Author: Gbenga Oluranti Olaleye

Seventeen state governors have raised committees to implement the N70,000 new minimum wage for workers nationwide. The states involved include Ogun, Ekiti, Sokoto, Kebbi, Osun, Enugu, Borno, Zamfara, Kogi, Kwara, Gombe, Kano, Taraba, Delta, Rivers, Jigawa, and Abia. This development coincides with the Federal Government’s recent initiation of payments for the new minimum wage to its 1.2 million employees, starting last Thursday. The Accountant General of the Federation, Oluwatoyin Madein, confirmed that civil servants will receive the new wage effective from September. Several states, including Edo, Lagos, and Adamawa, have already begun disbursing the new salary. Notably, Adamawa’s Governor Ahmadu…

The Central Bank of Nigeria (CBN) has announced a substantial increase in credit to the Federal Government, which surged by N11.33 trillion, or 57.11%, in August, bringing the total to N31.15 trillion from N19.83 trillion in July. This rise is detailed in the latest Money and Credit Statistics released by the CBN, highlighting a trend of fluctuating borrowing across the three tiers of government in recent months. In June, the credit extended to the government was recorded at N23.93 trillion, up from N19.98 trillion in April but lower than the peak of N28.38 trillion in May. The first quarter of…

The Bank of Industry (BoI) has underscored the urgent need for Nigeria to enhance its production capacity in order to achieve a one trillion-dollar economy by 2026. This assertion was made by Isa Omagu, Divisional Head of Services at BoI, during the 2024 annual conference of the Finance Correspondents Association of Nigeria, themed “Nigeria’s Journey Towards a $1 Trillion Economy: Impact of Banks’ Re-capitalisation, Opportunities for Fintechs and Real Sector.” Omagu emphasized that Nigeria’s economy currently relies heavily on fiscal and monetary policies, urging for a synergistic collaboration between both sectors. He warned that the country’s existing production levels are…

The Federal Government is accelerating its efforts to implement e-government systems aimed at enhancing productivity and providing more accessible services to citizens. This initiative was a focal point at the recent e-Government Summit held in Lagos, where officials from the Nigerian Communications Commission (NCC), the National Information Technology Development Agency (NITDA), and industry experts discussed the critical need for improved connectivity to bolster governance. The renewed commitment to e-government comes on the heels of the July unveiling of the 1Government Cloud Software by Galaxy Backbone, a cloud-based solution designed to integrate infrastructure and software services for secure data storage and…

The Federal Government has reaffirmed its dedication to supporting micro, small, and medium enterprises (MSMEs) through a series of tax incentives designed to foster growth and sustainability within the sector. This commitment was articulated by Zacch Adedeji, Executive Chairman of the Federal Inland Revenue Service (FIRS), at the inaugural MSME Finance Awards organized by The Economic Forum Series in collaboration with Nairametrics and DigiComm Enterprise. Represented by his special adviser, Collins Omokaro, Adedeji outlined the government’s focus on creating a conducive environment for MSMEs. “The Federal Government, through FIRS, has introduced reforms to ease the financial burden on small businesses,”…

Lionel Messi scored a brilliant equalizer as Inter Miami battled to a 1-1 draw against Charlotte FC in a tightly contested match on Saturday. The result marked Miami’s third consecutive draw, but they maintained their position at the top of the Eastern Conference as the playoff race heats up. Charlotte took the lead in the 57th minute with a deflected goal that caught Miami’s defense off guard. However, Messi quickly responded, finding the net with a precise left-footed strike, bringing his season tally to 15 goals. His timely equalizer energized the team and the traveling fans, who have come to…

Beirut, Lebanon- Prime Minister Najib Mikati has raised alarms over the escalating humanitarian crisis in Lebanon, revealing that recent Israeli attacks may have displaced up to one million people. This alarming figure represents roughly one-sixth of Lebanon’s total population and marks the country’s worst displacement crisis in decades. The situation has intensified following the death of Hezbollah leader Hassan Nasrallah, which has exacerbated fears of further regional instability. In his address to the nation, Mikati emphasized the urgent need for international support, stating, “We are witnessing a humanitarian catastrophe that we have not seen before. Our people are suffering, and…

Rights activist Deji Adeyanju has issued a stark warning ahead of the planned October 1 protests, suggesting that the government may resort to forceful measures to suppress dissent. Drawing parallels to previous violent crackdowns, Adeyanju urged Nigerians to remain resolute in their demonstrations against the prevailing economic hardships and rampant corruption plaguing the nation. In a statement released on social media, Adeyanju emphasized the critical need for citizens to assert their rights, despite the looming threat of arrest and violence. “The issues we face high fuel prices, crippling economic conditions, and pervasive corruption demand our urgent attention,” he stated. “We…

The Presidency has reiterated its support for the stance of Honourable Minister for Petroleum Resources, Senator Heineken Lokpobiri, regarding the ongoing pricing dispute between the Nigerian National Petroleum Company Limited (NNPCL) and Dangote Refinery. In a statement released on Friday, September 27, by Nnaamaka Okafor, Special Assistant to the Minister, the government clarified that it cannot intervene in this matter as both entities are private enterprises operating within a deregulated market. The statement followed remarks made by Lokpobiri after a recent meeting with Vice President Kashim Shettima. The minister had indicated that petrol prices could vary by location, but emphasized…

A former Minister of Communications, Adebayo Shittu, has urged President Bola Tinubu to exercise caution when relying on his inner circle for recommendations regarding ministerial appointments. His comments come amidst reports of a potential cabinet reshuffle. The Oyo-born politician made the remarks during an appearance on Channels Television’s Politics Today program on Thursday, September 26. He emphasized the importance of critically evaluating those who influence ministerial selections, warning that some members of the President’s “kitchen cabinet” may have vested interests that could cloud their judgment. “You cannot trust anybody, even if you are talking of the kitchen cabinet,” Shittu stated. …