President Muhammadu Buhari has unveiled the rice pyramids in Abuja to mark the annual rice festival. During the ceremony, President Buhari said his administration has initiated different policies to diversify the economic through agriculture. The President said the unveiling of the rice pyramids was an indication that the country is making progress in food security. Also speaking,…
The National Bureau of Statistics says Nigeria’s annual inflation rate increased in December last year, after going down eight months earlier. Figures released by the NBS shows that the inflation rose to fifteen point six-three in December, 2021, from fifteen points four-zero in November of the same year. It says the increase is partly due to the…
The World Bank has projected a 2.5 percent economic growth for Nigeria in 2022, and two point eight per cent in 2023. The 2022 forecast is higher than the estimated two-point four percent growth in 2021. The World Bank in its latest Global Economic Prospects report, disclosed that higher oil prices and activities in the telecommunications sector…
Professor of economics, Professor Pat Utomi, has described the year 2021 as very challenging time for Nigeria. Professor Utomi says insecurity, inflation, lack of trust in the polity, and ineffective leadership were some of the problems that made the past year difficult. However; the Chairman of the National Consultative Forum said there is hope for a turnaround…
President Muhammadu Buhari has appointed Doctor Doyin Salami as his Chief Economic Adviser. The Special Adviser to the President on Media and Publicity, Femi Adesina disclosed this in a statement. Adesina also disclosed that the new Chief Economic Adviser is expected to address all issues on the domestic economy and present views on them to the President…
The Federal Executive Council has approved sixty-five point three billion naira to execute power projects in the country. The Minister of Power, Abubakar Aliyu, disclosed this to State House Correspondents at the end of an extraordinary meeting of FEC presided over by Vice President Yemi Osinbajo at the Presidential Villa, Abuja. He said the extraordinary session was…