#Nigerian economy

[africaprimenews]

Nigerian Editors To Convene In Yenagoa For Discussions On Economy And Security

By Smart Emmanuel The Nigerian Guild of Editors (NGE) is set to host its 20th annual conference from November 7 to 9, 2024, in Yenagoa, Bayelsa State, focusing on the country’s economy and security. The event will see prominent figures, including Vice President Kashim Shettima; Bayelsa State Governor Douye Diri; Minister of Budget and Economic Planning Atiku Bagudu; Minister of Information and…

[touchaheartnews]

Fuel Subsidy Removal and Other Factors May Threaten External Reserve Growth – CBN

The Central Bank of Nigeria, CBN, has said that fuel subsidy removal, lower import bills, and increased external debt servicing obligations could pose downside risks for the growth of external reserves by 2024/2025. CBN disclosed this in its Monetary, Credit, Foreign Trade and Exchange Policy guidelines for fiscal years 2024/2025. However, the apex bank in its outlook projected a positive…

[destkelamedia]

CBN Reopens Borrowing Window, Sets New Lending Rate at 31.75%

Nigeria’s Central Bank Lifts Suspension on Bank Borrowing Amid New Measures to Control Liquidity In a significant policy shift, the Central Bank of Nigeria (CBN) has lifted the suspension on bank borrowings from its Standing Lending Facility (SLF), setting a new lending rate at 31.75 percent. This decision follows the 296th meeting of the Monetary Policy Committee (MPC) and marks a pivotal move…

[thoughtlessarse]

The first French phrases Nigerian teenager Sara* learned when she arrived in the city of Bouaké were “Alors baiser” and “c’est douce”, to initiate sexual activity and then to fake pleasure during the act. The daughter of her mother’s best friend had told her she was going to the Ivorian city to sell body lotion. Instead, an older woman – a “madam” – who had paid for her travel without her knowledge sent her to brothels in the city every night. Sara says she is paid between 3,000–5,000 Central African Francs (CFA) – between £3.90 and £6.50 – for every man she sleeps with for a “short-time” and 25,000 CFA for an overnight stay. The money is split three ways between the brothel, Sara and the madam. Three months after arriving in Bouaké, Sara is still waiting to earn enough to pay off debts of 2.5m CFA to the madam for travel, clothes, sustenance and bribes paid to agents, and return to Nigeria. “She [the madam] took my Nigerian sim card when I came here, so I couldn’t call my people at home for the first month,” says Sara, who now goes by the name of Sugar and refused to give her real age. Trafficking is a major crisis in Nigeria, with between 750,000 and 1 million people forced into begging, prostitution, domestic servitude, armed conflict and labour exploitation. Some of those are being trafficked out of the country. Sara is one of thousands of Nigerian female sex workers scattered across towns and cities in Ivory Coast, according to Nigerian officials who spoke to the Guardian.

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[realestatemoses]

How Will Bola Ahmed Tinubu’s Presidency Affect The Nigerian Real Estate Sector?

On the 1st day of March 2023, His Excellency, Bola Ahmed Tinubu was declared the winner of the much anticipated 2023 General Elections, one filled with tension, intrigue and drama. His pronouncement as the winner has left a lot of citizens and the world at large curious about what to expect during his tenure, especially in terms of economic policies and initiatives.

This article seeks to examine the possible implications of Bola Ahmed Tinubu’s emergence as President of Nigeria on the real estate sector and its stakeholders.

The emergence of Bola Ahmed Tinubu as President although unsurprising to most has been deemed by many entrepreneurs, business owners and business-minded citizens as a welcome development which will help fast-track the recovery of the Nigerian economy.

Nigeria, despite being one of the largest oil-producing countries in the world, has 40% of its citizens (83 million people) still living below the poverty line, while another 25% (53 million) are vulnerable.

In addition to an external debt standing at $32.86 billion as reported by the Debt Management Office.

Nigeria has also been experiencing high inflation rates in recent years. In August 2021, the inflation rate was 17.38%, the highest in four years.

With a fast-rising high unemployment rate of 33.3% as reported by the National Bureau of Statistics.

The reason for this belief is predicated on the tested and proven track record of President-elect Bola Ahmed Tinubu with a spotlight on his time as Governor of Lagos state, where his contributions helped solidify its position as the economic capital of the country and also ranking amongst the fourth wealthiest city on the African continent.

As the governor of Lagos State from 1999 to 2007, Bola Ahmed Tinubu implemented several economic policies that contributed to the growth and development of the state. Some of his notable economic achievements include:

•Tax Reforms: Tinubu implemented a tax reform program that helped increase the internally generated revenue of Lagos State. The reforms included the introduction of the Personal Income Tax Act, the Hotel Occupancy and Restaurant Consumption Law, and the Land Use Charge Law.

