The Central Bank of Nigeria (CBN) has increased its Monetary Policy Rate (MPR) to 27.25%.According to a statement, the decision was made during the Monetary Policy Committee (MPC) meeting chaired by CBN Governor, Yemi Cardoso on Tuesday.In July 2024, the CBN raised its MPR by 800 basis points to 26.75 percent, up from 13 percent in May 2022. Stressing that the move will help improve confidence, and enable economic agents…

The United States Government has commended the Saturday governorship election of Edo State, praising the people of the state over their peaceful conduct during the polls.The US also commended Governor Godwin Obaseki for his appeal for peace in the aftermath of the election.This was disclosed in a statement signed by Ambassador Richard Mills Jr., United States Ambassador to Nigeria on the Embassy’s website, which read, “The U.S. Mission in Nigeria…

Vice President Kashim Shettima announced that the United States Chamber of Commerce has committed $320 million in investments to support mortgage refinancing and the funding of small and medium enterprises (SMEs) in Nigeria. Mr Shettima shared the news on his X page Tuesday, reaffirming President Bola Tinubu’s commitment to fostering an investor-friendly environment in the country. Representing President Tinubu at the 79th session of the United Nations General Assembly (UNGA)…

The All Progressives Congress (APC) has rebuked civil society organisation Yiaga Africa for questioning the results of the recently concluded Edo State Governorship election. Yiaga Africa, one of the accredited observers for the election, claimed that the poll failed to meet integrity standards due to widespread manipulation. In a post-election statement co-signed by Dr Aisha Abdullahi, Chair of the 2024 Edo Election Mission, and Samson Itodo, Executive Director of Yiaga…

A National Bureau of Statistics (NBS) survey for the first quarter of 2024 has indicated that Nigeria’s unemployment rate in the first quarter of 2024 rose to 5.3 percent, a 0.3 percent points increase from 5.0 percent in the third quarter of 2023.According to the report, released on Tuesday, the unemployment rate for males stood at 4.3 percent, while females experienced a higher rate of 6.2 percent.The NBS defines underemployment…

Africa’s richest man, and the President and Chief Executive of Dangote Group, Alhaji Aliko Dangote, has called on the Federal Government to put an end to fuel subsidies completely now.In an interview with Bloomberg Television in New York on Monday, Dangote said the government should immediately end all fuel subsidies, adding that the removal would help determine the actual petrol consumption in the country.Dangote further noted that ending petrol imports…

Osun State Governor Ademola Adeleke has approved a new working schedule for different categories of civil servants, alongside a two-month extension for the distribution of palliatives to public servants. In a statement issued on Tuesday, Governor Adeleke’s spokesperson, Mallam Rasheed, explained that the adjustments were made in response to the rising cost of transportation. According to the statement, the decision was outlined in a circular from the Office of the…

Osun State Governor, Ademola Adeleke, has sworn in the newly appointed Chairman of the Governing Council for Osun State College of Education, Ila-Orangun (OSCE). The state government, in a statement shared on its official X page on Monday, emphasised the ceremony’s significance, which was held at the Executive Council Chambers Lounge of the Governor’s office. The statement added that the event underscored the institution’s critical role in advancing education within…

An Embraer ERJ 145 aircraft operated by Air Peace Airlines, having among its passengers, Omoyele Sowore, suffered a potentially hazardous malfunction when its windshield shattered as it descended into the Nnamdi Azikiwe International Airport in Abuja on Monday.It was, however, learnt that the plane, which had departed from Akure in Ondo State at 8:30 am, landed at 9:40 am without further incident.Sowore, a pro-democracy campaigner and former presidential candidate of…

The People’s Democratic Party (PDP) candidate in the just-concluded EdoState Governorship election, Asue Ighodalo, has opened up on his next lineof action.The New Daily Prime earlier reported that the Independent NationalElectoral Commission (INEC) declared the All Progressives Congress (APC)candidate, Monday Okpebholo, as the winner of the election.According to INEC, Mr Okpebholo secured 291,667 votes, defeating PDP’sMr Ighodalo, who polled 247,274 votes, while Labour Party’s OlumideAkpata came in third.Mr Ighodalo, in…

Barely 24 hours after Senator Monday Okpebholo of the All Progressives Congress (APC) was declared winner of the Saturday Edo State governorship election by the Independent National Electoral Commission (INEC), the Peoples Democratic Party (PDP) has vowed to go to court to retrieve its ‘stolen mandate.’The party’s position was announced by PDP acting National Chairman, Umar Damagum at a briefing in Abuja, where he charged the people of the state…

The Chairman of the United Bank for Africa (UBA), Mr Tony Elumelu is to head the Disaster Relief Fund recently established by the Federal Government to address national disasters like flooding. Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, announced the birth of the Fund to State House correspondents at the State House, Abuja, at the end of the Federal Executive Council (FEC) meeting presided over…