The Angolan government plans to invest over US$445.5 million (392.3 million euros) to build 21 logistics centres, by 2038, to minimise the challenges of goods transportation. Minister for Transport, Ricardo de Abreu, made this known at the launch of the international public tender for the concession, construction, operation and commercial management of the Soyo and […]Read More
New government reports have shown a steady decline in the price of food for the seventh month running even as consumers claim otherwise. Nigeria’s inflation rate reportedly fell to 15.99 percent in October compared with the same period last year and was 0.64 percent lower than September’s annualised reading, according to Nigeria’s National Statistics office […]Read More
A little over 62,260 people that makeup Nigeria’s prison population would now earn up to N1000 for daily feeding allowance, according to a senate committee’s new decision. The Senate Committee on Interior recently agreed to increase the daily feeding cost of prisoners per day from N450 to N1,000, as proposed in the 2022 budget. The […]Read More
United Nations Food and Agriculture Organization has reported the continuous climb in food prices around the world, hitting a fresh decade high last month. The FAO Food Price Index climbed for a third straight month in October, jumping 3 percent from the previous month to reach its highest level since July 2011. Cereal prices overall […]Read More
Amnesty International has asked the world and Madagascar’s government to step up relief efforts for over a million people affected by drought in southern Madagascar. More than a million people on Madagascar’s parched southern tip are on the brink of famine and some are already dying, the global rights watchdog said in a report on […]Read More
The International Monetary Fund has reduced its headline forecast for global economic growth this year by 0.1 percent to 5.9 percent while leaving its projections for 2022 unchanged at 4.9 percent. IMF’s latest outlook released on Tuesday showed that global economy had not recovered from last year’s COVID-19 disruption, stating the “dangerous divergence” between richer […]Read More
According to the National Bureau of Statistics, the inflation rate in Nigeria declined for the sixth consecutive month to 16.63 percent in September. Its lowest level since January this year. In its Consumer Price Index, NBS said the inflation rate fell by 0.38 percent from 17.01 per cent in August. The drop in headline inflation […]Read More
Foreign airlines operating in Nigeria would begin the reduction of the total number of tickets they sell on Nigerian routes amid worsening dollar scarcity. According to the International Air Transport Association (IATA)–the global body for international carriers, foreign airlines operating in Nigeria had been unable to repatriate about $144m (N60bn) in ticket sales back to […]Read More
A market survey report by People’s Gazette has revealed the drastic rise in food prices as the country suffers another wave of food inflation growth in the last quarter of the year. Food inflation rose by 21.03 percent due to the constant depreciation of the naira against the dollar and rigid importation laws by the […]Read More
30 bank accounts has been frozen by the Central Bank Of Zimbabwe for illegally exchanging foreign currency through mobile phones and social networks, according to an official statement on Tuesday. The apex bank said it had identified 30 people “abusing mobile telecommunication services and other social media platforms” for “illegal foreign exchange transactions and money […]Read More
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