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Campus Drive
The Premium Bread Makers Association of Nigeria, PBAN, has revealed the reasons behind the growing cost of bread in Nigeria. The association said the majority of the ingredients used to produce bread are imported and that this has an impact on the cost of bread in Nigeria due to exchange rate volatility. PBAN’s president, Emmanuel Onuorah, said this during an interview on Global Business Report on Tuesday monitored. According to […]
The owner of the microblogging site X, Elon Musk, has made plans to charge new users for posting on the network public. According to Musk, the only way to stop the spread of bots on the site is to charge new users. In response to inquiries over the new X's policy for freshly formed accounts, he made the statement. Musk also said that following a three-month period, new users would […]
The Prices of goods and services in Nigeria have continued to soar despite the gains of the Naira against the Dollar in the foreign exchange market. According to the National Bureau of Statistics, headline inflation jumped to 33.20 per cent, and food inflation surged to 40.01 per cent in March. The implication is that Nigerians continued to pay more for food and other services in March. NBS said there is […]
Nigeria’s headline inflation rate reached 33.2 percent in March 2024. This represents a 1.5 percentage points year-on-year (YoY) increase from 31.7 percent recorded in February 2024. The National Bureau of Statistics, NBS, disclosed this today, Monday, in its Consumer Price Indices report for March 2024. The bureau also said that food inflation increased YoY by 2.09 percentage points to 40.01 percent in March from 37.92 percent in February. According to […]
The Transmission Company of Nigeria has announced the full restoration of the national electricity grid, which collapsed early Monday morning. TCN's General Manager, Ndidi Mbah, confirmed this in a statement released Monday afternoon. The collapse, attributed to a fire outbreak at the Afam power generating station, caused a significant drop in power output from 2,583.77MW to 64.7MW within a span of an hour. This incident marks the sixth grid collapse […]
The Naira has surged against the US Dollar, surpassing key resistance levels to trade below N1,000 in certain segments of the black market as of late Sunday. This rally aligns with earlier forecasts by Goldman Sachs and coincides with increased global geopolitical tensions. Economists from Goldman Sachs anticipate the Naira's bullish trend to continue, potentially driving the exchange rate below N1000 per US dollar in the coming months. This positive […]
Goldman Sachs says the continued surge of the Naira against the Dollar has made it the best-performing currency in the month of April. A report by Goldman Sachs economists said that with the appreciation rate of the Naira in the foreign exchange market, the currency may exchange below N1,000 per Dollar in the coming months. The think-tank disclosed this in its latest report on Nigeria’s economic realities. The report stated […]
Amidst ongoing dust raised by the new electricity tariff at the backdrop of inadequate power supply, electricity generation nosedived to 2,775 megawatts, MW, yesterday, a 32.3 per cent decline from 4,099.87MW recorded last week. This was contained in the data released by the Nigeria Electricity System Operator, NESO, a semi-autonomous unit of the Transmission Company of Nigeria, TCN. Information supplied by the Independent System Operator, ISO, showed that as of […]
Nigeria’s electricity supply increased by 14.64 per cent in the fourth quarter of 2023 on a year-on-year basis. This was disclosed by the National Bureau of Statistics’ latest electricity report. The report said the country’s electricity supply surged to 6,432 gigawatt-hours in Q4 2023 from 5,732gwh in the previous quarter. Also, the figure represents an increase compared to 5,611Gwh reported in Q4 2022. Meanwhile, the electricity supply has dropped drastically […]
