Special Reports

The Nigerian Economic Summit Group (NESG) has said the economic situation in Nigeria presently is scary. The private sector-led think tank group said the country needs to take bold and decisive steps to address the challenges. Chairman of the NESG, Niyi Yusuf, at a pre-summit news conference in Abuja on Friday, noted that one of Nigeria’s pressing concerns now is translating economic growth into improved lives and livelihoods for all its citizens. Recalling the numbers from the country’s second-quarter 2024 gross domestic product (GDP), Yusuf, who was represented by Ufot Udeme, said that in Q2-2024 Nigeria’s economy recorded a fast…
Families and operators of businesses in the country have continued to decry the recent hike in petrol prices as they grapple with the escalating cost of living amid widespread discontent in the country. The 50 percent increase in petrol price has rippled through the economy, driving up prices of essential goods and services, and exacerbating financial hardships for many. The price hike, which came into effect last week, has seen petrol prices soar to record highs of between N850/litre and N1,400 per litre depending on the area, adding to the already mounting pressure on household budgets. Owing to the hardship…
On Tuesday, Aliko Dangote showed off the new colourless petrol from his refinery — a stark contrast to the colour which Nigerians are used to, which is typically yellowish or reddish-pink. This made people question the quality of petrol in Nigeria. “You might think it looks different, but this is the real thing,” Dangote said,while pointing at the bottle. “You will now have good petrol and your car engines will last longer. You won’t have engine problems like we used to. It won’t happen at all. “The quality here is as good as anywhere in the world. We will make…
A building has collapsed in Nigeria’s megacity, Lagos, once every two weeks on average so far this year. Whereas the commercial cost can be calculated, a figure can never be put on the value of the lives lost underneath the rubble. The gaps among the buildings, replaced by piles of debris, represent a failure of governance as well as giving rise to allegations of contractors trying to cut corners to save money. There are regulations, there are maintenance schedules, there are inspectors – but the system does not work. Those responsible are never held to account, and so nothing ever…
Divorce.com, a United States website which offers resources and support for navigating divorce, has included Nigeria on its list of countries with high divorce rates. According to data published on their website in July, Nigeria ranked eleventh out of twenty-six countries with the highest divorce rate. The results were obtained after sampling respondents from these countries and compiling statistics from 16 primary sources, ensuring a comprehensive and reliable research process. The report also revealed a significant trend. Women in sub-Saharan Africa, especially Nigeria, are taking the initiative in divorce more often than men, a reflection of changing gender dynamics. According…
Nigerians are bracing for tough months ahead, with many planning to rely on borrowing and depleting their savings to manage their financial obligations amid a challenging economic landscape. This is according to the Central Bank of Nigeria’s (CBN) July 2024 Household Expectations Survey, which highlights growing consumer pessimism about the nation’s economic trajectory. The survey, which involved 1,665 households from across Nigeria, reveals a stark decline in consumer confidence, with the overall confidence index for the next three months standing at a negative 9.1 points. This figure reflects a significant level of anxiety among consumers who anticipate a continued decline…
Established as referral health facilities, with adequate and qualified health professionals, most teaching hospitals in Nigeria have fallen short of the expectations of those that are in need of healthcare services. The teaching hospitals are burdened by unreliable and high costs of electricity supply to power diagnostic equipment. Medical equipment in most of the facilities are either obsolete, malfunctioning or lack maintenance where they exist. The hospitals are poorly funded, resulting in health workers leaving the country in search of alternative means of living. Their patients groan in pain; and in most cases, the doctors and nurses watch helplessly. In…
From schoolchildren to VIPs, no one is safe from the pervasive menace of kidnapping ravaging the entire length and breadth of the country. Despite efforts from security agencies, gunmen still loom large on the horizon, as Nigerians live in constant fear of the unknown. Kidnapping has become one of the most pressing security concerns in Nigeria. The criminal enterprise touches every corner of the country. Abduction for ransom was rare until the emergence of Niger Delta militants in the early 2000s. The militants engaged in various forms of criminal activities under the pretence of resisting environmental degradation and absence of…
Africa has the youngest population of any continent, and recent protests in Kenya, Nigeria and Uganda suggest growing youth disillusionment. Will they be able to turn discontent into action? The youth-led protests that have broken out in several African countries over the past weeks should, say observers, serve as warnings that a disillusioned generation blame the elders of the ruling political classes for missed economic opportunities. From mid-June to early August, young people in Kenya hit the streets protesting against what they described as runaway corruption and high taxes levied by President William Ruto’s regime. In Uganda, what was shaping…
This comparison reveals a stark contrast between the situations of minimum wage workers in London and Abuja, particularly in terms of transportation costs and their impact on workers' lives and the broader economy. Let's break it down: 1. Economic Context: - London, UK: - Monthly Minimum Wage: £1,830.40. - Living Conditions: London is one of the most expensive cities globally, with high costs for housing, transportation, and other essentials. The minimum wage in London is higher compared to other regions in the UK due to the elevated cost of living, but this wage is still considered low relative to the…
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September 19, 2024

Independent marketers shut out as major marketers begin lifting petrol from Dangote Refinery

The Nigerian National Petroleum Company Limited, NNPCL, has authorised major petroleum marketers to commence lifting…
September 16, 2024

Trump survives another assassination attempt, suspect arrested

Republican presidential candidate Donald Trump was safe on Sunday after the Secret Service foiled what…
September 14, 2024

Ancient wall carvings suggest women used 'modern' accessory 12,000 years ago

Researchers have discovered ancient wall carvings depicting what appeared to be handbags designed with a…
September 18, 2024

Zimbabwe to slaughter 200 elephants to feed hungry citizens

Zimbabwe plans to cull 200 elephants to feed communities facing acute hunger after the worst…
September 16, 2024

Nearly 300 prisoners escape Maiduguri prison after floods

Devastating floods collapsed walls at a jail in Maiduguri in northeastern Nigeria early last week,…
September 19, 2024

Here’s the latest as Israel-Hamas war enters Day 349

Hezbollah devices explode again in Lebanon, raising fears of wider Israel conflict Hand-held radios used…
August 28, 2024

New study says China uses 80% artificial sand. Here’s why that’s a big deal

The world is running out of sand. About 50 billion tons of sand and gravel…
August 31, 2024

3 days after NFF’s announcement, Labbadia rejects offer to coach Super Eagles

Bruno Labbadia has rejected his appointment as the new head coach of Super Eagles of…

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