Author: Olabanji Ayoola

One of the key assumptions underpinning President Bola Tinubu’s 2025 budget is an inflation rate of 15 per cent. While many agree that inflation will decline in 2025, the projection appears overly optimistic. Inflation remains a persistent challenge for Nigeria, having reached record levels since Tinubu assumed office in May 2023. Over the past 18 […]

The official exchange rate between the naira and the United States dollar ended in 2024 at N1,535/$, an analysis of data from the Central Bank of Nigeria has shown. This was a 40.9 per cent depreciation over the year when compared to the official rate at the close of 2023, which stood at N907.11/$. The […]

The Nigerian National Petroleum Company Limited has formally invited former President Olusegun Obasanjo to tour the Port Harcourt Refinery to clarify the facility’s operational status. The invitation comes on the heels of Obasanjo’s recent comments during an interview with Channels Television on Wednesday, where he raised concerns over the refinery’s effectiveness based on advice from […]

Babafemi Ojudu, former Special Adviser on Political Matters to ex-President Muhammadu Buhari, has revealed how he and other allies convinced President Bola Tinubu to reject an offer to serve as Minister of Finance under the late President Umaru Yar’Adua. He disclosed this during an appearance on State Affairs, a podcast hosted by Edmund Obilo, on […]

Former President Olusegun Obasanjo has revealed new details about Nigeria’s refinery woes, recounting failed efforts to privatise the country’s refineries and the subsequent financial losses under government management. In an exclusive interview with Channels TV on Thursday, Obasanjo discussed the Port Harcourt, Warri, and Kaduna refineries during his presidency. He explained how he sought external […]

Rivers State Governor, Siminalayi Fubara, has signed the N1.188trn 2025 State Appropriation Bill into law. The governor insisted that there is only one House of Assembly existing in the State, and it is led by Rt Hon. Victor Oko-Jumbo. Fubara made the clarification shortly after giving assent to the Rivers State Appropriation Law No.1 of […]

Despite the efforts of the Central Bank of Nigeria (CBN) to control the money supply through its tightening measures, the latest report from the apex bank shows that Nigeria’s Broad Money Supply (M2) soared by 51 per cent year-on-year (YoY) to reach ₦108.96 trillion in November 2024. The surge, according to the CBN, was fueled […]