Business
Minister Estimates N500 Billion Economic Damage from EndBadGovernance Protests
Dr. Doris Uzoka Anite, the Minister of Industry, Trade, and Investment, has disclosed that the ongoing EndBadGovernance protests have inflicted significant economic damage, estimated at around N500 billion.
In a statement shared on her official X account, she expressed her concern over the tragic loss of life and the widespread destruction caused by the protests.
Her report highlighted that goods valued at approximately N52 billion have been destroyed, and the death toll has tragically reached 21.
She emphasized that the looting and other disruptions resulting from the protests have caused severe setbacks for businesses and entrepreneurs throughout the nation.
Dr. Anite conveyed her deep sorrow for the lives lost, extending her condolences to the grieving families.
She underscored that the substantial financial losses and disruptions to economic activities represent a grave challenge for the country’s economic stability.
She called for a shift towards more peaceful and constructive dialogue as a way to honor those who have lost their lives and to address the pressing issues at hand.
Nigerian fintech company OPay has introduced new security features to improve the safety of its application.
The company unveiled the Emergency Lock and Safety PIN features to give customers better control over their funds and provide added protection against fraud and unauthorized transactions.
The Emergency Lock feature allows customers to instantly freeze their OPay account with a single tap whenever they sense a threat or believe their account may be at risk.
The newly launched Safety PIN introduces an additional layer of security, helping customers protect themselves in situations where they may be forced to make a transfer or payment against their will.
The Federal Government of Nigeria has spoken on the agriculture sector of the country and shared that, in its current state, it needs more capital as it cannot stand alone without it.
They stated that even more capital will be needed in order to transform the agricultural sector and improve food production in Nigeria.
“Relying solely on public capital will not suffice to finance the transformation of Nigeria’s agricultural sector. Similarly, private capital will not be mobilised at the necessary scale unless the associated risks are comprehensively understood, appropriately allocated, and effectively managed.”
It has been noted that there is now an increase in fuel all around Nigeria, from … to 1000 plus in fuel stations.
It was also noted that Dangote Petroleum Refinery increased the price to 1,175 per litre and diesel has been increased to 1,620 per litre.
This new spike in fuel increase has caused Nigerians to lament widely, wondering why this change happened all of a sudden.
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