•Infrastructure Development: Tinubu initiated several projects aimed at improving the infrastructure of Lagos State. Some of these projects include the construction of new roads, bridges, and flyovers, and the expansion of the water transportation system.

•Investment Promotion: Tinubu implemented policies to encourage investment in Lagos State. He initiated the development of the Lekki Free Trade Zone, an industrial and commercial hub that is a model for economic development and has attracted significant investment from both local and foreign investors.

He established the Lagos State Investment Promotion Agency (LASIPA) to promote investment in the state, and also provided incentives to investors such as tax breaks and land allocations.

•Poverty Alleviation: Tinubu implemented programs aimed at reducing poverty in Lagos State. He established the Lagos State Poverty Alleviation Program (LASPAP), which provided micro-credit loans, vocational training, and other support services to low-income residents.

•Education: Tinubu implemented policies aimed at improving the quality of education in Lagos State. He established the Lagos State University (LASU), and also introduced the Eko Project, which aimed at improving the infrastructure and quality of primary and secondary schools in the state.

•Health: Tinubu implemented several health policies aimed at improving the healthcare system in Lagos State. He established the Lagos State University Teaching Hospital (LASUTH), and also provided free healthcare services to children under the age of five and pregnant women.

Tinubu’s economic policies helped transform Lagos State into one of the fastest-growing economies in Africa during his tenure as governor.

Bola Ahmed Tinubu’s policies and initiatives as outlined in his manifesto if effectively implemented will have a positive impact on the Nigerian real estate sector.

For example, he might prioritize infrastructural development and housing projects to improve the availability and affordability of housing for Nigerians. This could potentially create new opportunities for real estate developers, builders, and investors, as well as increase demand for related services such as architecture, engineering, and construction.

Additionally, if Tinubu’s presidency were to lead to greater political stability and economic growth in Nigeria, this could have a positive effect on the real estate sector. A stable political environment and a growing economy could lead to increased investment in the sector, as well as higher demand for commercial and residential properties.

However, it is important to note that these are all potential outcomes and that the impact of a Tinubu presidency on the real estate sector would depend on a variety of factors, including his specific policies and initiatives, as well as broader economic and social trends in Nigeria.

In conclusion, members of the business community in Nigeria, especially the stakeholders in the real estate sector are curious to see how his policies and initiatives towards economic growth, infrastructure, foreign investment and ease of doing business will unfold and most importantly be implemented. As government policy is one of the major factors that drive the economy and the real estate sector.

[jobaaj]

🚨𝐍𝐢𝐠𝐞𝐫𝐢𝐚 𝐢𝐬 𝐩𝐫𝐨𝐭𝐞𝐬𝐭𝐢𝐧𝐠🚨 16 𝑑𝑒𝑎𝑑 𝑎𝑛𝑑 300+ 𝑎𝑟𝑟𝑒𝑠𝑡𝑒𝑑!!😨 🤔✨ 𝐖𝐡𝐚𝐭 𝐡𝐚𝐩𝐩𝐞𝐧𝐞𝐝?

🔸 Thousands of Nigerians, mostly youngsters, have taken to the streets in protest. 🔸 Clashes with security forces escalated into violence, with tear gas and gunshots used to disperse the crowd. 🔸 A devastating bomb blast in Borno claimed 4 lives and injured 34 others! 💔

🧐✨ 𝐖𝐡𝐲?

🔹 Due to a cost of living crisis. 🔹 President Bola Tinubu's reforms last year have led to a staggering 40% jump in food inflation and tripled fuel prices! 😰 🔹 The Nigerian Naira has massively devalued as a result of these reforms. 🔹 Protests also target systemic corruption. Despite being one of Africa's largest oil producers, Nigeria's economy has stagnated, and people have become poorer! 😱

😲𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐢𝐧𝐠𝐥𝐲: - Corruption is rampant in Nigeria. - Armed bandits and Islamist militants are running rampant in the country’s north. - Over 40% of the population is now living in dire poverty! - Nigeria is now under 24-hour curfews!! ❓𝙷̲𝚘̲𝚠̲ 𝚕̲𝚘̲𝚗̲𝚐̲ 𝚠̲𝚒̲𝚕̲𝚕̲ 𝙽̲𝚒̲𝚐̲𝚎̲𝚛̲𝚒̲𝚊̲𝚗̲𝚜̲ 𝚜̲𝚞̲𝚏̲𝚏̲𝚎̲𝚛̲?? Follow Jobaaj Stories (the media arm of Jobaaj.com Group for more)

Jobaaj Stories started as a storytelling branch and now includes news, inspiring stories, and valuable information. Our mission is to educate and inspire young professionals and students through storytelling, providing you with information and motivation.

