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Nigeria’s Naira, Alongside Ethiopia and South Sudan, Ranked Among Africa’s Worst-Performing Currencies
Nigeria’s currency, the naira, has been ranked among the worst-performing currencies in Africa, alongside the Ethiopian birr and South Sudanese pound. The ranking, which has raised concerns among financial experts and citizens alike, highlights the ongoing economic challenges facing these countries, particularly in managing currency stability and inflation.
The naira’s decline has been attributed to a combination of factors, including rising inflation, dwindling foreign reserves, and a high demand for foreign currency, particularly the US dollar. Over the past year, the naira has experienced significant depreciation against major global currencies, further weakening the purchasing power of Nigerians and contributing to a rise in the cost of living. The currency’s poor performance has led to heightened inflation, especially in the cost of imported goods and services.
Ethiopia and South Sudan are facing similar economic pressures. The Ethiopian birr has struggled under the weight of political instability and high inflation, while South Sudan’s economy, which is largely dependent on oil exports, has been hampered by low production and internal conflict. Both countries, like Nigeria, are grappling with the effects of external debt, declining foreign investment, and global economic pressures.
Analysts have noted that for Nigeria, addressing the naira’s poor performance requires a combination of strong fiscal policies, increased domestic production, and a more diversified economy. The Central Bank of Nigeria has implemented several measures, including the unification of exchange rates and restrictions on forex access for certain imports, but the desired impact on currency stabilization has yet to be fully realized.
In conclusion, the naira’s ranking as one of the worst-performing currencies in Africa underscores the need for comprehensive economic reforms to restore confidence in Nigeria’s financial system and improve overall currency stability.
Governor Babajide Sanwo-Olu has made it clear that his government will not tolerate any form of assault on officers of the Lagos State Traffic Management Authority (LASTMA). Speaking through his deputy, Dr Obafemi Hamzat, at the Second Lagos Traffic Conference on Tuesday, the governor said anyone caught attacking traffic officers will be made to face the law.
The event, held in honour of LASTMA’s 25th anniversary, brought together key stakeholders to reflect on traffic challenges and explore new solutions under the theme: “Enhancing Traffic Efficiency and Safety on Lagos Roads: Challenges, Opportunities, and Innovations.”
Sanwo-Olu praised the efforts of LASTMA officers who he said work in tough, often dangerous conditions to keep Lagos roads under control. He acknowledged their sacrifices and dedication, saying their presence is the thin yellow line between traffic order and chaos.
“I truly commend every LASTMA officer for your courage and commitment. You’ve stayed strong even when the job puts you at risk, and that speaks volumes about your dedication,” he said. He also paid respects to officers who died in the line of duty, calling them heroes whose sacrifices would always be remembered.
Looking ahead, Sanwo-Olu shared plans to modernize LASTMA with technology that fits today’s traffic demands. He said the government would increase investment in smart systems such as AI-powered tools, automatic number plate recognition, and drone surveillance. These tools, he explained, will make it easier to monitor traffic in real time, respond quickly to incidents, and improve the overall movement of vehicles across Lagos.
Federal Government releases further details for the burial of the Ex president, Muhammadu Buhari.
It was shared that the burial will occur on Wednesday 16th of July, 2025.
This information was revealed in an official statement released by presidential aide Sunday Dare on X platform.
The statement briefly states that a committee will be set for the burial to be done properly and for the events to be held. The Federal Government then makes a list of the ministers needed to join this committee to hold a successful burial ceremony for Buhari.
It has been reported that two boys, aged 12 and 13, escaped from Boko Haram captivity after three years. The two boys arrived at the police station at 5:30 pm on July 12, 2025.
They described their story and how they escaped to the police, giving insight into what happened to them over the past few years.
A security analyst who was present at the narration gave a brief summary of what had occurred to the boys, sharing that they were kidnapped alongside their parents. However, their captors relaxed their guard earlier due to the boys’ stature and weakness.
The boys revealed how they trained other captives for combat, but they were both assigned to service the firearms. They also revealed their escape plan, which they had devised 10 months ago, and then took advantage of an opportunity to escape.
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