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Pandemic, Recession and Inflation
Many countries including Nigeria are currently in recession. The year 2020 has been characterized by the coronavirus (COVID-19) pandemic. Its impact has continued to have a severe impact on businesses, households, and economies globally and one of its consequences is inflation. Though inflation affects all of us; but most importantly high inflation could be hostile…
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NASS Proposes Voting Rights for Underage Marriage
The National Assembly joint committee on the Independent National Electoral Commission (INEC) recommended that married underage girls be recognised as eligible voters. Speaking at the inauguration of the technical committee in Abuja, Kabiru Gaya, chairman of the senate committee on INEC, said the recommendation is a unanimous decision by the joint panel. “The joint committee…
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The Fall and Fall of the Nigerian Naira
According to the Central Bank of Nigeria (CBN), Nigeria’s currency, the Naira, fell by nearly a fifth of its value on the official exchange rate window, in the five months between March and August of this year from 305 to the U.S. dollar to 379 on August 21, for a roughly 24.3% decline. Nigeria’s currency,…
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Nigeria’s Spiking Food Inflation Continues Unabated
The prices of food items have increased by approximately 30 per cent in different parts of Nigeria over the last one year according to the Nigeria Bureau of Statistics, (NBS). The price of 1kg of onion rose from N202 to N270.59 showing a 33.38 percent increase. The average prices of local rice and imported rice…
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The Unemployment Crisis in Nigeria
In 2019, the Nigerian government said the unemployment rate would reach 33.5 per cent by 2020. Chris Ngige, Minister of Labor and Employment, said at the time that the incessant increase in the rate of unemployment in the country was alarming. According to him, the high unemployment rate shown in NBS reports at the time…