Page 6 - Godwin Owoh News Today : Breaking News, Live Updates & Top Stories | Vimarsana

• Records show how previous price hikes have worsened inflation, unemployment • Fuel subsidy removal endangers survival of million households Available statistics from economists indicate that the planned removal of the Premium Motor Spirit (PMS) subsidy will put the survival of millions of households in the balance. Over the years, the Federal Government has repeatedly argued that the social scheme benefits a few wealthy marketers, who have cashed in on the weak distribution monitoring system to rip the government off at the expense of the common good, alongside the super rich with fleet...

Naira sees biggest plunge day after CBN forex ban • CBN maintains stance as BDCs seek truce • This will move market away from rate convergence, Adonri insists • BDCs are anti-market creation, living borrowed time – retired banker • Banks can’t be trusted, may hoard dollars, Mailafia says Twenty four hours after the Central Bank of Nigeria (CBN) came down hard on Bureau De Change (BDC) operators for allegedly facilitating money laundering and other forex infractions, the naira fell significantly against the U.S. dollar at the parallel market, yesterday. ...

Review import tariffs on inputs to check inflation says, Yusuf • ‘Currency depreciation is disastrous for import-dependent economy’ • How to reduce inflationary pressures, says Owoh From 2009 until four years ago, Raheem Adelabu, who until recently was a business analyst with a leading insurance firm and devout Muslim, was used to buying three rams to celebrate Eid-el-Kabir. But since 2017, the festive season has seen a reducing balance for his family as well as parents and in-laws, who were hitherto given a ram and bag of rice each.     x  �...

[FILES] Minister of Finance, Zainab Ahmed. Photo/Twitter/FinMinNigeria As the COVID-19 pandemic spread across the world last year, a group of activists seized the loophole in support responses, seeking the institution of universal basic income (UBI) and polled over 200,000 signatures to drive home their demand. The movement renewed the call for the establishment of basic income guarantee as an essential part of modern economies. In the recent United States election, Andrew Yang, a Democratic Party presidential aspirant, shot to the international podium for his sermon on UBI and how he planne...

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