[dynamicdamilare]

Empowering Youth and Women through Freelancing: A Training Session at Winners Chapel church

#youthempowerment #womenempowerment #freelancing #winnerschapel This was an empowerment training session on freelancing, held at Living Faith Church in Television 1, Kaduna, Nigeria. The session, facilitated by Mr. Joseph Bankole, aims to sensitize youth and empower women by introducing them to freelancing opportunities. Three participants, Mrs. Vivian ABA, Divine Clement, and Luuka, shared…

[morganablenewsmedia]

Government Is Responsible For Business Collapse − MAN

Government Is Responsible For Business Collapse − MAN As Many Businesses Are Ruined Due To Ill Policies Manufacturers’ Association of Nigeria has attributed business collapse to ill-policies made by Government officials. Many businesses have closed down and employment rate increases due to harsh economic policies made by the government, which has also affected standard of living of many Nigerians…

[ladpn]

Tinubu’s administration committed to free press, says Ajuri Ngelale

culled from The Cable “Gone forever, by the grace of God, are the days when government spokesmen and women will speak down to Nigerians or would use condescending language on Nigerians and would display some form of institutional arrogance on Nigerians. That would not happen under my leadership.” Ajuri Ngelale Photo Credit: The Cable Nigeria Ajuri Ngelale, the special adviser on media and…

[africaprimenews]

Nigeria: Withdraw Tax Reform Bills, Economic Council Tells Tinubu

By Smart Emmanuel Nigeria’s economic thinktank, National Economic Council, has urged President Bola Tinubu to withdraw from the National Assembly, the Tax Reforms Bills, to allow room for wider consultations and consensus. This was part of the decisions taken at the 144th meeting of the National Economic Council at the Aso Rock Villa, Abuja, on Thursday. “NEC noted the need for sufficient…

[rin-tezuka]

You don't get to post about how funny Nigerian scammers are or how you bait them until you've read into the World Bank's forced privatization schemes and colonialism and neocolonialism and why citizens of a country that exports 62 billion dollars of mineral resources each year would have an economy that'd force poor people into scamming people to survive

[benjaminwatchworld]

Rants on the Watch 4

If you have contacts in Nigeria you must most likely think Peter Obi is going to win the election this weekend. The youth think he is their man because he is in his early 60s and the youngest out of the 18 presidential candidates of which only 1 is female in Africa’s most populous country. If we are to go by the regional theory in the sense of Nigeria we can’t have anyone getting 50%+1 in the…

[premimtimes]

New Naira Notes: I know Nigerians are 'facing hardship' - Buhari

President Muhammadu Buhari said Saturday that he is aware poor Nigerians are ‘facing hardship’ due to the currency change policy of the government. Mr Buhari said this in a statement by his spokesperson, Garba Shehu. “While taking note that the poorest section of society is facing hardship as they often keep hard cash at home for various expenses, President Buhari gave strong assurances that the…

[loadsofplaces]

Nigeria

General Information Nigeria is a country in Western Africa. During the early modern age, countless small states and kingdoms flourished in the region, many of them belonging to the Hausa or Yoruba cultures, while Igbo society in the Southern part of current Nigeria was largely decentralized until the rising importance of foreign trade in the 18th century. In the 18th century Africa’s West coast, including the Yoruba and Igbo nations, became involved in the Atlantic slave trade. In the mid 19th century, Britain gained influence in the region, ending the era of the Atlantic slave trade and starting the era of British colonization. In 1900, the Protectorates of Southern and Northern Nigeria were established, in 1914, they were united. Nigeria gained self-rule in 1954, full independence followed in 1960. The effects of colonization as well as the political and cultural differences between Nigeria’s dominant ethnic groups led to several crises, most notably the Civil War 1967-1970, centering around the secessionist, Igbo-dominated region Biafra. In the decades following independence, Nigeria went through several political changes, the current government is the Fourth Nigerian Republic. Today, Nigeria has around 217 Million inhabitants of about 250 different ethnic groups, with Hausa being the most dominant in the North, Yoruba in the Southwest and Igbo in the Southeast. Around half of Nigerians are Muslim, around half Christian. Hundreds of languages are spoken, the official language is English, while Hausa, Igbo and Yoruba are recognized as national languages. The capital is Abuja, while the former capital Lagos is still the leading commercial and industrial as well as the largest city.

