Nigeria’s headline inflation rate rose to 34.60% in November 2024, up from 33.88% in October, according to the latest Consumer Price Index (CPI) report from the National Bureau of Statistics (NBS). EKO HOT BLOG reports that November figure represents a 0.72 percentage point increase from the previous month. On a year-on-year basis, the headline inflation … Read more
Ghana’s Vice-President, Mahamudu Bawumia, has conceded defeat in Saturday’s election and extended his congratulations to opposition candidate and former President John Mahama on his victory. “The people have voted for change,” Bawumia stated, acknowledging the electorate’s decision amid Ghana’s most severe economic crisis in decades, which led to the nation defaulting on its debt. EDITOR’S … Read more
Former Minister of Health, Onyebuchi Chukwu, has expressed concern over the ruling All Progressives Congress (APC)’s failure to address the economic hardships faced by Nigerians. He criticized the Federal Government for not implementing adequate short- and medium-term solutions to alleviate the economic strain 15 months after the sudden removal of the petrol subsidy. EDITOR’S PICKS … Read more
The Yoruba Council of Elders (YCE) has voiced concern over the nation’s current state, urging President Bola Tinubu to address the widespread hardship facing Nigerians In a statement by its General Secretary, Oladipo Oyewole, the YCE acknowledged hope for a positive turnaround but stressed that “there is currently a lot of suffering in the land.” … Read more
Primate Elijah Ayodele, the Leader of INRI Evangelical Spiritual Church, has issued a stern warning to President Tinubu, urging him to take immediate action to prevent a massive protest that could cripple the Nigerian economy for two weeks. In a statement signed by his media aide, Osho Oluwatosin, Primate Ayodele emphasized that confusion will continue … Read more
The PDP has urged the APC-led government to review its harmful policies, accusing it of causing nationwide protests due to arrogance and insensitivity to citizens’ hardships. EKO HOT BLOG reports that the People’s Democratic Party (PDP) has called on the All Progressives Congress (APC)-led Federal Government to immediately review its anti-people policies that are “suffocating life … Read more
The Federal Government has reduced allowances for Nigerian scholars abroad by 12.7%, citing economic crises, with students reporting unpaid stipends for eight months. EKO HOT BLOG reports that the Federal Government, through the Federal Ministry of Education, has announced a 12.7% reduction in allowances for foreign scholars currently stranded in countries such as Russia, Morocco, and … Read more
Presidency Denounces New York Times’ Report, Says Tinubu Inherited Dead Economy. The government defends recent policy measures, such as ending the fuel subsidy and unifying exchange rates, as necessary steps to stabilize the economy and restore confidence. The Presidency highlights positive developments like trade surplus, foreign investment, and efforts to control inflation, particularly food prices, … Read more
FG Speaks On Food Inflation, Reveals When Prices Will Drop. Government allocates special funds for infrastructure to bolster agriculture. Edun underscores global issue of food insecurity. EKO HOT BLOG reports that the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, assures Nigerians of forthcoming reductions in food prices. Edun elaborates on the government’s … Read more
Nigerian students in UK seek aid from food charity. Thornaby’s Sprouts Community Food Charity (SCFC) sees 75% increase in student clients. Teesside University recruits Nigerian students despite economic crisis. EKO HOT BLOG reports that An economic crash in Nigeria has left Nigerian students in the UK, especially at Teesside University, struggling to afford tuition and living … Read more
Deputy Speaker Kalu defends Tinubu, stating he’s not responsible for Nigeria’s current economic crisis. Kalu asserts Tinubu is working to rectify past administration’s mistakes. He urges Nigerians to maintain faith in leadership. EKO HOT BLOG reports that Deputy Speaker Benjamin Kalu has asserted that President Bola Tinubu is not to blame for the present economic crisis … Read more
EKO HOT BLOG reports that Vice President Kashim Shettima has urged Nigerians to be mature and responsible about expressing their grievances against the Federal Government. Shettima stated this at the 29th pre-Ramadan lecture organised by the University of Lagos (UNILAG) Muslim Alumni. The Vice President, who was represented by his special adviser on political matters, Hakeem … Read more
EKO HOT BLOG reports that the Labour Party (LP) Presidential Candidate in the 2023 election, Peter Obi, has sent a message to the Nigerian youths amidst the economic crisis plaguing the nation. He praised the youths for their tenacity and courage, especially during the election period. EDITOR’S PICKS A Nation at Crossroads: Balancing Health and Hardship … Read more
Eko Hot Blog reports that the Minister of Finance, Wale Edun, along with the Minister of Budget and National Planning, Atiku Bagudu, has reassured Nigerians that the current surge in living expenses is being tackled. The Governor of the Central Bank of Nigeria, Olayemi Cardoso, and the Chairman of the Federal Inland Revenue Service, Zacch … Read more