Nigeria

In the latest Poverty and Equity Brief released by the World Bank in April 2025, the situation in Nigeria paints a rather grim picture: an alarming 41.3% of its urban population lives in poverty, with rural communities bearing an even heavier burden. The factors contributing to this crisis are multifaceted, encompassing economic stagnation, rampant inflation, and widespread insecurity that have collectively stifled growth in recent years. To fully grasp the gravity of this situation, consider that 30.9% of Nigerians were…

In an eyebrow-raising turn of events, the Central Bank of Nigeria (CBN) reported a staggering loss of 13.9 trillion naira (approximately $9 billion) in 2024 due to settling overdue derivatives contracts. This significant financial setback is part of the bank's broader strategy to reduce foreign currency liabilities and bolster investor confidence in the naira, as noted in a recent Bloomberg report. Reflecting on this context, one must wonder: what does this mean for the average Nigerian citizen? Are we…

In a recent announcement, Starlink has rolled out a new pricing structure for its monthly subscriptions in Nigeria, igniting various responses across the country. This follows several unsuccessful attempts to institute a price increase between October 1 and December 28, 2024. The previous efforts had sparked criticism from the Nigerian Communications Commission (NCC), which characterized the proposed hikes as unilateral decisions that clashed with Nigeria's telecommunications pricing regulations. Nonetheless, in…

Understanding Nigeria's New Visa Overstay Regulations Beginning on September 1, 2025, a significant shift in Nigeria's approach to visa overstays will take place. Foreign nationals who exceed their visa allowances will incur a daily fine of $15 for each day they remain in the country beyond their authorized stay. This new regulation is not merely a policy adjustment but an integral part of Nigeria's broader immigration reform strategy. The impetus behind these reforms is to enhance…

Recent cuts to international funding, notably the stop-work orders imposed by the United States, have begun to take a heavy toll on humanitarian initiatives and local economies that depend heavily on aid operations. This predicament is exemplified by the situation in Maiduguri, Nigeria, as reported by The New Humanitarian. Often nicknamed the heart of aid efforts battling Boko Haram's relentless insurgency, Maiduguri has witnessed notable economic revival, significantly driven by the initiatives of non-governmental…

Nigeria’s Five-Year Vision: A New Era of Economic Growth The board of directors at the African Development Bank has made a landmark decision by approving the Country Strategy Paper for Nigeria, which will outline the strategic priorities for the years 2025 to 2030. This five-year plan is not just a document; it is a blueprint for transformative change, aimed at enhancing economic resilience and fostering widespread prosperity in Nigeria. As articulated on the bank's official website, the initiative is designed “to drive…

In a recent interview with the American talk show host Sherri Shepherd, Senegalese-American singer Akon ignited a firestorm of debate when he asserted his instrumental role in the evolution of Afrobeats—a genre that has captivated audiences worldwide since its emergence in West Africa. Akon, known for his catchy hits and distinctive style, claimed that his early collaborations with Nigerian artists, including legends like Wizkid, PSquare, and D'banj, during the late 2000s helped pave the way for the vibrant sounds that now…

Tragedy on the Road: A Harrowing Day in Northeastern Nigeria In a grim testament to the ongoing conflict in northeastern Nigeria, deadly explosions shattered the peace on a bustling road connecting the towns of Rann and Gamboru. The tragedy left at least 26 people dead, many of whom were innocent women and children. Have we become numb to such news, a mere statistic in a conflict that's far from resolution? The horrific event occurred on Monday, reportedly orchestrated by affiliates of the Daesh terrorist group, known…

MTN Nigeria's Robust Q1 2025 Performance In an impressive display of resilience and strategic maneuvering, MTN Nigeria reported a staggering revenue of N1 trillion for the first quarter of 2025. This achievement signifies a remarkable 40.5% increase year-on-year, a substantial leap from the N752.9 billion recorded in Q1 2024. One can't help but wonder: What does this surge mean for the broader telecommunications landscape in Nigeria? The driving force behind this robust performance can primarily…

As anticipation mounts for the upcoming election to lead the African Development Bank (AfDB) on May 29, 2025, five distinguished candidates are stepping into the spotlight, each eager to share their distinctive visions for steering the institution toward a brighter future. With current president Dr. Akinwumi Adesina set to conclude his two-term tenure on August 31, 2025, the stakes couldn't be higher. Adesina has championed social and economic development across the continent during his leadership, leaving a profound impact…