The National Association of Proprietors of Private Schools (NAPPS) has raised concerns about school closures and student withdrawals due to the economic hardship in Nigeria Rising economic hardship is forcing many parents to shift their children from private to public schools, as they seek to manage the escalating costs of education and transportation. The National…
Nigeria’s currency faces severe depreciation, ranking as one of the worst-performing globally in 2024, with experts pointing to fiscal imbalances and low foreign reserves The Naira’s depreciation continues to raise concerns as it dropped further to N1,710 per dollar in the parallel market, making it one of the worst-performing currencies globally in 2024. This trend…
Nigeria’s Finance Minister confirms the removal of fuel and foreign exchange subsidies while outlining economic plans to alleviate hardship The Nigerian government has confirmed that fuel and FX subsidies removed will remain a permanent policy, according to the Finance Minister, Wale Edun. Speaking at the World Bank’s Nigeria Development Update presentation in Abuja, Edun emphasized…
Despite economic hardship, the World Bank sees encouraging progress from Nigeria’s recent fiscal policies and reforms While many Nigerians express concern over the economic challenges resulting from recent policy changes, Nigeria’s fiscal reforms show positive results according to the World Bank. The international institution reported that the country is beginning to experience the benefits of…
Senator Orji Kalu reveals that President Tinubu is aware of the economic struggles facing Nigerians and discreetly tours Abuja to assess the situation firsthand Orji Kalu, the senator representing Abia North, has disclosed that President Bola Tinubu is fully aware of the economic difficulties currently being faced by Nigerians. According to Kalu, Tinubu makes efforts…
Governor Bala Mohammed of Bauchi State disputes the effectiveness of Nigeria’s economic reforms, calling for urgent policy reviews to address rising inflation and public hardship In a direct challenge to the World Bank’s stance, Bauchi State Governor Bala Mohammed has expressed strong dissatisfaction with the Federal Government’s economic reforms, claiming they are not delivering the…
The World Bank emphasizes the importance of supporting Nigeria’s economic reforms to ensure long-term stability and growth The World Bank has called on Nigerians to fully support the ongoing economic reforms in Nigeria, cautioning that any opposition or reversal could have severe consequences for the nation’s economy. Speaking at the launch of the Nigeria Development…
Despite the absence of Nigeria’s President and Vice President, Senate President Akpabio and top officials maintain leadership responsibilities In the ongoing absence of President Bola Ahmed Tinubu and Vice President Kashim Shettima, leadership during Tinubu and Shettima’s absence remains a topic of national discussion. The Presidency has named Senate President Godswill Akpabio, Secretary to the…
In a significant development aimed at easing the economic pressure on Nigerians, the Federal Government and the Organized Labour have agreed on concrete steps to reduce transport fares and the prices of essential commodities, especially food. This was a key outcome of a meeting held on Wednesday in Abuja, with both sides focusing on how…
Governor Sanwo-Olu reveals Lagos State will implement an N85,000 minimum wage, surpassing the federal benchmark of N70,000 Governor Babajide Sanwo-Olu has announced that Lagos State will implement a new minimum wage of N85,000 for its workers. This significant Lagos minimum wage increase was disclosed during a recent interview on Channels TV, where the governor discussed…
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