Tag: Economic hardship

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

Aminu Imam
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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Marketers worsen economic hardship over fuel, gas prices hike

Aminu Imam

Nigeria’s downstream petroleum sector is currently under siege from powerful oil cartels taking advantage of a temporary disruption in the supply of petrol and Liquefied Petroleum Gas (cooking gas) to the Nigerian market to inflate prices, findings have revealed. Many marketers, including filling stations and tank farm owners, checks revealed, have created artificial scarcity in an attempt to make huge profit from the limited products supplied into the market by Ɗangote Refinery, which has been battling to repair some faulty parts of the plant that have prevented it from attaining…

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‘139m Nigerians now in poverty despite reform gains” – World Bank

Aminu Imam
W'Bank on 9ja poverty

The World Bank has expressed concern that despite Nigeria’s recent economic stabilisation efforts, about 139 million citizens are now living in poverty, warning that the country risks losing reform gains if they fail to translate into tangible improvements in people’s welfare. The World Bank Country Director for Nigeria, Mathew Verghis, disclosed this yesterday in Abuja, at the launch of the October 2025 Nigeria Development Update titled: “From Policy to People: Bringing the Reform Gains Home”. The Nigeria Development Update is the bank’s biannual flagship report that reviews economic trends, policy…

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Hardship: “We are seeing light after the tunnel”-Tinubu tells Nigerians

Aminu Imam
Screenshot 20250927 064239

President Bola Tinubu has declared that the nation’s economy had turned the corner for good, following the success of the economic reforms introduced by his administration over two years ago, adding that Nigeria’s economic suffering is now a thing of the past. The President stated this yesterday at the Mapo Hall, Ibadan, Oyo State capital, during the historic coronation of His Imperial Majesty, Oba Adewolu Ladoja, the 44th Olubadan of Ibadanland. The President’s address was a blend of felicitations for the new monarch and a hopeful message for the Nigerian…

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UN lists Nigeria as ‘hunger hotspot’

Aminu Imam
UN lists Nigeria

…Warns acute food insecurity will worsen in North The United Nations (UN) yesterday reported that extreme hunger is intensifying in 13 global hot spots, with Gaza, Sudan, South Sudan, Haiti, and Mali at immediate risk of famine without humanitarian intervention. The “Hunger Hotspots” report by the UN Food and Agriculture Organisation (FAO) and World Food Programme (WFP) blamed conflict, economic shocks, and climate-related hazards for conditions in the worst-hit areas. The report cited insecurity in northern Nigeria, which it said “is expected to deteriorate, with escalating violence driving further civilian…

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“Cut fuel power costs now; ease hardship and tackle corruption” – PDP to Tinubu

Aminu Imam
Screenshot

The Peoples Democratic Party, (PDP), has decried the growing hardship and level of poverty in the country. National Publicity Secretary of the party, Debo Ologunagba, in an issued statement  on Friday, said that now is the time for President Bola Tinubu to review all the policies negatively affecting the people. According to Ologunagba, it is important for the Tinubu-led administration to as a matter of urgency reduce the cost of living by reducing electricity tariffs, the price of fuel and other charges and services affecting the Nigerian populace.  Also celebrating…

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“Your policies lack human face” – UN, ILO, others tell Tinubu

Aminu Imam
UN, others tell Tinubu

…Urges FG to address 60% poverty rate The United Nations (UN) Country Representative to Nigeria, Mohammed Fall, has faulted the economic policies of the Tinubu administration for their alleged lack of a human face. Fall, who stated this at the Global Coalition for Social Justice conference in honour of the visiting Director-General of the International Labour Organisation (ILO), Gilbert Houngbo, said irrespective of the praise singing of Government agencies, some of the economic policies of the Tinubu administration lack human face, and require urgent steps to address the country’s 60%…

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