Nigeria’s economic turmoil worsens as experts blame price spike on rising global oil prices and weak naira.
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Nigeria’s economic turmoil worsens as experts blame price spike on rising global oil prices and weak naira.

BySanativemusic

Gasoline prices up 26 since subvention scrapped May 30 56 private companies have applied to import energy NNPC head blames ‘ request forces ’, claims 32- day stocks Experts criticized the price rises on rising global oil painting prices and a weak naira. Thank you for reading this post, do not forget to subscribe! The price of gasoline has jumped 26 in Nigeria since new chairman Bola Tinubu ended a longstanding energy subvention on May 30, with the country’s state– possessed oil painting company condemning request forces that now determine pump prices in a statement July 19. The price of gasoline hit an each– time high of Naira 617/ liter( 81 cents/ liter) on July 19, over from Naira 488/ l six weeks agone , egging demurrers by rights groups and labor unions. “ These are just prices depending on the request realities, ” said Mele Kyari,…

FG targets $5bn from outsourcing industry in 2024
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FG targets $5bn from outsourcing industry in 2024

BySanativemusic

The Nigerian Import Promotion Council( NEPC) on Wednesday in Abuja said that Nigeria targets to earn five billion bones from the outsourcing assiduity in 2024. The Administrative Director of NEPC, Dr Ezra Yakusak said this at the National Conference on International Trade- in- Service organised by the council, on Wednesday in Abuja. According to Yakusak, the outsourcing assiduity has the capacity to boost mortal capital, drive the frugality and bring about arising technologies. He said that some of the services outsourced are fiscal, advertising, courier, client support services, logistics,etc. “ In recent times, Nigeria has come an decreasingly seductive destination for outsourcing, particularly in areas of call center operations, software development and aft office support. “ The country’s high population and fairly low labour cost, favourable time zone,…

Court awards N72bn against Ecobank in favour of Honeywell
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Court awards N72bn against Ecobank in favour of Honeywell

BySanativemusic

The Federal High Court has delivered a judgment in favor of Honeywell Flour Mills Plc in a prolonged suit against Ecobank Nigeria, granting all four reliefs amounting to the sum of N72.2 billion. According to details of the court proceedings, Justice Mohammed Liman of the Federal High Court in Lagos in his ruling on Tuesday noted that “ The complainant was denied the use of finances in his account grounded on the partner parte order granted in favour of the defendant. ” Honeywell had in 2018 filed a suit claiming the sum of N72 billion in damages from the bank for reputational losses suffered as a result of the asset– induratingex-parte order. The claims include foreign exchange devaluation loss, interest on unutilised cash balance, loss of profit,…

Fuel Price Hike: South-east youths call NLC, TUC, women for protest
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Fuel Price Hike: South-east youths call NLC, TUC, women for protest

BySanativemusic

The Coalition of South East Youth Leaders, COSEYL, which is the apex socio- political youth group in the South East Geo- political zone has called on the Nigerian Labour Congress( NLC), the Trade Union Congress( TUC), Nigerian Youths, All Dealers and Businessmen women, All Trade Unions and all Nigerians scholars in the entire nation to come out enmasse for a kick march against this wrong and wickedness brought upon Nigerians by President Bola Tinubu. In a statement issued on Wednesday in Owerri, concertedly championed by the President General COSEYL,Hon. Goodluck Ibem and the hype Secretary…