Economy Archives - Pen Agency News

Burkina Faso Inaugurates New Cement Factory in Partnership with China, Boosting Jobs and Sovereignty

Laongo, Burkina Faso – On Thursday, March 20, 2025, Captain Ibrahim Traoré, the interim leader of Burkina Faso, inaugurated the Société Industrielle Sino-Burkinabè de Ciments SA (CISINOB SA), a new cement factory...

Abia State Governor Signs Landmark Electricity Bill, Paving the Way for Stable Power Across the State

Aba, Nigeria – March 18, 2025 – In a significant move toward energy independence, Abia State Governor Alex Otti signed the Abia State Electricity Bill into law on Monday, marking a transformative...

Enugu State Governor Signs Executive Order to Relocate Coal Camp Spare Parts Market to Modern Hub, Boosting Economic Growth

Enugu, Nigeria – March 15, 2025 – Governor Peter Ndubuisi Mbah of Enugu State has signed a landmark Executive Order designating and establishing the Enugu International Motor Spare Parts and Allied Traders...

Enugu State House of Assembly Introduces Bill to Regulate Landlord-Tenant Relations and Curb Excessive Housing Costs

Enugu, Nigeria – February 25, 2025 – The Enugu State House of Assembly has taken a significant step toward addressing the rising concerns over exorbitant house rents and unregulated real estate practices...

Anambra Governor Welcomes Chinese Investors to Boost Power, Agriculture, and Tourism

Awka, Anambra State – February 18, 2025 – Governor Charles Soludo of Anambra State welcomed a delegation led by Peng Yizhong, Chairman of the Board for Shanghai Jianhang Investment Company Ltd, to...

DeepSeek AI

DeepSeek AI: A Game-Changer in Global Technology

The Chinese-developed AI chatbot, DeepSeek, has disrupted the global tech industry, challenging the dominance of US companies like OpenAI. Released in January, DeepSeek quickly climbed to the top of Apple’s App Store...

Grain Prices Drop in Gombe

Grain Prices Drop in Gombe Amidst Low Demand

Significant Price Reductions in Gombe Markets Prices of key grains such as wheat, rice, and maize have fallen sharply in Gombe State, reflecting a market oversupply amidst reduced consumer demand. Traders in...

Naira Set to Fall to N1,993

Nigeria’s Inflation Rate Rises to 34.80% in December

Festive Spending Fuels Marginal Increase, Says NBS The National Bureau of Statistics (NBS) has announced a slight uptick in Nigeria’s inflation rate, which climbed to 34.80% in December 2024. This marks a...

Nigeria's GDP Calculations

Nigeria’s GDP Calculations: NBS Plans to Include Illegal Activities

Nigeria Adopts Broader Metrics for GDP Rebasing The National Bureau of Statistics (NBS) has announced plans to include illegal activities like drug peddling and prostitution in the calculation of Nigeria’s Gross Domestic...

Rising Food Prices

Rising Food Prices Defy Minister’s Promise

Six months after Nigeria’s Minister of Agriculture, Abubakar Kyari, vowed to reduce food prices within 180 days, the country is facing an alarming rise in food inflation. Despite his announcement in July...

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