July 2024
1st July 2024

31 July 2024
Bloomberg
Nigeria Tightens Security in Capital Before National Protests
Nigeria deployed security forces in the capital, Abuja, on the eve of nationwide protests over high prices of food and fuel that have exacerbated a cost-of-living crisis in Africa’s most-populous nation…
Neusroom
Kenyans protested to end bad governance successfully, is Nigeria next?
Nigerians want to end bad governance, some people may think this has been long coming but many people wonder how we got here, barely one year after a new administration was sworn in…
30 July 2024
Nairametrics
Average cost preparing a pot jollof rice hits ₦20,000 in June
The average cost of cooking a pot of jollof rice increased by 19.6%, from ₦16,955 to ₦20,274, between March and June 2024. This is according to the latest edition of the SB Morgen Jollof Rice Index, which stated that the increase was driven by price hikes in key ingredients such as tomatoes, peppers, rice, turkey, beef, and others during the period…
News Central
Staple Food Crisis: Jollof Becomes Luxury Amid Rising Prices
As the second quarter of 2024 ends, Nigeria and Ghana continue to face severe food crises, with little improvement in food security. Nigeria’s food inflation remains alarmingly high, increasing from 40.53% in April to 40.87% in June…
Nigerian Tribune
With ₦70,000, check out Nigeria’s minimum wage ranking among top 10 African economies
Despite the natural resources in Africa, the continent is still grappling with a lot of issues. One of such is “minimum wage.” Nigeria has the fourth largest economy in Africa but can barely provide a satisfying salary to its workers. About a decade ago, the minimum wage was ₦18,000; it was increased to 30,000 a few years ago…
29 July 2024
AFP
Nigeria’s planned protests: What we know
Nigeria is bracing for nationwide protests this week over economic hardship. Politicians and the army have warned people against taking to the streets, but organisers say government failings have left them little choice…
New Telegraph
FX Crisis, Others Worsen Nigeria’s Food Insecurity
Food insecurity in Nigeria in the second quarter of the year worsened as a result the country’s foreign exchange crisis which triggered a sharp increase in the costs of pesticides, energy, transportation and essential imported l inputs, a report by SBM Intelligence has said…
News Diary
The Hardship Protests And A Nation On Edge
Protests: Nigeria is presently a nation on the edge. The reason is quite glaring for all to see. The masses, especially the youths, have vowed to organize protests across the country to call government’s attention to the hardship in the land…
28 July 2024
Nigerian Tribune
How Nigeria spent $18.7bn on petroleum imports from 20 countries in one year
Nigeria spent approximately $18.7 billion on the importation of petroleum products, including premium motor spirit (PMS), commonly known as petrol, in 2023 from 20 countries, including those in Africa…
26 July 2024
The Cable
High energy costs, FX restrictions on imports caused food price hike in Q2
SB Morgen (SBM) Intelligence, a geopolitical research firm, says long-standing issues such as conflicts in food-producing regions, climate change, and pest infestations continue to pose significant challenges to food security in West Africa…
25 July 2024
Pulse NG
10 world leaders with the highest annual salaries
World leaders are often the centre of attention in economic discussions as citizens expect more from them based on their huge compensation packages which include monetary and other luxurious gains…
24 July 2024
BusinessDay
Cost of Jollof rice rises 20% in four months, hits ₦20,274
The average cost of preparing a pot of jollof rice for a Nigerian family of five rose by 19.6 percent within four months largely driven by a spike in tomatoes and pepper prices, according to a new Jollof Index report…
The Whistler
Experts Proffer Solutions As Prices Of Beans, Tomatoes, Yam Rise By 250%
The National Bureau of Statistics (NBS) has revealed that the prices of staple foods such as beans, tomatoes, and yams have surged by over 250 per cent within twelve months from June 2023 to June 2024…
23 July 2024
S&P Global
Nigeria’s Dangote refinery begins ULSD production
Nigeria’s new Dangote refinery has commenced production of ultra low sulfur diesel, a company official said July 23, bringing the refiner closer to ambitions to export Euro-5 fuel amid a public dispute with the country’s downstream regulator over its fuel quality…
22 July 2024
FIJ Nigeria
Criminals or Crime Fighters? Inside the Minds of Jungle Justice Perpetrators
