President Bola Tinubu Vows to Revolutionize Agriculture in Nigeria
President Bola Tinubu has expressed his administration’s determination to transform the agricultural sector, with the aim of making Nigeria self-sufficient in food production and a net exporter of agricultural products. The President made…
Table, Sachet Water Producers Shut Down Production In Enugu
It was gathered by Hobnob News reports that the Association of Table Water Producers (ATWAP) says it will shut down and suspend production in all water producing factories in Enugu State due to unbearable high cost of production.This is contained in a…
Drama As Two Tinubu’s Ministers Question His Economic Policies And Removal Of Fuel Subsidy
Two serving ministers in on Friday questioned the removal of fuel subsidy and the floating of the Nigerian currency. The Minister of Budget and Planning, Atiku Abubakar Bagudu and his counterpart in the Ministry of Agriculture Senator Abubakar Kyari,…
Leaked Memo Shows Tinubu Approved N500Million For Inauguration Of New National Minimum Wage Committee
The President of Nigeria, Bola Tinubu has approved the sum of N500 million for the inauguration and funding of the 37-man Tripartite Committee on New National Minimum Wage. A letter addressed to the President by the Secretary to the Government of the…
Central Bank of Nigeria Orders Banks to Limit Foreign Currency Exposures
In a bid to enhance the liquidity in the country’s foreign exchange market, the Central Bank of Nigeria (CBN) has instructed banks to restrict their Net Open Position (NOP) for foreign currency assets and liabilities. The CBN has mandated…
CBN Announce Release Of $500m To Clear Verified FOREX Backlog
The Central Bank of Nigeria CBN has announced the release of $500m to various sectors as it moves to address the backlog of verified foreign exchange transactions. CBN Acting Director, Corporate Communications Department, Mrs Hakama Sidi-Ali, who made…
Nigerian Economy To Grow By 3.7 Percent In 2025 — World Bank
A new prediction by World Bank has projected Nigeria’s GDP to increase by 3.7% by year 2025. The World Bank’s most recent study, “Global Economic Prospect: Subdued Growth, Multiple Challenges”, says Nigeria’s economy is expected to grow by…
CBN To Raise Nigerian Banks Capital Base To ₦900 Billion
Apex bank, the Central Bank of Nigeria CBN may order commercial banks with international banking licence to raise their capital base to over N900bn, according to a new report. It would be recalled that few months ago, CBN Governor, Olayemi Cardoso, said…
Nigeria’s poverty reduced by seven per cent – World Bank
It was gathered by Hobnob News reports that the World Bank has estimated that improved access to internet coverage over three years led to a seven per cent reduction in extreme poverty in Nigeria and Tanzania. In a new brief titled, “Digital…
Tinubu Fumes Over Delay in Constituting New Minimum Wage Committee
The President of Nigeria, President Bola Tinubu has expressed his displeasure over the delay in constituting the new Minimum wage committee. According to Hobnob News reports, the current minimum wage of N30,000 is expected to expire by March and the new…