Economy

The Lagos State Commissioner for Youth and Social Development (MYSD), Mr. Mobolaji Abubakre Ogunlende has reiterated that all residents of Lagos irrespective of their ethnicity or religion will enjoy more social services in the second term of Governor Babajide Olusola Sanwo-Olu's administration, in fulfilment of his electoral promises. Ogunlende gave the assurance at the Year 2024 Ministerial Press Briefing organised to commemorate the First Year of the Second Term in office of Governor Babajide Sanwo-Olu, held today at Bagauda Kaltho Press Centre, Alausa Secretariat, Ikeja. He stated that the present administration, which has implemented many policies and programmes to cushion the effects of economic hardship on Lagosians during its first term, will look into areas that need improv...

… As LASG Commences Airlifting of Hajj Pilgrims on Friday  The Lagos State Government has stated that the welfare and safety of its citizens remain top priority, as the 2024 Pilgrimage exercise commences. This was disclosed by the Commissioner for Home Affairs, Hon. Ibrahim Layode while listing the activities and achievements of the Ministry of Home Affairs in the past year at the 2024 annual Ministerial Press Briefing organised to commemorate the First year of the 2nd term in office of the Babajide Olusola Sanwo-Olu’s administration held today at the Bagaulda Kaltho Press Centre, Alausa, Ikeja. Hon. Layode assured that the State Government through the Lagos State Christian Pilgrims Welfare Board in collaboration with the Nigerian Christian Pilgrims Commission (NCPC) is in c...

The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso has signalled that interest rates will remain elevated until the inflation rate recedes, as reported by the Financial Times on Monday.  Cardoso emphasised the adoption of orthodox policies to combat inflation, which soared to 33.20 per cent in March from 31.70 per cent in February. He said hiking interest rates obviously has had a dampening effect on the foreign exchange market, so that has begun to moderate. “It’s not a zero-sum game. You lose on one side, you get on the other,” he said.  In response, the CBN’s Monetary Policy Committee (MPC) raised the interest rate by 200 basis points in March to 24.75 per cent. Cardoso stressed that the MPC is prepared to take necessary measures to curb inflation, stating...

The minister of Aviation and Aerospace Development, Festus Keyamo, has urged Air France-KLM airline to consider offering lower-priced ticket fares in Nigeria. In a statement by the minister’s spokesman, Tunde Moshood, when the France-KLM led by country manager, Christine Quantin, Key Account Manager, Commercial Division, Antonia Kenosa Umunna and Deputy Station Manager, Damilola Ogunseye, said reducing ticket fare will ensure parity with fares in neighbouring regions. He emphasised the importance of equitable pricing for Nigerian travellers, urging the airline to consider offering lower-priced ticket fares to ensure parity with fares in neighbouring regions. The minister also reiterated Nigeria’s commitment to fostering partnerships within the travel industry, emphasising the gov...