Nigeria’s 63% Poverty Surge: Reform, Inflation and the New Hardship Economy As poverty in Nigeria climbs toward 63%, affecting about 141 million people, economists debate whether President Bola Tinubu’s reforms are the cause of the crisis—or the painful medicine needed to stabilise Africa’s largest economy. A Nation Where Poverty Now Touches Most Households Nigeria entered Read More…
Nigeria is bracing for one of its worst hunger crises, with more than 30 million people expected to be food insecure next year. This represents a one-third increase from this year, driven by economic hardship, according to a joint report by the Nigerian government and the United Nations released on Friday. The report highlights the Read More…
Nigeria’s state oil giant, NNPC, reported a remarkable 28% increase in its annual net profit, reaching a total of 3.297 trillion naira ($2.14 billion) for the year. The company also declared a dividend of 2.1 trillion naira, marking a significant financial milestone despite ongoing challenges in the operational and economic landscape. “Despite the inherent challenges Read More…