Voice for the voiceless
President Bola Tinubu is set to meet with electricity generating companies (GenCos) over the alarming ₦4 trillion debt threatening Nigeria’s power sector. This move comes after high-level discussions between the Minister of Power, Adebayo Adelabu, and the leadership of the GenCos in Abuja, according to a statement issued on Sunday by Bolaji Tunji, Special Adviser…
Nigeria’s headline inflation rate has declined to 33.40% in July 2024, down from 34.19% in June 2024, marking the first decrease since December 2022, when it was 21.34%. According to the National Bureau of Statistics (NBS), this represents a drop of 0.79 percentage points from June 2024. However, on a year-on-year basis, this figure is…
Nigeria’s external reserves have decreased by 0.68% to $36.620 billion as of August 12, 2024, down from $36.872 billion on August 7, 2024, according to the Central Bank of Nigeria (CBN). This decline follows an increase to $37.88 billion on July 15, 2024, from $34.76 billion at the end of June 2024. In its inaugural…
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, stated that he and his team are not responsible for the current economic challenges faced by the country. He made this remark on Tuesday in Abuja during the first Monetary Policy Committee (MPC) meeting since he assumed office in September 2023. The CBN Governor…
On the eve of a planned nationwide protest, the Nigerian Labour Congress (NLC) met with representatives from the Federal Government at the State House in Abuja. The meeting, which was hosted by the Secretary to the Government of the Federation, George Akume, was not open to the media. It ended in a stalemate with no…
Former Governor of Ekiti State, Ayodele Fayose, has commended President Bola Tinubu’s efforts to solve Nigeria’s socio-economic challenges, despite the fact that he inherited a “dead economy”. Fayose noted that Nigeria is facing rising inflation, food inflation, forex crisis, economic hardship, and high cost of living due to the removal of petrol subsidy. However, he…
The Nigeria Labour Congress has accused the Department of State Services (DSS) of assuming the role of the government’s spokesperson. The NLC criticized the DSS’s appeal to prevent the planned protest against the economic situation and cost of living crises. The NLC had previously issued a 14-day ultimatum to the Federal Government, calling for the…
NARTO members had threatened to shut down operations nationwide starting Monday due to the high cost of Automotive Gas Oil, also known as Diesel. The Nigerian Association of Road Transport Owners (NARTO) has now called off its strike. NARTO’s National President, Othman Yusuf, instructed members to resume petroleum loading activities immediately after a meeting in…
Most IPMAN stations are currently closed due to low product supply, while those that are open are selling petrol for no less than ₦650 per litre. Black market traders are exploiting the recent tanker drivers’ strike, causing the price of petrol to soar to ₦1000 per litre in some areas of Lagos. It was observed…
Cement manufacturers in Nigeria have agreed to reduce the price of cement to between N7,000 and N8,000 per 50kg depending on the location nationwide. The decision was made at a meeting between the Federal Government and the manufacturers, which was called by the Minister of Works Senator David Umahi in Abuja. The manufacturers expressed their…
During a thanksgiving service by Senator Barinada Mpigi in Koroma, Tai Local Government Area of Rivers State, the Senate President, Godswill Akpabio, spoke about the state of Nigeria’s economy. Akpabio claimed that the current administration led by President Bola Tinubu inherited a Nigerian economy in a mess, which he said was caused by policies carried…
Nigeria has experienced an 11-month consecutive increase in inflation, reaching a new peak in December 2023, as reported by the National Bureau of Statistics (NBS). Rising prices of food and other commodities in the market have been a cause of concern for Nigerians. However, the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso,…
The cost of living in Nigeria has been increasing due to the removal of fuel subsidies and the floating of the naira. This has resulted in a higher inflation rate, making it challenging for people to manage their expenses. However, the country’s economic managers, including the CBN governor Yemi Cardoso, Minister of Finance and Coordinating…
