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Nigeria

FG weighs options as Iran war pushes petrol above N1,000

The Federal Government is assessing its economic and diplomatic options as the war involving Iran, the United States and Israel begins to hit Nigerians through higher fuel prices and fresh pressure on the economy. Officials are closely tracking developments in the Middle East, where attacks on oil facilities, shipping disruptions and tensions around strategic waterways have driven up global crude prices. The conflict has already pushed Brent crude well above Nigeria’s 2026 budget benchmark, raising both risks and opportunities for Africa’s largest oil producer. On the domestic front, petrol prices have crossed or neared N1,000 per litre in many locations, with queues reappearing at filling stations across parts of the country. Marketers and analysts link the spike to higher international crude and freight costs, as well as supply constraints and the impact of the conflict on global refinery output and […]

Abdulmumini Auwal SA March 8, 2026

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international

Rising Costs and Poverty Hit Iranians Hard

Many Iranians are struggling to make ends meet as inflation and economic pressures continue to erode living standards across the country. Marjan, a crafts seller from Isfahan, says she and her husband can no longer afford small luxuries like eating out twice a month. For six years, she earned a living selling wooden crafts on Instagram, but an internet blackout during the nationwide protests in early January wiped out her income. Even after the internet returned, her monthly sales plummeted from 300 million rials ($185) to less than 30 million rials. The couple is considering selling their car just to keep up with rent and loan payments. Many families face similar hardships. Mina, a 44-year-old mother in Tehran, says food prices have more than doubled in recent months. Beef, which cost 7 million rials per kilo two months ago, recently […]

Abubakar February 26, 2026

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Nigeria

Abbas: Poor power supply hurting small firms, Nigerians

Speaker of the House of Representatives, Abbas Tajudeen, has warned that poor and costly energy supply is crippling small businesses and worsening the living conditions of Nigerians. He spoke at an investigative hearing organised by the House Committee on Renewable Energy in Abuja.​ Abbas said years of persistent electricity problems have created serious economic challenges and made legislative action necessary. He explained that the National Assembly amended the Electricity Act to firmly include renewable energy as part of Nigeria’s power solutions.​ He noted that diversifying the country’s energy mix with renewable sources would ease pressure on households and businesses while supporting sustainable growth. One key objective of the Electricity Act 2023, he said, is to provide an integrated policy that recognises all sources of power generation, transmission and distribution, including renewables.​ The Speaker highlighted the high cost of running generators […]

Abdulmumini Auwal SA February 24, 2026

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USA

Trump tells Americans ‘the best is yet to come’ ahead of national address

President Donald Trump has told Americans that “the best is yet to come” as he prepares to deliver a nationally televised address from the White House, promising to outline what he sees as major achievements and future plans for the country. The primetime speech, scheduled for Wednesday at 9 p.m. Eastern Time, comes as recent polls show growing public dissatisfaction with his handling of the economy and cost of living.​ In a social media post announcing the address, Trump said it had been “a great year” for the United States and insisted that better days lie ahead. He is expected to use the speech to defend his economic agenda, immigration policies and security measures, while arguing that his administration is steering the country towards renewed prosperity.​ The president is likely to emphasise job creation, stock market gains and efforts to […]

Abdulmumini Auwal SA December 17, 2025

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Nigeria

More Money For Govt Yet Nigerians Get Poorer

A new analysis has shown that funds shared by the Federation Accounts Allocation Committee to the three tiers of government have surged sharply in the last four years, yet living conditions for most Nigerians keep deteriorating. The report revealed that total FAAC allocations jumped from about N9.18 trillion in 2022 to N10.9 trillion in 2023 and N15.26 trillion in 2024, an increase of roughly 66 percent within two years.​ Despite this rise in public revenue, poverty indicators remain grim, with more households struggling to afford food, transport, health care and housing. Rising inflation, weak job growth and the impact of subsidy removal have combined to wipe out any potential benefits of higher government earnings for ordinary citizens.​ Data in the report show that states and local governments have also benefited significantly from the higher inflows, receiving record amounts from FAAC […]

Abdulmumini Auwal SA December 13, 2025

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USA

Trump Signs Order Cutting Tariffs on Beef, Coffee, and Other Essential Imports

President Donald Trump signed an order exempting agricultural imports such as beef, bananas, coffee, tomatoes, and more from US tariffs, effective Thursday, to mitigate cost-of-living pressures. This move comes as American voters face rising prices, especially for beef and coffee, which have jumped roughly 20% this year due to climate shocks and disrupted trade. The tariff exemptions also include avocados, coconuts, and pineapples—products not grown in the US in sufficient quantity. Coffee industry leaders praise the decision, saying it will stabilize prices for consumers and secure supply for businesses. The order follows new trade deals with Argentina, Guatemala, Ecuador, and El Salvador, which also benefit from tariff waivers for certain agricultural goods. While Trump’s administration maintains tariffs on some items to address perceived unfair trade practices, these exemptions specifically target commodities critical for domestic demand and affordability. Policymakers acknowledge that […]

