Inflation in Nigeria is still climbing while it has slowed globally: here’s why

Inflation in Nigeria is still climbing while it has slowed globally: here’s why

By Stephen Onyeiwu, Allegheny College Just as Nigerians were gradually digging out from the devastating effects of the COVID-19 pandemic, they were hit by high inflation. The Nigerian economy contracted by 6.1% at the peak of COVID in the second quarter of 2020. Unemployment rate rose from 27% in the second quarter of 2020 to 33% in the fourth quarter of the same year. The World Bank estimated […]

March 14, 2024 22

Africa

African Development Bank warns of social unrest in Nigeria

The African Development Bank, ADB says rising prices of food and petrol could lead to social unrest in the country.

February 19, 2024 26

Business / Economics

Ministry of Mines and Energy concerned over sale of licenses

The Ministry of Mines and Energy on Monday cautioned individuals and entities that are selling licences and certificates issued by the ministry, indicating that they are doing so in contravention of the law as they are non-transferable. “The ministry has observed with deep concern the proliferation of advertisements on social media platforms wherein individuals or entities are offering to sell wholesale fuel licences and retail fuel licences and are marketing […]

November 21, 2023 23