...news, reports, issues... about Lagos
Despite being commonly perceived as heavily indebted, Nigeria has been ranked as the second least indebted African country by the International Monetary Fund (IMF). This ranking emphasizes the significance of metrics such as the debt-to-GDP ratio in assessing a nation’s financial health. Lower ratios indicate stability, while higher ratios raise concerns about debt sustainability. Tanzania’s […]
The federal government’s wage bill will almost double at the very least if the organised labour doubles down on an unrealistic push for a 20-fold increase in the minimum wage. With the proposed minimum wage of N615,000, the government’s personnel costs for 1.5 million workers will rise from about N7 trillion which it currently stands […]
Independent petroleum marketers have expressed concern over the rising price of Premium Motor Spirit, PMS, otherwise known as petrol, in private depots to N710 per litre. With the increase, petrol pump prices at outlets operated by independent marketers also rose to between N730 and N750 per litre which has led to queues at some stations […]
The average price of imported food commodities to Nigeria rose to its highest level, reaching 34 per cent in one year between April 2023 and April 2024. This represents an increase of 200 basis points from 32 per cent recorded in March 2024, according to an analysis of the Consumer Price Index report released by […]
Having depreciated to N1,478.11 to the dollar on Monday, the value of the naira continued its downward slide on Tuesday at the Nigeria Foreign Exchange Market (NAFEM) and at the parallel market closing at N1,520.40 to the dollar at the official end of the market. https://googleads.g.doubleclick.net/pagead/ads?gdpr=0&us_privacy=1—&gpp_sid=-1&client=ca-pub-5228780540891921&output=html&h=280&adk=3908584181&adf=3002841736&w=758&abgtt=6&fwrn=4&fwrnh=100&lmt=1715803569&num_ads=1&rafmt=1&armr=3&sem=mc&pwprc=4671932670&ad_type=text_image&format=758×280&url=https%3A%2F%2Fleadership.ng%2Fnaira-weakens-further-to-n1520-at-nafem%2F&fwr=0&pra=3&rh=190&rw=757&rpe=1&resp_fmts=3&wgl=1&fa=27&uach=WyJXaW5kb3dzIiwiMTAuMC4wIiwieDg2IiwiIiwiMTI0LjAuNjM2Ny4yMDEiLG51bGwsMCxudWxsLCI2NCIsW1siQ2hyb21pdW0iLCIxMjQuMC42MzY3LjIwMSJdLFsiR29vZ2xlIENocm9tZSIsIjEyNC4wLjYzNjcuMjAxIl0sWyJOb3QtQS5CcmFuZCIsIjk5LjAuMC4wIl1dLDBd&dt=1715803569099&bpp=4&bdt=3889&idt=4&shv=r20240513&mjsv=m202405140101&ptt=9&saldr=aa&abxe=1&cookie=ID%3D6c725c482c8285cf%3AT%3D1703914601%3ART%3D1715756855%3AS%3DALNI_MZHhrLUgci-Yb8nm2gXt5raIIByAQ&gpic=UID%3D00000ce94cf8ca97%3AT%3D1703914601%3ART%3D1715756855%3AS%3DALNI_MaE-CmEPB17PLEq9KR8xJoZK5MioQ&eo_id_str=ID%3Da0f366dcf2959106%3AT%3D1707197502%3ART%3D1715756855%3AS%3DAA-Afjb4kc7miexLGlwddFvzS1YX&prev_fmts=0x0%2C248x600&nras=2&correlator=6948413745851&frm=20&pv=1&ga_vid=187424282.1703914599&ga_sid=1715803568&ga_hid=1056437759&ga_fc=1&u_tz=-720&u_his=9&u_h=768&u_w=1366&u_ah=728&u_aw=1366&u_cd=24&u_sd=1&dmc=8&adx=195&ady=1062&biw=1349&bih=607&scr_x=0&scr_y=128&eid=44759875%2C44759926%2C44759837%2C31083636%2C31083639%2C42532523%2C44795921%2C95331983%2C31083689%2C95331711%2C95332415%2C31078663%2C31078665%2C31078668%2C31078670&oid=2&pvsid=1106079934953994&tmod=2014200869&uas=3&nvt=1&ref=https%3A%2F%2Fleadership.ng%2F&fc=1408&brdim=0%2C0%2C0%2C0%2C1366%2C0%2C1366%2C728%2C1366%2C607&vis=1&rsz=%7C%7Cs%7C&abl=NS&fu=128&bc=31&bz=1&td=1&psd=W251bGwsbnVsbCxudWxsLDNd&nt=1&ifi=3&uci=a!3&btvi=2&fsb=1&dtd=472 Value of the naira also depreciated to N1,501 to […]
The earnings of some of Nigeria’s biggest banks more than tripled in the first three months of 2024 as a result of the record hike in the benchmark interest rate by the Central Bank of Nigeria (CBN). This development marks a turnaround from when the devaluation of the naira led to huge foreign exchange gains […]
Tiny generators known to power the homes of the least wealthy households and shops of the smallest businesses in Nigeria’s commercial capital, Lagos, have gone out of reach for many amid a rapid price surge. “I better pass my neighbour,” the phrase used to describe the generators, now make their owners not only better than […]
Network providers in Nigeria has decried that the impact of the nation’s economy on their businesses, stating that the telecommunications sector has become a ‘painful’ destination for investment. The telecommunication leaders disclosed this at the launch of Nigeria Digital Economy Report by GSMA, in Abuja on Thursday. Karl Tariola, the Chief Executive Officer of MTN, […]
The National Economic Summit Group has faulted the timing of the cybersecurity levy, a directive by the Central Bank of Nigeria, stressing that it should be directed at the wealthy and not the vulnerable. The Group, in a note stating its position on the policy on Thursday said that the 0.5 percent levy will pose a burden on […]
The presidential committee on fiscal policy and tax reforms says there is a need to increase the value-added tax (VAT) rate. Speaking at the policy exposure and impact assessment session organised by the committee, the committee chairman, Taiwo Oyedele, also disclosed that the VAT revenue-sharing formula would be reviewed. Oyedele added that the committee has proposed reviewing state […]