Abdulmumini Auwal SA November 15, 2025

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international

Doctors in England Launch Five-Day Strike Over Pay and Training Jobs

Thousands of resident doctors in England began a five-day strike—their longest ever—on November 14, protesting stagnant pay and lack of training positions. This marks the 13th medical walkout since March 2023, as the National Health Service (NHS) reels from chronic understaffing and Britain’s prolonged cost-of-living crisis. The British Medical Association (BMA) is demanding a 26% pay increase to match real earnings from two decades ago, and more training posts for junior medics struggling to secure consultant pathways. Government health minister Wes Streeting condemned the strike, branding it “political posturing,” arguing doctors recently received a 28.9% pay raise—the highest public sector award in two years. Resident doctors counter that over 30,000 candidates now vie for only 10,000 posts needed for long-term career progression, leaving many without jobs after years of training. Strikes by nurses, teachers, lawyers, and other workers continue to […]

Abdulmumini Auwal SA November 14, 2025

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Nigeria

NLC Demands Urgent Minimum Wage Review, Says ₦70,000 Unsustainable

The Nigeria Labour Congress (NLC) and federal civil servants have called on the Federal Government to urgently review the national minimum wage, insisting that the current ₦70,000 is no longer realistic in the face of rising inflation and economic hardship. President Bola Tinubu had signed the new National Minimum Wage Bill into law in July 2024, raising the wage from ₦30,000 to ₦70,000 across the public and private sectors. But workers now argue that the fast-rising cost of living has eroded its value. Recent wage increases in several states have intensified pressure on the federal government. Imo State raised its minimum wage to ₦104,000 in August 2025, while Lagos and Rivers pegged theirs at ₦85,000, with Lagos promising a further rise to ₦100,000 in 2025. Other states like Bayelsa, Niger, Enugu, and Akwa Ibom approved ₦80,000; Ogun and Delta ₦77,000; […]

Abdulmumini Auwal SA September 7, 2025

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Ahafo

Overseas‑Trained Doctors Avoid UK Over High Living Costs, Poor Pay and Quality of Life

A recent General Medical Council (GMC) survey of over 3,000 overseas-trained doctors reveals 84% believe the US, Australia, and Canada offer better salaries than the UK—and only 5% disagree.The UK lagged behind in 14 of 15 categories, including salary, cost of living, patient care quality, and workplace respect . Pay vs. Living Costs Although the UK offers an easier registration and immigration process, many doctors report being turned off by low NHS salaries in the face of high housing and living expenses—often preferring countries where compensation better reflects cost of living . High Turnover, Low Retention The UK’s lower pull isn’t limited to entry: nearly 50% of overseas doctors leave within a year, many due to dissatisfaction with work culture, excessive bureaucracy, and lack of professional warmth.This turnover compounds NHS staffing gaps already reliant on foreign recruitment. Domestic Policy Pressures […]

Ahmad June 22, 2025

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Nigeria

Nigeria’s Inflation Hits 36.8% – Highest in 28 Years: Experts Warn of Deepening Economic Crisis

Nigeria's inflation rate has surged to 36.8%—the highest level since 1997—according to data released today by the National Bureau of Statistics (NBS). The alarming spike, up from 33.2% in March 2025, reflects worsening economic conditions, with food inflation reaching a staggering 42.1%. The Central Bank of Nigeria (CBN) has called an emergency monetary policy meeting next week, while President Bola Tinubu meets with state governors to address the crisis. Key Drivers of Inflation Surge 1. Food Price Crisis Staple food prices (rice, beans, garri) have doubled in the past year. Farmers' herders clashes in the North and flooding in key agricultural states (Benue, Kano) continue to disrupt food supply. 2. Energy & Transportation Costs Diesel prices now at ₦1,800 per liter, forcing businesses to cut operations. Petrol scarcity persists despite NNPC’s assurances, with black market rates hitting ₦1,200/liter. 3. Naira Depreciation The Naira trades at ₦1,850/$1 in the parallel market despite CBN interventions. Dollar shortages cripple manufacturers […]

Ahmad April 11, 2025

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