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The Central Bank of Nigeria’s Monetary Policy Committee (MPC) has reduced the benchmark interest rate by 50 basis points, lowering it from 27.5 percent in July to 27 percent. The decision was reached at the Committee’s 302nd meeting held on September 22 and 23, 2025, following a vote by its 12 members. Briefing journalists after
Traders in Port Harcourt have called on Governor Siminalayi Fubara to introduce quick-impact economic policies that will restore circulation of money and boost business activities. They lamented that their businesses suffered low patronage during the emergency rule, noting that civil servants, who make up a large portion of their customer base, were unable to spend
By ifunanya Obeme-Ndukwe The Rivers State Entrepreneur and Investors Forum (REIF) has appealed to political leaders in the state to restrain their supporters from making inflammatory statements that could fuel fresh political crises. President of REIF, Ibifiri Bobmanuel, made the call in an interview with Today FM’s Ifunanya Obeme-Ndukwe while reacting to President Bola Tinubu’s
By Ifunanya Obeme-Ndukwe Staff working on the Nigerian Liquefied Natural Gas (NLNG) Train 7 project in Bonny, Rivers State, have embarked on a protest over alleged irregular tax deductions. The demonstration, which began on Monday, is being spearheaded by employees under Daewoo Contractors. Some of the protesting workers, who spoke to Today FM’s Ifunanya Obeme-Ndukwe
Finance Minister Wale Edun has assured that there are no immediate plans to implement the proposed 5 per cent tax on petroleum products. Speaking to reporters in Abuja, Edun explained that while the levy is part of the new tax administration scheduled to begin on January 1, 2026, its enforcement will only follow due process.
A recent survey conducted by Today FM has revealed a significant drop in the prices of major food items across key markets in Port Harcourt. Findings from Mile 1, Mile 3, Slaughter, Creek Road, and Rumuokoro markets show that the prices of rice, beans, and garri have reduced notably compared to previous months. According to
With the new local government chairmen now in office, traders at Mile Three Market, particularly along Bishop Okoye Street, have called on the chairman of Port Harcourt City Local Government, Allwell Ihunda, to take urgent steps against multiple taxation. The traders lamented that they are compelled to pay different levies in the morning and again
The Federal Government has approved new imprest limits for Ministers and other top management officials across its Ministries, Departments, and Agencies (MDAs). The limits, approved by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, are outlined in the 2025 General Imprest Warrant. The warrant aligns with Financial Regulation No. 1003, which
The Coalition of Civil Society Organizations in Rivers State has criticized the Central Bank of Nigeria (CBN) for maintaining the Monetary Policy Rate (MPR) at 27.5%, describing the decision as alarming and detrimental to businesses and individuals seeking credit facilities nationwide. In a statement, the CSOs lamented that while the CBN and commercial banks continue
Nigeria’s real estate sector has overtaken crude oil and natural gas to become the third-largest contributor to the nation’s Gross Domestic Product (GDP), according to the latest report from the National Bureau of Statistics (NBS). The report reveals that the sector’s contribution to the economy surged from ₦22 trillion under previous estimates to ₦41.2 trillion
