Nigerian Economy Latest News Today

Peter Obi, former governor of Anambra state and vice-presidential candidate of the PDP in the 2019 elections claimed Nigeria has more people living in extreme poverty than the combined number of poor people in India and China.

This was disclosed by the state governor, Udom Emmanuel, who said there was a need for the Akwa Ibom government to invest in the sector for sustainable development and wealth creation.

Some companies are reportedly finding it difficult to service the loans they secured to import some consumable goods and raw materials, which they say has adversely affected their business.

Between the period of the border closure and September, the wholesale price of the broken parboiled rice, the species in top exporting countries fell on product glut resulting from a decline in exports.

Most Reverend Mathew Kukah, while lamenting that Nigeria has become the poverty capital of the world, said nothing is working well in the country.

The Nigerian government has closed its land borders for more than a month, a decision that made the price of rice by 86% to an all-time high of N27,000 per 50kg from N14,500.