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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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Nigerian Student Wins 2026 Spelling Bee World Championship

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It has been reported that a Nigerian won the 2026 Spelling Bee World Championship, which was held in Shanghai, China. The winner, Chinedu Great Okdediachi, has now returned home to Delta State after his victory.

It can be noted that the student had already emerged as one of the Gold Award winners in the Middle School Group category.

“Congratulations once again, Chinedu! Your success continues to inspire young Nigerians to pursue excellence through education. Welcome home, Champion!”

The young star has made Nigeria proud by winning the international competition.


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‘My Reforms Have Stabilised Nigeria’s Economy’ — President Tinubu

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President Bola Ahmed Tinubu has stated that his administration’s economic reforms have helped stabilise Nigeria’s economy and placed the country on a path toward steady growth.

He said “My reforms have stabilised Nigeria’s economy and put it on a path of steady growth.”

The President added that the reforms are creating more opportunities for development across the country.

However, many Nigerians reacted online, with some questioning the impact of the reforms and saying they have yet to experience the positive effects.


 

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Nyesom Wike Says He Knows Civil Servants Don’t Like Him

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Nigerian politician and FCT Minister, Nyesom Wike, has said that he is aware many civil servants do not like him.

He shared that he understands why he is unpopular among some civil servants, explaining that funds previously spent on unnecessary conferences are now being redirected to road construction projects.

He said “Some people say conferences for corruption and I say what is that? You are going for conferences to do what? These are ways government funds are being diverted. I say put this money in this road here and the people will get the impact.”


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