-yandiski, the TUC's public relations officer for the Kano State subregion, called Channels Television to corroborate the information. He maintains that there is no relationship between the connection that supplies electricity to the Niger Republic and the provision of electricity to any other area of the nation because it receives its power directly from the national grid. Pressure was…

Aug

13

2023

By Amos Oge Kalu

NASS concessions: SERAP sues Akpabio and Abass

Economy, PoliticsAkpabio, Economy, Representatives, Senate

The Senate President, Godswill Akpabio, and the Speaker of the House of Representatives, Tajudeen Abbas, are the targets of a lawsuit brought by the Socio-Economic Rights and Accountability Project (SERAP) over "the unlawful plan to spend N40 billion on 465 exotic and bulletproof cars for members and principal officials, and N70 billion as "palliatives" for new members." The lawsuit was filed shortly after Akpabio claimed that the National Assembly Clerk had transferred "holiday allowances" to "various senators' bank accounts." Nigeria's 137 million people live in abject poverty. SERAP is requesting an order of mandamus in the case FHC/L/CS/1606/2023, which was…

Aug

09

2023

By Amos Oge Kalu

Sea ports, new cities will soon arise in the Southeast – Iwuanyanwu

Economy, News, Opinion, PoliticsBiafra, Economy, Iwuanyanwu, Ohanaeze Ndigbo, Politics

Chief Iwuanyanwu, who revealed the information in a conversation with one of our correspondents on Monday night, asserted that the South East merited a working sea port in light of the region's significant investment and participation in trade and commerce. He expressed confidence that initiatives to involve the required parties in the idea would be effective. "We'll be constructing additional cities in Igbo land very soon. We also anticipate a seaport. Before I pass away, we want Igbo land to be beautiful and our children to be proud of Igbo territory". Chief Iwuanyanwu Chief Iwuanyanwu said Ohanaeze was dedicated to…

Aug

09

2023

By Amos Oge Kalu

Abia state to provide land as Hungarian company invests $1.5 million to increase manufacturing

Abia State, Business, Economy, News, PoliticsAbia State, Alex Otti, Business, Economy, Politics

The creation of a manufacturing plant within the state is subject to negotiations with the Hungarian company Ortoprofil, which have been authorized by the governor of Abia State, Alex Otti. According to information obtained by Nairametrics, Ortoprofil intends to invest $1.5 million in the state of Abia to create raw materials, shoes, prosthetics, and other items through a partnership. The Governor's Chief Press Secretary (CPS), Kazie Uko, released a statement on Monday announcing this event. The choice was made during a meeting over the weekend between high-ranking members of the Hungarian government, led by Mr. Gabor Kruss, Deputy Ambassador of…