Eko Hot Blog reports that the Nigeria Labour Congress (NLC) has criticized President Bola Ahmed Tinubu over his recent comment on labour unions. In a statement issued on Friday (today), the NLC said the Nigerian leader is only concerned with future political calculations instead of directing his efforts to address pressing challenges in the country. … Read more
Eko Hot Blog reports that some former Niger Delta warlords have held a stakeholders meeting on how to combat the current economic crisis in the economy, particularly in the Niger Delta region. The meeting was held at the residence of Senior High Chief Bibopere Ajube, at Agadagba-Obon, Arogbo, in Ese-Odo Local Government Area (LGA) of … Read more
Eko Hot Blog reports that the Sultan of Sokoto, Muhammad Sa’ad Abubakar III, has submitted that all is not well with the northern region of the country and Nigeria as a whole. According to the Sultan, the situation in the country has made people deeply frustrated, hungry, and resentful. He added that insecurity and poverty … Read more
Eko Hot Blog reports that Governors elected on the platform of the Peoples Democratic Party (PDP), on Monday, met in Abuja to appraise the state of the nation. According to TheCable, the meeting was held at the Bauchi state govenor’s lodge in the Asokoro district of the nation’s capital. Speaking with journalists after the meeting, … Read more
Eko Hot Blog reports that a fresh round of protests has broken out in Suleja, the commercial nerve centre of Niger State which is only a few kilometres away to the Federal Capital Territory, Abuja. The angry Nigerians stormed the streets on Wednesday, according to photographs obtained by SaharaReporters, calling on the President Bola Tinubu-led … Read more
Eko Hot Blog reports that the National Bureau of Statistics (NBS) latest inflation report indicated a rise in Nigeria’s headline inflation to 28.92% in December, compared to the 28.20% recorded in November 2023. The report, released by the statistics bureau on Monday, detailed that food inflation also rose to 33.93 per cent from the 32.84 … Read more
In the economic landscape of Nigeria, a pressing concern has taken center stage in recent times—escalating inflation rates, currently soaring close to a staggering 27%. The phenomenon of inflation, characterized by a persistent and substantial increase in the general price level of goods and services in an economy, demands a nuanced understanding and a comprehensive … Read more
Eko Hot Blog reports that President Bola Tinubu, on Sunday, addressed Nigerians in commemoration of the country’s 63rd Independence Anniversary. In a national broadcast, the president reminded Nigerians of Nigeria’s strength, urging citizens to love and cherish the country. He revealed steps his administration has taken so far to stem the rise of inflation. The … Read more
Eko Hot Blog reports that Olayemi Cardoso, governor of the Central Bank of Nigeria (CBN), has spoken on his plans to stabilise the country’s foreign exchange (FX) market and slow inflation. Cardoso spoke on Tuesday when he and four CBN deputy governor nominees were screened by the senate. Editors Pick Flash Floods: NiMet Alerts On … Read more
Nigeria’s trajectory took an unprecedented turn with President Bola Ahmed Tinubu’s bold declaration shortly after his May 29, 2023, inauguration that the fuel subsidy was to be abolished. Even as the inauguration festivities at Abuja’s Eagle Square drew to a close, the reverberations of this statement were felt across the nation’s fuel stations. Oil marketers … Read more
Electricity workers under NUEE are mobilizing to join the NLC protest strike against fuel subsidy removal. The strike will potentially cause a nationwide blackout. The NLC has directed the withdrawal of services action to begin on June 7, 2023, in response to increased hardship and inflation. EKO HOT BLOG reports that electricity workers under the … Read more
UK annual inflation rate drops to a 13-month low of 8.7 percent in April. This could be perceived as due to weaker energy prices compared to prices of the previous year. Grant Fitzner, the Chief Economist at the ONS, noted that while the inflation rate had decreased, prices still remained significantly higher than the same … Read more
The Church of Nigeria, Anglican Communion, has emphasized the need to test the resilience of the nation’s judicial system in the Presidential Election Petition Tribunal. They called on the incoming government to prioritize security, education, healthcare, and infrastructural development for a united and prosperous nation. The Church also urges the government to address rising inflation, … Read more
Nigeria’s inflation rate has been rising for several months. Any hopes that it may cool in April vanished with the release of an NBS report on Monday. Notably, the rise from March 2023 to April 2023 was only 0.18%. Eko Hot Blog reports that Nigeria’s headline inflation rate in April 2023 rose to 22.22% relative … Read more
The NBS has released the CPI and Inflation Report for March 2023. The CPI measures the average change over time in the prices of goods and services consumed by people for day-to-day living. The February headline inflation rate was 21.91%. Eko Hot Blog reports that Nigeria’s headline inflation rate rose to 22.04% in March 2023. … Read more
Nigeria’s Inflation rate has risen to 21.91% amid the Naira crisis. This was disclosed in a recent Consumer Price Index report by the National Bureau of Statistics on Wednesday. The inflation rate rose to 21.91%, compared to January 2023 inflation rate which was 21.82%. EKO HOT BLOG reports that amid the uncertainties being faced by … Read more
By Philip Ibitoye The Nigerian presidential seat has accommodated a number of physically infirm people over the years. Former President Musa Yar’adua’s battle with a kidney problem was no exception. Unfortunately, the struggle proved to be one he could not overcome, as he passed away in office in May 2010. But his illness was not … 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
By Philip Ibitoye Like a ravenous beast consuming everything in its path, Nigeria’s government continues to gobble up debt, with the Debt Management Office forecasting a possible N77 trillion debt by mid-2023. This is unsurprising to many citizens who are well aware of their government’s insatiable appetite for borrowing. Like a relentless wave crashing against … Read more
Japan’s core consumer price inflation edged up to 3.7% in November, the highest it has been since 1981. Eko Hot Blog reports that was when a Middle East crisis disrupted oil production and caused energy prices to soar. EDITOR’S PICKS British Airways: Flights Leaving US Grounded Over Technical Issue Met Office Forecasts 2023 Will Be … Read more