Wages have become the top issue for Nigeria’s organised labour movements in the past year. Reacting to recent increases in the cost of living, the labour movement has been calling for an upward review of the national minimum wage, currently N30,000 (US$24) a month. The Conversation’s Adejuwon Soyinka asks economics professor Stephen Onyeiwu if Nigeria’s […]
why a gradual approach would have been better
Nigeria removed fuel subsidies entirely in May 2023. This came as a surprise because of the political risks associated with subsidy removal. Previous administrations were reluctant to jettison the subsidies. The subsidies had been in place since the 1970s, when the government sold petrol to Nigerians at a price below cost – though most consumers […]
Bongo’s rule ended by failed promises and shifting alliances
The Bongo family’s 56 year hold on power in Gabon was abruptly brought to an end with a military coup on 30 August. The military takeover happened hours after election results were announced that gave Ali Bongo Ondimba a third term. Gyldas Ofoulhast-Othamot, a professor of public and international affairs with published research on Gabon, […]
Swelling grocery bills are pummeling the poorest – who spend over a quarter of their incomes on food
CC BY-ND The cost of eggs and bread is soaring – a trend that’s particularly punishing for the poorest Americans. Average food prices climbed an annualized rate of 10.4% in June, the Bureau of Labor Statistics reported on July 13, 2022. The gains were driven primarily by the cost of groceries, which jumped the most […]
Tinubu inherits Nigeria’s high debt – an economist analyses what this means for the country’s future
As the 16th president of Nigeria, Bola Ahmed Tinubu inherits an economy that is grappling with inflation, chronic unemployment, extreme poverty, crumbling infrastructure and insecurity. Nigeria’s debt profile stands out among these problems like a sore thumb. The country’s external debt stock – what it owes non-residents – was US$41.69 billion in 2022. Multilateral lenders […]