Economy

ACCI warns of looming economic crises amid fuel hike

The Abuja Chamber of Commerce and Industry (ACCI) has issued a grave warning regarding the recent surge in fuel prices, highlighting its potential to precipitate severe economic turmoil. ACCI President Emeka Obegolu expressed concerns that this increase could have extensive…

Governance cost surge by N900bn

As Nigerians call for reduced governance costs, the 2024 personnel expenditure for Nigeria’s 36 states has reached N2.76 trillion, This represents an increase from N2.26 trillion in 2023, marking an addition of approximately N901.88 billion over two years, with N501.16…

Fiscal responsibility central to economic growth – FRC boss

Mr. Victor Muruako, Executive Chairman of the Fiscal Responsibility Commission (FRC), emphasized the importance of effective public procurement processes and fiscal responsibility as crucial elements for achieving sustainable economic growth. He made these remarks on Tuesday in Abuja during a…

Naira weakens in parallel market

On Tuesday, the Naira depreciated to N1,600 per dollar in the parallel market, a decline from the N1,590 per dollar observed over the weekend. In contrast, the Naira showed a positive trend in the Nigerian Autonomous Foreign Exchange Market (NAFEM),…