Imported Inflation: A Rising Storm for Price Stability in Nigeria – Insights from MPC Member
In the complex web of global economics, one issue is casting a long shadow over Nigeria’s economic outlook – imported inflation. For a country already grappling with high inflation rates, this external economic pressure adds a new layer of complexity to the government’s efforts to stabilize the economy.
The Crucial Mandate: Oil Firms Face Export Permit Risks Unless Local Refineries Are Supplied
The Nigerian oil sector, one of the country’s most vital economic pillars, is currently facing a pivotal challenge that could reshape the dynamics between oil firms and local refineries. The National Upstream Petroleum Regulatory Commission (NUPRC) has recently issued a stern warning to oil companies operating in the country: supply the nation’s refineries with a sufficient amount of crude oil, or face the revocation of their export permits. This move is indicative of the regulatory body’s commitment to ensuring that Nigeria’s refining capacity is revived, a crucial step toward reducing the nation’s over-reliance on fuel imports.
Securing Trust in Nigeria’s Banking System: NDIC Partners with ICAN to Boost Deposit Insurance Awareness
In a groundbreaking development for Nigeria’s financial landscape, the Nigeria Deposit Insurance Corporation (NDIC) has endorsed a new deposit insurance module as part of the Institute of Chartered Accountants of Nigeria (ICAN) curriculum.
Plateau Taskforce Foils Child Trafficking Plot: Two Children Rescued, Suspect Arrested
In a significant development that has once again highlighted the ongoing issue of human trafficking in Nigeria, the Plateau State Taskforce on Human Trafficking recently intercepted two children who were being trafficked from northern Nigeria to Lagos. The authorities managed to apprehend a suspect believed to be involved in the illegal transportation of these children, raising important questions about the complex nature of human trafficking and the measures being taken to address this growing concern.
Hunger Crisis: President Tinubu Faces Growing Calls to Review Food Import Waiver Policy
In recent months, Nigeria has faced a sharp rise in food prices, leading to significant hardship for millions of its citizens. This increase in food costs has exacerbated an already troubling situation, leaving many Nigerians struggling to afford basic staples. Amid these rising challenges, there is growing pressure on President Bola Ahmed Tinubu’s administration to revisit its food import waiver policy, which many critics argue may be contributing to the nation’s food insecurity.
Nigerian Telcos Demand 100% Tariff Increase: Will NCC Approve the Skyrocketing Hike?
The country’s telecom giants, including MTN, Airtel, Glo, and 9mobile, have made an unprecedented push for a 100% increase in service tariffs. But the real question on the minds of millions of Nigerians is: Will the Nigerian Communications Commission (NCC) approve this tariff hike?
Navigating Nigeria’s Tax Reform Crisis: A Suspended Reality
Tax reform has always been a sensitive and pivotal aspect of governance in Nigeria. For a country teeming with vibrant entrepreneurs, a growing middle class, and industries brimming with potential, the conversation about taxes and how they should be levied, collected, and utilized often draws sharp scrutiny.
Breaking the Silence: A Call for Action and Accountability in Tackling Gender-Based Violence in Nigeria
Gender-Based Violence (GBV) in Nigeria is not merely a legal concern—it is a profound national crisis that affects the heart and soul of the nation.
Port Harcourt’s Hopes Dashed Again: The Shocking Halt of Refinery Operations Days After Resumption
The Port Harcourt Refinery, which had been silent for years, was set to restart its operations, sending a wave of optimism across the country. Citizens, the business community, and even oil workers breathed a collective sigh of relief, believing that the long-awaited promise of self-sufficiency in fuel production was finally within reach.
Supreme Court Voids National Lottery Act: A Triumph for State Sovereignty Over Games of Chance in Nigeria
In a historic and groundbreaking ruling that has sent waves through the Nigerian legal and political landscape, the Supreme Court has struck down the National Lottery Act, affirming the exclusive rights of states to regulate and control games of chance within their borders.
