Nigerian economy

REAVELED: Why Food Prices May Continue To Increase

Apr 19, 2024. by Praise Ben

LCCI warns of persistent food pricess increases in Nigeria International tensions and threats to key shipping routes exacerbate the impact on Nigeria’s market. Decentralization of agricultural activities, particularly into poultry and fisheries EKO HOT BLOG reports that the Lagos Chamber of Commerce and Industry (LCCI) has issued a warning that the soaring food prices in Nigeria … Read more

FG Speaks On Return Of Fuel Subsidy

Apr 18, 2024. by Praise Ben

Federal Government Speaks On Return Of Fuel Subsidy. Minister of State for Petroleum Resources emphasizes government’s stance on subsidy cessation. Challenges raised for those alleging ongoing subsidy payments, calling for evidence and facts to support claims. EKO HOT BLOG reports that the Federal Government, through the Ministry of Petroleum Resources and the Nigerian National Petroleum Company … Read more

Dangote Predicts New Dollar To Naira Exchange Rate, Diesel Price

Apr 11, 2024. by Praise Ben

Dangote Predicts New Dollar To Naira Exchange Rate, Diesel Price. He expects a reduction in inflation following discussions with President Tinubu. Dangote emphasizes the importance of supporting government efforts to improve the economy. EKO HOT BLOG reports that Nigerian billionaire businessman, Aliko Dangote, has noted an improvement in diesel prices alongside a potential further drop in … Read more

Economy: Experts Predict Mid-Year Drop In Prices

Apr 7, 2024. by Praise Ben

Experts foresee mid-year price drop, offering hope amid high living costs. Calls for CBN to lower dollar rate and consumer protection efforts aim to ease financial burdens. Optimism rises with planting season and government initiatives, hinting at lower commodity prices. EKO HOT BLOG reports that as the Nigerian economy navigates through various challenges, experts foresee a … Read more

REAVEALED: Why Price Of Food Won’t Drop Immediately Despite Naira Appreciation

Mar 31, 2024. by Praise Ben

Why Price Of Food Won’t Drop Immediately Despite Naira Appreciation Market adjustment processes could delay visible decreases in the cost of goods and services. Traders cite challenges such as infrastructural constraints and expenses to maintain product quality, affecting price reductions. EKO HOT BLOG reports that as the Nigerian naira experiences an upturn against the dollar, economists … Read more

List Of States With Highest And Lowest Prices Of Petrol In Nigeria

Mar 21, 2024. by Praise Ben

Tinubu’s decision to end fuel subsidy in May 2023 caused immediate nationwide Prices of Petrol increase. NBS reports a staggering 157% rise in average fuel retail price from February 2023 to February 2024. Zamfara tops the list with the highest average petrol price at N750.43 per litre, while Kwara Senjoys the lowest at N650 per … Read more

Like Cement, Price Of Iron Rods Jumps From N8,500 To N18,500

Mar 16, 2024. by Praise Ben

EKO HOT BLOG reports that amidst the skyrocketing prices of cement nationwide, the costs of iron rods, also known as reinforcements, have surged significantly, surpassing the increases seen in cement prices. This online media platform highlights the ongoing challenge faced by Nigerians in realizing the dream of owning affordable homes, as the exorbitant prices of key … Read more

Price of Rice: Top Nine Rice Brands in Nigeria and Their Current Prices

Mar 11, 2024. by Praise Ben

EKO HOT BLOG reports that the price of rice, a staple food for millions of Nigerians, has surged by 98.47 percent over the past year, rendering this essential commodity unaffordable for many households. The scarcity of paddy has been identified by industry experts as the primary factor driving the continuous increase in prices of local parboiled … Read more

Hardship: Looting Of Abuja Warehouse A Message To Tinubu – Adegboruwa

Mar 4, 2024. by Ekohot Editor

Looting of Abuja warehouse reflects the level of hardship Nigerians are facing It sends a message to President Tinubu about his economic policies Tinubu’s administration needs to review policies to ensure survival of the masses Eko Hot Blog reports that Senior Advocate of Nigeria, Ebun-Olu Adegboruwa, has stated that the looting of a government warehouse … Read more

Garri, Rice Prices Skyrocket By Over 50% In Enugu

Mar 3, 2024. by Ekohot Editor

Prices of garri (cassava flakes) and rice surge by over 50% in Enugu metropolis A cup of garri now costs N150, up from N120 in January A 50kg bag of foreign rice now sells for N78,000 – N80,000, up from N55,000 – N60,000 Eko Hot Blog reports that the residents of Enugu metropolis are grappling … Read more

