By Jemimah Wellington, JKNMedia Reporter THE Nigerian Exchange Limited (NGX) made waves in July 2023 when it announced the reclassification of Fidelity Bank Plc from a small-price stock to a medium-price stock. This move stirred the interest of financial analysts who speculated that the bank’s path to Tier 1 status might be closer than anticip...
By Joke Kujenya THE latest findings from the March 2024 edition of the National Bureau of Statistics Selected Food Price Watch have revealed staggering increases in the prices of essential food items across Nigeria. According to the report, the average price of 1kg of locally sold loose rice surged to N1,349.74, marking a significant 152.93% [...
By Joke Kujenya SOCIO-Economic Rights and Accountability Project (SERAP) has taken legal action against the Nigerian National Petroleum Company (NNPC) Limited, filing a lawsuit over the alleged failure to account for and explain the whereabouts of significant oil revenues totaling $2.04billion and N164 billion. The lawsuit, registered as suit ...
By Helen Okechukwu, JKNMedia Reporter AKWA Ibom State Governor, Umo Eno, has announced plans to commission two gas hubs in different locations within the state, aimed at bolstering the energy sector. Governor Eno revealed that the Liquefied Petroleum Gas (LPG) Depot at the Liberty Oil and Gas Free Zone in Ibeno is slated for commissioning [&he...
By Helen Okechukwu, JKNMedia Reporter DURING the recent International Monetary Fund Spring meeting in Washington DC, Nigeria’s Minister of Finance, Wale Edun, revealed a significant breakthrough for the nation’s economy. A hefty $2.25 billion package from the World Bank was announced, offering a substantial lifetime for Nigerian’s financial la...
By Olaide Ajibola, JKNMedia Reporter THE National Bureau of Statistics (NBS) has reported a 1% increase in the average retail price of a litre of kerosene from February 2024 to March 2024, with prices rising from N1,340.94 to N1,354.40. Released on Friday in Abuja, the Diesel Price Watch for March 2024 revealed this upward trend […]
By Joke Kujenya IN A recent press briefing held in Washington DC, the International Monetary Fund (IMF) revealed optimistic projections for Sub-Saharan Africa’s economic growth. According to Abebe Selassie, Director of IMF’s African Department, the region’s economy is poised to expand from 3.4% in 2023 to 3.8% in 2024, with expectations of fur...
By Jemimah Wellington, JKNMedia Reporter ADDRESSING critical social needs, the Alternative Bank Limited (AltBank) has joined forces with FoodBank and Sterling One Foundation to mobilize approximately N20million in support of hunger and educational initiatives. This collective effort resonates with the theme of the African Union Summit 2024, “E...
By Helen Okechukwu, JKNMedia Reporter WORRIED by the persistent surge in commodity prices, the Federal Competition and Consumer Protection Commission (FCCPC) has pledged rigorous monitoring to curb irregularities in the pricing of goods and services across Nigeria. Responding to the gush of complaints from consumers nationwide regarding exorbi...
By Jemimah Wellington, JKNMedia Reporter DELTA State Governor Sheriff Oborevwori has reiterated his administration’s commitment to fostering a business-friendly environment to attract potential investors to the state. He made the disclosure during the inauguration of the Asaba Branch of Signature Bank on Tuesday. Oborevwori emphasized his admi...
