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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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Entertainment

Gospel Singer New Jerusalem Dies at 53, Leaves Family and Fans in Mourning

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Nigerian Gospel Artist Israel Terhemba Ikyereve, popularly known by his stage name New Jerusalem, has reportedly passed away.

The late gospel singer passed away at the age of 53, friends and family as well as the government in Benue state mourns the loss of the singer.

The date of burial was also announced by his family, on Saturday, July 5, 2025, in Sati Agirigi, Mbamo, Shitile, Katsina-Ala LGA of Benue State.


 

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Fubara Disowns 2027 Campaign Materials, Says He Only Wants Peace for the State

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Suspended Rivers State Governor, Sim Fubara, has distanced himself from campaign materials being circulated ahead of the 2027 elections. Fubara made it clear that he never approved the production of caps, shirts, or any other campaign items for the next general election.

Speaking to his supporters in Port Harcourt on Saturday, Fubara stressed that his focus is on restoring peace and stability in the state, not on political campaigns. His reaction follows the recent resolution of the political crisis in Rivers State by President Bola Tinubu.

The clash between Fubara and the Minister of the Federal Capital Territory had sparked months of tension, which eventually led to Fubara’s six-month suspension from office. Tinubu even declared a state of emergency in Rivers State during the height of the crisis.

However, the president stepped in last week, holding talks with all parties at the Presidential Villa in Abuja, leading to a temporary truce. Fubara expressed his frustration over the campaign materials, saying, “I was really upset when someone sent me a video of people producing caps and shirts for the 2027 elections.

“I didn’t approve that, I didn’t send anyone to do that. For now, what Rivers State needs is peace so that we can focus on progress and development.”

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Pastor Adeboye to Lead National Prayers for Nigeria’s Failing Economy

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The General Overseer of the Redeemed Christian Church of God, Pastor Enoch Adeboye, will be leading a national prayer session focused on reviving Nigeria’s struggling economy. The prayer is scheduled to take place during the church’s July 2025 Thanksgiving Service, themed “Divine Intervention”, at the RCCG national headquarters in Oyingbo, Lagos.

Speaking ahead of the event through his Special Assistant on Administration, Pastor Dele Balogun, Pastor Adeboye acknowledged that both Nigeria and other countries are facing tough times. But he believes the current hardship is not beyond repair if people embrace faith and take positive action.

“Our nation is going through serious challenges, just like other parts of the world. But the truth is, we can overcome them with faith, as long as we don’t give room to fear or doubt,” Adeboye said. He encouraged Nigerians to reject negative confessions and instead focus on faith-driven solutions, adding that with God’s intervention, the country’s economic situation can still turn around.

The upcoming prayer session, according to him, is not just about asking for change but about opening doors to new opportunities and paving the way for national transformation.


 

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