Business

Finance Minister Promises Affordable Food and Lower Inflation Under Tinubu’s Government

Published

4 weeks ago

August 22, 2024

Photo source: Twitter

Finance Minister Wale Edun has assured that President Bola Ahmed Tinubu’s administration is committed to ensuring that food remains both available and affordable for Nigerians.

Speaking at the National Economic Dialogue 2024 organized by the Nigerian Economic Summit Group in Abuja on Wednesday, Edun emphasized the government’s dedication to continuing the trend of decreasing inflation rates.

Despite Nigeria’s 25 years of democratic governance, Edun acknowledged that the nation’s economy remains on a growth trajectory. He highlighted the administration’s focus on not only sustaining but accelerating progress in this area.

“While democracy is not the sole method for organizing a society, it is widely regarded as the most effective. We are continually striving to enhance our democratic practices, and today’s dialogue represents a step in that direction,” Edun remarked.

The Minister noted that there has been a reduction in inflation, with recent data from the National Bureau of Statistics indicating a drop to 33.40 percent as of July. This decline is a positive sign, and the government is determined to maintain this downward trend in inflation, particularly concerning food prices.

Edun reiterated that making food more accessible and affordable is a key priority for the administration in the short term. However, despite these efforts, many Nigerians continue to face economic hardships due to high prices for goods and services.

The government’s ongoing commitment is to address these challenges and improve economic conditions for citizens.

Business

Hamster Kombat Unveils Anti-Cheating Plan

Published

11 hours ago

September 18, 2024

Ese Ohwofa

Hamster Kombat has introduced a new anti-cheating strategy to ensure fair play and protect dedicated players. The initiative targets those attempting to manipulate the game for extra benefits, issuing a “cheating is bad” warning that could affect their positions for the airdrop distribution on September 26. The team emphasized the importance of rewarding honest players and creating a secure environment.

As Season 1 of the Telegram-based Web3 game ends on September 20, Hamster Kombat will take a snapshot of the game’s activities to determine airdrop eligibility. The game, which has over 300 million users, is focused on maintaining fairness ahead of its upcoming Season 2 launch.

Business

Binance Launches ‘Moonbix’ on Telegram

Published

12 hours ago

September 18, 2024

Ese Ohwofa

Binance announced the upcoming launch of “Moonbix,” a play-to-earn (P2E) game on Telegram’s Mini App. In this game, players explore galaxies, collect items, and earn crypto rewards. Although the game leaked early, Binance is fine-tuning it for an official release and warned users to stay cautious of impersonation scams.

Telegram Mini Apps, introduced in 2023, have seen massive engagement, with popular apps like Hamster Kombat driving crypto adoption. Telegram’s integration with The Open Network (TON) has further contributed to this growth.

Business

Nigeria Earned $1.2bn from Telecom Licenses, Says Obasanjo

Published

20 hours ago

September 18, 2024

Gift Ogieva

Photo source: Google

The Federal Government generated around $1.2 billion from telecom license fees during the early stages of mobile technology in Nigeria, with major operators like MTN, Globacom, Econet (now Airtel), and Etisalat (now 9mobile) contributing to the sum.

These fees were instrumental in laying the foundation for the country’s telecom industry, which officially began in 2000.

The sector has since become a key driver of Nigeria’s economic growth.

Former President Olusegun Obasanjo highlighted this achievement during a book launch held in Lagos on Tuesday.

He reflected on how the licensing of these operators marked a pivotal moment in Nigeria’s technological and economic development, allowing the country to leap into the era of mobile communication.

Obasanjo acknowledged the critical role these funds played in shaping the telecom industry, which has become one of the most significant sectors in the nation’s economy today.

The successful auction of these telecom licenses provided the capital necessary to build the infrastructure and networks that have connected millions of Nigerians, driving economic activity and fostering innovation across various industries.