Increases
Nigeria’s inflation drops to 17.93 percent
The Consumer Price Index (CPI) which measures inflation dropped to 17.93 per cent (year-on-year) in May compared to 18.12 per cent in the preceding month, according to the National Bureau of Statistics (NBS). The 0.19 per cent decline in the headline index, makes it the second consecutive month that the rate had sustained its downward trajectory after 18 months of inflationary pressures on the economy. According to the CPI figures for May which was released by the statistical agency Tuesday, food inflation dropped to 22.28 per cent from 22.72 per cent in April. Price moderation was recorded in bread, cereals, milk, cheese, eggs, fish, soft drinks, coffee, tea and cocoa, fruits, meat, oils and fats and vegetables. On month-on-month basis, the food sub-index declined to 1.05 per cent in May ...
Pope says Canada school discovery painful, but stops short of apology
Pope Francis said on Sunday that he was pained by the discovery of the remains of 215 children at a former Catholic school for indigenous students in Canada and called for respect for the rights and cultures of native peoples. However, Francis stopped short of the direct apology some Canadians had demanded. Two days ago, Canadian Prime Minister Justin Trudeau said the Catholic Church must take responsibility for its role in running many of the schools. Indigenous leaders and school survivors said the Church needed to do much more. “We’re all pained and saddened. Who isn’t?” said Bobby Cameron, chief of the Federation of Sovereign Indigenous Nations in Saskatchewan. Speaking to pilgrims and tourists in St. Peter’s Square for his weekly blessing, Francis urged Canadian political and Catholic...
NASU: Decision to reduce civil servants salaries ’provocative’
File Photo The Non-Academic Staff Union of Educational and Associated Institutions (NASU) says plan by the Federal Government to slash salaries of Federal civil servants is “provocative’’. NASU made this known in a statement by its General Secretary, Mr Peters Adeyemi on Sunday in Abuja. It will be recalled that Mrs Zainab Ahmed, the Minister of Finance, had given the hint on May 4, at the National Policy Dialogue on Corruption and Cost of Governance in Nigeria, organised by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) in Abuja. Ahmed said during the dialogue that the review of salaries of civil servants and some federal agencies were part of measures to reduce cost of governance. She said the National Salaries, Incomes and Wages Commission (NSIWC) had bee...
Minister: Nigeria needs N1.89 trillion to eradicate malaria
The federal government has said that it will require N1.89 trillion to successfully implement the new five-year strategic plan aimed at eradicating malaria in Nigeria. It said that about N352 billion out of the amount is required for the year 2021 programme implementation. In his address to mark this year’s World Malaria Day, the Minister of Health, Dr. Osagie Ehanire, said the target set out in the National Malaria Strategic Plan of 2021 to 2025 is to achieve less than 10 per cent parasite prevalence and reduction in mortality attributable to malaria to less than 50 deaths per 1,000 live births by 2025. He said: “The implementation of the New Strategic Plan will cost N1.89 trillion. About 63.1% of the total amount will be used to support Chemoprevention, diagnosis and treatment, while 35....
Analysts: Printing currency could hurt economy
Analysts have expressed concerns over a recent claim that the federal government resorted to printing money to augment the monthly allocation to the three tiers of government, warning that it could heighten inflationary pressure with dire consequences for the country’s exchange rate and economy. The analysts, in separate interviews with newsmen, warned that a sustained policy of printing the currency, if not well managed, would hurt the economy. The concern came on the heels of recent revelation by Governor of Edo State, Mr. Godwin Obaseki, that due to the dwindling revenue in the face of declining oil revenue arising from the growing sources of alternative sustainable energy, the federal government had to print money to augment the amount available for sharing by the federal, state and lo...
Nigeria’s inflation rate hits 17.33 percent
The consumer price index, which measures the rate of increase in the price of goods and services, increased to 17.33 percent in February. This is the highest point since April 2017. According to the CPI/Inflation report released by the National Bureau of Statistics (NBS) on Tuesday, the food inflation stood at 21.79 percent, the highest point since the 2009 data series began. According to the NBS, food inflation also grew by 21.79 percent year-on-year compared to 20.57 percent recorded in January. The headline inflation for month-on-month also increased to 1.89 percent from 1.83 percentage points. It explained that the upward movement in food inflation was caused by increases in the prices of bread, cereals, fish, potatoes, yam and other tubers, vegetables, meat, oils and fats, fruits and ...
