Showing posts with label Economy. Show all posts
Showing posts with label Economy. Show all posts
N5,000 monthly allowance won't be enough to alleviate poverty - Senators

Two senators have urged ruling All Progressives Congress(APC) to increase its proposed monthly allowance for unemployed Nigerians from N5,000, saying the amount was inadequate for alleviating their hardship.
The senators, who are Peoples Democratic Party (PDP) members, told the News Agency of Nigeria (NAN) separately in Abuja, that APC should evolve a better welfare scheme that would assuage the pains of the unemployed and aged.
06:13
These are definitely not interesting times for the nation’s economy, particularly the national currency, the naira, no thanks to the depleting reserves and the subsequent banning of importers of 41 items from the foreign exchange market by the Central Bank of Nigeria.
Barely 10 days after the CBN stopped forex sale to importers of rice, textile and 39 other items, the naira on Wednesday crashed to 230 against the United States dollar at the parallel market, down from 218 recorded on June 23 when the new forex rule was introduced.
00:36
Senator Ben Murray-Bruce has suggested that the Nigerian government merge some states in the country in a bid to save the country.
Murray-Bruce made the suggestion as a possible solution to the inability of some states to pay their workers’ salaries.
The Senator, who represents the Bayelsa East Senatorial District, made the comment via Twitter on Thursday, June 11, 2015.
06:41
Africa’s richest man and President, Dangote Group, Alhaji Aliko Dangote, has said his oil refinery will process 650,000 barrels of crude oil per day.
The completion of the plant, expected to come on stream in 2017, will see Nigeria having one of the largest petroleum refineries in the world.
07:00
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