Local rice mills idle Prices hit ₦100k again Crisis may spark unrest Rice prices are now setting off serious alarm bells across the nation. A rising tide of concern has been stirring among both consumers and industry insiders alike. Eko Hot Blog has already spotlighted the intensifying challenge faced by ordinary Nigerians at market stalls, … Read more
Rice, a staple for Christmas celebrations in Nigeria, has become a luxury this year. Soaring food prices have made the traditional dish of jollof rice and chicken increasingly out of reach for many families, who are now carefully reconsidering their plans for the upcoming holiday season. To understand the cause, it’s important to note that … Read more
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
The Federal Government’s efforts to reduce food prices through a zero percent duty and exemption from value-added tax on basic food items are facing serious setbacks, as the average price of imported food items surged to a staggering 878.3 price point index in September 2024. This spike reflects the mounting economic challenges hampering attempts to … Read more
The Federal Government has initiated the sale of 50 kg bags of rice for ₦40,000 in Abeokuta, the capital of Ogun State. This initiative is part of the government’s efforts to alleviate the current socioeconomic challenges stemming from the removal of subsidies on petroleum products. During a flag-off ceremony at the Arcade Ground in Abeokuta, … Read more
President Bola Tinubu has urged Nigerians to remain patient despite the rising cost of living, stressing that the country must address its economic challenges and cannot rely on “a free bowl” without hard work and sacrifice. Speaking during a visit from former Nigerian lawmakers at the State House in Abuja on Friday, Tinubu acknowledged the … Read more
APC claims a Federal Government agency is feeding Nigerians with false inflation figures. Eko Hot Blog reports that the All Progressives Congress (APC) has baselessly claimed that the National Bureau of Statistics (NBS) is releasing false inflation figures to Nigerians. EDITOR’S PICKS Tunji Alausa, NAFDAC DG, NBMA DG Promise Action On Genetically Modified Foods Why … Read more
The UN warns that 82 million Nigerians could face hunger by 2030 and urges the government to address climate change and other agricultural threats amid rising food inflation. EKO HOT BLOG reports that the United Nations has issued a stark warning that 82 million Nigerians, or about 64% of the country’s population, could face hunger by 2030. … Read more
President Bola Tinubu has initiated measures to alleviate hardship by approving N50,000 uplift grants for 100,000 families in each state for three months. Eko Hot Blog reports that the President has also sanctioned the distribution of foodstuff worth N155 billion across Nigeria. These decisions were made during the National Economic Council (NEC) meeting in Abuja … Read more
Traders at Ose Okwodu Market in Onitsha have attributed the surging prices of food items in Nigeria to the ongoing insecurity issues plaguing the country. Eko Hot Blog reports that this revelation was made during a visit by the Federal Competition and Consumer Protection Council (FCCPC) on Thursday, The agency’s visit was aimed at investigating … 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
Rising Food Costs Plague Nigerian States Economic Hardship Deepens Across the Nation NBS Report Unveils Shocking Disparities Eko Hot Blog reports that the latest National Bureau of Statistics report has unveiled a grim reality. “The situation is dire, and families are struggling to put food on the table,” a government official stated. Editor’s Pick Admiring … Read more
FCCPC launches enforcement exercise targeting supermarkets nationwide to combat abnormal price surges. Unannounced inspections aim to address consumer concerns about rising food costs despite the strengthening naira. Presidency directs consumer protection agencies to ensure local prices reflect the increasing value of the national currency. EKO HOT BLOG reports that the Federal Competition and Consumer Protection Commission … Read more
Eko Hot Blog reports that the Federal Government has revealed the identification of 32 routes through which food items are smuggled out of Nigeria. Vice President Kashim Shettima disclosed this on Tuesday while addressing a conference on Public Wealth Management held in Abuja, the nation’s capital. He said on the midnight of Sunday, 45 trucks … Read more
Eko Hot Blog reports that the leadership of Nigeria Labour Congress, NLC, has declared a two-day nationwide mass protest for February 27 and 28 to press home It’s demand for better welfare package in the light of recent hike in prices of goods and servics. This news medium gathered that the NLC President Joe Ajaero, … Read more
Eko Hot Blog reports that President Bola Tinubu-led federal Government and governors of the 36 states of the federation have agreed to set up state police as the nation struggles to curtail insecurity. The agreement was reached during an emergency meeting between President Bola Tinubu and the governors, which took place at the presidential villa, … Read more
Eko Hot Blog reports that top officials in President Bola Tinubu’s administration, including Chief of Staff Femi Gbajabiamila and National Security Adviser Nuhu Ribadu, are currently in an emergency meeting at the Presidential Villa. The meeting, convened under the banner of the Presidential Committee on Emergency Food Intervention, comes amidst growing concerns about food insecurity … Read more
… Buhari lamented that it “has produced severe and adverse effects on agriculture because farmers are prevented from accessing their farms… President Muhammadu Buhari has said that the steady increase in the prices of food is a result of flooding, middlemen, and insecurity. pledging to tackle the ravaging hardship in the country. The President stated … Read more
![[JUST IN] Again, Nigeria’s Inflation Rate Rises To 17.33%](https://ekohotblog2.com/wp-content/uploads/2021/01/images-2-2.jpeg)
Urban inflation also rose by 16.33 percent year on year, while the rural inflation rate stood at 15.20 percent in December Data released by the National Bureau of Statistics (NBS), on Friday, has revealed that Nigeria’s Inflation rate closed 2020 on a high hitting 15.75 per cent in December. This is the country’s highest level … Read more