Businessman Expresses Concern Over Rising Business Costs in Nigeria
A Nigerian businessman recently took to social media to express his frustration over the steep increase in business costs across the country. In a video he posted, he described how things have changed drastically over the past few years. He recalled that back in 2018, he used N2.4 million to buy 800 bags of groundnuts. […]
Don’t Reverse Current Reforms, World Bank Tells FG
The World Bank has advised the federal government not to reverse the ongoing economic reforms. According to the World Bank, rolling back these changes could lead to negative consequences for Nigeria’s economy. One of the key reforms, the removal of fuel subsidies, along with the end of multiple exchange rate systems, were policies introduced by […]
Higher Interest Rates Are Difficult for Borrowers But Essential for Controlling Inflation – Cardoso
The Central Bank of Nigeria (CBN) has recently taken a decisive step to combat rising inflation by raising the Monetary Policy Rate (MPR) to 27.25%. This bold move, announced by Governor Olayemi Cardoso, reflects the bank’s commitment to addressing the economic challenges facing the country. While this decision may be painful for borrowers, Cardoso insists […]
Naira Ranks Among World’s Worst Performing Currencies
Recent reports have highlighted a troubling trend for the Nigerian naira, which has been listed among the ten worst performing currencies in the world, according to Bloomberg. This ranking reflects broader economic challenges faced not only by Nigeria but also by several other African nations. In the global economy, currency performance is often a reflection […]
We Will Do Everything to Save Nigeria – VP Shettima
Vice President Kashim Shettima has assured Nigerians that the government is dedicated to protecting the nation from failure. He emphasized that President Bola Ahmed Tinubu’s administration will do whatever is necessary to prevent Nigeria from collapsing. Shettima made this statement during the 17th Annual Banking and Finance Conference in Abuja, organized by the Chartered Institute […]
Man Responds as His Predictions for Nigeria Come True, Leading Nigerians to Request More Forecasts
In April 2023, a data analyst shared some bold predictions about Nigeria’s future on X. He forecasted that the removal of the fuel subsidy would lead to record-breaking inflation, cause many companies to fail, and force the government to raise taxes to replace lost revenue. Fast forward to September 2024, and his predictions have largely […]
Why Cement Prices in Nigeria May Remain High
Nigerians hoping for a reduction in cement prices might be disappointed due to several economic factors. The depreciation of the Naira and rising inflation are major contributors to the high cost of cement. One significant issue is smuggling. Cement is being smuggled into neighboring countries like Chad and Cameroon, where a 50kg bag can cost […]
Nigerian Government Holds Emergency Meeting Over Planned August 1 Protest
The Nigerian government has called for an urgent meeting with ministers to discuss the nationwide protest planned for August 1, 2024. This meeting, set for July 24, 2024, at 10 am, will take place at the Office of the Secretary to the Government of the Federation Conference Room. President Bola Ahmed Tinubu, through the Minister […]
Tinubu Asks Nigerians to Cancel Planned Protest Against Bad Governance
President Bola Tinubu has made a public appeal to Nigerians, urging them to cancel a planned protest against bad governance. The protest is scheduled to begin next month and has gained significant support on social media. Government’s Request for Patience Information Minister Mohammed Idris conveyed the President’s message after a meeting at the State House […]
US Election: Trump Criticizes Biden Over Inflation
Former US President Donald Trump has accused President Joe Biden of causing economic hardship for Americans through his policies. According to Trump, Biden’s handling of the economy has led to significant inflation, making life difficult for many. Trump asserted that Biden has mismanaged the US economy, resulting in disastrous inflation rates. He highlighted that the […]