Economy

The Central Bank of Nigeria on Tuesday reduced the Monetary Policy Rate by 100 basis points from 12.5 per cent to 11.5 per cent after its two-day Monetary Policy Committee meeting in Abuja. The 10 members of the committee who were in attendance voted to retain the Cash Reserve Ratio …

The National Bureau of Statistics (NBS ) has said the prices of foods rose in August 2020. Selected food price watch data for August 2020, said the Bureau, “reflected that the average price of 1 dozen of Agric eggs medium size increased year-on-year by 3.70 per cent and month-on month …

THE Central Bank of Nigeria (CBN) has announced N200 billion mortgage finance loan to Family Homes Fund (FHF). The fund is   for  the  building of 300,000 homes in the 36 states of the federation and the Federal Capital Territory.  It is also expected to  help create up to 1.5 million …

The President, Major General Muhammadu Buhari (retd.), on Tuesday justified the nation’s rising debt profile, saying his regime needed to borrow to fund critical infrastructure like roads, rail and power. According to a statement titled, ‘President Buhari justifies borrowing to fund infrastructure,’ by his Senior Special Assistant on Media and …

German Chancellor Angela Merkel is to speak with Chinese President Xi Jinping on Monday as part of high-level talks between Beijing and the European Union that should reinvigorate stalled talks on an investment pact. The EU wants to agree on a plan to wrap up the deal, according to a …

(FILES) This undated file image provided by the Kerr-Mcgee Corporation showing the Gunnison truss spar, oil platform located in the Gulf of Mexico. On the New York Mercantile Exchange (Nymex) at 1720 GMT, a barrel of “light sweet crude” for February jumped 3.48 dollars to 99.46 dollars, 02 January 2008. …

The Coalition for a Better Nigeria has urged Nigerians to show understanding with the Federal Government following the recent fuel price and electricity tariffs hike. The social-political organisation rationalised that the fuel price hike was the after effect of subsidy removal and implementation of full deregulation. However he also added …

The Federal Housing Authority (FHA) has begun the building of low and medium cost housing projects in Ibadan, the Oyo State capital. The buildings will sit on 1,000 hectares of land, named Ajoda New Town, on the Ibadan-Ife expressway. The cheapest flat in the estate will cost a little over …

The President, Major General Muhmmadu Buhari (retd.), is in a meeting with some critical stakeholders over the rising prices of food in the country. The stakeholders, including six state governors, are members of the National Food Security Council. The meeting is holding inside the Council Chamber of the Presidential Villa, …

THE Federal Government on Tuesday initiated moves to arrest the on-going strike by the National Association of Resident Doctors (NARD) and the planned strike by health workers. Minister of Labour and Employment, Dr. Chris Ngige; the Minister of Finance, Hajiya Zainab Ahmed and the Minister of Health,  Dr. Osagie Ehanire, …