Nigeria drops to fourth place in Africa’s economy ranking » In a significant development reflecting the shifting economic landscape of Africa, Nigeria, once hailed as the continent’s economic powerhouse, has slipped to fourth place in terms of GDP size. This development underscores a broader trend reshaping the economic dynamics of the region. Recent data released by the International Monetary Fund (IMF) reveals that Nigeria’s GDP has fallen behind those of Egypt, South Africa, and Algeria, marking a notable decline from its previous position as Africa’s largest economy. While Nigeria had hel ..read more

Why naira appreciation is yet to have impact on the prices of goods – Expert » In a recent analysis of Nigeria’s economic landscape, experts have shed light on the complex relationship between currency exchange rates and consumer prices. Despite the recent appreciation of the Naira against foreign currencies, consumers have yet to see a corresponding reduction in the prices of goods and services. This phenomenon has prompted economists to delve deeper into the underlying factors influencing this disconnect. Dr. Adeola Adenikinju, a prominent economist and professor at the University of Ibadan ..read more

Tariff Hike: FG Appeals to Workers as Electricity Union Insists on Strike » In a standoff between the Nigerian government and the electricity union, the Federal Government (FG) is pleading with workers to reconsider their decision to go on strike following the recent tariff hike in the power sector. Despite the government’s appeal, the electricity union remains resolute in its stance, demanding a reversal of the tariff increase. The tariff hike, which came into effect on April 1, has been a subject of intense debate and controversy. The government argues that the increase is necessary to att ..read more

Nigeria’s Oil Production falls again to 1.23mbpd – OPEC » Nigeria’s oil production has experienced a significant decline, falling to 1.23 million barrels per day (mbpd) according to recent data released by the Organization of the Petroleum Exporting Countries (OPEC). This drop reflects ongoing challenges within Nigeria’s oil sector, impacting the country’s economic outlook and global oil market dynamics. The latest figures from OPEC reveal a notable decrease in Nigeria’s oil output, highlighting persistent obstacles faced by the nation’s energy industry. This decline marks a setback for Niger ..read more

Naira now world’s best performing currency- Goldman Sachs » In recent financial news, Goldman Sachs, a leading global investment bank, has made a noteworthy prediction regarding the Nigerian Naira, suggesting that it could outshine other currencies worldwide. This forecast comes amid evolving economic dynamics and market conditions. Goldman Sachs’ analysis centers around key factors shaping the currency landscape. They project that the Naira’s value could strengthen relative to other currencies, which could be attributed to a variety of economic and geopolitical considerations. This significa ..read more

Ibadan Kingmakers Select Olakulehin as 43rd Olubadan » In a momentous decision, the kingmakers of Ibadan have chosen Olakulehin to become the 43rd Olubadan. This announcement marks a significant milestone in the traditional leadership of the city, following a thorough selection process conducted by the council of chiefs. The Olubadan stool became vacant as a result of the death of the 42nd holder of the title, Oba Mahood Olalekan Balogun, who joined his ancestors last month. The Olubadan-in-Council met at Mapo Hall on Friday to nominate Olakulehin and the nomination was ratified by all the me ..read more

How to Apply: MTN Champ Competition Season 2 » The MTN Foundation CHAMPS Program provides a platform for gifted young Nigerians from every region of the country to exhibit their abilities and undergo training. MTN CHAMPS, operating within Nigeria, is dedicated to uncovering and nurturing athletic talent nationwide. The objective of the MTN Champ Competition for Young Nigerians is to uncover and nurture athletic potential with the goal of revolutionizing the sports scene in Nigeria. About MTN Champs MTN CHAMPS is an exciting track and field contest designed to unearth exceptional athletes from ..read more

Dangote Diesel Pricing Sparks Debate as Marketers Suggest N850 per Liter » The issue surrounding Dangote’s diesel price has sparked considerable controversy, particularly as marketers have suggested a rate of N850 per liter. This development has raised significant concerns within Nigeria’s fuel industry and among the public at large. Dangote Group’s decision to set its diesel price at this level has brought attention to broader issues in Nigeria’s fuel market. The proposed rate by marketers is considerably higher than the prevailing price, which typically ranges lower. This discrepancy has fu ..read more

CBN Drives Down US Dollar Rate to N1,101/$1, Allocates $15.88 Million to BDCs » In a significant move aimed at stabilizing the foreign exchange market, the Central Bank of Nigeria (CBN) has managed to push the exchange rate of the US dollar to N1,101 against the naira. This strategic intervention by the apex bank is coupled with an allocation of $15.88 million to meet the growing demand for foreign currency within the economy. The latest development underscores the CBN’s commitment to managing the exchange rate dynamics amidst economic uncertainties and global currency fluctuations. The move ..read more

Fire Service Recruitment: Requirements And How To Apply » Fire Service Recruitment: The Federal Fire Service is an arm of the Nigerian civil service with the mandate of reducing fire outbreak through training of firefighters and deployment of new firefighting equipment and public enlightenment across the Country. Their mission is to ensure safety of lives and properties by extinguishing, control and prevention of fire outbreak. Just like medicine and nursing, joining the fire service is also a noble career choice that involves saving of lives, serving and protecting communities during emergen ..read more