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The value of ₦40,000 in 2015 equivalent to over ₦500,000 today – Farah Dagogo
A former member of the National Assembly, Dr Farah Dagogo, has complained about the decrease of value in Nigeria, stating that ₦40,000 in 2015 is equivalent to over ₦500,000 in today’s economy.
The former lawmaker expressed grave concerns about worsening economic indicators, predicting increased hardship for citizens. He described the current living conditions in the country as bleak and questioned why the population continues to suffer despite Nigeria’s wealth of natural resources. He emphasized that purchasing power has drastically declined over recent times, noting that hyperinflation levels have reached unprecedented heights not seen even during the civil war.
The value of ₦40, 000 in 2015 is equivalent to over ₦500, 000 in today’s Nigeria in 2024. Criss-cross the costs of goods and services during this period and vis-a-vis the reality of today and we all will come to that sad realisation. That was why labour was justifiably demanding for a living wage.
“The inconsolable unavoidable truth is that the value of the money most people are getting or earning in 2024 is not too different from that of 2015, but the purchasing powers have practically gone out the window,” he said in a statement issued by his media aide, Ibrahim Lawal, on Saturday, June 15, 2024. “Anti-people and inhuman economic policies have helped put the people in a terrible state. Money that could comfortably procure over 10 50kg bags of rice in 2015 can only buy one now, yet no improvement in the real money in the hands of the people.
“Something has to give way, this cannot continue. These sufferings and hardships have to be remedied. Unfortunately, optics point to further pains for the citizenry,” he added.
The Federal Road Safety Corps (FRSC) has reportedly deployed 1,889 personnel across Kano State ahead of the Eid-el-Kabir celebrations.
This was done to ensure the safety of people traveling in and out of the state during the festive period.
In a statement, the agency said: “The special patrol is part of routine operational measures introduced during festive periods when there is usually high traffic volume on major roads.”
“The aim is to reduce road traffic crashes, minimise congestion, and ensure the safety of lives and property during the Eid-el-Kabir celebrations.”
The All Progressives Congress Lagos State chapter has released the names of its candidates for the House of Representatives in the 2027 elections.
The winners of Ikeja, Agege, and Ikorodu federal constituencies are James Abiodun Faleke (Ikeja Federal Constituency), Mudashiru Ajayi Obasa (Agege Federal Constituency), and Babajimi Benson (Ikorodu Federal Constituency).
Others include Muftau Egberongbe (Apapa), Moses Olanrewaju (Amuwo-Odofin), Adeyemi Alli (Mushin I), Moses Oluwatosin Fayinka (Mushin II), and Fuad Kayode Laguda (Surulere I).
It has been reported that the Ebola virus is rising again and there have been some cases. This has caused fear in many, with talks of different viruses spreading.
Amid this concern, the Federal Airports Authority of Nigeria (FAAN) reassured the people that no trace of Ebola has been confirmed in the country, despite the outbreak in Africa.
FAAN shared that they have been on the lookout for travellers who may have symptoms, and so far there is none.
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