It could be “Thief! Thief!!“, “She stole my genitals!” or “He’s gay” – just any indicting phrase that could cause a victim to be crushed under dozens of feet, beaten to a pulp, stripped naked or even burned to death. It is called jungle or mob justice, and it is popular among several Nigerian communities in a hurry to bring to justice a suspect whose actions are deemed anti-social…
21 July 2024
Punch
Searching for wealth in Nigeria, foreigners recount ordeals in kidnappers’ den
The rampant kidnapping of business owners and employees by criminal gangs has become a perennial quagmire repelling foreign investors and stifling the inflow of foreign investment amidst the economic hardship in Nigeria…
19 July 2024
BusinessDay
At ₦70,000, Nigeria’s minimum wage dwarfed by peers in top 10 African economies
The ₦70,000 national minimum wage announced by the Nigerian government on Thursday is still the lowest among top 10 African economies. The federal government announced ₦70,000 as the new minimum wage after months of negotiations with the labour unions…
LegitNG
Top 10 African Countries Minimum Wage As Tinubu Approves $44 Monthly for Nigerian Workers
President Bola Tinubu has approved a new minimum wage of ₦70,000, which is $44.67 per month for Nigerian workers using the closing exchange rate of ₦1566.82 on July 18, 2024…
18 July 2024
BusinessDay
How new waivers will reduce cost of drugs in Nigeria
The recent executive order that aims at reducing the crippling tariffs on medical imports will also increase domestic production and drive down drug prices, which have skyrocketed since last year…
News Central TV
Ghana’s $1bn Cocoa Crisis: Global Market Shockwaves
Ghana’s failure to deliver cocoa beans has triggered a $1 billion loss for trading houses, sending ripples through the global market. Isaac Kofi Agyei from SBM Intelligence Ghana breaks down the causes of this shortfall, its far-reaching implications, and the strategies traders are employing to mitigate losses…
17 July 2024
The Africa Report
Tinubu scrambles to forestall Kenya‑style protests
Drawing inspiration from the protests in Kenya, some Nigerian youths have finalised plans to hold nationwide protests in the coming weeks; a move that has put President Bola Tinubu’s administration in panic mode…
16 July 2024
BusinessDay
Salaries of leaders in top 10 African economies compared to countries’ minimum wage
A recent study has revealed the vast disparity between the salaries of African leaders and the minimum wage in their countries. The study, conducted by SBM Intelligence in the top 10 economies in Africa, found that in some cases, leaders earn hundreds of times more than their citizens…
15 July 2024
BusinessDay
Nigeria police to generate ₦59bn from new vehicle registration
The Nigeria Police Force (NPF) will earn at least ₦59 billion from the new mandatory vehicle registration which will be enforced from July 29, 2024…
FIJ Nigeria
No Mercy in Daba, Where Armed Gangs and Chinese Illegal Miners Flourish
A truck entered the street leading to Ori Oke Igbala Oniwamimo, a Cherubim and Seraphim church in Igbeti in the Olorunsogo Local Government area of Oyo State, on April 7. It was loaded with with batches of minerals and covered with tarpaulin. Off the street was another collection centre for powdered lithium stones, and from there, the truck would take off at 9:34 pm…
13 July 2024
News Central TV
The Rise of Mob Violence in Nigeria: Causes and Consequences
In our latest Big Story, we investigate the alarming surge in mob violence across Nigeria, as revealed by SBM Intelligence’s report “Lynchpins.” Over the past two years, 227 people have lost their lives to this disturbing trend, with accusations ranging from armed robbery and blasphemy to cultural superstitions and political disputes…
12 July 2024
BusinessDay
Firms’ salary bill hits 9-year high amid soaring inflation
Nigeria’s firms have seen their salary bill rise to the highest in at least nine years, as they scramble to retain employees amid soaring inflation, BusinessDay’s findings have revealed…
Nigerians paid over ₦700bn cash bribe to public officials in 2023 – NBS
In 2023, Nigerians paid more than ₦700 billion in cash bribes to public officials, according to a report by the National Bureau of Statistics (NBS). The bureau reveals that the average cash bribe paid in 2023 was ₦8,284, showing an increase from ₦5,754 in 2019. However, when adjusted for inflation, the average bribe size in 2023 was actually 29 percent smaller than in 2019 in terms of what could be bought with the money…
Per Second News
Mob justice in Nigeria: Any end in sight?