Naira Free Fall: CBN Gov, Finance Minister, Others Appear Before Reps

Feb 6, 2024. by Ekohot Editor

Eko Hot Blog reports that the Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, is currently appearing before the House of Representatives to speak on the state of the economy. As of the time of filing this report, Cardoso is appearing before the lawmakers during plenary in Abuja and he is briefing them on the … Read more

National Assembly Prepares to Pass 2024 Budget as 541 MDAs Conclude Defence

Dec 19, 2023. by Praise Ben

EKO HOT BLOG reports that the National Assembly gears up to finalize the N27.5 trillion 2024 budget as various government agencies complete their budget defence sessions. Senate Appropriations Chairman, Senator Adeola Solomon, expressed readiness to receive and evaluate sub-committee reports, aiming for a budget passage by Saturday EDITOR’S PICKS Appeal Court Dismisses Binani’s Case, Affirms Fintiri … Read more

Nigeria Possesses Sufficient Manpower For Economic, National Development – Tinubu

Dec 9, 2023. by Praise Ben

EKO HOT BLOG reports that President Bola Tinubu has expressed his belief that Nigeria possesses the necessary and abundant manpower to drive development across all sectors of the economy. A statement conveyed by his spokesperson, Ajuri Ngelale highlighted Tinubu’s remarks during the reception of a report titled ‘Industrialisation, Energy Security, and Climate Change: Issues, Challenges … Read more

We Handed Over $550 Billion Economy To APC – PDP Accuses APC Of Defrauding Nigerians

Sep 1, 2023. by Ekohot Editor

Eko Hot Blog reports that the Peoples Democratic Party (PDP) has stated that its government left over $550 billion worth of economy to the ruling All Progressive Congress, APC, in 2015. PDP in a statement issued on Thursday to celebrate its 25th anniversary on its official X, accused the APC-led administration of mortgaging the future … Read more

‘Temporary Pain And Suffering Worth It For Nigeria’s Progress’ – Buhari

May 28, 2023. by Praise Ben

Buhari has defended the hard-hitting policies of his eight-year regime. The policies included the naira redesign policy, which resulted in a nationwide shortage of notes and losses to farmers and banks. The outgoing president also admitted to making difficult choices for revamping the economy. EKO HOT BLOG reports that Muhammadu Buhari on Sunday, in … Read more

Fuel Subsidy Saga: NLC Awaits Inauguration Of New Administration For Decision

Apr 10, 2023. by Praise Ben

The Nigerian Labour Congress is yet to take a stand on the issue of fuel subsidy removal, which will be decided after the inauguration of the new administration on May 29th. The NLC is waiting to engage with the incoming government before deciding on a position. The vice president of the NLC denies accusations by … Read more

Fuel Subsidy Removal: Northern Youths Warn Of Dire Consequences For Struggling Nigerians

Apr 7, 2023. by Praise Ben

The Northern Youth Council of Nigeria has warned against the Federal Government’s plan to remove fuel subsidy.
They fear that this move would increase the cost of living for Nigerians and cause severe economic consequences.
The NYCN has called on the government to prioritize job creation and economic growth instead of removing the subsidy.

EKO HOT BLOG reports that the The Northern Youth Council of Nigeria (NYCN) has warned against the plan of the Federal Government to remove fuel subsidy.

In a statement in Kaduna on Thursday, the President of the Council, Isa Abubakar, expressed the group’s opposition to the proposed fuel subsidy removal in June.

EDITOR’S PICKS

The Hunger In Nigeria: Gbemi Olagbegi On Horrible Encounter With Dispatch Rider

Feb 22, 2023.Feb 22, 2023. by Ekohot Editor

Gbemi Olagbegi discloses via her social media handle an awkward encounter with a Rida dispatch rider that opens up about the situation in the country. Olagbegi shares the dispatch rider had made away with 5 packs of food that were intended to be delivered to a company. Through her verified Instagram page, she shares the … Read more

Primate Ayodele Issues Warning On The State Of Nigeria’s Economy

Jun 28, 2021. by Ekohot Editor

Primate Ayodele’s Prophecy On Anambra Poll

“If the government doesn’t work on the economy, Dollar price will increase to N520, there will be petroleum scarcity because the price will rise to N280 per litre The Leader Of INRI Evangelical Spiritual Church, Primate Elijah Ayodele, has issued warnings on the state of Nigeria’s economy noting that Nigerians should expect food scarcity, dollar … Read more

Nigeria Exited Recession ‘Faster Than Expected’ – World Bank

Apr 4, 2021. by Ekohot Editor

Nigeria’s economic growth is expected to be slower than other countries in West Africa due to inflation, high unemployment and COVID-19 The World Bank has said that Nigeria moved out of recession faster than its forecasts had predicted. “Following a 6.1 percent year-on-year contraction in 2020 Q2, Nigeria’s economy contracted by 3.6 percent in 2020 … Read more