Nigeria’s economic crisis, driven by the removal of petrol subsidies and FX window unification, has led to the exit of several multinational companies. Diageo, on June 11, announced selling its 58.02% stake in Guinness Nigeria to Tolaram, joining 15 other multinationals like Kimberly-Clark, Procter & Gamble, GlaxoSmithKline, Unilever, and Sanofi-Aventi Nigeria in reducing or...
Read MoreCrude Oil Theft in Nigeria: A Deep-Rooted Issue Leaders and activists in the South-South region have highlighted the complex networks involved in crude oil theft, pointing to significant players within politics and the oil industry. These networks, entrenched over the years, are shielded by a lack of political will from the government. PANDEF’s Stand...
Read MoreFederal Government announced yesterday that flooding has submerged 21 local government areas in 10 states and the Federal Capital Territory (FCT) due to recent heavy rains. Water Resources Minister Joseph Utsev, alongside Minister of State Bello Goronyo and NIHSA Director General, reported at a briefing in Abuja that several states have faced flooding since...
Read MoreFormer President Olusegun Obasanjo clarified that the release of Nnamdi Kanu was not discussed during his meeting with South-East governors in Enugu State on Tuesday. Obasanjo and Chief Emeka Anyaoku met with the governors to discuss regional development issues, such as security, infrastructure, economic cooperation, and collaboration, complementing the national economic agenda. A statement...
Read MoreNigerians are currently facing a severe increase in the prices of goods and services, beginning in 2022 due to global supply chain issues, the Russia-Ukraine war, and domestic insecurity. This inflation was exacerbated by the removal of the fuel subsidy on May 29, 2023, leading to a 223% rise in petrol prices and the...
Read MoreMrs. Hannatu Ajiji, an official at the Tomatoes/Pepper Market along Bauchi Ring Road in Jos, Plateau State, explains the fluctuating prices of food items. “We don’t tell people about prices of tomatoes and pepper again because they may fluctuate at any time. Sometimes, we sell at a particular price in the morning and by...
Read MoreThe maritime sector in Nigeria is facing a severe crisis due to a significant drop in vessel calls at the nation’s ports. This downturn has had a domino effect on various businesses, exacerbating the ongoing forex crisis and inflation that are plaguing the economy. Impact on Maritime Sector Stakeholders The drastic reduction in vessel...
Read MoreA Federal High Court in Lagos has ruled that the EFCC’s declaration of Margaret Emefiele, wife of former Central Bank Governor Godwin Emefiele, as a “wanted person” is illegal. Mrs. Emefiele challenged the EFCC and its chairman for listing her as wanted and displaying her photo on its website without a valid court order....
Read MoreThe Ondo State Police Command has brought a 35-year-old herb seller, Taiwo Mufutau, before an Akure Family Magistrate Court on charges of defiling his 8-year-old biological daughter. Mufutau faces a single charge of rape, which violates Section 25(a) of the Ondo State Violence Against Persons (Prohibition) Law of 2021. Police prosecutor Martins Olowofeso informed...
Read MoreA Crisis Born of Insecurity and Poverty In Northern Nigeria, particularly in the states of Kaduna, Katsina, Zamfara, Sokoto, Kebbi, Kano, Jigawa, and parts of Niger, banditry has emerged as a severe security threat. This crisis stems from the aftermath of the Boko Haram insurgency, which has left the region in socio-economic turmoil. The...
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