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The value of ₦40,000 in 2015 equivalent to over ₦500,000 today – Farah Dagogo
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.
Senate President Godswill Akpabio has expressed strong confidence in President Bola Tinubu’s chances of dominating the 2027 presidential election. Speaking at a grand reception in Uyo to welcome Akwa Ibom State Governor Umo Eno into the All Progressives Congress (APC), Akpabio said he believed Tinubu would secure 99.9% of the votes in the upcoming election.
Governor Eno recently left the Peoples Democratic Party (PDP) for the APC, blaming unresolved leadership issues within his former party for the switch. Akpabio, addressing the crowd, praised Eno’s political journey, noting how difficult it was for him to become governor. But he assured him that with his new political alignment, things would take a different turn.
He boldly predicted that Eno would become the first governor in the state’s history to be re-elected in 2027, adding that both the governor and President Tinubu were in for a smooth political ride moving forward.
Catholics across Benue State came together on Thursday in a heartfelt prayer walk, seeking God’s help for peace to return to the troubled region. The walk, which drew large crowds from different parishes, was marked by hymns, placards, and quiet reflection. Priests, religious groups, and lay faithful joined in solidarity as they moved through the streets.
They also prayed for the victims of the recent violence, including those killed in the attack on Yelwata, Guma Local Government Area, where many lives were lost. Those who took part in the procession spoke out about the rising insecurity and called for healing, unity, and a renewed sense of justice in the state.
The recent surprise visit to Benue State by President Bola Tinubu has stirred many reactions from the public.
It was reported that some school children who were outside were urged to welcome the president under the rain.
It was also noted that what started as a simple welcome turned into a political rally for the President and the Governor of the state.
This gained many criticisms from the public, especially online, as they shared their thoughts on the visit and the welcome. Many highlighted the fact that it was meant to be a condolence visit and not a celebratory event.
