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Nigeria 2024: Key Moments That Shaped Nigeria Economically and Politically

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As 2024 draws to a close, it’s an opportune moment to reflect on the events that have significantly influenced Nigeria throughout the year.

From political shifts to economic developments and social challenges, this year has been marked by pivotal moments that have shaped the nation.

Political Landscape and Governance

The year commenced with the Ibadan explosion in January, which brought national attention to urban safety and regulation.

This incident showed the critical need for stringent safety measures in densely populated areas.

In the same month, the Ondo and Edo governorship elections were held, with the ruling party securing victories.

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In April, a significant development occurred when a schoolgirl abducted during the Chibok kidnapping in 2014 was rescued in Gwoza, Borno State, along with her three children.

Economic Developments

In December, Shell received approval from Nigeria’s oil minister for the sale of $2.4 billion worth of onshore and shallow-water assets to Renaissance Group.

This was Shell’s exit from nearly a century of onshore operations in Nigeria and was part of a larger withdrawal by Western energy companies, including Exxon Mobil, Eni, and Equinor.

The sale faced a block in October by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) due to concerns about Renaissance’s capacity to manage the assets, which are estimated to hold 6.73 billion barrels of oil and 56.27 trillion cubic feet of gas.

Social Challenges and Public Safety

Tragically, in December, at least 13 people, including four children, died in two separate stampede incidents at Christmas charity events in Abuja and Anambra state.

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These incidents occurred as large crowds gathered to receive food and clothing items during a severe cost of living.

There has also been a reoccurring incident of the National Grid collapse. The incident has caused blackouts in regions during the time of its collapse.

Security and Conflict

Throughout the year, Nigeria faced persistent security challenges.

In June, a strike by the Nigerian Labour Congress and the Trade Union Congress disrupted operations at Abuja and Lagos airports and caused nationwide power outages.

Additionally, the conflict with Boko Haram continued, with incidents such as the attack on a convoy in Shiroro, Niger State, in November, resulting in casualties among security forces.

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Sports and International Relations

In February, Nigeria’s national football team faced a setback by losing 2–1 against Ivory Coast in the 2023 Africa Cup of Nations final held in Abidjan.

This loss was a disappointment for fans and showed areas for improvement in the national team’s performance.

The year 2024 has been a period of significant events for Nigeria, which encompasses political shifts, economic changes, social challenges, and security concerns.

As the nation moves forward, these events will undoubtedly influence its development and the well-being of its citizens.


 

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Oyo State Workers Celebrate 13th Month Salary Approved By Governor Makinde

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Oyo State Workers joyfully receive 13th month salary as promised by the Oyo State Governor, Seyi Makinde. The payment was received on the 30th of December 2024. Just two weeks ago Governor Makinde made the promise and approval of 80,000 minimum wage for Government workers.

The Commissioner for Information and Orientation releases a statement on Tuesday, 31st of December “From January 1, 2025, a total sum of ₦143 billion on salaries and wages annually will now be paid by the government in keeping with the approval of the new minimum wage. This represents a whopping 86% increase in salaries and wages”

Oyo state is now one of the three highest workers’ packages in the whole of the federation and has the highest population of government workers in the South West.


 

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Nigerian Politician, Timi Frank Accuses FCT Minister Wike of Betrayal

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The former APC Deputy National Publicity Secretary, Timi Frank, reacts to the recent attacks made by FCT Minister Nyesom Wike against the former River State Governor, Dr Peter Odili.

The disagreement between the pair started out after Peter Odili prevented Wike for monopolizing the state.

Timi Frank reacts by calling Wike and naming him a betrayal. Frank recalls the times Wike also turned his back on other people. He also recalled the activities Wike performed to decide the PDP party during the 2023 elections.


 

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South Korean Court Issues Arrest Warrant for President Yoon After Martial Law Controversy

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A South Korean court has authorized an arrest warrant for President Yoon Suk Yeol following his impeachment and suspension from office.

The Corruption Investigation Office for High-ranking Officials (CIO) requested the warrant, which was approved by a Seoul court.

The Joint Investigation Headquarters, which is handling the case, stated that both an arrest warrant and a search warrant were issued to investigate Yoon’s role in the martial law decision, which has been surrounded by allegations of abuse of power and even claims of orchestrating a rebellion.

Yoon’s legal representative, Yoon Kab-keun, responded to the move, calling it “illegal and invalid.”

He argued that the warrants were issued by an agency without the proper authority, describing the entire action as unlawful.

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