Inflation rate hits 18.48%, NBS blames high cost of rent

The Consumer Price Index which measures the rate of inflation in Nigeria rose by 18.48 per cent in November, figures released by the National Bureau of Statistics have revealed.

The  Consumer Price Index which measures the rate of inflation in Nigeria rose by  18.48 per cent in November, figures released by the National Bureau of Statistics have revealed. The NBS said in the CPI report for the month of November which was released on Thursday that the 18.48 per cent inflation rate is 0.15 […]

Christmas: Prices of tomatoes falls 55% in Lagos

Christmas: Prices of tomatoes falls 55% in Lagos

Ahead of Christmas celebration, prices of tomatoes and pepper have reduced by 55 per cent in most Lagos markets, a survey has showed. At Mile 12 and Iddo markets, a basket of tomatoes which previously cost N9,000 now sells for N5,000, while tatashe and chilli pepper cost N4, 500 and N4,000 respectively, as against N8,000 in […]

Oil price rises $20 above benchmark

Oil price rises $20 above benchmark

By Hamisu Muhammad & Ismail Mudashir Oil prices soared yesterday by $20/barrel above the 2016 budget benchmark and $15/barrel above the proposal made by federal government for 2017. President Muhammadu Buhari is expected to submit the 2017 estimates to the joint session of the National Assembly tomorrow. The 2016 Appropriation is based on crude oil […]

Panic as news of MMM collapse spreads among 3m Nigerians

About three million Nigerians who are participants of the MMM Ponzi scheme are in panic over the loss of their investments as the scheme froze accounts, making it impossible for members to withdraw their money.

Panic as news of MMM collapse spreads among 3m Nigerians

About three million Nigerians who are participants of the MMM Ponzi scheme are in panic over the loss of their investments as the scheme froze accounts, making it impossible for members to withdraw their money. In the early hours of Tuesday participants woke up to the shock of a one month “freezing’’ on all accounts […]

FG not turning to IMF for loan

The Ministry of Budget and National Planning has explained that the Federal Government is not looking to source any loan from the International Monetary Fund (IMF), as reported by a national newspaper on Friday. While briefing a French delegation that visited him in Abuja on Thursday, on what the Federal Government was doing to drive […]

MMM will lead to losses, Access bank warns customers

MMM will lead to losses, Access bank warns customers

Access Bank Nigeria Plc has warned its customers to avoid dealing with Mavrodi Mondial Movement, a Ponzi scheme, which has been declared illegal by the Central Bank of Nigeria and the Securities and Exchange Commission. The bank in an emailed statement to its customers said it had come to its attention “that some customers are […]

BREAKING: Buhari to ‘present N7.3 trillion budget for 2017’

BREAKING: Buhari to ‘present N7.3 trillion budget for 2017’

The federal government has proposed a budget of N7.28 trillion for the year 2017. The proposed budget represents an increase of ‎about 19.95 per cent over the 2016 Appropriation of N6.07 trillion. President Muhammadu Buhari is to present the budget on December 14 to a joint session of the National Assembly. PREMIUM TIMES sources in […]

CBN illegally funding Buhari’s government, says Sanusi

CBN illegally funding Buhari’s government, says Sanusi

Muhammad Sanusi II, emir of  Kano and former governor of the Central Bank of Nigeria (CBN), says the apex bank  is illegally lending to federal government. Sanusi also said “the problem of the current government is not having the right policies to fix the current economic woes”. Speaking at a policy monitoring dialogue hosted by […]

$30Bn Loan: You may be right but you are wrong – Presidency replies Sanusi

$30Bn Loan: You may be right but you are wrong – Presidency replies Sanusi

By Ehi Ekhator Nigerian Presidency has said that the Emir of Kano, Sanusi Lamdo Sanusi did not have his facts straight regarding a statement he made concerning the $30bn foreign loan proposed by Buhari administration. In a Statement by the Senior Special Assistant to President Muhammadu Buhari, Garba Shehu on Saturday, the Presidency, though agreed […]