Tag: Economic hardship

IMF warns of tougher economic times for Nigerians

Aminu Imam
IMF warns Nigerians on economic times

The International Monetary Fund (IMF), has warned that Nigerians may face tougher economic conditions in the near-term, as rising food and transportation costs continue to squeeze household incomes amid lingering global shocks. The Fund also raised concerns about Nigeria’s growing debt burden, even as crude oil prices surged above $113 per barrel in the international market, offering potential upside for government revenue. The price rally, driven partly by uncertainties around US–Iran peace talks linked to Middle-East tensions, has created expectations of stronger oil earnings for Nigeria. At current levels, Nigerian…

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Fuel Price: Nigerians watch incomes vanish into transport costs

Aminu Imam
Nigerians lament fuel price hike

Aminu Imam By April 2026, the daily routine of millions of Nigerians has quietly turned into a struggle for survival. At dawn in Abuja, bus stops begin to fill long before sunrise. Civil servants, traders, artisans, and students gather in silence, each calculating how much of their earnings will disappear before the day even begins. For many, getting to work now feels like the biggest expense of living. The sharp rise in fuel prices has triggered a chain reaction across the economy. Petrol now sells between ₦1,300 and ₦1,450 per…

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Double hardship: Nigerians battle blackouts, as petrol hits ₦1,500

Aminu Imam
Nigerians battle hardship

Nigerians are facing deepening economic hardship, as rising global oil prices, triggered by the ongoing Middle-East conflict involving the United States, Israel and Iran, push domestic petrol prices to about ₦1,500 per litre, while electricity supply remains erratic. The surge in crude oil prices above $100 per barrel, worsened by disruptions around the Strait of Hormuz, has driven-up fuel costs across Nigeria, with prices rising sharply from about ₦800 in late February. Across the country, households and businesses are grappling with a dual crisis of expensive fuel and prolonged power…

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Palm Sunday: “Nigerians suffering; show empathy, ease the burden” – CAN tells leaders

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CAN on Palm Sunday

As Christians all over the world mark the celebration of Palm Sunday to remember the triumphant entrance of Jesus Christ into Jerusalem, the Christian Association of Nigeria, (CAN), has called on leaders in the country to show empathy and ease the burden of Nigerians. The apex Christian body noted that Jesus entering into Jerusalem was not a show of force, but a message of peace, purpose, and hope, adding that in a tense atmosphere, the saviour chose humility; riding on a colt, not in the trappings of power. “That choice…

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“Poor leadership to blame for Nigeria’s hardship, insecurity” – Catholic Bishops

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Catholic Bishops

The Catholic Bishops’ Conference of Nigeria (CBCN) has blamed Nigeria’s deepening economic crisis and persistent insecurity on poor leadership and a flawed understanding of politics. In a communiqué issued on February 26 at the end of their first plenary meeting of the year, the bishops said the nation’s challenges stem largely from what they described as a “wrong idea of politics” that prioritises election rigging and personal gain over service to the people. The weeklong meeting was held at the Catholic Secretariat of Nigeria Resource Centre in the Abuja Archdiocese.…

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‘Over 140m Nigerians may become poorer by December’ – PwC

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PwC on poverty

Poverty levels in Nigeria are expected to worsen significantly over the next two years, with as many as 141 million Nigerians, representing about 62% of the population, projected to be living in poverty by 2026, according to PricewaterhouseCoopers (PwC). The projection is contained in PwC’s Nigeria Economic Outlook 2026, released yesterday titled: ‘Turning Macro-economic Stability into Sustainable Growth’, which warns that recent policy adjustments aimed at stabilising the economy are yet to translate into tangible welfare gains for households. PwC noted that weak real income growth, combined with persistently high…

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Nationwide protest kicks-off, as NLC warns of ‘worst survival crisis’ in history

Aminu Imam
NLC Nationwide protest

The Nigeria Labour Congress (NLC) yesterday led nationwide protests across Abuja, Lagos, Anambra and several other states, warning that Nigerians are facing the worst survival crisis in the country’s history amid worsening insecurity, soaring inflation and collapsing living standards. The demonstrations went ahead despite a late-night meeting between President Bola Tinubu and NLC leaders on Tuesday, which labour officials said failed to yield concrete commitments capable of halting the action. NLC President, Joe Ajaero, led the Abuja protest, joined by civil society activists, including Omoyele Sowore and members of the…

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Hardship: ‘Over 60,000 bakeries shut down in 4yrs’

Aminu Imam
Screenshot 20251116 232616

The president of the Premium Breadmakers Association of Nigeria (PBAN), Engr. Onuorah Emmanuel, has raised the alarm over the worsening economic conditions crippling the baking industry. He revealed that more than half of bakeries belonging to his members alone have shut down in recent years due to skyrocketing production costs, high interest rates, and insecurity. Speaking during the PBAN’s ‘Day Out 2025’, which was held in Lagos with the theme: “The Business of Baking: Pathways to Profit, Productivity and Growth”, Emmanuel painted a bleak picture of the sector, lamenting that…

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Nigeria’s social protection budget allocation has no impact on poverty alleviation’ — W’Bank

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W'Bank on poverty

Nigeria’s barely 0.14 percent budgetary allocation of its Gross Domestic Product (GDP) on social protection is far below the global average of 1.5% and the sub-Saharan African average of 1.1%, and has had no effect on poverty, so far.  The World Bank, in a new report titled: “The State of Social Safety Nets in Nigeria”, on Tuesday, noted that the tiny allocation, which is a combined effect of all existing social protection programmes in the country, the bank warned, has reduced the national poverty headcount by just 0.4 percentage points.…

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Hardship: Senate moves to increase soldiers salary

Aminu Imam
Senate moves

Worried by the rising cost of living and worsening economic hardship, the 10th Senate has urged the Federal Government to consider reviewing upward the minimum wage and salary structure of the men and women of the Nigerian Armed Forces in line with current realities. Former Senate Chief Whip, Senator Ali Ndume, raised the Motion, titled: ‘Urgent Need to Increase the Minimum Wage and Improve Conditions of Service for Members of the Nigerian Armed Forces and Other Security Agencies’, yesterday. In the Motion, Ndume said the nation’s troops and security operatives…

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