Africa’s pop culture capital Nigerian pop culture has spread throughout Africa and is increasingly known in the world. The Nigerian film industry, Nollywood, is one of the film industries with the largest outputs globally, and many Nigerian Afrobeats musicians have gained worldwide fame in recent years. In the 1970s, the precursor of the genre, Afrobeat (without s!) already reached high international popularity, with Fela Kuti being the most notable artist of that generation.

~ Anastasia

Economy The Economy of Nigeria is a middle-income, mixed economy and emerging market, with expanding manufacturing, financial, service, communications, technology, and entertainment sectors. It is ranked as the 27th-largest economy in the world in terms of nominal GDP, and the 24th-largest in terms of purchasing power parity and the largest Sub Saharan Africa’s economy. Nigeria has the largest economy in Africa. The country's re-emergent manufacturing sector became the largest on the continent in 2013, and it produces a large proportion of goods and services for the region of West Africa. In addition, the debt-to-GDP ratio was 16.075% as of 2019.

~ Damian

Sources: https://www.britannica.com/place/Nigeria https://en.wikipedia.org/wiki/Economy_of_Nigeria

[dream-world-universe]

Port Harcourt, Nigeria: Port Harcourt is the capital and largest city of Rivers State in Nigeria. It is the fifth most populous city in Nigeria after Lagos, Kano, Ibadan and Benin. It lies along the Bonny River and is located in the oil rich Niger Delta. Port Harcourt's economy turned to petroleum when the first shipment of Nigerian crude oil was exported through the city in 1958. Wikipedia

[chizoies]

STRAWHATS FAMILY AU

The Lore Drop:

Alright,in this alternative universe the whole gang is a family. Robin and Franky are married and they are the parents. Brook is Franky’s adoptive father. Jinbei is Robin’s biological father. Brook is African (Nigerian (Bantoid))American and he was never married. Franky is caucasian, his roots comes from Turkiye. Jinbei is Indian, he married Olvia, she is Brazilian. So Robin is half Indian half Brazilian.

Only Luffy and Chopper are Frobin’s biological children.

When Robin and Franky got married, they had realised that they are rich enough to set on a quest to help the children of need so they went to see the world. HEAR ME OUT it makes sense because um Jinbei is a very respected doctor and Brook is a renowned musician; Franky own a ship/boat/cruise fix company and Robin is a doctor in the archeology field 😁 they are rich rich

First, Luffy was born. And their first destination was Japan. That is where they adopted Zoro. He was in Juvenile. They sorted out things and adopted this child to save him. Cause he was innocent. Luffy was 6 and Zoro was 10 when this happened. (I know the punishment age range is after 14 in Japan but the crime they were accusing him of was so severe or something that they had to, like you should know I’m just making shit up leave me alone)

After a few months they go to Finland. That is where they adopt Nami. A Swedish girl who was in the hands of a gun mafia that killed her sister and mother. She was 9. So they fight fight and get her.

The new year comes, and they decide to go to Mozambique. That is where they meet Usopp! When Franky and Zoro was walking through streets with full of shops and all, they run into Usopp (same age as Luffy) who was selling things he built. Usopp’s father Yasopp left their home when he was born, and her mother dies of sickness. The social workers does not give shşt about the poor. Franky sees this spark in him. He and Zoro buys things from him. And at the end of the day Franky asks if he wants a family they can be one to him. Usopp refuses because of his sick friend Kaya. Saying that he cannot leave her. Later in the week, yk the drill they show everyone that Kuro is bad person blah blah, they both save Kaya and Usopp. Usopp accepts to be part of their family.

They make BIG AHH turn and go to France. They drop at some seaside town. Such a nice touristic place. But so many shop owners with rent complaints. The mayor of this town goes againts its country’s law and increases the rents per SECOND. They dig down this mystery by accident and find out that the mayor is a evil motherfrucker scientist. He also has a son , Sanji (10 yo), whose very much so sweet. They want to fight the scientist but the country is actually supporting him. Since his products and the stuff he does supports the economy or something. So they technically kidnap Sanji. But Sanji needs it. With Franky’s relations they get him a fake id and all that. But they promise that ona day they will have enough power to defeat him. Sanji is happy.

The next destination is Canada. That is exactly where Franky and Robin decides to make another child 😁

After that they go to Egypt. They come across an organisation that Robin did her internship, the one that ran by Sir Crocodile. They find a lost child named Vivi. Vivi is an 8 year old who is getting used by Crocodile. They save her, save the country, yay! Allthough Vivi was a part of their family for a quite time after they learned that Vivi was a princess, they help her to meet her father. The Strawhats leave Egypt and promise eachother that they will meet again.

After 9 months Chopper is born. And the family is complete for now. But they are still in a quest to help children. Or to collect them lol. After a while the grandpas also join their quest. And yeah thats it. I would binge read it if someone makes a fanfic about it.