Amaka Azubuike

Government Clarifies New Forty Per Cent Pay Rise

Government Clarifies New Forty Per Cent Pay Rise

The Federal Government has moved to correct the narrative regarding a purported 40 per cent peculiar allowance for all civil servants. This clarification follows widespread reports suggesting a fresh blanket salary increase for the entire workforce. Official statements confirm that the allowance in question is not a new development but an existing intervention for specific…

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Nigerians consume 1.53bn litres of petrol in April – NMDPRA

Nigerians consume 1.53bn litres of petrol in April – NMDPRA

Nigeria consumed 1.53 billion litres of petrol in April, as the Dangote Refinery cemented its status as the nation’s primary fuel source. Data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) shows that daily consumption averaged 51.1 million litres. This volume highlights a significant reliance on a single private entity for energy security….

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Regulator Imposes N100 Million Foreign Exchange Fines

CBN Pushes States to Cut Overdraft Reliance

The Central Bank of Nigeria has ordered state governments to end their addiction to overdrafts and short-term loans. This fiscal recklessness now threatens the bank’s planned shift to a rule-based inflation-targeting framework. Deputy Governor Muhammad Abdullahi warned state officials on Sunday that expansionary spending at the sub-national level blunts the edge of monetary policy. States…

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The Local Currency Bond Shift: Can the Capital Market Rescue Real-Sector Debt?

Private Sector Credit Hits Record N94.6tn – CBN

Nigeria’s banking system is expanding at a breakneck pace that defies traditional economic logic. Credit to the private sector reached a record N94.61tn in February. Simultaneously, government borrowing climbed to N39.36tn. Usually, heavy state borrowing crowds out private companies. Today, both are feasting on bank balance sheets at the same time. This dual surge suggests…

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World Bank Approves $1.25bn Nigeria Loan Despite Backlash

World Bank Funds N300m Livestock Laboratory at MOUAU

The Michael Okpara University of Agriculture, Umudike (MOUAU) in Abia State is set to become a hub for livestock innovation following a ₦300 million investment from the World Bank. The funding, provided through the Livestock Productivity and Resilience Support Project (L-PRES), is dedicated to establishing an Animal Feed Reference Laboratory. This initiative aims to modernize…

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