Connect with us

News

The value of ₦40,000 in 2015 equivalent to over ₦500,000 today – Farah Dagogo

Published

on

photo: Nigeria currency

A former member of the National Assembly, Dr Farah Dagogo, has complained about the decrease of value in Nigeria, stating that ₦40,000 in 2015 is equivalent to over ₦500,000 in today’s economy.

The former lawmaker expressed grave concerns about worsening economic indicators, predicting increased hardship for citizens. He described the current living conditions in the country as bleak and questioned why the population continues to suffer despite Nigeria’s wealth of natural resources. He emphasized that purchasing power has drastically declined over recent times, noting that hyperinflation levels have reached unprecedented heights not seen even during the civil war.

The value of ₦40, 000 in 2015 is equivalent to over ₦500, 000 in today’s Nigeria in 2024. Criss-cross the costs of goods and services during this period and vis-a-vis the reality of today and we all will come to that sad realisation. That was why labour was justifiably demanding for a living wage.

“The inconsolable unavoidable truth is that the value of the money most people are getting or earning in 2024 is not too different from that of 2015, but the purchasing powers have practically gone out the window,” he said in a statement issued by his media aide, Ibrahim Lawal, on Saturday, June 15, 2024. “Anti-people and inhuman economic policies have helped put the people in a terrible state. Money that could comfortably procure over 10 50kg bags of rice in 2015 can only buy one now, yet no improvement in the real money in the hands of the people.

“Something has to give way, this cannot continue. These sufferings and hardships have to be remedied. Unfortunately, optics point to further pains for the citizenry,” he added.

Advertisement

 

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Betty Akeredolu Shares How Changing Her Diet Helped Her Survive Cancer

Published

on

Photo source: Google

Betty Anyanwu-Akeredolu, the widow of late Ondo State Governor Rotimi Akeredolu, has shared how cutting out starchy foods helped her survive breast cancer, which she was diagnosed with 27 years ago.

In a heartfelt social media post marking World Cancer Day, Betty revealed that eliminating foods like pounded yam, eba, amala, and akpu from her diet played a key role in her recovery.

She also stopped drinking Coke and other sugary soft drinks, understanding that sugar and starch can fuel the growth of cancer.

“If stopping Coke and other soft drinks, as well as swallowing eba, pounded yam, amala, and akpu, would prolong my life—knowing that starchy foods and sugar fuel the growth of cancer—so be it. That was exactly what I did,” she shared in her post.


 

Advertisement
Continue Reading

News

Nigeria’s 2025 Budget Raised to N54.2 Trillion Due to Increased Revenues

Published

on

Photo source: Google

President Bola Tinubu has announced an increase in Nigeria’s proposed 2025 annual budget, raising it from N49.7 trillion to N54.2 trillion. The adjustment was made through official letters sent to both the Senate and the House of Representatives.

During a Senate plenary session, Senator Godswill Akpabio read the letter, explaining that the increased budget was due to additional revenues generated by key government agencies.

The Federal Inland Revenue Service (FIRS) contributed an extra N1.4 trillion, while the Nigeria Customs Service brought in an additional N1.2 trillion. Furthermore, other government-owned agencies added another N1.8 trillion to the national coffers.

Senate President Godswill Akpabio, responding to the president’s request, directed the Senate Committee on Appropriations to expedite the budget review process.

He assured that the consideration and passage of the budget would be completed before the month ends, ensuring timely action on this crucial fiscal matter.

Advertisement

 

Continue Reading

News

Tinubu Orders Military to End Banditry and Insecurity by 2025

Published

on

Photo source: Google

In a decisive move to tackle Nigeria’s security challenges, President Bola Tinubu has mandated the military to eradicate banditry and related criminal activities by the end of 2025.

This directive was conveyed by Minister of Defence, Abubakar Badaru, who emphasized the military’s unwavering commitment to this mission.

Minister Badaru highlighted the intensified military operations against bandits, noting that these criminal elements are currently in retreat. He assured that the armed forces will persist in their efforts until all threats are neutralized.

“The bandits are now on the run, but the military will not rest until we end this,” Badaru stated. “The president has given us marching orders to end insecurity in every part of our country by the end of this year.”

To bolster these efforts, the Minister has called for the acquisition of an additional 50 Armored Personnel Carriers in the 2025 budget, aiming to enhance the military’s operational capabilities against banditry nationwide.

Advertisement

 

Continue Reading

Trending