The International Labour Organisation (ILO) predicts an increase in global unemployment. The ILO report highlights concerns about growing inequalities and stagnant productivity. There is a notable increase in the number of workers living in extreme and moderate poverty. Eko Hot Blog reports that the International Labour Organisation (ILO) has forecasted a potential increase in global … Read more
Eko Hot Blog reports that Abdullahi Ganduje, the National Chairman of the All Progressives Congress (APC), has responded to the demolitions conducted by State Governor Yusuf Abba, expressing confidence that when the APC regains power, it will restore order to the state’s business community. EDITOR’S PICKS Police Investigate Alleged Poisoning Of Tinubu’s Minister Reactions As … Read more
Eko Hot Blog reports that BUA Cement Plc has announced plans to reduce the price of cement in Nigeria from the current N5,500 to between N3,000 and N3,500. The company’s Chairman, Abdul Samad Rabiu, disclosed this to journalists after an audience with President Bola Tinubu at the State House, Abuja. Rabiu said the price crash … Read more
Eko Hot Blog reports that the governor of Anambra State, Charles Soludo has said that it is high time Nigerians realize that they live in a poor country and act accordingly. He insisted that those in leadership positions must begin to show the citizenry that Nigeria is a poor country by living within their means. … Read more
Eko Hot Blog reports that as part of efforts to ease the burden caused by economic hardship on corps members, Kaduna State Coordinator of National Youth Service Corps (NYSC), Hassan Taura, said the Federal Government has upwardly reviewed their feeding allowance. The coordinator, while fielding questions from journalists, after swearing in the 2023 Batch ‘B’ … Read more
Eko Hot Blog reports that the Director General of the World Trade Organization (WTO), Ngozi Okonjo-Iweala, on Tuesday, met with President Bola Tinubu at presidential villa, Abuja, where she revealed that the president is not unaware of the pains Nigerians are undergoing at the moment. Okonjo-Iweala, who was accompanied to the Villa by former Minister … Read more
By Judith Ukoh It’s been one week since President Tinubu’s declaration on fuel subsidy removal triggered a hike in fuel price. Since that time, some Nigerians have bemoaned the cruel impact on the cost of living, while others have backed the move. The top labour unions in the country are threatening a nationwide strike as … Read more
President Tinubu triggered a hike in the pump price for fuel after declaring “subsidy is gone.” The declaration made filling stations start selling petrol at an average price of N500 per litre. The situation has forced a threat of a strike action from the leading labour group in the country. Eko Hot Blog reports that … Read more
The Budget Office of the Federation has warned about Nigeria’s limited borrowing space. The country already has a poor debt-to-revenue ratio, which may lead to financial crisis if exceeded. Despite having a low debt-to-GDP ratio, Nigeria’s debt service ratio is too high as revenue is too small to sustain its debt. EKO HOT BLOG reports … Read more
She reassured members of Congress that the U.S. financial system remains strong Biden is proposing higher taxes on the wealthy to help shore up Social Security and Medicare Yellen is likely to face questions about U.S. banks’ exposure to Credit Suisse Eko Hot Blog reports that In the wake of regulators’ decision to shut down … Read more
Nigeria’s inflation rate has jumped to 21.82% in 2023 amid the Naira scarcity. This represents a 0.47% increase when compared to the 21.34% recorded in the previous month. The highest increases were recorded in prices of Gas, Liquid Fuel, Passenger Transport by Air, Vehicles Spare Parts, Fuels, Lubricants for Personal Transport Equipment, Solid Fuel, etc. … Read more
A representative of Jigawa beggars says the new naira notes are creating a lot of difficulties in their business. The Jigawa indigene notes the significant drop in alms given to the poor following the new naira debacle with the banks. Another woman shares how feeding has become difficult for her and her children with only … Read more
The CBN is set to phase out the use of the old N200, N500, and N1,000 notes from February 1, 2023. The apex bank has resisted various calls to extend the deadline despite the shortage of the new notes. The situation has elicited a reaction from the president who is assuring Nigerians that they will … Read more
Argentina saw prices almost double last year as the country’s annual inflation rate hit its highest level in more than 30 years. Eko Hot Blog reports that Official figures show consumer prices jumped by 94.8% in the 12 months to the end of December. EDITOR’S PICKS US: Justice Department Investigates Potentially Classified Files Found In … Read more
A sharp drop in energy prices, in particular petrol, is helping to ease cost-of-living pressures in the US. Eko Hot Blog reports that US inflation was 6.5% over the 12 months to the end of December, down from 7.1% in November, the US Labor Department said. That was the smallest increase in more than a … Read more
The global economy is “perilously close to falling into recession,” according to the latest forecast from the World Bank. Eko Hot Blog reports that it expects the world economy to grow by just 1.7% this year – a sharp decrease from the 3% it predicted in June. EDITOR’S PICKS US: Justice Department Investigates Potentially Classified … Read more
A third of the global economy will be in recession this year, the head of the International Monetary Fund (IMF) has warned. Eko Hot Blog reports that Kristalina Georgieva said 2023 will be “tougher” than last year as the US, EU, and China see their economies slow. EDITOR’S PICKS US: House Of Reps Bans TikTok … Read more
The Nigerian National Petroleum Company (NNPC) has revealed the volume of fuel available as fuel scarcity hits major states in Nigeria. EKO HOT BLOG reports that the Nigerian National Petroleum Company Limited (NNPC) disclosed that it has two billion litres of Premium Motor Spirit in stock. EDITOR’S PICKS Anxiety As Report Reveals How Price Of … Read more
The price of Kerosene has increased by 9.90 percent between September and October 2022. EKO HOT BLOG reports that the National Bureau of Statistics (NBS) disclosed that consumers’ average retail price of household kerosene increased by 9.90 percent. EDITOR’S PICKS Tragedy As Police Allegedly Shoot Prince To Death In Osun, Four Injured PHOTOS: Police Arrest … Read more
A viral video has shown damaged Naira notes stocked in bag bags in an unidentified place. EKO HOT BLOG reports that barely a week after the release of the newly redesigned naira notes by the Central Bank of Nigeria (CBN), bags of damaged old Naira denomination were discovered in a viral video. EDITOR’S PICKS Danger … Read more