The House of Representatives has responded to the recent increase in petroleum product prices by demanding an immediate reversal of the hikes in petrol and cooking gas prices. This initiative was led by Deputy Minority Leader Aliyu Madaki and supported by 111 other lawmakers. EDITOR’S PICKS ICYMI: Nigerian TikToker, Oloba Salo Reportedly Shot in Lekki, … Read more
MTN Nigeria and other multinational business leaders are pleading with the Federal Government to permit them to raise their tariff plan prices to sustain their operations and investments. Over the past decade, they have faced significant challenges due to the government’s refusal to allow price increases, which they argue is essential for maintaining a viable … Read more
Mr. Joe Ajaero, President of the Nigeria Labour Congress (NLC), revealed the agreement reached between organized labour and President Bola Tinubu before accepting the N70,000 minimum wage during the national wage discussions held at the Presidential Villa in Abuja. During an interview on Arise Television’s Morning Show, Ajaero explained that while negotiating for a new … Read more
The Nigerian Communications Commission (NCC) has retracted its previous statement threatening to sanction Elon Musk’s Starlink for raising its subscription fees without regulatory approval. Dr. Reuben Muoka, the Commission’s Director of Public Affairs, initially communicated this position but later clarified that his response was an “error.” In a follow-up message, he stated, “Please ignore my … Read more
In the midst of Nigeria’s complex economic and political landscape, meaningful conversations become crucial catalysts for change. My recent discussion with Bolade Agbola, a distinguished Agricultural Economist, stockbroker, banker and Business Administration doctorate holder, offered invaluable perspectives on the country’s pressing challenges. EDITOR’S PICKS Health, Planning Ministries Partner with AfDB on Sustainable System Project Shamim … Read more
The Federal Government of Nigeria has approved an increase in the National Youth Service Corps (NYSC) monthly allowance from ₦33,000 to ₦77,000, marking a significant boost for corps members. This announcement was made on Wednesday by the NYSC’s Acting Director of Information and Public Relations, Caroline Embu. EDITOR’S PICKS Gospel Singer Dele Gold Laid to … Read more
The Central Bank of Nigeria (CBN) has projected that lifting petroleum from the newly launched Dangote Refinery will help reduce food prices in Nigeria in the short to medium term. CBN Governor Olayemi Cardoso shared this outlook during a press conference following the 297th meeting of the Monetary Policy Committee (MPC) in Abuja. EKO HOT … Read more
The naira experienced a significant decline against the dollar in the foreign exchange market following the Central Bank of Nigeria’s (CBN) fifth interest rate hike, raising the rate to 27.25%. According to FMDQ data, the naira traded at N1,658.48 per dollar on Tuesday, down from N1,562.66 on Monday, marking a depreciation of N95.82. Similarly, in … 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
The Federal Ministry of Agriculture and Food Security announced that the sale of subsidised rice to the public will begin on Monday, following an earlier distribution to civil and public servants. This initiative aims to alleviate the rising cost of rice, which has soared to as high as N90,000 per 50kg bag in some states. … Read more
Governor Obaseki blames federal policies for hardship in Nigeria and outlines Edo State’s measures to alleviate suffering, including wage increases and free transport. EKO HOT BLOG reports that the Edo State Governor, Godwin Obaseki, stated on Sunday that the hardship in the country is attributable to the policies of the Federal Government. This remark came as … Read more
Over 600,000 Nigerian households received direct cash transfers as the federal government resumed its payment scheme to improve social welfare and economic recovery. EKO HOT BLOG reports that Nigeria’s finance minister, Wale Edun, announced that over 600,000 households have received direct cash transfers from the federal government as part of the resumed payment scheme. Edun spoke … Read more
Nigerian labour unions demand an increase in the national minimum wage to ₦250,000 due to inflation and economic instability, but state governors reject this, citing affordability issues. EKO HOT BLOG reports the Minimum wage policies are essential for ensuring a basic standard of living for workers. In Nigeria, the national minimum wage has been a subject … Read more
The rising prices of essential food commodities like rice, beans, and tomatoes in Nigeria are driven by economic fluctuations. The increasing prices of essential food commodities like rice, beans, and tomatoes in Nigeria are a significant concern for consumers and policymakers. This issue is complex, involving economic, environmental, logistical, and policy-related challenges. Addressing these issues … Read more
NGO urges the government to regulate prices of goods and services instead of increasing the minimum wage to address economic challenges and alleviate hardship caused by inflation. EKO HOT BLOG reports that a non-governmental organisation, Safe and Better Nigeria, has stated that regulating the prices of goods and services, rather than increasing the minimum wage, is … Read more
In the buildup to today’s Eid-el-Kabir festival, there was only one complaint on the lips of Nigerian Muslims across Nigeria: Rams are out of reach. But is this the first time? No. A little over 25 years ago, Nigerians had the same tune: The Rams Are Out Of Reach. In fact, this was the exact … 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
Peter Obi has wished President Tinubu well after the latter’s fall. Eko Hot Blog reports that Peter Obi, the presidential candidate of the Labour Party (LP) in the 2023 election, has discouraged gloating over President Bola Tinubu’s fall at the venue of the 2024 Democracy Day celebration. The former Anambra governor reacted to the incident … Read more
Federal Workers Forum urges Tinubu to pay three-month wage award and other arrears. Workers criticize the Nigerian government’s neglect and highlight severe economic hardships. National Coordinator Andrew Emelieze notes a 300% increase in goods and services prices and significant currency devaluation. EKO HOT BLOG reports that Workers on the platform of the Federal Workers Forum (FWF) … Read more
The CDWR has called on the NLC and TUC to mobilize for a 48-hour nationwide strike to demand a minimum wage of N200,000 and reverse recent anti-poor policies, criticizing labour leaders for their inaction. EKO HOT BLOG reports that the Campaign for Democratic and Workers’ Rights (CDWR) has urged the Nigeria Labour Congress (NLC) and the … Read more