NCDC: Nigeria records 13 cases of UK coronavirus variant
The Nigeria Centre for Disease Control (NCDC) said it has found six more cases of the B.1.1.7 COVID-19 variant in the country. This brings the total number of people who have tested positive to the variant in Nigeria to 13. The B.1.1.7 COVID-19 variant was first detected in the United Kingdom and has since spread to other parts of the world. The Director-General of NCDC, Chikwe Iheakwazu, while speaking at the Presidential Task Force (PTF) on COVID-19 briefing on Monday, said the six new cases were detected in Lagos State by scientists at the Africa Centre of Excellence for Genomics of Infectious Diseases (ACEGID), at the Redeemers University in Ede, Osun State. “Last week we detected six additional samples of the B.1.1.7 variants in Lagos state,” Mr Ihekweazu said. “We already have five c...
Nigerian government meets labour over fuel price, electric tariff hike
The Federal Government on Monday resumed its meeting with the organised Labour over the issues of increases in the pump price of petrol and electricity tariff hike. The meeting had been adjourned in December last year, with hopes that it will be reconvened earlier in 2021. Dr Chris Ngige, the Minister of Labour and Boss Mustapha, the Secretary to the Government of the Federation (SGF), are the two ministers representing the federal government at this meeting. At the opening of the meeting, Dr Ngige said the government’s side of the bargain has received reports from the committee set up to look into some of the demands of the labour movements. Similarly, Boss Mustapha also noted that the committees set up last year will be presenting their findings during the meeting. The SGF also assured t...
PTF: Nigeria records four cases of UK coronavirus variant strain
Mr Boss Mustapha, Chairman, Presidential Task Force (PTF) on COVID-19 and Secretary to the Government of the Federation, said Nigeria recorded four cases of COVID-19, B117 variant strain, first reported in the UK. The PTF chairman made the disclosure at national briefing on Monday in Abuja. Mustapha said; “over the last few weeks, the PTF had been closely following the rising number of infections reported daily in Nigeria and in other jurisdictions. “Similarly, our scientists have been sequencing the variants of the virus. “There have been reports of cases with the B117 variant strain first reported in the UK, found in Nigeria. Three of these were in travelers out of Nigeria and one in a resident,”. He also stated that the daily statistics for Nigeria as at January 24, 2020 showed that cas...
World Bank predicts 4% global economic growth, 1.1% for Nigeria in 2021
ABS-CBN The World Bank says global economy is expected to grow by 4 per cent in 2021, assuming an initial COVID-19 vaccine rollout becomes widespread throughout the year. It said this in a statement issued in Washington D.C. on Tuesday at the presentation of the January 2021 Global Economic Prospects. It added that the said recovery would likely be subdued unless policy makers moved decisively to tame the pandemic and implement investment-enhancing reforms. The bank also said that growth in Sub-Saharan Africa was forecast to rebound moderately to 2.7 per cent in 2021, while Nigeria’s growth was expected to resume at 1.1 per cent. For the region, it said that while the recovery in private consumption and investment was forecast to be slower than previously envisioned, export growth was expe...
NLC rejects hike in petrol pump price
Nigeria Labour Congress, NLC, Monday, rejected the fresh hike in the pump price of Premium Motor Spirit, PMS, commonly known as petrol, which took effect last Friday, demanding for immediate reversal. The post NLC rejects hike in petrol pump price appeared first on TODAY. You Deserve to Make Money Even When you are looking for Dates Online. So we reimagined what a dating should be. It begins with giving you back power. Get to meet Beautiful people, chat and make money in the process. Earn rewards by chatting, sharing photos, blogging and help give users back their fair share of Internet revenue.
Minister: Broadband subscriptions increased by 4,061,731 in October
Home Telecom Broadband penetration in Nigeria increased to 45.43 per cent by the end of October 2020, the Federal Government announced on Wednesday. Minister of Communications and Digital Economy, Isa Pantami, said the rise was due to an increase of 4,061,731 broadband subscriptions between September and October 2020. He said the implementation of the National Digital Economy Policy led to the rise in broadband subscriptions across the country during the review month. Pantami, who disclosed this in a statement issued in Abuja by his Technical Assistant, Information Technology, Femi Adeluyi, observed that the Nigerian National Broadband Plan 2020-2025 had impacted significantly on broadband penetration. The minister noted that the plan was implemented alongside the harmonisation of Right-of...
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