Nigerians are feeling the pinch of rising prices, and the Central Bank is taking decisive action. Governor Dr. Olayemi Cardoso reaffirmed the Monetary Policy Committee's (MPC) commitment to keeping interest rates high to combat inflation. This comes after two significant interest rate hikes in 2024, pushing the benchmark lending rate to a record 24.75%.
The US says Mexican cartels are looking to Africa as an alternative route, after Nigeria’s NDLEA dismantled four methamphetamine labs this year linked to the cartels.
Vice President Kashim Shettima urged states to stop waiting for Abuja and build their own electricity markets and regulators under the Electricity Act 2023.