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

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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.


 

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Patience Jonathan Rules Out Return to Aso Rock, Reflects on Stress of Presidential Life

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Photo: Patience Jonathan

Former First Lady Patience Jonathan has ruled out any possibility of returning to Aso Rock, citing the immense stress of living in the presidential residence.

Reflecting on her eight-year tenure there, she expressed relief at having left, noting she feels younger since stepping down.

Jonathan emphasized the challenges faced while her husband, Goodluck Jonathan, was in office, particularly during high-profile incidents like the Chibok schoolgirls’ kidnapping.

Since leaving office in 2015, she has embraced a peaceful private life.

Video Credit: TVC NEWS


 

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Couple Arrested for Alleged Child Abuse and Starvation in Anambra State

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A couple, Mr. Uche and Mrs. Peace Mbonu, were arrested in the Osumenyi community of Nnewi South LGA, Anambra State, for allegedly abusing and starving their five underage sons.

The arrest followed reports of neglect and deprivation, with the children purportedly left to eat raw rice due to a lack of food.

The couple denied the accusations, claiming the children had a habit of eating raw rice.

The state’s Women Affairs Commissioner, Ify Obinabo, condemned the abuse, and the couple has been handed over to the police for further investigation and prosecution.


 

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Fatal Crash Amid Heavy Rain on Third Mainland Bridge

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Photo Credit: Punch News

A tragic collision on Saturday morning claimed a life on Lagos’ Third Mainland Bridge, spotlighting the perilous consequences of speeding in adverse weather conditions. The incident involved a Mini Truck and a Toyota Camry, with excessive speed cited as the cause amidst heavy rainfall, according to LASTMA. Three survivors were rescued near Unilag waterfront by LASTMA operatives.

Mr. Sola Giwa, the Governor’s Special Adviser on Transportation, expressed deep concern over the incident and reiterated the importance of adhering to speed limits enforced by Lagos State law. Immediate medical assistance was provided, and swift traffic management efforts ensured minimal disruption.


 

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