Tag: NigerianEconomy
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71 Percent of Nigerian Households Cannot Afford Healthy Food, NBS Reports
A survey by the National Bureau of Statistics (NBS), supported by the World Bank, has revealed an alarming deterioration in Nigerian households’ access to nutritious food, with approximately two-thirds of families unable to maintain healthy diets due to financial constraints. The report, titled “Nigeria General Household Survey – Panel Wave 5 (2023/2024),” shows an increase…
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Economic Downturn Pushes More Nigerians Below N100,000 Monthly Income Threshold
A stark economic reality has emerged in Nigeria as the number of workers earning below N100,000 ($80) monthly has surged by 42% in the past year, according to the newly released PiggyVest 2024 Savings Report. This shift signals a deepening income crisis in Africa’s largest economy. The report reveals that 37% of employed Nigerians now…
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Nigerian Onion Farmers Face Over 50% Post-Harvest Losses, Warn of Impending Price Hikes
Nigeria’s onion producers are sounding the alarm over a storm of challenges threatening the industry, with crippling post-harvest losses, soaring production costs and the devastating impacts of climate change converging to undermine the sector’s stability. In a recent press conference in Sokoto, Alhaji Aliyu Maitasamu, the President of the National Onion Producers, Processors, and Marketers…
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Fuel Price Controversy Deepens as NNPC Defends Import Quality Amid Market Tensions
The ongoing debate over Nigeria’s fuel pricing mechanism intensified Tuesday as the Nigerian National Petroleum Company (NNPC) Limited defended its import quality standards amid protests at its Abuja headquarters. The controversy highlights the growing tensions in Nigeria’s downstream petroleum sector since the removal of fuel subsidies. NNPC’s Chief Corporate Communications Officer, Olufemi Soneye, strongly rebutted…