A $500 million loan request from the federal government was just approved by the Senate.
The Bureau of Public Enterprises would utilize the funds to “meter Nigerians” for the delivery of power to their residences, it was learned.
This is coming after it was reported that inflation rate has increased to 33.69 per cent in April 2024 up from 33.20 per cent recorded in March 2024, the National Bureau of Statistics has said.
This represents a month-over-month increase of 0.49 per cent points in the headline inflation rate, according to the Consumer Price Index report, the NBS stated in a report on Wednesday.
Comparing year-on-year data, the inflation rate in April 2024 was 11.47 percentage points higher than in April 2023, where it stood at 22.22 per cent. This indicates that the headline inflation rate has risen significantly over the past year. [CONTINUE READING HERE]
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