In spite of all attempts to reason with him, the determined individuals refused to listen, taking the laws into their own hands like a street vigilante. They took on the roles of judge, prosecutor, and jury, enacting their own version of justice…
11 July 2024
BusinessDay
Farmers’ security cost piles pressure on food prices
Jamiu Ibrahim farms yams, cassava and rice in Benue, Nasarawa and Zamfara states. Ibrahim told BusinessDay that he is often accompanied by a retinue of security guards any time he and his staff go to any of the farms…
Labour demand may cost FG ₦85bn monthly
A ₦250,000 minimum wage demand by organised labour may cost the federal government an additional ₦85 billion per month, a new report by SBM Intelligence has shown. The Africa-focused geopolitical research firm said that with the government injecting such an amount into the payment of wages, it could lead to demand-pull inflation where increased money supply outpaces the availability of goods and services…
The Cable
Can states pay? Lessons from data on Nigeria’s minimum wage debate
On June 3, there was a nationwide blackout after the national electricity grid was shut down. With over 200 grid collapses since 2010, Nigerians are not unaccustomed to periodic power cuts. But that of June 3 was unique because it was not due to any technical fault…
9 July 2024
BusinessDay
Mob violence claims 227 lives in Nigeria
In Nigeria, mob violence has tragically claimed the lives of 227 persons in two years, according to recent findings by SBM Intelligence. The incidents occurring between late May 2022 and June 2024 underscored a spectrum of violence triggered by accusations ranging from armed robbery and blasphemy to cultural superstitions and political disputes…
Weapons smuggling surge raises fresh security concerns
The surging cases of smuggling of arms and ammunition into the country through the nation’s seaports and airports have raised fresh security concerns in the country. There are increased security fears among Nigerians, heightened by the repeated interceptions of a cache of arms and ammunition by the Nigeria Customs Service (NCS) and other security agencies in the nation’s border stations…
8 July 2024
Guardian Nigeria
Flush out terrorists, make Nigeria safe again
Recent reports of Jihadi fighters occupying portions of Nigeria’s Northwest portend an escalation of insecurity, a menace the country has grappled with for over a decade without much success. The government should liaise with security operatives to quickly investigate the reports to prevent another major insurgency in the Northwest, which is already ravaged by banditry and terrorist activities…
5 July 2024
Daily Independent
Borno Suicide Attack: Appraisal Of Tinubu’s Counterterrorism Strategy
During the campaigns leading to the last general elections in the country, Bola Ahmed Tinubu, the then presidential candidate of the All Progressives Congress (APC), said he had drawn a roadmap towards tackling insecurity in Nigeria…
Punch
385,079 firearms, ammunition recovered from criminals in 12 months
At least 385,079 firearms and ammunition were recovered by security agencies from non-state actors across the country in the last 12 months. A breakdown of the number shows that approximately 8,906 firearms and 376,173 rounds of ammunition were recovered by the Nigeria Police Force, the military and the Department of State Services…
4 July 2024
Development Diaries
Move to Create Etiti State: Lawmakers Must Get Priorities Straight
The move by lawmakers to create another state in the southeast of Nigeria is a misguided initiative that overlooks the pressing economic and security issues plaguing the area…
3 July 2024
LSE
Rampaging bandits in Nigeria’s capital force residents to sleep with one eye open
Abuja, Nigeria’s capital city and the nation’s seat of power, used to be one of the most secure cities in the country. Home to politicians and military officers, one would assume that the city would be protected from criminality, especially armed robbery and banditry. The city has a perception of relative safety from security challenges plaguing parts of the country. However, this appears no longer to be the case. The situation is changing fast, and the city is facing a surge of insecurity. Media reports indicate that in the last year, 87 residents have been killed and another 176 kidnapped. There has been a steady rise in violent attacks within the city. A recent report by a security consulting firm SB Morgen ranked Abuja 11th among cities in Nigeria where frequent abductions occur…
1 July 2024
AFP
Nigeria weekend suicide bomb attack toll climbs to 32
The death toll from multiple suicide bombings in the northeastern Nigerian town of Gwoza over the weekend has risen to 32, the country’s vice president Kashim Shettima said Monday. Saturday’s attacks involving female suicide bombers targeting a wedding, a hospital and a funeral was one of the worst in northeast Nigeria in years, a reminder of the darker days of the country’s long-running struggle with jihadist militants…
Al Mayadeen English
At least 18 people killed in series of suicide attacks in Nigeria
At least 18 people have been killed and 19 seriously injured in suicide attacks targeting a wedding, a hospital, and a funeral in northeast Nigeria, authorities have reported. According to state police, in one of three blasts on Saturday in the town of Gwoza, a woman with a baby strapped to her back detonated explosives in the middle of a wedding ceremony…
BusinessDay
Ebonyi leads as Nigeria’s agriculture hotspot in first census in 31 years
A recent report by the National Bureau of Statistics (NBS) has identified Ebonyi as the state with the highest concentration of agricultural activities in Nigeria. According to the National Agricultural Sample Census (NASC) Report 2022, Ebonyi State led the pack with 99.5 percent of agricultural households engaged in crop cultivation, while only 48 percent of households in Lagos were involved in crop production…
The Nation
Overcoming hurdles to food security, poverty alleviation
Innocent Mokidi, a Nasarawa-based agro-entrepreneur and CEO of Brote Urban Vegetable Farm and Processing Limited, stands as a shining example of success among young farmers. His journey from poultry farming to thriving in vegetable and soybean cultivation is deeply inspiring…