You are here
Home > ECONOMY

Border close in Nigeria takes toll on commodities’ prices

The closure of Nigeria’s borders by the Federal Government continues ti take its toll on prices of basic commodities. The National Bureau of Statistics (NBS), said in its report that headline inflation rose for the first time in three months in September, advancing by 22bps to 11.24% YoY to beat Bloomberg consensus estimate of 11.00%…

Nigeria: Inflation rises 11% -NBS

The consumer price index, (CPI) which measures inflation increased by 11.24 percent (year-on-year) in September 2019. This is 0.22 percent points higher than the rate recorded in August 2019 (11.02) percent. Increases were recorded in all COICOP divisions that yielded the Headline index, a report in Proshate states. On month-on-month basis, the Headline index increased…

Be ready to hold your leaders accountable, Omo-Agege tells Nigerians

Sen. Ovie Omo-Agege, Deputy Senate President, on Friday, called on Nigerians to be ready to hold their leaders accountable to ensure good governance. Omo-Agege made the call in Abuja at the 10th Annual Independence Lecture titled: “Social Contract and Leadership in Nigeria: Experience and Prospect.’’ The event was organised by The Change We Need Nigeria…

Senate revisits bill to establish N’Assembly budget office

The Senate on Thursday reintroduced a bill seeking to establish the National Assembly Budget and Research Office (NABRO). The bill, which was passed by the 8th Senate on May 3, 2019, however, failed to receive assent by President Muhammadu Buhari. The move seeking to establish the National Assembly Budget office was first conceived in 2005…

2020 Budget: Senators commend Buhari for adherence to Fiscal Responsibility Act

…Senate adjourns debate on 2020 Budget till next week Tuesday Senators belonging to the All Progressive Congress (APC) and Peoples’ Democratic Party (PDP) on Thursday commended President Muhammadu Buhari for adhering strictly to the provisions of the Fiscal Responsibility Act by ensuring the timely submission of the 2020 Appropriation Bill to the National Assembly. The…

Nigeria: Inflation rises in September

Inflation in Nigeria in September is likely to spike to 11.22%, says the National Bureau of Statistics. This is coming after three months of consecutive decline. This spike in the general price level would be driven partly by the closure of the Seme border which has resulted in shortages of smuggled commodities especially rice, turkey,…

Senate begins debate on 2020 Appropriation Bill

The Senate on Wednesday commenced debate on the 2020 Appropriation Bill presented to the National Assembly by President Muhammadu Buhari. Buhari on Tuesday presented a budget estimate of N10.33 trillion for the year 2020 at a joint sitting of the National Assembly. The debate on the appropriation bill, which continues on Thursday, had senators making…

Senate begins Production Sharing Contract Act amendment

The Senate on Tuesday commenced move to amend the Production Sharing Contract Act, following consideration of a bill to that effect. The bill titled “Deep Offshore and Inland Basin Production Sharing Contract 2004 (amendment) Bill 2019” passed the second reading on Tuesday. It was consequently referred to the Senate Committees on Petroleum (Upstream) and Finance…

Full text of Buhari’s budget speech

2020 BUDGET SPEECH: Budget of Sustaining Growth and Job Creation   Delivered By: His Excellency, Muhammadu Buhari President, Federal Republic of Nigeria At the Joint Session of the National Assembly, Abuja  Tuesday, October  8, 2019 PROTOCOLS 1.            I will start by asking you to pardon my voice. As you can hear, I have a cold as a…

Top