Economy

The Nigerian and Ghanaian currencies are expected to be broadly stable in the next week to Thursday, thanks to Central Bank support, traders said. The naira is seen holding steady as Central Bank dollar sales counteract pressure from foreign investors trying to pull their money to safe havens because of United States (U.S.) President Donald Trump's changing tariff policies, according to a report in Reuters today. The report said the naira was quoted around N1,620 to the dollar in intraday trading on Thursday, April 10, compared with a closing quote of N1,530 a week earlier. The unit was sold at…

By Shafa'atu Suleiman, Sokoto In a world where adolescent girls face numerous challenges, including poverty, inequality, menstrual scarcity, mental health issues and violence, creating safe spaces for them is crucial for their well-being. Save the Child Initiative (STCI) in collaboration with the Adolescent Girls' Initiative for Learning and Empowerment (AGILE) project in Sokoto, North-West Nigeria, is doing just that – providing a haven for adolescent girls to thrive. According to the United Nations Children's Fund (UNICEF), one in five girls worldwide experiences sexual violence before the age of 18. In Nigeria, the statistics are equally alarming, with 30% of girls…

By Achadu Gabriel, Kaduna As hardship orchestrated by the President Bola Tinubu administration's removal of fuel subsidy takes a toll on ordinary Nigerians, the situation has forced all sorts of painful socio-economic adjustments by the masses. Findings showed that,on a personal level, the objective for many ordinary Nigerians is to stay alive by any means possible, given that most families are not feeding as well as in past decades. It was also discovered that many petty traders, including food items producers, have devised strategies to manage to stay in business, rather than go under and await the inevitable. The case…

By John Bassey, Birnin Kebbi The massive economic potentials of Kebbi State took centre stage when top officials of Nigerian Shippers' Council came calling to the North-West Nigerian State. Aspects of the potentials, particularly the vast water body located in Dolekaina, Dandi Local Government Area (LGA), suitable for shipping and fishing activities, were highlighted. Nigerian Shippers’ Council was established under military rule in 1978 but the decrees governing its existence later became Act Cap. N133, Laws of the Federation of Nigeria 2004,under civilian democratic rule. The Council is Nigeria's port economic regulator. A delegation from the Council held a town…

By our reporter Nigeria's National Bureau of Statistics (NBS)said on Wednesday, January 15 that the nagging inflationary spiral in the country had reached 34.80%,as of December,2024. It was 33.60% in November, 2024. NBS disclosed these in its latest Consumer Price Index (CPI). On its official Facebook account,which has a modest 15,000 followers, NBS said:"In December 2024, the Headline inflation rate was 34.80% relative to the November 2024Headline inflation rate of 34.60%. "Looking at the movement, the December 2024 Headline inflation rate showed a marginal increase of 0.20% compared to the November 2024 Headlineinflation rate. This was due to December festive…

By Achadu Gabriel, Kaduna Frank-talking Senator Shehu Sani, who represented Kaduna Central senatorial district in the 8th Senate, has regretted that many persons from the Northern and South-Western parts of Nigeria do not own properties in the South-East of the country. While not blaming the South-Easterners for the development, Sen. Sani described the South-East as beautiful. He opted to purchase a piece of property there, periodically visit the place for holidays, and thus encourage persons from the North and South-West to do same. Sen. Sani, in his verified X (formerly Twitter) handle, posted that Northerners and South-Westerners do not usually…

Oando PLC has finalised its acquisition of Nigerian Agip Oil Company (NAOC) from Italian energy major Eni, marking a significant achievement in its long-term growth strategy. The total consideration for the deal is $783 million, which includes reimbursement and consideration for the asset, as confirmed by Oando in a press release. The landmark transaction, according to Mr. Wale Tinubu, Group Chief Executive, Oando PLC, is the "culmination of ten years of toil, resilience, and an unwavering belief in the realisation of our ambition since the 2014 entry into the Joint Venture via the acquisition of Conoco-Philips Nigerian Portfolio". The Nigerian…

By SHEDDY OZOENE  After three days of nationwide protests over bad governance in the country, President Bola Ahmed Tinubu has scheduled to address the nation on Sunday. Chief Ajuri Ngelale, Special Adviser to the President on Media and Publicity, announced this in a statement, on Saturday. The spokesman said the broadcast would hold at 7am. The Protesters had requested that the President address the nation on the many demands they have laid out.  There is so far no insight into what the broadcast will contain and it is doubtful that Tinubu chose to address the nation because the protesters said…