Inflation Maintains Upward Trajectory, Increases to 34.60% Amid Higher Food, Commodities, Energy Prices Severe in Bauchi, Kebbi, Anambra, others
James Emejo in Abuja and Dike Onwuamaeze in Lagos
The Consumer Price Index (CPI), which
measures the rate of change in prices of goods and commodities increased to 34.60 per cent in November compared to 33.88 per cent in October, the
LCCI tells businesses to ready for tense climate in 2025
National Bureau of Statistics (NBS) said yesterday. NBS attributed the 0.72 per cent rise in headline inflation to increases in
food and commodity prices, including energy. The figures came as the Lagos Chamber of Commerce and Industry
(LCCI) warned businesses to prepare for a tense business environment in the new year. Reacting to the November inflation
report, Director General of LCCI, Dr. Chinyere Almona, in a statement, said Continued on page 14
EFCC Busts Cybercrime, Romance Fraud Syndicate in Lagos, Arrests Scores of Foreign Nationals... Page 26
Tuesday 17 December, 2024 Vol 29. No 10845. Price: N400
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FEC Okays N47.96trn for 2025 Budget Proposal Explains why Tinubu will present it to N'Assembly tomorrow Renames Abuja varsity after Gen. Yakubu Gowon Approves free train services during yuletide Goes on recess from Dec. 18 to January 6, 2025 Mutfwang commends president for honouring ex-Nigerian leader Deji Elumoye in Abuja and Seriki Adinoyi in Jos The Federal Executive Council (FEC), yesterday, rose from its last
meeting in 2024 with the approval of a N47.86 trillion budget proposal for the 2025 fiscal year. Minister of Budget and Economic
Planning, Senator Atiku Bagudu, made this known while briefing newsmen at the end of the FEC meeting, presided over by President Bola Tinubu.
According to him, the 2025 budget framework was based on oil price benchmark of $75 per barrel, oil production of 2.06 million barrels per day and exchange rate of N1,400
to a dollar. “Today (yesterday) the Federal Executive Council approved the budget proposals for 2025 with amendments which Mr. president
directed following a presentation to the Federal Executive Council led by the Director General of the Budget Continued on page 14
Shell’s $5bn Bonga North Deepwater Investment Excites Tinubu President describes feat as milestone for nation's energy sector Oil giant anticipates first oil production by 2030 Asset to produce 110,000 bpd at peak Lokpobiri: Deal proves Nigeria's investor-friendly environment Analysts, contractors hail achievement Deji Elumoye, Emmanuel Addeh in Abuja and Peter Uzoho in Lagos President Bola Tinubu yesterday welcomed Shell and its four partners' namely the Nigerian National Petroleum Company Limited (NNPCL), ExxonMobil, TotalEnergies, and Eni's
announcement of a Final Investment Decision (FID) on the Bonga North Deep Offshore Field. According to the President, the landmark development, Nigeria's first deep-water oil project in over Continued on page 14
Ademola Lookman Voted 2024 Africa's Best Player!... Page 31
DONATION TO LAGOS STATE SECURITY FUND...
L-R: Group Deputy Managing Director, United Bank for Africa (UBA), Muyiwa Akinyemi; Lagos State Governor Babajide Sanwo-Olu; and Group Chairman, UBA, Mr. Tony Elumelu, during the presentation of N500m to Lagos State Security Fund by UBA Foundation, the corporate social responsibility arm of UBA, held at Lagos House, Marina on Sunday.