Economy Archives - Page 39 of 69

Dec

21

2023

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

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…

Dec

14

2023

By Amos Oge Kalu

Tinubu grants N9 billion to each state for infrastructure.

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

According to the Presidency, the 36 states that make up the Federation have received N9 billion from President Bola Tinubu's administration. Bayo Onanuga, Tinubu's Special Advisor on Information and Strategy, stated that N7 billion had been given to states for the development of infrastructure, with the remaining amount going towards palliative fuel subsidy payments. He announced on X that the Federation Account Allocation Committee, or FAAC, had increased revenue allocation. Onanuga claims: "The Bola Tinubu presidency has provided the 36 Nigerian states with unprecedented support. They recently received N7 billion each for infrastructure support, on top of the N2 billion…

Dec

07

2023

By OHAFIATV

Millennial Expectations on infrastructural development set by ECK Foundation

Abia State, Economy, Health, Lifestyle, Metro, PoliticsECK Foundation, Economy, Emeka Kalu, Health, Politics

ECK Foundation: Particularly in these trying times, infrastructure development continues to be the primary factor in improving people's lives and state of health. Giving lives the full attention they need to improve and live longer is essential to putting human society back on the path to greatness. Economically speaking, human civilization must flourish in areas with robust supplies of the social amenities that significantly improve and sustain quality of life. The ECK Foundation was founded with this idea in mind to better assist you. Health is riches, and we care more about improving it than the pyramids of Egypt. There…

Nov

30

2023

By Amos Oge Kalu

Ex-Benue Gov. Suswam explains why 2024 budget cannot be implemented

Economy, Opinion, Politics2023, Bola Ahmed Tinubu, Economy, Next Level, Nigeria, Politics

Gabriel Suswam, a former governor of Benue State, has criticised President Bola Tinubu's planned budget for 2024. Suswam clarified that the N17 trillion shortfall in the budget prevents it from being implemented. On Wednesday, Tinubu gave the National Assembly members a proposed budget of N27.5 trillion for the fiscal year 2024. Suswam countered that the budget was developed because those in positions of authority lacked leadership abilities. On Wednesday, the former governor gave a speech to 25 fellows of the Emerging Political Leaders Fellowship. Suswam states: "I was looking at the budget, and the deficit is N17 trillion out of…