Naira Drops On Parallel Market To N2,000/1£
The local currency in Nigeria (Naira) is currently trading at over 2,000 Naira against the British pound in the parallel market Malam Ibrahim, a Bureau de Change operator in Wuse Zone 4, verified the rates on Monday, February 19. He said: “Yes it is true, we are currently selling above N2,000 for the pounds and it is still about the heavy...
Emefiele Responsible For Economic Rot, Nigerians Should Be Patient — Akpabio
The Senate President, Godswill Akpabio, says the current administration led by President Bola Tinubu met the Nigerian economy in a mess which he claimed was caused by policies carried out by former governor of the Central Bank, Godwin Emefiele. The Senate President spoke during a thanksgiving service by Senator Barinada Mpigi in Koroma, Tai Local Government Area of Rivers State...
Minister Says FG Can’t Continue Payment On Electricity Subsidy
The Minister of Power, Adebayo Adelabu, says Nigeria cannot continue to subsidise electricity, adding that the nation must begin to move towards a cost-effective tariff model, as the country is currently indebted to the tune of N1.3 trillion to generating companies (GenCos) and $1.3 billion owed gas companies Adelabu addressed a press conference in Abuja on Wednesday and said only...
Increasing Hardship: Nigeria Sitting On Keg Of Gunpowder — Sultan of Sokoto
The Sultan of Sokoto and Chairman of the Northern Traditional Rulers Council, Muhammad Sa’ad Abubakar III, has expressed fear that with millions of Nigerian youths left without jobs and food, Nigeria is sitting on a keg of gunpowder. This came two days after the Emir of Kano, Alhaji Aminu Ado Bayero, had decried the ravaging hunger and starvation in the...
Hardship Comment: APC Governors Caution PDP Against Inciting Nigerians Against Govt
The Progressive Governors’ Forum has cautioned their counterparts in the Peoples Democratic Party (PDP) against utterances and actions capable of inciting the masses against the Federal Government. In a statement in Abuja on Tuesday, the Chairman of the Progressive Governors’ Forum and Governor of Imo State, Senator Hope Uzodinma said the economic and security challenges confronting the nation needed a...
FG Moves To Regulate Prices Of Goods As Hardship Bites Harder
The federal government has said plans are in the works to establish a National Commodity Board as a solution to the escalating food prices in the country. The commodity board will be expected to assess and regulate food prices, as well as maintain a strategic food reserve for stabilizing prices of crucial grains and other food items. Vice President Kashim Shettima...
FG Blasts PDP Governors Over Comment On Hardship In Nigeria, Says Party Part Of The Problem
The Federal Government has blamed the governors elected on the platform of the Peoples Democratic Party (PDP) for the economic hardships Nigerians are facing. ”It is a fact that many of the PDP Governors have not paid N30,000 minimum wage to their workers since it took effect more than 4 years ago. All of these anomalies in their states contribute...
Buhari’s Policies Responsible For Hunger In The Land, Don’t Blame Tinubu — Oshiomhole
Nigerians are still bearing the effects of the policies of ex-President Muhammadu Buhari, Adams Oshiomhole, senator representing Edo North Senatorial District, has said. Some of the policies introduced by the President Bola Tinubu-led government have led to hardship, especially the removal of petrol subsidy, which tripled the pump price of fuel. But the president has repeatedly told Nigerians that there were...
Nigerians Groan As Bag Of Rice Hits N77,000
This is not the best of times for Nigerian families, who have had to adopt bizarre cost-cutting measures to cope with the recent hardship occasioned by the dramatic hike in the prices of goods and services. Several of them lamented that their income could no longer take care of their daily needs, adding that the prices of staples had almost...
Pensioners Threaten Naked Protest Over Escalating Prices Of Goods
The Nigeria Union of Pensioners says its members will take to the streets naked, if the welfare of pensioners in the country does not improve significantly any time soon. The National President of the union, Godwin Abumusi, told journalists at a news briefing in Abuja on Friday that his union will take the action to draw the attention of the...
