Nigeria suffers its highest inflation rate since May 2018

The closure of some of the Nigerian borders has led to the increase in food prices and subsequently pushed up annual inflation in the country. The National Bureau of Statistics monthly report released on Monday showed that annual inflation was 11.61% in October, up from 11.24% in September, indicating the highest rate since May 2018.

Border Closure: Petrol now sells for N600 per liter at border towns

Following the decision of the Federal Government to suspend the supply of petrol to areas 20 kilometres to the country’s borders, the price of the commodity has increased automatically, a report has revealed. Following the new order, fuel price in Ogun, Lagos, Adamawa, Katsina, and Sokoto states, has surged as scarcity looms in communities such as Ihunbo, Ilase, Ajegunle, Idiroko and Agosasa in the Ipokia Local Government Area of Ogun.
Young Farmers Seek Federal Government, State’s Support over Border Closure

Young Farmers Seek Federal Government, State’s Support over Border Closure

Nigerian Young Farmers Network (NYFN) has urged the government at all levels to support youth in businesses to grow the economy following the recent border closure. Mr Promise Amahah, the national coordinator made the appeal in an interview with News Agency of Nigeria (NAN) in Abuja on Monday.
Bitcoin and Gold Jockey for Position in $10K Long-Term Investment Poll

Bitcoin and Gold Jockey for Position in $10K Long-Term Investment Poll

According to a Twitter poll crafted by former U.S. Rep. Ron Paul, bitcoin and gold are the top choices, with the leading cryptocurrency having overtaken the precious metal as the investment of choice with more than 55% of the vote. Gold, which earlier in the day was leading, puts up a good showing at 37%. The rest of the votes were spread across the 10-year U.S. Treasury bond, which is yielding less than 2%, and Federal Reserve notes at 6% and 2%, respectively.
CBN Gov. Emefiele reveals what will happen if borders is closed for two years

CBN Gov. Emefiele reveals what will happen if borders is closed for two years

The Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, says if border closure is sustained for the next two years, issue of insurgency, banditry and kidnapping will be totally eradicated. CBN Gov. Emefiele reveals this at the first Convocation Lecture of Edo University, Iyamho, Auchi on Friday.
Smartphone Market Returned to Growth After Two years

Smartphone Market Returned to Growth After Two years

According to Canalys, Samsung topped the rankings and shipped 78.9 million devices, up 11%, as its strategy to sacrifice operating profit in pursuit of market share gained traction. Huawei bounced back from a weak Q2 and was second with 66.8 million units, up 29%, as pent-up channel demand caused a surge in volume of shipments. Apple, in third place, shipped 43.5 million units, a decline of 7%, caused mainly by weak performance of iPhone XR, XS and XS Max in the lead up to its September launch event. However, this number was higher than it could have been, as Apple launched three iPhones in September for the first time ever. Xiaomi and Oppo completed the top five vendors, shipping 32.5 million and 32.0 million units respectively.
Aliko Dangote Says His Investments Meant To Tackle poverty

Aliko Dangote Says His Investments Meant To Tackle poverty

The Chairman of Dangote Cement Plc, Aliko Dangote, has said that he will continue to help in alleviating poverty and spread wealth through his investments. The richest man in Africa spoke in response to the commendation by winners in the ongoing extended Dangote Cement bag of Goodies National Consumer Promotion in Akure, Ondo State and Asaba, Delta State.

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