LAGOS JULY 21ST (NEWSRANGERS)-Shoppers and traders in some Lagos markets have expressed frustration that the recent drop in Nigeria’s headline inflation rate has not translated into any relief at the market, as the prices of staple food items remain significantly high. The National Bureau of Statistics (NBS) last week announced that the country’s headline inflation…
LAGOS JANUARY 16TH (NEWSRANGERS)-Nigeria’s foreign reserves have taken a significant hit, dropping by $359.91 million in just one week to settle at $40.56 billion as of January 13, 2025. This sharp decline follows a brief high of $40.91 billion recorded on January 7, 2025, according to the latest figures from the Central Bank of Nigeria…
LAGOS DECEMBER 25TH (NEWSRANGERS)-President Bola Tinubu has highlighted some measures his government will adopt to rein in stubbornly high inflation to 15 percent next year. Tinubu, during a first presidential media chat on Monday night, said one of the ways he plans to slow prices that have shrunk citizens’ incomes is to “produce more for…
LAGOS AUGUST 10TH (NEWSRNAGERS)-Days after hundreds of thousands of people took to the streets across Nigeria to protest against inflation and other economic hardships, clothing seller Michael Nwankwo is still counting the cost of the business he lost. At least 22 people died, according to Amnesty International, in the demonstrations that started on Thursday last…
LAGOS JULY 29TH (NEWSRANGERS)-Labour Party Presidential Candidate in the 2023 election, Mr. Peter Obi, has advised Nigerians against trying to influence or dictate to the youth what to do. Obi made these remarks while speaking to the press during the installation ceremony of Rtn. Au. Nkemdili Nnonyelu as the 8th District Governor of Rotary International,…
LAGOS JUNE 7TH (NEWSRANGERS)-President Bola Tinubu is considering a six months suspension of the collection of taxes, levies or charges in business of few sectors of the economy. Recipients of the tax suspension will include Okada riders, transporters of goods, fuel transporters, wheelbarrow and cart pushers, shops owners, market traders, amongst others. This was contained…
LAGOS APRIL 17TH (NEWSRANGERS)-As Naira appreciated further against the United States dollar across both the authorised and unauthorised foreign exchange markets on Monday, inflationary pressures persisted across the country. According to market data published on the FMDQ website, naira closed Monday at N1,136.04/$1 against N1,142.38 recorded in the previous market session last Friday. Monday’s gain…
LAGOS FEBRUARY 28TH (NEWSRANGERS)-Thousands of Nigerians rallied against soaring living costs on Tuesday as the worst economic crisis in a generation leaves many struggling to buy food. Demonstrators hoped nationwide protests called by the Nigeria Labour Congress (NLC) umbrella union would pile pressure on the government, which brought in reforms last year that have had…