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Average fuel price decreases marginally in May

Average price paid by consumers for premium motor spirit (petrol) decreased by -3.4% year-on-year and -0.6% month-on-month to N145.0 in May 2019 from N145.9 in April 2019. States with the highest average price of premium motor spirit (petrol) were Ebonyi (N146.25), Kwara (N146.14) and Niger (N146.11). States with the lowest average price of premium motor…

Inflation increases 11.40% in May 2019

The consumer price index, (CPI) which measures inflation increased by 11.40 percent (year-on-year) in May 2019. This is 0.03 percent points higher than the rate recorded in April 2019 (11.37 percent). Increases were recorded in all COICOP divisions that yielded the Headline index. On month-on-month basis, the Headline index increased by 1.11 percent in May…

We’ll move 100m Nigerians out of poverty in 10yrs – Buhari

President Muhammadu Buhari says the All Progressives Congress-led Federal Government can move 100million Nigerians out of poverty within 10 years. The president stated this in his Democracy Day address in Abuja on Wednesday. He said data bases of poor and vulnerable Nigerians as well as that of unemployed youths were being developed by the Federal…

Sanwo-Olu signs N873bn 2019 Budget into law

…Promises  Speedy Implementation Lagos State governor, Mr Babajide Sanwo-Olu on Monday signed into law the 2019 Appropriation Bill. The bill with a total budget of N873,532,460,725 is a 55% capital expenditure and 45% recurrent expenditure. Out of the amount, a sum of N393,841,387 is allocated for recurrent expenditure while N479,691,730,705 is for capital expenditure. The…

Oil tanks on fears of US, Mexico trade war

Oil prices are on track for their largest monthly decline in six months. The Trump administration exacerbated the selloff with another threat of trade escalation. Trump threatens Mexico with 5 percent tariffs. President Trump threatened to slap a 5 percent tariff on all goods imported from Mexico beginning on June 10. In a tweet, he…

Nigeria: Inflation increases 11.37% in April

The consumer price index, (CPI) which measures inflation increased by 11.37 percent (year-on-year) in April 2019. This is 0.12 percent points higher than the rate recorded in March 2019 (11.25) percent. Increases were recorded in all COICOP divisions that yielded the Headline index, reports Proshare. On month-on-month basis, the Headline index increased by 0.94 percent…

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